Thermoplastic Pipe Market $74,996.6 Million by 2019 at a CAGR of 6.2%
A recent report by Markets and Markets, “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″, is identifying that the demand for thermoplastic pipe will grow at 6.2% CAGR through 2019 to reach approx. USD75bn by 2019.
The report identifies the rise in the demand for municipal and chemical applications in Asia as the prime driver for the growth of the market.
The thermoplastic pipe market was estimated to be 25,821.9 kiloton in 2014, and is projected to reach 33,742.3 kiloton by 2019, at a CAGR of 5.5% from 2014 to 2019. In terms of value, it is expected to grow from an estimated $55,430.2 Million in 2014 to $74,996.6 Million by 2019. Increasing usage of thermoplastics in the oil & gas industry, particularly in deepwater and ultra-deepwater applications, is one of the drivers of this market. Extensive use of polyethylene pipes for water and wastewater municipal applications are also contributing to the growth of this market.
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