A brief overview of FRP Pipe Market is provided in the report based on product scope and market status & outlook. The market is segmented on the basis of type, end-users/application, and geography
The globalFRP 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.
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
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.
Some of the key players in the global market include:
- Chemical Process Piping Pvt Ltd.
- Amiantit Company
- HengRun Group Co. Ltd.
- Ershing Inc.
- Sekisui Chemicals
- China National Building Material Company Limited
- Future Pipe Industries
- National Oilwell Varco
- Sarplast SA.
Check Full Report With TOC at www.researchbeam.com/FRP-pipe-market
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