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Researchnews24

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July 31, 2023 9:06 am

Strategic Assessment of the Thermoplastic Pipe Market: Key Players, Market Dynamics, and Future Prospects To download free sample pages of this report@ https://bityl.co/KBeg In 2022, the thermoplasti... View MoreStrategic Assessment of the Thermoplastic Pipe Market: Key Players, Market Dynamics, and Future Prospects To download free sample pages of this report@ https://bityl.co/KBeg In 2022, the thermoplastic pipe market was worth around USD 3,117 million, and it is projected to advance at a 4.80% CAGR from 2022 to 2030, hitting USD 4,536 million by 2030, according to P&S Intelligence. This growth can be credited to the mounting acceptance of renewable power, the rising adoption of engineering thermoplastic materials, the mounting oil and gas sector, and the development of huge-diameter pipe applications. Furthermore, these pipes are extensively utilized which makes them appropriate for E&P applications, because of their many properties, such as excellent chemical resistance, adaptability, high mechanical damage resistance, high strength, less installation and maintenance prices, and capacity to function at advanced temperatures. In 2022, The reinforced thermoplastic pipe category, generated a higher revenue share, of above 60%, and is also projected to be dominant in the coming years as well. This is mainly due to RTP being majorly utilized for transport and hydrocarbon extraction, oilfield water injection, sewage treatment high-pressure alcohol injection, and others. As a rising corrosion strategy, in the oil and gas sector, thermoplastic pipes play a vital and dynamic role in the transport of hydrocarbons. The volume of numerous corrosive contaminants, such as microorganisms, carbon, and water, existing in these supplies impacts the pace of internal corrosion. In 2022, the oil and gas market held the largest revenue share, of approximately 43%, and is also projected to be dominant in the coming years as well. This growth can be ascribed to the extensive application extents for these pipes, such as transportation pipelines, flowlines, and domestic and several other pipelines in this market; the increasing requirement for corrosion-less pipes that need no or less maintenance; the rising count of gas transport pipeline projects; and the increasing technological improvements.

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Thermoplastic Pipe Market Size & Growth Forecast to 2030

bityl.co

The global thermoplastic pipe market size was valued at USD 3,117 million in 2022, and it will grow at a compound annual growth rate of 4.80% during 2022–2030.

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