FRP Pipe Market Overview:
Global FRP Pipe Market was valued at $2,080 million in 2016, and is expected to reach $3,557 million by 2023, registering a CAGR of 8.1% from 2017 to 2023. Fiber rereinforced plastic (FRP) pipes are cylindrical composite pipes made up of a polymer matrix reinforced with fibers, such as carbon, glass, basalt, or aramid. Also, other fibers such as wood, paper, or asbestos are also used but are usually not preferred due to relatively lower strength and higher prices. The polymer used in the manufacture of FRP pipes are generally vinylester, epoxy, or polyester thermosetting plastic. FRP pipes are used in several applications such as water and wastewater treatment, and construction and marine.
The global FRP pipe market is segmented on the basis of 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, the market is classified 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, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global FRP pipe Market Segmentation
Top Investment Pockets, by Application
Global FRP Pipe Market: Top Investment Pockets, by Application
The oil & gas segment offers maximum market potential in the global FRP pipe market, due to rise in per capita disposable incomes and increase in demand for corrosion resistive piping solutions. In addition, shift in consumer preferences and rapid downfall in the prices of FRP pipes are some other major aspects fueling the demand for FRP pipes in oil & gas industry across the globe. Moreover, owing to technological advances in oil extraction methods and excellent chemical, physical and mechanical characteristics of FRP pipes, they are not only well recognized for their use in oil & gas industry, but also play a major role in key end user industries such as water & wastewater treatment and other chemical applications. The oil & gas segment is expected to register a CAGR of 8.4% during the forecast period. However, high initial costs and fluctuation in raw material prices are some key factors anticipated to hamper the market growth in the near future. Furthermore, investments in R&D activities to produce innovative and cost effective FRP pipes are expected to provide opportunities for growth in the future.
The filament winding segment accounted for the largest share in the global market in 2016, and is anticipated to maintain its dominance throughout the forecast period, growing at a CAGR of 8.2%.
FRP Pipe Market Share, by Type, 2016 (%)
Asia-Pacific accounted for more than 38% share of the total revenue in 2016, followed by Europe and North America. The developing countries in Asia-Pacific region are anticipated to register steady growth rate, owing to the surge in the overall economy. Moreover, rise in investments by key manufacturers fuel the market growth.
Korea FRP Pipe Market, 2016-2023 ($million)
Key market players have invested in R&D activities to develop advanced products to cater to the growth in requirements of the consumers. The players operating in the industry include Chemical Process Piping Pvt Ltd., Amiantit Company, Hobas, HengRun Group Co. Ltd., Ershing Inc., Sekisui Chemicals, China National Building Material Company Limited, Future Pipe Industries, National Oilwell Varco, and Sarplast SA.
The other players in the value chain (profiles not included in the report) include ZCL Composites Inc., Balaji Fiber Reinforced, Graphite India, Ashland, IZFRP, Enduro, Flowtite, Beetle Plastics, Augusta Fiberglass, Composites USA, Plasticon Composites, Industrial Plastic Systems, AL-FLA Plastics, Hanwei Energy Services Corp., ECC Corrosion, and Fibrex.
Key Benefits :
- The report provides extensive qualitative & quantitative analysis of the current trends and future estimations of the market from 2016 to 2023 to determine the prevailing opportunities.
- It offers comprehensive analysis of key regions, such as North America, Europe, Asia-Pacific, and LAMEA, to understand the regional trends.
- In-depth analysis of factors that drive and restrict the growth of the market is provided.
- Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- It offers key insights on strategic analysis of various companies and the value chain analysis of FRP pipe.
FRP Pipe Market Key Segments:
- Water and Wastewater
- Chemical and Industrial
- Oil & Gas
- Power Generation
- Centrifugal Casting
- Filament Winding
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA