A new report projects optimistic growth of the reinforced thermoplastic pipes market and analyses pervasive trends governing the market landscape. According to the report, the clamor for cost-effective piping solutions compatible amid high-pressure and corrosive environments continues to be a prominent revenue lever of reinforced thermoplastic pipes market. The study suggests that demand for thermoplastic pipes market is likely to reach US$198.8 million in 2018, up from US$190.2 million in 2017.
The research study is bullish on the future prospects of reinforced thermoplastic pipes market, and offers an in-depth analysis on all the crucial aspects influencing revenue growth. Sustained demand from oil and gas industry and rising proclivity for plastic pipes over metallic pipes continue to be the preeminent drivers of the reinforced thermoplastic pipes market.
Top 6 players account for over 50% of the revenue share, business expansion remains the focal point
As per the research study, the reinforced thermoplastic pipes represent a moderately consolidated landscape and the top 6 players hold over 50% of the revenue share. With a global presence, the major focus of these companies is on diversification of the product lines and venturing into strategic collaborations and acquisitions.
The report also finds that the key focus of the manufacturers is to efficiently cater to rising demand by ensuring continuous supply of efficient products with enhanced durability and functionality. However, standards and certifications for enhancing the product visibility can hurt the prospects of unorganised players.
“Active internet presence, a sound technical know-how, and offering expert assistance for installation are some of the key differential strategies being adopted by the market players to gain strategic advantages amidst the market competition”, said a senior analyst.
High failure rates of piping infrastructure in the high-pressure applications, either due to the internal or external corrosion, has led manufacturers to explore new avenues of reinforced thermoplastic pipes offerings. Recuperating prices of oil and gas coupled with rising demand from industries such as chemicals and polymer and plastics are the major demand levers of reinforced thermoplastic pipes.
The report analyses all the paramount prospects, ranging from dynamic end-user specifications to evolving manufacturing framework, to gauge widespread adoption of reinforced thermoplastic pipes across diverse industry verticals. Rising demand from onshore applications across the globe has also been identified as one of the prominent factors boosting the deployment of reinforced thermoplastic pipes.
Growing prevalence of shale drilling activities to boost sales of reinforced thermoplastic pipes
As the report, growing popularity of shale drilling activities across key regions, such as US and Canada, will bode well for the growth of reinforced thermoplastic pipes market. Moreover, the study also unveils that the manufacturers of reinforced thermoplastic pipes will gain high-profit margins with on-going projects on replacement of old and worn-out pipes, primarily across gas distribution companies in the key regions.
The need to integrate heat-resistant and strong synthetic fibers is supplementing the sales of aramid reinforced thermoplastic pipes, with a market valuation of over US$140 million by the end of 2018. As per the report, reinforced thermoplastic pipes with diameter up to 4 in. are being increasingly sought across multiple applications, followed by 5 in. and 6 in. The oil and gas industry remains the largest end-user segment in terms of demand for reinforced thermoplastic pipes, driven by the soaring production rates and structural rehabilitation practices, finds the report.
The research study analyses growth of reinforced thermoplastic pipes market for the period of 2018 to 2026. As per the report, the market is likely to expand at a CAGR of over 6% through 2026.
Read the article online at: https://www.worldpipelines.com/special-reports/10052019/new-study-finds-top-6-players-hold-50-share-in-reinforced-thermoplastic-pipes-market/