May 11, 2020
According to the research report titled ‘Global FRP/GRP/GRE Pipe Market Size study, by Fiber Type (Glassfiber, Carbon Fiber), by Resin Type (Polyester, Epoxy, Vinyl-Ester, Others), by End-Use Industry (Oil & Gas, Sewage, Chemical, Irrigation, Other End-Use Industries) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global FRP/GRP/GRE pipe market accrued USD 3531.39 million in 2018 and is expected to record a y-o-y growth rate of 4.1% during 2019-2026.
Notably, FRP/GRP/GRE pipes are widely used in applications such as portable & sewage water transportation pipes, marine and petrochemical industries, dredging, chemical plants, fire mains, oil explorations and desalination.
Increasing infrastructural development in emerging nations is a major factor driving worldwide FRP/GRP/GRE pipe industry. The market is expected to further expand owing to rising adoption of non-corrosive pipes in oil & gas industries. In 2018, for instance, the Indian government allocated USD 9.8 billion to lay out gas pipelines throughout the country as well as to develop a gas network to Myanmar via Bangladesh. Additionally, rising modernization activities of existing infrastructure is fostering the demand for low maintenance and easy installation pipes, hence stimulating the industry outlook. However, high cost of developing large scale manufacturing units may restrain the market expansion.
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As per fiber type, the market is split into carbon fiber and glass fiber. In terms of resin type, FRP/GRP/GRE pipe industry is divided into vinyl-ester, epoxy, polyester and others, whereas based on end-use spectrum, the market is bifurcated into irrigation, chemical, sewage, oil & gas and others.
As per the regional scope, FRP/GRP/GRE pipe market in Asia-Pacific is estimated to register a robust CAGR during the forecast period, primarily due to growing demand for FRP pipes in China and India and escalating investments in infrastructural development.
Enduro Composites Inc., Abu Dhabi Pipe Factory, Graphite India Ltd., The Hobbs Group, Future Pipe Industries, ZCL Composites, Hengrun Group Co. Ltd., Saudi Arabian Amiantit Co. and National Oilwell Varco (NOV) among others are the major companies in global FRP/GRP/GRE pipe market.