Global Thermoplastic Composite Pipe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Thermoplastic Composite Pipe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Thermoplastic Composite Pipe (TCP) use thermoplastic composite materials instead of steel to provide strength and stiffness for the pipelines. A Thermoplastic Composite Pipe (TCP) is a fully bonded, spoolable pipe consisting of a polymeric inner liner, fiber reinforced polymeric laminate and an outer jacket.

Market Overview:

The latest research study on the global Thermoplastic Composite Pipe market finds that the global Thermoplastic Composite Pipe market reached a value of USD 49.02 million in 2022. It’s expected that the market will achieve USD 85.49 million by 2028, exhibiting a CAGR of 9.71% during the forecast period.

Thermoplastic Composite Pipe Growth Drivers

Thermoplastic Composite Pipe can not only withstand high working pressure, but also maintain the light weight, corrosion resistance and high flexibility of plastic pipe. Compared with the widely used steel rigid pipes and flexible pipes, TCP has unique advantages. The inner and outer walls of TCP are made of polyethylene and other polymers. This material has good anticorrosion properties. Depending on the needs of the application, the inner and outer materials can be modified, or special functional layers can be added. Suitable for all kinds of corrosive media and corrosive environment. TCP wall smooth, small flow resistance, can maintain the transmission capacity for a long time, reduce the cost of pipeline maintenance. TCP coiled tubing can be made from 20m to 2000m in length, which is not only easy to install, but also greatly reduces the number of joints and leakage risks. TCP has strong tensile capacity and can withstand large drag forces during installation. Its high flexibility also ensures self-compensation during installation, reducing installation costs.

Thermoplastic Composite Pipe Market Challenges

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages.
For the Thermoplastic Composite Pipe industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.
But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Thermoplastic Composite Pipe Market Restraints

The raw materials of Thermoplastic Composite Pipe include high-density polyethylene (HDPE), polyvinylidene fluoride (PVDF), glass fibers, aramid fibers, high molecular polyethylene fibers, polyvinylidene fluoride (PVDF) and polyetheretherketone (PEEK), etc. The cost of raw materials accounts for a large proportion of the total cost. The fluctuation of raw material price will directly affect the cost of raw materials. The price of raw materials rises, and the cost of enterprises increases. The price of raw materials decreases, and the cost of enterprises decreases. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends. Generally speaking, this will be a fluctuating state.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The top two companies are Strohm, Magma Global, with the revenue market share of 55.76% and 28.95% in 2021.

Airborne International was founded by 2 aerospace engineers in 1995 in The Netherlands. The founders soon surrounded themselves with other aerospace and material experts and quickly built up a strong and established high-end composite design & build company. The company's goal, as laid down in the name Air-borne was to bring the know-how, developed in the Aerospace industry in the areas of design, materials and automated production, to other industries and allow them to benefit from high end product development. The company produces high end products for the space, aerospace and other industries

In 1999, Shell approached Airborne with a request to develop a superior Composite Coiled Tubing. With sponsorship from Shell in this program, Airborne developed the concept of the Thermoplastic Composite Pipe (TCP), the core concept of which included the use of one single polymer in the liner, the composite matrix and the coating. As a result, a strong yet flexible pipe was created, capable of handling the tough downhole, offshore and subsea environments. This development led to the world's first design and the combination of differing but known materials in a unique manufacturing process -TCP was born.
In 2012, a full-scale production site for TCP was built in IJmuiden (Port of Amsterdam). Two years later, the company became independent as Airborne Oil & Gas. In October 2020, Airborne Oil & Gas rebranded to Strohm.

Magma Global develops and produces the world's most advanced subsea pipe for oil and gas. Magma was founded to solve the problems that were a challenge to steel and flexibles: corrosion, temperature, high pressure and speed of deployment. Magma's m-pipe® is made from PEEK and carbon fibre. It simplifies subsea architecture thanks to its low weight, high strength, flexibility and standardised design. m-pipe® is used as flowlines and jumpers by major operators around the world and achieves significant installed cost savings. Magma's game-changing technology is now solving riser challenges and is incorporated into TechnipFMC's Hybrid Flexible Pipe.

Segmentation Overview:

Among different product types, Polyvinylidene Fluoride (PVDF) segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Subsea Flowlines segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Thermoplastic Composite Pipe market covered in Chapter 3:

Strohm
Magma Global

In Chapter 4 and Chapter 14.2, on the basis of types, the Thermoplastic Composite Pipe market from 2018 to 2029 is primarily split into:

Polyethylene (PE)
Polyvinylidene Fluoride (PVDF) Polyetheretherketone (PEEK)

Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Thermoplastic Composite Pipe market from 2018 to 2029 covers:

Subsea Flowlines
Risers

Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)