Opportunities for North American FRP pipe market to reach $692 million by 2022
According to a new market report published by Lucintel, the future of the North American FRP pipe looks promising with growth opportunities in various end use industries, such as oil & gas, chemical, water portable, and sewer gravity and pressure pipe. The North American FRP pipe market is expected to reach an estimated $692 million by 2022 and it is forecast to grow at a CAGR of 3.7% from 2017 to 2022.
The major growth drivers for this market are increase in construction of water supply systems, development of sewage treatment, and increasing oil and gas exploration activities.
In this market, epoxy, polyester, and vinyl ester are the major resins used to manufacture FRP pipe.
On the basis of its comprehensive research, Lucintel forecasts that the epoxy resin is expected to remain the largest segment by value and volume and polyester resin will experience the highest growth over the forecast period.
By diameter, FRP pipe is available in small (<18”), medium (18”-60”), and large ((>60”) diameter. Small diameter FRP pipe is expected to remain the largest market by value and volume consumption.
By pressure unit, FRP pipe is segmented into less than 150 psi (pounds per square inch.), 150 to 300 psi, and more than 300 psi. Less than 150 psi is expected to remain the largest market by value and volume consumption.
The United States is expected to remain the largest region by value and volume and it is also expected to experience the highest growth over the forecast period due to growth in end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of onsite FRP pipe manufacturing facilities and development of grooved coupling method to join FRP pipe. National Oilwell Varco, Future Pipe Industries, and Hobas Pipe USA are among the major suppliers in the North American FRP pipe market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the North American FRP pipe market by end product type, by resin composites type, by diameter type, by pressure unit type and by country, and has come up with a comprehensive research report entitled, “Growth Opportunities in the North American FRP Pipe Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the North American FRP Pipe market by end product type, resin composite, diameter, pressure unit, and country as follows:
By End Product (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
Oil and Gas
Sewer Gravity and Pressure
Pulp and Paper
By Resin Type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
Vinyl ester Composites
By Diameter Type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
By Pressure Unit (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
Less than 150 psi
150 to 300 psi
More than 300 psi
By Country (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth in the North American FRP pipe market by end products (sewer gravity and pressure, water potable, irrigation, storm, hydro, non-circular, oil and gas, retail fuel, pulp and paper, chemical, power, and others), resin composites (epoxy, polyester and vinyl ester), diameter (small, medium and large diameter), pressure unit (less than 150 psi, 150 to 300 psi, and more than 300 psi) and country (US, Canada and Mexico)?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activities have transpired in the last 5 years in this market and what impact have these had on the industry?