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03-Feb-2022

How is the Oil and Gas Industry Influencing Demand for Aramid Reinforced Thermoplastic Pipes – Exclusive Report by Fact.MR

The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.

The report offers actionable and valuable market insights of Aramid Reinforced Thermoplastic Pipes. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Aramid Reinforced Thermoplastic Pipes Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Aramid Reinforced Thermoplastic Pipes market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Aramid Reinforced Thermoplastic Pipes

This newly published and insightful report sheds light on Market Insights of Aramid Reinforced Thermoplastic Pipes, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Aramid Reinforced Thermoplastic Pipes Market.

Fact.MR- a market research and competitive intelligence provider- expects demand for reinforced thermoplastic pipes to surge at a CAGR of nearly 5% over the forecast period. Increasing demand for flexible, lightweight and corrosion-resistant pipes in the chemical and water industry has heightened global sales.

Despite the drop in crude oil demand in 2020 amid the pandemic crisis, that impacted investments in the production of reinforced thermoplastic pipes, demand is expected to skyrocket after Q3 2021.

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Segmentation

  • Classification

    • HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes
    • PA (Polyamide) Reinforced Thermoplastic Pipes
    • PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes
    • Other Reinforced Thermoplastic Pipes
  • Reinforced Material

    • Aramid Reinforced Thermoplastic Pipes
    • Glass Fiber Reinforced Thermoplastic Pipes
    • Steel Reinforced Thermoplastic Pipes
  • Pipe Size

    • Reinforced Thermoplastic Pipes Measuring Up to 4 Inches
    • Reinforced Thermoplastic Pipes Measuring 6 Inches
    • Reinforced Thermoplastic Pipes Measuring Above 6 Inches
  • End Use

    • Reinforced Thermoplastic Pipes for Oil & Gas
    • Reinforced Thermoplastic Pipes for On Shore Operations
    • Reinforced Thermoplastic Pipes for Off Shore Operations
    • Reinforced Thermoplastic Pipes for Chemical Industry
    • Reinforced Thermoplastic Pipes for Water Industry
    • Reinforced Thermoplastic Pipes for Other End Uses

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Competitive Landscape

Prominent manufacturers are reliant on approaches such as new product launches and mergers and acquisitions to expand their businesses.

In Jan 2021,  Baker Hughes announced the launch of its next-generation onshore composite flexible pipe to address the corrosion and cost of ownership challenges with a conventional steel pipe for the energy, oil and gas and industrial sectors.

This product is flexible and lightweight which offers an economic and environmentally superior alternative to resource-intensive onshore steel pipes.

In May 2021, Cosmoplast signed a production and sales agreement with Technip-Coflexip in the Gulf and Middle Eastern countries for the manufacture of Coflexlite, a specialised RTP (reinforced thermoplastic) pipe for use in the oil and gas exploration and production industries.

Key Takeaways from Market Study

  • HDPE captures dominant share creating around US$ 321 Mn opportunity over the long-term forecast period.
  • Glass fiber reinforced thermoplastic pipes demand to expand at approximately 5% CAGR by 2031
  • Oil & gas is the fastest-growing segment in the market, owing to the rapid growth of production across Canada and the United States.
  • The Middle East and Africa is set to dominate market revenue in 2021, expected to gain 55 BPS by 2031.
  • Water distribution end-use is anticipated to lose around 25 BPS over the forecast period of 2021-2031
  • The U.K., Canada, and the United States are key countries dominating demand for reinforced thermoplastic pipes.

Amplifying demand for robust piping material across the oil & gas industry, as well as water injection applications are collectively anticipated to fuel expansion prospects for reinforced thermoplastic pipes,” remarks the Fact.MR analyst.

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Key Question answered in the survey of Aramid Reinforced Thermoplastic Pipes market report:

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More Valuable Insights on Aramid Reinforced Thermoplastic Pipes Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Aramid Reinforced Thermoplastic Pipes, Sales and Demand of Aramid Reinforced Thermoplastic Pipes, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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Last Updated: 03-Feb-2022