FRP Pipe Market by Type (Polyester, Polyurethane, Epoxy, and Others) and by Application (Water and Wastewater, Chemical & Industrial, Oil & Gas, Power Generation, and Others), Process (Centrifugal Casting, Filament Winding, Pultrusion and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023
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The global FRP pipe market was valued at $2,080 million in 2016, and is projected to reach $3,557 million by 2023, growing at a CAGR of 8.1% from 2017 to 2023. Fiber reinforced plastic (FRP) is a composite material mode of a polymer matrix reinforced with fibers such as aramid, glass, carbon, and basalt.
In addition, production of FRP involves two distinct processes—production of fibrous material and bonding of fibrous materials with the matrix during moulding. FRP pipes are commonly used in water and wastewater treatment, marine, construction, and automotive industries.
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Rise in construction of water supply systems, development of sewage treatment, and growth in shale gas exploration activities are anticipated to boost the market growth during the forecast period. In addition, introduction of onsite FRP pipe manufacturing and growth in rehabilitation activities of pipelines are some other key aspects that drive the growth of the global FRP pipe market.
However, high cost of carbon fiber reinforced plastic is expected to restrain the market growth. Moreover, increase in adoption of FRP pipe as an alternative of large and small diameter pipe among various industries such as water and waste water, oil & gas, and power generation provides ample of growth opportunities for the market.
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The global FRP pipe market is segmented based on type, application, process and geography. On the basis of type, the market is categorized into polyester, polyurethane, epoxy, and others.
On the basis of application, it is divided into water and wastewater, chemical and industrial, oil & gas, power generation, and others. Based on process, the global FRP pipe market can be segmented into centrifugal casting, filament winding, pultrusion and others.
By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market focus on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They also focus on strengthening their market reach to maintain their goodwill in the ever-competitive market.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
- Major countries in each region are mapped according to the individual market revenue.
- The region-wise and country-wise market conditions are comprehensively analyzed.
- This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
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