FRP Pipe Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
FRP Pipe Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
FRP Pipe Market Introduction
Fiber Reinforced Plastic (FRP) also known as fiber reinforced polymer is a composite material made using polymer and fiber. The fibers used are usually glass, carbon, or basalt. FRP is used on a large scale in the construction of piping systems and other type of industrial process equipment, owing to the long product life and minimum maintenance required.
Due to the corrosion resistance, FRP pipes are widely used in various industries such as petrochemical, desalination, and power generation. Moreover, FRP pipes are lightweight and can be installed with minimum field equipment and tools, thereby, making it easy to install in fields. Additionally, with a larger diameter, FRP pipe accounts for lower energy pumping cost. FRP pipe market worldwide is witnessing increasing demand for water and wastewater and oil and gas industries.
FRP Pipe Market: Notable Highlights
- Structural Technologies has launched StrongPIPE® Hybrid FRP System in response to the pipeline applications that involves repairs and renewals of large diameter pipelines. The new composite system includes the layers of reinforcing steel wire and fiber reinforced polymer to offer upgrades and repairs.
- UTComp Inc. has launched UltraAnalytix™ system for inspecting industrial equipment made using fiber reinforced plastic (FRP) and other composite materials. The system can be used for evaluating FRP components and equipment and also for inspecting new FRP components to assure the owner that the product is free of defects.
- STEULER-KCH introduced new fiber reinforced plastic piping for chloralkali electrolysis. The company has developed new-generation plastic pipes with fiber free CRB for chloralkali electrolysis.
- Advantic offers turnkey composite solutions for construction industry has deployed Strongwell’s FRP materials as an alternative to carbon steel. According to the company, FRP has emerged as the viable option for replacing secondary and miscellaneous steel.
Some of the most prominent competitors operating in the competitive landscape of global FRP pipe market include –
- China National Building Material Company Limited
- Future Pipe Industries
- Sarplast
- Ershing Inc. (Denali incorporated)
- Amaintit
- HengRun Group Co. Ltd.
- National Oilwell Varco (NOV)
- Sekisui Chemicals
- Reinforced Plastics System
- Hobas Pipe USA
FRP Pipe Market Dynamics
Rising Demand from Oil & Gas Industry Propelling FRP Pipe Market Growth
Increasing spending on exploration and production of non-conventional sources is driving the demand for the complex piping system in the Oil & Gas industry, leading to the rise in demand for FRP pipe systems. Moreover, the rise in oil and energy prices over the past few years have also supported the demand for cost-effective, reliable and high strength pipe system.
Providing corrosion and heat resistance, flexibility, stability, and durability glass fiber based composites are finding large application in the oil and gas industry in piping, frac plugs and balls, tanks and in offshore drilling. Moreover, FRP pipes are replacing conventional pipes in the oil and gas industry owing to the strength-to-weight ratio, and need low maintenance. The demand for FRP pipes made using glass fiber is rapidly growing in the offshore drilling industry. Research is also ongoing to embed strain gages, fiber optics, and smart technologies in composite structures for monitoring structural integrity.
Polyester Composites to Gain Traction Enhancing Strength and Resistance
Polyester composites are emerging as the popular composite material in FRP pipe as compared to the epoxy composites and vinyl ester composites. A thin fiber of one material such as glass, carbon, and natural fiber is embedded in polyester composites to enhance the stiffness, strength and resistance. Besides these factors, resistance to corrosion is one of the key driving factors resulting in increasing use of polyester composites in FRP pipe and other FRP materials.
The use of fiber reinforced polyester is being used on a large scale in electronic components, automotive, airplanes. Majority of the fiberglass parts including FRP pipe are developed using polyester resins owing to its tolerance of temperature, ease of use and fast curing. Manufacturers in the FRP pipe market are highly focusing on polyester component reinforced with glass fiber, especially for FRP pipes to be used in the wastewater treatment plant.
Fluctuation in Raw Material Cost and high Initial Cost of FRP Pipe to Hamper the Growth
The high initial cost of FRP pipes and fluctuating raw material prices are restraining the growth of the FRP pipe market. Moreover, advances in FRP pipe market are threatened by the saturated application in many industries due to the higher cost of FRP as compared to the metal in the long production run.
In recent years, industrial manufacturers often demanding FRP pipes or composite-linked tanks are focusing on undertaking new construction. While in some industries, the replacement is slow owing to the high cost of FRP. This is driving fabricators to focus on educating end-use industries about the benefits of FRP as compared to other materials, especially in the piping system. On the other hand, fluctuation in the cost of raw materials including polyester, vinyl, and epoxy is also hampering the growth of the FRP pipe market.
FRP Pipe Market Segmentation
Based on the material type, the FRP pipe market is segmented into
- Vinyl ester Composites
- Polyester Composites
- Epoxy Composites
On the basis of end use industry, the FRP pipe market is segmented into
- Retail Fuel
- Chemical/ Industrial
- Oil and Gas
- Water and Wastewater
- Pulp and Paper
- Sewage
- Others
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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