The latest research study “FRP Pipe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global FRP pipe market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.19% during 2023-2028.
Fiber reinforced plastic (FRP) pipe represents a composite material manufactured by centrifugal casting and winding process that supports thermosetting resins with fiberglass filaments. It is strong, easy to install, lightweight, highly resistant to temperature, chemicals, and corrosion, etc. In addition to this, FRP pipe provides the required jacking pressure and smooth outer surface. Consequently, it is extensively used in the trenchless installation of pipelines, such as direct pipe and micro tunneling. FRP pipe withstands the corrosion of acid, alkali, salt, etc., and prevents the erosion of untreated sewage, corrosive soil, and chemical wastewater. It incurs low investment and pumping costs. As such, FRP pipe is widely utilized in several industries, such as chemical, construction, oil and gas, etc.
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FRP Pipe Market Trends and Drivers:
The increasing construction of commercial buildings is augmenting the need for proper drainage and pipeline system, which is primarily driving the FRP pipe market. Additionally, the escalating demand for lightweight and corrosion-resistant piping from the construction industry is further catalyzing the market growth. Besides this, continuous technological innovations in the manufacturing process of FRP pipe and the growing investments in pipeline infrastructures are acting as significant growth-inducing factors. Moreover, the widespread adoption of FRP pipes in saltwater cooling and desalting plants, water and wastewater treatment operations, water well casings, process piping, injection lines, etc., and the rising consumer awareness towards the benefits of using these pipes over other piping systems are also positively influencing the global market. Apart from this, extensive R&D activities to introduce advanced product variants are anticipated to fuel the FRP pipe market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Augusta Fiberglass, Enduro Composites, Ershigs Inc, Fibrex Fiberglass Pipe, FRP SYSTEMS, Hanwei Energy Services Corp., HOBAS, Industrial Plastic Systems, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd, NOV Inc., Sarplast, Saudi Arabian Amiantit Co. and Shawcor Ltd.
FRP Pipe Market 2023-2028 Analysis and Segmentation:
The report has segmented the market on the basis of type, manufacturing process and application.
Breakup by Type:
- Glass-Reinforced Polyester
- Glass-Reinforced Vinyl Ester
- Glass-Reinforced Epoxy
Breakup by Manufacturing Process:
- Centrifugal Casting
- Filament Winding
- Pultrusion
- Others
Breakup by Application:
- Water and Wastewater
- Chemical and Industrial
- Oil and Gas
- Power Generation
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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