FRP Pipe Market Market 2023 Analysis on the Basis of Growth, New Trends and Current Industry Demand

Global fiber reinforced plastic pipe market is expected to reach $3.8 billion by 2023. The growth of the FRP pipe market is mainly driven by the changing preference of consumers from iron pipes to FRP pipes, increase in demand for cost-effective piping solutions, and growing demand for these pipes from the oil and gas industry.

FRP is a composite material which is made of polymer matrix and is reinforced with different fibers like glass, carbon, and basalt. These fibers are used in various industries like aerospace, construction, and automotive.

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the market is classified into water and wastewater, chemical and industrial, oil and gas, power generation, and others. Chemical and industrial is has been the largest application category in the FRP pipe market, with an estimated contribution of more than 40.0% in 2017. This is due to the fact that in the chemical and industrial sectors, pipes which can withstand high temperatures and are corrosion resistant are required. These pipes have got the required properties and also have higher strength to weight ratio.

Globally, Asia-Pacific has been the largest FRP pipe market till now. This is attributed to the increase in construction, and oil and gas activities in the region. Additionally, increasing focus of government to improve sewage treatment facilities in the region is also driving the market growth. Sewage treatment facilities mainly rely on the use of fiber reinforced plastic pipes over the iron ones, due increased life of the former.

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These pipes are being viewed as cost effective solutions because they are able to withstand high temperatures, are corrosion resistant, and also, have high strength-to-weight ratio, which makes it easier to install these pipes in industries. Research is underway to make these pipes cost effective, which is expected to fuel the FRP pipe market growth.

Some of the major players operating in the FRP pipe industry are 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., and Sekisui Chemical Co. Ltd., Sarplast SA.

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