The global thermoplastic pipe market, which was estimated to be 25,821.9 kiloton in 2014, is projected to reach 33,742.3 kiloton by 2019, at a CAGR of 5.5 per cent, a report said.

In terms of value, it is expected to grow from an estimated $55.4 billion in 2014 to $74.9 billion by 2019, added the report entitled The report "Thermoplastic Pipe Market by Polymer Type (PE, PVDF, PVC, PP & PA), by Application (Oil & Gas, Municipal, Mining & Dredging & Chemicals), by Region (APAC, North America, Latin America, Europe and Middle East & Africa) - Global Trends & Forecast to 2019” from MarketsandMarkets, a global market research firm.

The market applications for thermoplastic pipe include oil & gas, municipal, mining & dredging, and chemicals. The demand for the oil & gas application is estimated to grow with an increasing demand for flexible pipes, umbilical, and risers. In 2013, Asia-Pacific was the largest market for thermoplastic pipe and accounted for a share of around 39.7 per cent.

The thermoplastic pipe market is expected to see increasing demand in the Asia-Pacific region. The rise in the demand for municipal and chemical applications in this region is the prime driver for the growth of the market.

The leading players of the thermoplastic pipe market include Technip (US), Advanced Drainage Systems Inc. (US), Airborne Oil & Gas B.V. (The Netherlands), and Georg Fischer Piping Systems Ltd. (Switzerland).

The market players continuously invest in R&D activities to introduce new products and solutions as per market demands. Considering the demand in the market, these companies are also expanding their facilities to increase their production capacities and strengthen their global network. – TradeArabia News Service