New York (United states):- Report Ocean publicize new report on the FRP pipe market. The FRP pipe market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the FRP pipe market growth. Additionally, the database analyzes and estimates the FRP pipe market both globally and regionally.
Global FRP Pipe Market Forecast and Trends
The FRP pipe market witness market size of USD 2.31 Billion in 2019 and projected to reach USD 3.05 billion by 2027 at a CAGR of 4.7% during forecast period of 2021-2027. Growing demand for durable, high strength, and lightweight pipelines for water, wastewater, and industrial chemical supply estimated to drive the industry growth over the forecast period.
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The FRP pipe market is lucrative with opportunities in chemical & industrial and sewage end-use applications. At present, very few major manufacturers dominate the glass fiber reinforced plastic (GRP) pipes industry with strong manufacturing facilities and widespread geographic distribution. High initial investments and operational costs linked with the manufacturing of GRP pipes are likely to be the major entry barriers for new market players. Manufacturers tend to offer standard product materials as the costs associated with fabrication and the engineering involved in custom product manufacturing are very high. Yet, they also provide custom GRP pipes for specific application industries, which are usually manufactured based on the requirements presented by end-users. Advancement and technological growth have a positive impact on the dynamics of the FRP pipe industry, include the introduction of onsite FRP pipe manufacturing services and development of the grooved coupling method to join FRP pipe.
Global FRP Pipe Market: Overview
FRP pipe is the multi-purpose pipe which consists of Fiberglass Reinforced Plastic (FRP) material, which includes thermosetting resins and fiberglass. The blend of glass fibers and resin is used to produce FRP products. The resin provides physical and chemical resistance to the product. FRP is a composite material that is made up of the polymer matrix, and it is reinforced with fibers. The polymer includes vinyl ester, epoxy, or polyester thermosetting plastic. FRPs are mostly used in the various industrial sector such as construction, aerospace, marine, and automotive.
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Demand in Oil and Gas Industry The main driver for the FRP pipe market is the rising demand from the oil and gas industry. This industry has strict performance requirements, and the products should have high-performance by all the regulations and norms. The materials possess mechanical properties like impact strength, reliability, high tensile strength, and fire resistance, thus making it the most favored product for the oil and gas industry. Also, the oil and gas industry requires high diameter pipes that can manage high pressure. The pipes can also be produced with flame-retardant additives for use in critical operations.
Demand for non-corrosive pipe Several industries require non-corrosive pipe so that it can be used for the long term. The main reason for using fiber-glass-reinforced plastics (FRP) is their essential corrosion resistance property. The corrosion resistance of FRP is a function of both the resin content and the specific resin used in the laminate, the higher the resin content, the more will be the corrosion resistant the laminate property.
High raw material price The fluctuating raw material prices hamper the growth of the FRP pipe market. There is a massive demand for carbon fiber materials in the production of FRP products. The leading raw material suppliers companies prefer supplying carbon fibers to only selected industries such as sports and aerospace that are comparatively stable with long term scheduled projects. Also, the pipes cost around ten times their steel counterpart, which is barring their adoption by industry players.
Global FRP Pipe Market: Type
On the basis of its type, the market is segmented into Polyester, Polyurethane, Epoxy and Others. Amidst these segments epoxy has the largest share in the FRP pipe market, and is expected to drive the market in years to come due its environment-friendly property.
Global FRP Pipe Market: Application
On the basis of its application, the market is segmented into Water and Wastewater, Chemical & Industrial, Oil & Gas, Power Generation and Others. The Oil & Gas segment offers most market potential in the global FRP pipe market due to high purchasing capacity in oil & gas companies and increases in demand for non-corrosion piping solutions. Also, the shift in consumer preferences and rapid downfall in the prices of FRP pipes are some other significant aspects fueling the demand for FRP pipes in the oil & gas industry across the globe. Furthermore, owing to technological advances in oil extraction methods and excellent physical, chemical, and mechanical characteristics of FRP pipes, they are well recognized for their use in oil & gas industry and also play a significant role in key ends user industries such as water & wastewater treatment and other chemical applications.
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Global FRP Pipe Market: Regional Insights
On the basis of regional analysis, the global FRP pipe market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The Asia Pacific region expected to dominate the industry and is expected to be the leading market for FRP pipes over the estimated period. China and India are expected to be the fastest-growing market for FRP pipes in the Asia Pacific region. Favorable government regulations, availability of skilled labor, and growing demand from product users are likely to force companies to set up their production facilities in this region. China is the largest purchaser of the pipes in the Asia Pacific owing to huge populations and due to the presence of various chemical manufacturing companies in the country. High population density and the government’s focus on decreasing dependence on imports are driving the market in the country.
The companies that hold the majority share of the FRP Pipe market are Saudi Arabian Amiantit Co, ZCL Composites, Future Pipe Industries, The Hobas Group, Graphite India Limited, Lianyungang Zhongfu Lianzhong Composites, Abu Dhabi Pipe Factory, Hengrun Group Co., Ltd, Enduro Composites Inc, National Oilwell Varco (Nov), HOBAS, SARPLAST SA, SEKISUI CHEMICAL, Farassan, Amaintit, Kinflare Group, Amiblu Holding, ERSHIGS and Other Prominent Players.
December 2019 – NOV (National Oilwell Varco) has completed its purchase of Denali Inc., a global pioneer in fiberglass-reinforced plastic (FRP) products and technology, offering more than 50 years of groundbreaking FRP solutions for the energy, chemical, power and water industries
Historical data: 2016-2019 Base Year: 2019 Forecast: 2020 – 2026 Market Coverage: United States, Canada, Germany, United Kingdom, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, China, India, Japan, South Korea, Saudi Arabia, UAE, South Africa
Centrifugal Casting Filament Winding Pultrusion Others
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North America Europe Asia Pacific Latin America Middle East & Africa
The objective of the Study:
To analyze and forecast the global FRP Pipe market size of the market in terms of value. To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting. The Global FRP Pipe market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. To outline, categorized, and forecast the global FRP Pipe market based on the type, process and application. To examine competitive developments like technological advancement, services, and regulative framework within the global FRP Pipe market. To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges. To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Key questions answered in the global chemical market report are:
— How does a global company acquire markets? — What are its core strategies and policies? — What factors will influence the chemical market over the forecast period? — What are the factors driving and restraining the market for chemicals? — What are the leading competitors in the global market? — Which region is growing at a higher pace in the global market?
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