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The Global Lightweight Reinforced Thermoplastic Pipe (RTP) Market is expected to reach a market size of USD 9.63 Billion at a rapid CAGR of 6.8% during the forecast period, according to the latest analysis by Emergen Research. The rapid growth in the market can be attributed to the rise in the usage of RTPs in the oil and gas sector. Rapid and continuous innovations and technological advancements in the field of lightweight RTP also supports the rapid growth of the market.
Increasing demand for pipes with superior temperature and pressure resistance is also a driving factor for growth of the market. Advantages of RTPs such as durability, corrosion resistance, low maintenance and low cost are the key factors contributing to the growth of the market. Being lightweight, RTPs require less man power and time for installation. This reduces the installation cost.
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Prominent Players Analyzed in the Report:
Cosmoplast, H.A.T-Flex, Saudi Aramco National Oilwell Varco, OPR Offshore Pipelines & Risers Inc., Saudi Arabian Amiantit Co., Shawcor and Wienerberger AG, Baker and Hughes, and PES.TEC.
Key Highlights of Report
In January 2021, Baker Hughes used new composite flexible pipes to expand non-metallic materials for onshore pipelines. Its aim was to create a sustainable and economic alternative to steel pipes.
In April 2020, Non-metallic Innovation Centre (NIC) and SoluForce entered into a partnership to conduct research and development of RTPs. The main purpose of the research is to increase the operating pressure and temperature of RTPs while transporting hydrocarbons.
Oil and gas segment revenue is expected to register a relatively rapid growth rate over the forecast period. This can be attributed to the increasing pipe replacement activities in the developed countries.
North America has maximum market revenue and is expected to register a steady growth over the forecast period. This can be attributed to the establishment of large number of oil and gas companies in the region.
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For this report, Emergen Research has segmented global lightweight reinforced thermoplastic pipe (RTP) market based on product type, reinforcement type, end-use, and region:
Product type Outlook (Revenue, USD Billion; 2021–2028)
Reinforcement Type Outlook (Revenue, USD Billion; 2021–2028)
End-use Outlook (Revenue, USD Billion; 2021–2028)
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Regional Outlook (Revenue, USD Billion; 2021–2028)
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Overview of the Lightweight Reinforced Thermoplastic Pipe Market Report:
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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Emergen Research Lightweight Reinforced Thermoplastic Pipe Market Lightweight Reinforced Thermoplastic Pipe Market Share Lightweight Reinforced Thermoplastic Pipe Market Size
