PUBLISHER: The Business Research Company | PRODUCT CODE: 1263157
PUBLISHER: The Business Research Company | PRODUCT CODE: 1263157
“Glass Reinforced Plastics (GRP) Pipes Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on glass reinforced plastics (grp) pipes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for glass reinforced plastics (grp) pipes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The glass reinforced plastics (grp) pipes market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the glass reinforced plastics (grp) pipes market are: Amiblu Holding GmbH, Composite Pipes Industry, Enduro Composites Inc., Fibrex Corporation, Future Pipe Industries, Graphite India Limited, Abu Dhabi Pipe Factory LLC., Gruppo Sarplast S.r.l., Saudi Arabian Amiantit Company, Smithline Reinforced Composites, Technobell Technology, Chemical Process Piping Pvt. Ltd., Plasticon Composites, Beetle Plastics, and Dubai Pipes Factory Co.
The global glass reinforced plastics (GRP) pipes market is expected to grow from $4.84 billion in 2022 to $5.24 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The glass reinforced plastics (GRP) pipes market is expected to grow to $6.55 billion in 2027 at a CAGR of 5.7%.
The glass-reinforced plastic pipe market consists of sales of glass - fibre reinforced unsaturated polyester and phenolic resin . Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Glass-reinforced plastic pipe refers to a type of composite pipe that is made up of a thermosetting resin matrix and glass fiber reinforcement. The reinforcement adds strength and stiffness to the pipes, while the matrix protects the fibers from damage. The glass-reinforced plastics (GRP) pipes are used in sewer systems, drainage pipes, potable water lines, industrial pipe systems, and so on.
Asia-Pacific was the largest region in the glass reinforced plastics market in 2022. The regions covered in the glass reinforced plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of resins in glass reinforced plastics (GRP) pipes are epoxy, polyester, vinyl ester, and others. Epoxy is material used for manufacturing pipes. These pipes are used for transportation of liquid purposes in the chemical and oil and gas industries. Epoxy resin is a kind of polymer and reactive prepolymer that contains epoxide groups. The various applications are water treatment, sewage piping, oil and gas pipes, chemical processing, pumping systems, marine and offshore, and other applications. The various end-use industries are chemical industry, oil and gas industry, construction industry, wastewater, and other end-users.
The increasing demand for oil and natural gas is expected to propel the glass-reinforced plastic pipes market. Oil and natural gas are used as energy resources that are derived from fossil fuels formed from the underground decomposition of prehistoric organisms several to tens of millions of years. The glass-reinforced plastic pipes are used to transport natural gas and crude oil from wellheads to refineries. For instance, according to India Brand Equity Foundation (IBEF), an India-based government export promotion agency, in India, the oil demand is expected to register double growth to reach 11 million barrels per day by 2045. Therefore, the increasing demand for oil and natural gas is driving the growth of the glass-reinforced plastic pipe market.
Technological advancements are gaining popularity in the glass-reinforced plastic pipes market. The market players are concentrating their efforts on developing new technology, such as the use of an automated tape-layered machine (ATL) for joining the GRP pipes. For instance, in March 2020, according to an article published in World Scientific Publishing, a Singapore-based academic publisher, a new method is developed for joining the GRP pipes. This method involves the use of an automated process that includes using robots and has benefits such as rapid processing, reduction of manpower, and safety. The machine is an automated tape-layered machine (ATL) to improve the bonding process inside the GRP pipes.
The growing demand for energy and water resources is expected to drive the glass-reinforced plastic (GRP) pipe market. There is a high demand for energy and water resources due to an increase in population and industrialization. The glass-reinforced plastic (GRP) pipes are used in industrial application because it provides strength and stiffness to the pipes. As the demand for energy and water resource increases, the demand for glass-reinforced plastic (GRP) pipe will also increase. For instance, according to a report by the United Nations, renewable energy demand will rise by 60% by 2030 and worldwide energy consumption will increase by 50% by 2035. Therefore, the growing demand for energy and water resources will propel the glass-reinforced plastic (GRP) pipe market.
The countries covered in the Glass Reinforced Plastics (GRP) Pipes market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The glass reinforced plastics (GRP) pipes market research report is one of a series of new reports from The Business Research Company that provides glass reinforced plastics (GRP) pipes market statistics, including glass reinforced plastics (GRP) pipes industry global market size, regional shares, competitors with an glass reinforced plastics (GRP) pipes market share, detailed glass reinforced plastics (GRP) pipes market segments, market trends and opportunities, and any further data you may need to thrive in the glass reinforced plastics (GRP) pipes industry. This glass reinforced plastics (GRP) pipes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.