According to a new market report published by Lucintel, the future of the global FRP pipe market is positive with opportunities in oil and gas, water & wastewater, chemical & industrial, retail fuel, pulp & paper, and sewage end use applications. The global FRP pipe market is expected to reach an estimated $4.2 billion by 2023 and is forecast to grow at a CAGR of 3.1% from 2018 to 2023. The major growth drivers for this market are increase in construction of water supply and sewage treatment systems, increasing need for rehabilitation of the major water and wastewater infrastructure, and growing oil and gas exploration activities.
In this market, epoxy, polyester, and vinyl ester are the major resin types used for the manufacture of FRP pipes. Lucintel forecasts that the epoxy resin based FRP pipe is expected to remain the largest market by value and volume and polyester resin based FRP pipe will experience the highest growth over the forecast period.
Within this market, chemical and industrial will remain the largest application by value and volume due to increase in demand for high temperatures and corrosion resistant FRP pipe. Lucintel predicts that the demand for sewage application is likely to experience the highest growth in the forecast period due to increasing residential and commercial construction.
By diameter type, FRP pipe is available in small (60”) diameters. Small diameter FRP pipe is expected to remain the largest market by value and volume.
By pressure rating, FRP pipe is segmented into less than 150 psi (pounds per square inch.), 150 to 300 psi, and more than 300 psi. FRP pipes with pressure rating of less than 150 psi is expected to remain the largest segment by value and volume.
Asia Pacific is expected to remain the largest market due to growth in construction and infrastructure development. North America is is expected to witness the highest growth over the forecast period due to growing investment for the replacment of old and dilapidated pipelines.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of onsite FRP pipe manufacturing facilities and development of the grooved coupling method to join FRP pipe. Future Pipe Industries, National Oilwell Varco, Amaintit, Amiblu, and Hengrun are among the major suppliers of the FRP pipe market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global FRP pipe market by application, by resin, by diameter, by pressure rating, by manufacturing process and by region, and has come up with a comprehensive research report “Growth Opportunities in Global FRP Pipe Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes market trends and forecasts for the global FRP pipe market segmented by application, diameter, pressure rating, resin, manufacturing process and region as follows:
By Application (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
• Oil and Gas
• Retail Fuel
• Water & Wastewater
• Pulp & Paper
• Chemical & Industrial
By Diameter (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
By Pressure Rating (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
• Less than 150 psi
• 150-300 psi
• More than 300 psi
By Resin (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
• Polyester Resin based FRP Pipe
• Epoxy Resin based FRP Pipe
• Vinyl Ester Resin based FRP Pipe
By Manufacturing Process (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
• Filament winding
• Centrifugal Casting
By Region (Volume (M lbs) and $M shipment analysis for 2012 to 2023):
• North America
• Asia Pacific
• Rest of World
This 305 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.