Global FRP pipe market size accounted for around USD 2.10 Billion in 2018, growing at a CAGR of 8.2% during the forecast period. FRP pipe consists of Fiberglass Reinforced Plastic (FRP) material which includes fiberglass and thermosetting resins. The blend of glass fibers and resin is used to produce FRP products.
The report covers forecast and analysis for the FRP pipe market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the FRP pipe market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the FRP pipe market on a global level.
The FRP pipe market size accounted for around USD 2.10 Billion in 2018, growing at a CAGR of 8.2% during the forecast period.
FRP pipe consists of Fiberglass Reinforced Plastic (FRP) material which includes fiberglass and thermosetting resins. The blend of glass fibers and resin is used to produce FRP products. The resin provides chemical and environment resistance to the product and it is binder for the glass fiber in the structural laminate. FRP is a composite material which is made up of polymer matrix and it is reinforced with fibers. The polymer includes epoxy, vinyl ester, or polyester thermosetting plastic. FRPs are mostly used in various industrial sector such as construction, aerospace, marine, and automotive.
Rising demand for FRP pipe from various construction activities and industrial sector is one of the major factor expected to drive industry growth over the forecast period. Moreover, rising construction of sewage treatment facilities, water supply systems, and increasing oil and gas activities particularly shale gas exploration are expected to further drive FRP pipe market growth over the forecast timeline.
FRP pipe consists of superior mechanical properties such as anti-corrosion, longer lifespans, and low conductivity, thus it is mostly preferred in chemical, oil & gas, pulp & paper, retail fuel, marine, water & wastewater sewage and offshore industries. Currently, FRP pipes are used in several sectors and it is continuously replacing conventional metal and PVC pipes. Furthermore, introduction of onsite FRP pipe manufacturing facilities and development of corrugated coupling method in order to join FRP pipe are some of the emerging trends observed in the industry. Such factors are expected to provide potential growth opportunities for FRP pipe market in the coming years.
Asia-Pacific accounted for significant market share in 2018 in global FRP pipe market. The growth is attributed to rising investment from various manufacturers for the development for FRP pipes in the region. North America accounted for substantial revenue share in 2018. Rising construction activities is the major factor which is expected to positively impact FRP pipe market growth in the region.
Some of the key players operating in the global FRP pipe market include HengRun Group Co. Ltd., Sekisui Chemicals, Chemical Process Piping Pvt. Ltd., Hobas, Ershing Inc., China National Building Material Company Limited, Sarplast SA, Amiantit Company, Future Pipe Industries, and National Oilwell Varco, among others. Industry players are majorly focusing on research and development activities to gain major revenue share by providing better quality products.
Global FRP Pipe Market: Process Segment Analysis
Global FRP Pipe Market: Type Segment Analysis
Global FRP Pipe Market: Application Segment Analysis
Global FRP Pipe Market: Regional Segment Analysis