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Global Demand For Reinforced Thermoplastic Pipes Market To Surge At A CAGR Of Nearly 5% By 2031

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As per the latest intelligence report published by Fact.MR, the global reinforced thermoplastics pipes market is expected to have a positive outlook, expanding at a CAGR of above 5% across the 2021-2031 forecast period.

The market value for reinforced thermoplastics pipes was recorded to be US$ 2.8 Bn which grew at a CAGR of 4% during 2016-2020. Recessionary downswings in the oil & gas industry amid the COVID-19 pandemic stalled growth prospects in 2020, amid cessation of exploration and drilling activities. Fortunately, as restrictions ease, demand is expected to rebound by Q4 2021.

Emerging well activities and rising investments in water and wastewater systems are likely to bolster the global sales of the reinforced thermoplastics pipes market in the forthcoming decade. Furthermore, end use industries are looking to leverage lightweight, durable and corrosion resistant piping material, which will significantly broaden expansion prospects in the forthcoming decade.

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Key Takeaways from Market Study

Amplifying demand for robust piping material across the oil & gas industry, as well as water injection applications are collectively anticipated to fuel expansion prospects for reinforced thermoplastic pipes,” remarks the Fact.MR analyst.

Segmentation

Competitive Landscape

Prominent manufacturers of RTP are taking bold steps to expand their businesses globally. For instance, technological advancements, mergers and acquisitions, rising investments in R&D activities.

These materials are capable to withhold Extreme high and low temperatures of 525°F to -65°F,

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