Saudi Arabia Reinforced Thermoplastic Pipes Market to Register a High CAGR until 2028
Increasing application
across different industries and rising oil and gas industry are expected to drive
the growth of Saudi Arabia Reinforced Thermoplastic Pipes Market during the
forecast period of 2024-2028.
According to TechSci Research report, “Saudi Arabia Reinforced
Thermoplastic Pipes Market - By Region, Competition Forecast &
Opportunities, 2018-2028", the Saudi Arabia Reinforced Thermoplastic Pipes Market is anticipated to
register a robust growth during the forecast period, 2024-2028,” owing to factors such as
surging imports and exports of oil and gas, rising onshore and offshore
activities and increasing adoption of reinforced thermoplastic pipes in
chemical sector, driving the market’s growth. Moreover, the increased focus on
generating renewable energy resources may increase the demand for reinforced thermoplastic
pipes. Its greater adaptability/ flexibility, lightness, and anti-corrosive
qualities increase consumer interest in the product. It helps businesses to cut
expenses while increasing productivity. Besides that, its lower maintenance
costs and longer lifespan are expected to increase its appeal across a variety
of manufacturers. However, the pipe's capacity to tolerate high pressures and
temperatures is expected to enhance its acceptance. These reasons are expected
to drive the Saudi Arabia Reinforced Thermoplastic Pipes Market during the
forecast period.
Additionally, the
COVID-19 pandemic has impacted and slowed the expansion of the Saudi Arabia
Reinforced Thermoplastic Pipes Market. Government of Saudi Arabia was obliged
to impose lockdown measures, including the closing of numerous sectors, due to
the pandemic's impact and spread. The supply chains have also suffered as a
result of logistics restrictions and limitations on transit between cities. Oil
and gas are transported to the final consumer using reinforced thermoplastic
pipes. As these pipes are needed to transport water to the plant, it is a
crucial component of water treatment facilities. However, since the water
treatment plants were not operating due to the periodic lockdowns, there was
little demand for crude oil. The Saudi Arabia Reinforced Thermoplastic
Pipes Market's growth was restricted as a result.
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" Saudi Arabia Rein forced Thermoplastic Pipes Market "
Saudi Arabia Reinforced
Thermoplastic Pipes Market is segmented on the basis of classification,
reinforced material, pipe size, end use, and region.
On the basis of reinforced
material, aramid is expected to dominate the Saudi Arabia Reinforced
Thermoplastic Pipes Market because aramid fibers for reinforcing plastics opens
up new possibilities for pipeline construction. Aramid fibers demonstrate
excellent resistance to organic substances such as alcohol, petrol, and various
types of oil. Moreover, aramid fibers are high-performance fibers used by a
range of industries because of their excellent physical and chemical properties
such as excellent chemical and thermal stability, high tensile modulus &
strength, low density, heat resistant & non-flammable, insulation
properties, resistance to impact and damage and low moisture absorption.
On the basis of end use, the
market for Reinforced Thermoplastic Pipes in Saudi Arabia is predicted to be
dominated by oil and gas due to factors such as increasing development of gas
infrastructure and growing investments, are expected to drive the segment during
the forecast period. Moreover, prolonged growth in the consumption of natural
gas, petroleum, and petrochemical commodities is one of the major expansion
drivers for oil and gas businesses in Saudi Arabia. Companies operating in the
industry can aid from this opportunity through spending and participating in
the oil and gas trade.
In order to increase their
production capabilities and maintain their position in the oil and gas
business, the leading Saudi Arabian corporations are engaged in a number of
pipeline projects. The use of oil and gas in Saudi Arabia will also rise in the
future as a result of important variables such a strong economy, population expansion,
and fuel economy. As the nation's infrastructure continues to largely rely on
petroleum-based products, it is anticipated that the dependence on oil and gas
will only grow. As a result, the demand for reinforced thermoplastic pipes is
expected to increase during the forecast period, along with the growth of the
oil and gas industry.
Major
market players operating in the Saudi
Arabia Reinforced Thermoplastic Pipes Market are:
- Alwasail Industrial
Company
- Saudi Arabian Amiantit
Company
- Cosmoplast Industrial
Company
- Magma Global Ltd.
- Saudi HEPCO LLC
- The Zedan Group
- H.A.T. Flex
- National Oilwell Varco
- Wienerberger AG
- OPR Offshore Pipelines
& Risers Inc.
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“As the Kingdom of Saudi Arabia is
likely to be the fastest growing economy and the increasing application of
reinforced thermoplastic pipes in oil and gas industry and rising offshore and
onshore production activities is likely to augment the Saudi Arabia Reinforced
Thermoplastic Pipes Market. Moreover, reinforced thermoplastic pipes offered
ample advantages over steel pipes and fiberglass pipes including
corrosion-resistant and durability, which is increasing its demand during the
forecast period.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Saudi Arabia Reinforced
Thermoplastic Pipes Market By Classification (High-density polyethylene, Polyamide,
Polyvinylidene Fluoride, Others), By Reinforced Material (Aramid, Glass Fiber,
Steel), By Pipe Size (Up to 4 Inches, 6 Inches, Above 6 Inches), By End Use
(Oil & Gas, On Shore Operations, Off Shore Operations, Chemical, Water
Industry, Others), By Region, Competition Forecast & Opportunities,
2018-2028”, has
evaluated the future growth potential of Saudi Arabia Reinforced Thermoplastic
Pipes Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Saudi Arabia Reinforced
Thermoplastic Pipes Market.
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