According to Custom Market Insights (CMI), The Global Fibre Reinforced Plastic Pipes Market Size was valued at USD 2.2 Billion in 2021 and is estimated to reach USD 3.9 Billion by the end of 2030 at a CAGR of approximately 6.7% during the forecast period 2022-2030.
The FRP, or reinforced plastic, is a sophisticated material of a complex polymer matrix reinforced with various fiber types, such as glass, carbon, basalt, etc. The polymer becomes a reinforced polymer after being combined with fiber. Numerous industries use these fibers, including aerospace, building, and automobiles.
The wrapping of glass using fiber filaments to create the FRP pipes results in non-metallic materials. Epoxy resin and a heat-curing agent are blended to create these fibers. The FRP pipes are used in piping systems, tankers, ship compartments, etc. The pipe’s diameter and bending angle change depending on the need.
Browse the full “Fibre Reinforced Plastic Pipes Market Size, Trends and Insights By Type (Glass fibre, Carbon fibre, Aramid, Basalt), By End-User (Oil Gas industry, Chemical industry, Sewage industry, Irrigation industry, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/fibre-reinforced-plastic-pipes-market/
Fibre Reinforced Plastic Pipes Market Dynamics
Drivers
The speedy innovation process and the increase in oil exploration activities drive market growth.
The innovation process in the production of FRP pipes accelerated the market expansion for polymers across various regions. Additionally, the increase in oil exploration operations is one of the key elements influencing the market’s growth.
The increase in technological advancements drives the market growth
Global demand for FRP pipes has increased as a result of technological advances made in response to the needs of a large customer base.
The increased investments in RD activities propel the market growth
The industry is poised to grow both in the foreseeable term and during the forecast period due to rising investments in research and development activities and the rise of significant players in this industry.
The increased demand and popularity of reliable and lightweight FRP pipes fuel the market growth.
The market growth for FRP polymers is driven by a significant demand for dependable, lightweight pipes that are also produced at a low cost. In addition, FRP pipes are reliable for use across many industries, including oil and gas, thanks to their necessary qualities.
Restraints
The increase in environmental concerns regarding the recycling process can hamper the market growth for FRP polymers. The recycling of FRP composites is a severe concern for the environment. Moreover, the fluctuating price of the raw materials for manufacturing reinforced pipes can restrain the market growth for FRP polymers. Apart from that, processing the fiber-reinforced polymer can be detrimental to human health in various ways, and such factors hinder the market growth for FRP polymers.
Opportunities
The FRP-based industries hold ample opportunities for several other companies to flourish, including the end-user industries. Moreover, as per the increase in popularity for the wide usage of FRP polymers, various FRP-based industries tend to upgrade their level in the market, which can be helpful for market growth.
Challenges
The processing of reinforced fiber polymers is a crucial but complex process that can create numerous challenges in the growth of the FRP pipes market. Before the preparation, the estimation of the accurate measurements along with the degree of hardness should be done for the proper production; otherwise, it can lead to severe difficulties. Furthermore, improper accounting can also lead to functional damage, which can be challenging for the market.
Market Highlights
According to fiber type, the glass fiber segment has dominated the market with a market share of 66% in 2021 and is anticipated to increase in value over the forecast period. Several factors make glass fiber the best composite material for polymers. Glass fiber also has a chemical inertness quality, which prevents FRP structures from corrosion.
According to end-user analysis, the sewage segment accounted for 40% of the revenue share. The market is anticipated to grow during the forecast period at a considerable CAGR. This is attributed to the vast variety of sewage pollutants present in varying concentrations. In addition, the sturdy and rigid sewage pipes that transport the wastewater can hold a range of densities, particle sizes, and stiffness.
Get Free Sample Copy @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=18943
Regional Snapshots
The Asia-Pacific took the lead in the RFP market in the region in 2021 and is expected to maintain this lead during the projected period. The rapid development of oil and gas operations in Asia-Pacific and the rapid increase of construction activities are responsible for the market growth in those areas.
Additionally, the high RD activity investments and technological breakthroughs in these areas play a significant role in the market expansion. China accounts for the most critical market share in APAC, accounting for 39% of total market revenue. Numerous construction sectors in China use FRP composites.
Key Players
- Enduro Composites Inc.
- Ershigs Inc. (Denali incorporated)
- Fibrex FRP piping systems
- National Oilwell Varco Inc.
- Sarplast SA
- Saudi Arabian Amiantit Company
- Sekisui Chemical Co. ltd.
- Saudi Arabian Amiantit Company
- Chemical Process Piping Pvt. Ltd.
- China National Building Material Company Limited
- Ershigs Inc.
- Future Pipes Industries L.L.C.
- Hengrun Group Co. Ltd.
- HOBAS
- National Oilwell Varco Inc.
Market segments covered in the report
By Type
- Glass fibre
- Carbon fibre
- Aramid
- Basalt
By End-Use
- Oil Gas industry
- Chemical industry
- Sewage industry
- Irrigation industry
- Others
Buy Now This Premium Report @ https://www.custommarketinsights.com/report/fibre-reinforced-plastic-pipes-market/#table-of-contents
About Us:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Contact Us:
USA Corporate Office
CMI Consulting LLC
1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702
Sales Support +1 801 639 9061
Email : support@custommarketinsights.com
Website : https://www.custommarketinsights.com/
