Global fiber reinforced plastic pipe market is expected to reach $3.8 billion by 2023, P&S Market Research
The growth of the FRP pipe market is mainly driven by the changing preference of consumers from iron pipes to FRP pipes, increase in demand for cost-effective piping solutions, and growing demand for these pipes from the oil and gas industry.
Browse report overview with 91 tables and 51 figures spread through 130 pages and detailed TOC on "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" at:https://www.psmarketresearch.com/market-analysis/frp-pipe-market
FRP is a composite material which is made of polymer matrix and is reinforced with different fibers like glass, carbon, and basalt. These fibers are used in various industries like aerospace, construction, and automotive.
Insights on market segments
On the basis of type, the market is categorized into polyester, polyurethane, epoxy, and others. Epoxy is the largest category in the FRP pipe market, due to these pipes being very environment friendly as compared to other materials.
On the basis of application, the market is classified into water and wastewater, chemical and industrial, oil and gas, power generation, and others. Chemical and industrial is has been the largest application category in the FRP pipe market, with an estimated contribution of more than 40.0% in 2017. This is due to the fact that in the chemical and industrial sectors, pipes which can withstand high temperatures and are corrosion resistant are required. These pipes have got the required properties and also have higher strength to weight ratio.
On the basis of process, the FRP pipe market can be segmented into centrifugal casting, filament winding, pultrusion, and others. Filament winding has been the largest category till now. This is due to the fact that the winding process is quite easy and filament winding can be well suited to automation without the need of any human intervention. Most of the industries are now accepting this process because it is resulting in cost effectiveness and there are less chances of human error.
Asia-Pacific stands as the largest FRP pipe market
Globally, Asia-Pacific has been the largest FRP pipe market till now. This is attributed to the increase in construction, and oil and gas activities in the region. Additionally, increasing focus of government to improve sewage treatment facilities in the region is also driving the market growth. Sewage treatment facilities mainly rely on the use of fiber reinforced plastic pipes over the iron ones, due increased life of the former.
Europe has been recording the second highest revenue share in the FRP pipe market till now, led by increase in construction activities in last few years in the region, and people have been resorting to the use of fiber reinforced pipes for their better thermal resistant power.
Increase in R&D for cost effective FRP pipes acts as an opportunity for market growth
These pipes are being viewed as cost effective solutions because they are able to withstand high temperatures, are corrosion resistant, and also, have high strength-to-weight ratio, which makes it easier to install these pipes in industries. Research is underway to make these pipes cost effective, which is expected to fuel the FRP pipe market growth.
Apart from this, another area where these pipes can be used is geo-thermal power plants, where corrosion is one of the major problems affecting the power supply. The use of these pipes will help in the proper supply of power, due to their high thermal efficiency.
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.
Global FRP Pipe Market Segmentation