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 molding. FRP pipes are commonly used in water & wastewater treatment, marine, construction, and automotive industries.
The growth of the global FRP market is expected to be driven by increase in construction of water supply systems, development of sewage treatment, and the expansion of shale gas exploration operations. Other significant factors driving the growth of the global FRP pipe market include the advent of onsite FRP pipe manufacturing and an increase in pipeline restoration activities. However, high cost of carbon fiber-reinforced plastic is projected to limit market expansion. On the contrary, increase in use of FRP pipe as a replacement for big and small diameter pipe in various industries such as water & wastewater, oil & gas, and power generation is expected to offer remunerative opportunities for the expansion of the market.
The global FRP Pipe market is segmented on the basis of type, manufacturing process, application, and region. Depending on type, the market is categorized into glass-reinforced polyester, glass-reinforced vinyl ester, and glass-reinforced epoxy. By manufacturing process, it is fragmented into centrifugal casting, filament winding, pultrusion, and others. As per application, it is classified into water & wastewater, chemical & industrial, oil & gas, power generation, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global FRP pipe market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Chemical Process Piping Pvt. Ltd., China National Building Material Company Limited, Ershigs Inc., Fibrex, Future Pipes Industries L.L.C, HOBAS, National Oilwell Varco Inc., Sarplast SA, Sekisui Chemical Co. LTD, and Saudi Arabian Amiantit Company.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global FRP pipe market from 2020 to 2030 to determine the prevailing opportunities
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided
- Estimations and forecast are based on factors impacting the market growth in terms of both value and volume
- Profiles of leading players operating in the market are provided to understand the global competitive scenario
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
IMPACT OF COVID-19 ON THE GLOBAL FRP PIPE MARKET
- The pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for FRP pipes is witnessing massive decline in all segments. Some regions, particularly, North America and Europe, are witnessing greater declines than Asia-Pacific Amidst the ongoing crisis, FRP pipe producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term
- The International Energy Agency projects that oil & gas revenues for a number of key producers fell between 50% and 85% in 2020, compared to 2019, yet the losses could be larger depending on future market developments With overall calculation of oil & gas demand, the oil & gas industry witnessed significant decline, thereby impacting the FRP pipe market, which is completely dependent on the oil & gas industry
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using FRP pipes, thereby affecting the FRP pipes market
- The construction industry acquired a significant share in terms of consumption of FRP pipe globally. Attributed to the outbreak of COVID-19 pandemic, the construction of various large projects was halted amid lockdown As a result, the demand for FRP pipes declined, which led to the downfall of the global FRP pipe market
KEY MARKET SEGMENTS
By Type
- Glass-reinforced Polyester
- Glass-reinforced Vinyl Ester
- Glass-reinforced Epoxy
By Manufacturing Process
- Centrifugal Casting
- Filament Winding
- Pultrusion
- Others
By Application
- Water & Wastewater
- Chemical & Industrial
- Oil & Gas
- Power Generation
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Abu Dhabi Pipe Factory
- Chemical Process Piping Pvt Ltd
- China National Building Material Company Limited
- Ershigs Inc
- Fibrex
- Future Pipes Industries LLC
- HOBAS
- National Oilwell Varco Inc
- Sarplast SA
- Saudi Arabian Amiantit Company
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Table of Contents
Executive Summary
According to a new report titled, “FRP Pipe Market by Type, Manufacturing Process, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”The global FRP pipe market was valued at $3.7 billion in 2020, and is projected to reach $6.3 billion by 2030, growing at a CAGR of 5.5% from 2020 to 2030.
FRP pipe is a cylinder composite pipe constructed of a polymer matrix reinforced with fibers such as carbon, glass, basalt, or aramid. Other fibers such as wood, paper, or asbestos are utilized, although they are not as popular due to their lesser strength and greater costs. These pipes are corrosion-resistant and have a high strength-to-weight ratio, which come handy in a variety of situations. The FRP pipe market is predicted to grow significantly, as these pipes are cost-effective in the long run and can be utilized for a variety of purposes. For example, due to their superior qualities, old iron pipes are being replaced with new FRP pipes in onsite production and rehabilitation activities, resulting in market growth.
The market is being propelled by surge in demand from the oil & gas industry, increase in need for cost-effective solutions, and shift in consumer preferences. Mechanical features such as high tensile strength, impact strength, reliability, and fire resistance distinguish the materials, making them a favored product for the oil & gas industry. Furthermore, the oil & gas business requires large diameter pipes that can withstand tremendous pressure. The pipes can be designed with flame-retardant additives for use in critical areas. In offshore, oil & gas production, these pipes are used in platform areas.
The growth of the FRP pipe market is hampered by the fluctuating raw material prices. There is a huge demand of carbon fiber materials in the manufacturing of FRP products. The leading raw material suppliers prefer supplying carbon fibers to only select industries such as aerospace and sports, which are relatively stable with long-term scheduled projects. Moreover, pipes cost around 10 times their steel counterpart, which is impeding their adoption by industry players.
The global FRP pipe market is segmented into type, manufacturing process, application, and region. Depending on type, the market is categorized into glass-reinforced polyester, glass-reinforced vinyl ester, and glass-reinforced epoxy. Depending on manufacturing process, it is fragmented into centrifugal casting, filament winding, pultrusion, and others. On the basis of application, it is classified into water & wastewater, chemical & industrial, oil & gas, power generation, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global FRP pipe market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Chemical Process Piping Pvt. Ltd., China National Building Material Company Limited, Ershigs Inc., Fibrex, Future Pipes Industries L.L.C, HOBAS, National Oilwell Varco Inc., Sarplast SA, Sekisui Chemical Co. LTD, and Saudi Arabian Amiantit Company.
The global FRP pipe market is analyzed in accordance with the impacts of drivers, restraints, and opportunities. The period studied in this report is 2020–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Findings Of The Study
- On the basis of type, the glass-reinforced epoxy segment emerged as the global leader with around 506% of the global market share in 2020, and is anticipated to be the largest markets during the forecast period
- Depending on manufacturing process, the filament winding segment registered the highest market share of around 714%, and is projected to maintain the same during the forecast period
- As per application, the chemical & industrial segment registered the highest market share of around 389%, and is projected to maintain the same during the forecast period
- Region wise, Asia-Pacific registered the highest market share of around 365%, and is projected to maintain the same during the forecast period
- Impact Of Covid-19 On The Global Frp Pipe Market
- The pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for FRP pipes is witnessing massive decline in all segments. Some regions, particularly, North America and Europe, are witnessing greater declines than Asia-Pacific Amidst the ongoing crisis, FRP pipe producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term
- The International Energy Agency projects that oil & gas revenues for a number of key producers fell between 50% and 85% in 2020, compared to 2019, yet the losses could be larger depending on future market developments With overall calculation of oil & gas demand, the oil & gas industry witnessed significant decline, thereby impacting the FRP pipe market, which is completely dependent on the oil & gas industry
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using FRP pipes, thereby affecting the FRP pipes market
Companies Mentioned
- Chemical Process Piping Pvt. Ltd.
- China National Building Material Company Limited
- Ershigs Inc.
- Fibrex
- Future Pipes Industries L.L.C
- HOBAS
- National Oilwell Varco Inc.
- Sarplast SA
- Sekisui Chemical Co. LTD
- Saudi Arabian Amiantit Company.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 210 |
Published | February 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 3.7 billion |
Forecasted Market Value ( USD | $ 6.3 billion |
Compound Annual Growth Rate | 5.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |