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 is a composite material manufactured by centrifugal casting and winding process that reinforces thermosetting resins with fiberglass filaments. It is lightweight, strong, easy to install, and highly resistant to temperature, chemicals, and corrosion. It is extensively used in the trenchless installation of pipelines, such as direct pipe and micro tunneling, as it provides the required jacking pressure to drive the pipe due to its smooth outer surface. Additionally, it withstands the corrosion of acid, alkali, and salt and prevents the erosion of untreated sewage, corrosive soil, and chemical wastewater. As FRP pipe incurs low investment and pumping costs, it is extensively used in various industries, such as construction, chemical, and oil and gas.
FRP Pipe Market Trends:
- The growing global population is increasing construction of residential and commercial buildings. This is driving the demand for proper drainage and pipeline system installed with FRP pipes. The rising demand for lightweight and corrosion-resistant piping from the construction industry is also bolstering the market growth. In addition, the increasing use of chemical and pollution-resistant pipes in the chemical and oil and gas industries is offering lucrative growth opportunities to manufacturers. In line with this, technological innovations in the manufacturing process of FRP pipes are offering a favorable market outlook. Furthermore, the increasing utilization of FRP pipes in water and wastewater treatment operations, saltwater cooling and desalting plants, water well casings, process piping, and injection lines is strengthening the market growth. Additionally, the rising awareness among the masses about the benefits of using FRP pipes over other piping systems is contributing to market growth. Moreover, increasing investment in pipeline infrastructure and research and development (R&D) activities to launch advanced product variants are propelling the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global FRP pipe market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
Breakup by Application:
- Water and Wastewater
- Chemical and Industrial
- Oil and Gas
- Power Generation
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report:
- 1. What was the size of the global FRP pipe market in 2022?
- 2. What is the expected growth rate of the global FRP pipe market during 2023-2028?
- 3. What are the key factors driving the global FRP pipe market?
- 4. What has been the impact of COVID-19 on the global FRP pipe market?
- 5. What is the breakup of the global FRP pipe market based on the type?
- 6. What is the breakup of the global FRP pipe market based on the manufacturing process?
- 7. What are the key regions in the global FRP pipe market?
- 8. Who are the key players/companies in the global FRP pipe market?