The thermoplastic pipe market has expanded dramatically in recent years, driven by rising demand for innovative pipeline solutions across a wide range of industries. According to MarketsandMarkets, the global thermoplastic pipe market is expected to develop at a CAGR of 4.5% between 2021 and 2026. This article delves into the report’s major findings and throws light on the drivers driving the thermoplastic pipe market’s growth.
The thermoplastic pipe market is benefiting from an expanding application scope in industries such as water and wastewater treatment, oil & gas, chemicals, agriculture, and mining. The need for thermoplastic pipes has been driven by the need for reliable, cost-effective, and long-lasting piping systems in various industries.
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The rising application breadth across varied industries such as water and wastewater treatment, oil & gas, chemicals, agriculture, and mining is boosting the thermoplastic pipe market. The necessity for dependable, cost-effective, and long-lasting piping systems in various industries has fueled demand for thermoplastic pipes.
Thermoplastic pipes have various advantages over traditional metallic pipes, which is why they are becoming more popular:
a. Corrosion Resistance:
Unlike metal pipes, thermoplastic pipes are highly resistant to chemical corrosion, resulting in a longer lifespan and lower maintenance costs.
b. Lightweight and Flexibility:
Because thermoplastic pipes are lightweight and flexible, they are easier to transport, handle, and install. They also provide design flexibility, allowing for simple integration into complex systems.
c. Longevity:
Thermoplastic pipes are well-known for their outstanding strength and toughness, which allows them to survive extreme environmental conditions, impact, and abrasion.
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Key Market Players
A few major players that have a wide regional presence dominate the thermoplastic pipe market. The leading players in the thermoplastic pipe market include NOV (US), Wienerberger (Austria), TechnipFMC (UK), Georg Fischer (Switzerland), and Advanced Drainage Systems (US).
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