FRP stands for fiberglass reinforced plastic, also called as fiber reinforced polymer which is a material derived through a combination of glass fibers and polymer resins. Fiber reinforced plastic (FRP) pipes are cylinder-shaped and composite pipes which are made up of polymer matrix and is reinforced with different fibers like glass, carbon, aramid, and basalt.
There are three types of FRP pipes: polyester FRP pipe, polyurethane FRP pipe, and epoxy FRP pipe. The epoxy FRP pipes segment accounts for major share in the global market owing to its various properties such as temperature resistance, good adhesion strength, and lower styrene emissions than polyester resins. This is expected to surge demand of polyurethane FRP pipes among chemical and oil and gas industries. On the basis of application, the target market is segregated into oil & gas, chemical, and drainage. Growing demand for corrosion-resistant piping solutions among various industries including oil & gas and chemical is expected to boost growth of FRP pipes.
In addition, easy availability of FRP pipes at a lower cost and technological advancements in oil extraction methods and are resulting in increasing adoption of FRP pipes among various end use industries. Moreover, increasing adoption of FRP pipe as an alternative of large and small diameter pipe providing ample growth opportunities for the target market.
However, the fluctuating cost of raw materials may hamper growth of the global FRP pipes market.
Growing construction activities in developing countries such as India and China is resulting in increasing demand for FRP pipes. The increasing preference for using natural gas instead of coal and the development of water supply systems are some factors anticipated to boost market growth over the forecast period. Moreover, rapid urbanization, industrialization, and economic growth are some additional factors creating demand for FRP pipes in order to provide a better sewage system. In addition, the introduction of onsite FRP pipe manufacturing along with upgradation activities of older pipelines in developing countries are resulting in increasing demand for FRP pipes.
$ 3,988.8 Mn
6.1%
- By Type
- By Region
- By Application
$ XXXX Mn
North America accounts for significant revenue share contribution to the target market. This is attributed to growing infrastructural development activities. Moreover, increasing domestic onshore oil & gas production and growing sewage treatment and wastewater management activities resulting in high demand for FRP pipes in the region. Europe accounts for a moderate revenue share in the global market and is expected to witness considerable growth over the next 10 years. UK government are taking initiatives in order to support the utilization of fiberglass pipes in infrastructure industries including building, marine, and offshore oil & gas, which is expected to create a positive impact on the demand for these pipes
Key players operating in global market are Future Pipe Industries, HengRun Group, China National Building Material Company, Flowtite, National Oilwell Varco, Amiantit, Sarplast, Augusta Fiberglass, HOBAS, ZCL Composites Inc., Fibrex, Enduro, Beetle Plastics, ECC Corrosion, Ershings, Hanwei Energy Services Corp., Composites USA, FRP SYSTEMS, Industrial Plastic Systems, and Plasticon Composites
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