Composite Pipes Market Analysis:
Composite pipes are made from reinforced and non-reinforced thermoplastics such as PVC, PP, FRP, GRP, and HDPE. Composite pipes are anti-corrosive, hard, sulfur resistant, and temperature resistant. Thus, this makes them suitable over other non-reinforced pipes. The various mechanical properties of composite pipes make it preferable for many industries. Composite pipes are capable of handling high forces during the installation process. Composite pipes prevent the growth of bacteria and accumulation of solid waste in the internal part of the pipe. Moreover, clearing of blockage in composite pipes with pressure jet is far more convenient than for other pipe materials. Composite pipes exhibit a life expectancy of 50 to 100 years. This leads to increased demand for composite pipes in the global market.
COVID-19 impact analysis
The composite pipes market is expected to decline during the forecast period, due to the outbreak of the COVID-19 pandemic. This decline is majorly caused by the disruption in the supply chain. The composite pipes market is expected to grow after the lockdown due to its applications in the chemical, transportation, and construction industries. In the Middle East, pipe materials will always have a significant demand, as it is the prime producers of crude oil. In addition, the region requires pipeline transport for various purposes such as production, supply, and distribution of these oils. Lack of maintenance during this lockdown period in the factories may cause the non-reinforced pipes to showcase some leakage or corrosive problems. This can fuel the composite pipes market due to their resistance and durability.
Market scenario analysis
Surge in the application of pipes in the chemical industry and increase in transportation of fluids through the mode of pipeline transport have boosted the overall market growth. Moreover, development of the construction sector and various initiatives that support the growth of agriculture industry are expected to drive the composite pipe global market. However, high raw material cost and complex and expensive machinery incur high initial investment for the production of composite pipes, which is anticipated to hinder the growth of the market during the forecast period. On the contrary, rise in number of manufacturers and suppliers across the globe, especially in Asia-Pacific, followed by North America and Europe is expected to fuel the market growth in the near future.
Regional outlook
North America and Europe are expected to undergo a significant growth in the composite pipes market, which can be attributed to surge in demand for pipes in applications such as vacuum pumps, air conditioning, and construction sector. Similarly, Asia-Pacific is expected to witness significant growth during the forecast period, as composite pipes give the benefits of both metal and plastic pipes together. Middle East is expected to witness an increase in the demand for composite pipes, as it is are the prime producer of oil and requires pipelines for transportation distribution and supply of fuels.
Opportunities and trends
Surge in demand for pipes for various applications such as oil distribution, vacuum pumps, and air conditioning is expected to boost the growth of the composite pipes market. Furthermore, its mechanical properties such as anticorrosion, resistance to heat & force, and flexibility make it suitable over other pipe materials. Usage of pipe materials in the construction industry is further boosting the market growth, as composite pipes exhibit top class quality in its respective domain. Government programs toward urbanization is augmenting the growth of construction and agricultural industries, thereby boosting the global market for composite pipes.
Key benefits of the report
- This report presents the analytical depiction of the global composite pipes industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the global Composite pipes market growth scenario.
- The report provides a detailed market analysis depending on competitive intensity and how the Market will take shape in coming years.
Questions answered in the global composite pipes market research report:
- Which are the leading market players active in the global composite pipes market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the future estimations that would help in taking further strategic steps?
Composite Pipes Market, by Type Report Highlights
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