Fiber Reinforced Plastics (FRP) Pipe Market by Process (Centrifugal Casting, Filament Winding, Pultrusion), by Type (Polyester, Polyurythene, Epoxy), by Application (Water & Wastewater, Chemical & Industrial, Oil & Gas, Power Generation), by Geography (U.S, Canada, Mexico, France, Germany, U.K., Spain, Italy, India, China, Japan, South Korea, Australia, Brazil, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2016-2023

FRP Pipe Market Overview

Global FRP pipe market attained a size of $2,134.4 million in 2016 and is projected to witness a CAGR of 8.4% during 2017-2023. Rise in construction of water supply systems, development of sewage treatment facilities and rise in oil and gas activities especially shale gas exploration are some of the key factors driving the growth of the market.

 

GLOBAL FRP PIPE MARKET, BY APPLICATION, TONS (2016–2023)

 

These pipes are corrosion resistant and also have a high strength-to-weight ratio, which is helpful in many ways. These pipes are also cost effective in the long run and can be used in various activities, which is expected to fuel the FRP pipe market growth. For example, in onsite manufacturing and rehabilitation activities, old iron pipes are being changed with new FRP pipes attributed to its superior properties, thereby driving the market growth.

Globally, Asia-Pacific has been recording the largest share in the FRP market till now. Increase in construction activities in the region is boosting the demand for these pipes, thereby positively impacting the market growth. Additionally, there has been an increase in the manufacturing activities in the region, especially in the automobile sector, where these pipes are used. This eventually drives the growth of the FRP pipe market in the region.

On the basis of type, the market is categorized into polyester, polyurethane, epoxy, and others. Of these, epoxy is the largest type in the FRP pipe market, due to the fact that it is a very environment-friendly material and causes no pollution.

On the basis of application, the FRP pipe market is classified into water and wastewater, chemical and industrial, oil and gas, power generation, and others. The chemicals and industrial category has been recording the highest share in the market so far. Chemical industries require pipes which are corrosion and fire resistant. The industry is guided by strict norms and hence, these pipes are manufactured accordingly to meet all the necessary standards.

On the basis of process, the FRP pipe market is segmented into centrifugal casting, filament winding, pultrusion, and others. Among these, filament winding is the largest category, attributed to the advantages of automation and cost reduction associated with this process.

FRP Pipe Market Dynamics

Rising demand from the oil the and gas industry, increase in the demand for cost effective solutions as well as changing preference of consumers are the major drivers propelling the growth of the market.

Drivers

The major driver for the FRP pipe market is the increasing demand from the oil and gas industry. This industry has got strict performance requirements and the products should be in accordance with all the norms. The materials possess mechanical properties like high tensile strength, impact strength, reliability, and fire resistance; thus, making it a preferred product for the oil and gas industry.

Also, the oil and gas industry needs high diameter pipes which can handle high pressure. The pipes can also be designed with flame-retardant additives for use in critical areas. In offshore oil and gas production also, these pipes are used in platform areas.

Restraints

The growth of the FRP pipe market is hampered by the fluctuating raw material prices. There is a huge demand of carbon fiber materials in the manufacturing of FRP products. The leading raw material suppliers prefer supplying carbon fibers to only select industries such as aerospace and sports, that are relatively stable with long term scheduled projects. Also, the pipes also cost around 10 times their steel counterpart, which is impeding their adoption by industry players.

FRP Pipe Market Competitive Landscape

Some of the major players operating in the FRP pipe industry are Saudi Arabian Amiantit Company, Chemical Process Piping Pvt. Ltd., China National Building Material Company Limited, Ershigs Inc., Future Pipes Industries L.L.C., Hengrun Group Co. Ltd., HOBAS, National Oilwell Varco Inc., and Sekisui Chemical Co. Ltd., Sarplast SA.