Reinforced thermoplastic pipes marketplace continues to be moderately consolidated and the top 6 players account for over 50% of the market revenue share. Sound operations and robust sales infrastructure, with an emphasis on value selling, remain the predominant revenue levers of these companies. Successful business expansion through collaborations and new product developments prevail as key strategic moves of these companies to gain considerable profit margins.
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Established players in the Reinforced Thermoplastic Pipes Market are building consensus with end users for ensuring long-term supplies, with an objective of gaining additional benefits. For instance, Saudi Aramco signed a MoU with the Aerosun Corporation in 2018, to supplement the production of reinforced thermoplastic pipe and components. Key companies, such as Thermoflex and Pipelife International, offer extended support to the end-users in selecting and installing reinforced thermoplastic pipes, as a part of their ‘value-added services’.
Cost Reduction and Enhanced Reliability- Key USPs of Reinforced Thermoplastic Pipes
The popularity of reinforced thermoplastic pipes for medium to high-pressure applications has been gaining significant prominence, superseding the vigor of conventional metal pipes. This surge in appeal of reinforced thermoplastic pipes can be attributed to their excellent chemical resistance and high performance, and cost-effectiveness.
On the back of myriad benefits, end-users across a range of industries are using reinforced thermoplastic pipes. The concerns apropos of pipeline reliability are likely to pick pace, which is expected to significantly propel the demand for reinforced thermoplastic pipes in the forthcoming years. Fast and easy installation, as compared to that of conventional pipes, is considerably boosting the popularity of reinforced thermoplastic pipes across multiple industry spaces.
Awareness about the Need to Fine-tune Performance Aspects – A Strategic Lever for Growth of Manufacturers
The pressure ratings of reinforced thermoplastic pipes have always been a sole performance requirement from the end-user perspective. However, there are other multiple essential requirements, which end users also look for in the reinforced thermoplastic pipes they utilize. For instance, deformation and fracture properties of reinforced thermoplastic pipes are of great importance to the end users and remain among the highly sought specifications.
This provides sizeable credence to the fact that understanding the need for fine-tuning performance aspects will enable the manufacturers of reinforced thermoplastic pipes to successfully introduce new offerings to the end-user marketplace. Manufacturers’ attention to details and end-user specifications, before commercialization of their offerings, is highly likely to help them gain a competitive edge in the reinforced thermoplastic pipes market space.
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Growing Emphasis on Regulation and Certification: Opportunity for Tier I Players, Challenge for Unorganized Players
End-users are showing a marked preference for certified reinforced thermoplastic pipes. The growing consumer emphasis on quality over quantity is likely to boost the prospects of Tier I players; in contrast, Tier III players may witness a decline in demand for their products.
Key players, such as Soluforce, ShawCor, Aerosun Corporation, and many more, have ensured the compliance of their products along with standard certifications to make them deployment-ready. Some of the prominent compliances for the reinforced thermoplastic pipes include API RP 15S, API 17J, API 17K, ASTM D2992, and CSA Z662-07. These standards and approvals make it tough for the new entrants to scale up their presence in the reinforced thermoplastic pipes market space.
Applications in Enhanced Oil Recovery Likely to Create Opportunities for Stakeholders
Surging oil demand and decline in oil production rates in existing wells are foreseen to predominantly push the demand for enhanced oil recovery process. This rising demand for enhanced oil recovery will translate into mandates to explore in deeper and harsher well applications, wherein liner products capable of withstanding high pressures and temperatures will be highly sought.
Burgeoning preferences for pipes sustaining harsh conditions for enhanced oil recovery processes will push the demand for reinforced thermoplastic pipes, boosting growth potential of the market. Additionally, the sales of reinforced thermoplastic pipes is also likely to gain benefits from intervention of governments worldwide to encourage and incentivize enhanced oil recovery initiatives.
The competitive landscape in the reinforced thermoplastic pipes market profiles the prominent players operating in the reinforced thermoplastic pipes market space. Few of the profiled players in the reinforced thermoplastic pipes market report include Shawcor Ltd., Pipelife Nederland B.V., CGH – Belgium, Aerosun Corporation, Polyflow LLC., Cosmoplast Industrial Company, and MFX DO BRASIL EQUIPAMENTOS DE PETROLÉO LTDA.
Shawcor Ltd., a key player of the reinforced thermoplastic pipes market, operates via two reportable business segments namely Pipeline and Pipe Services and Petrochemical & Industrial. The company acquired Tubular Inspection and Management (“TIM”) and Global Poly businesses operated by Flint Field Services Ltd. in 2015, in a bid to extend its current service offerings in composite production systems.
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