GRP Pipe Market Size, Share, Growth, Forecast and Outlook (2024-2031)

Global GRP Pipe Market Expected to Reach $2.5 Billion by 2031, Reports Industry Analysis

The global GRP Pipe Market, which reached a valuation of US$ 1.9 billion in 2023, is anticipated to witness substantial growth, projecting to attain US$ 2.5 billion by 2031. According to industry analysts, this growth trajectory reflects a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period spanning from 2024 to 2031.

Over the past decade, the GRP pipe market has experienced significant expansion, a trend expected to persist in the forecasted period. This growth is primarily attributed to the escalating demand for durable and corrosion-resistant piping systems across various industries worldwide. Notably, European countries grappling with aging infrastructure and urbanization challenges are making substantial investments to modernize their water and wastewater systems.

A prime example of such investment occurred in March 2023 when the European Investment Bank and the EU provided €14 million in support to enhance water network infrastructure on São Tomé Island. This initiative, aligning with the EU's Global Gateway policy, aims to bolster the island nation's economy, society, and ecology while serving local communities. As a result, Europe emerges as a key contributor to the global market, securing nearly one-third of the market share.

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Market Dynamics:

Enhancing Wastewater Infrastructure:

The imperative to enhance and expand wastewater treatment infrastructure, driven by increasing urbanization and water industry demands, underscores the necessity for high-quality piping solutions. GRP pipes emerge as the preferred choice due to their corrosion resistance and extended lifespan. Rising investments in water and wastewater management infrastructure globally, particularly for stormwater management, sewage systems, and potable water distribution, fuel the demand for GRP pipes.

ESEN GRP pipes, renowned for their exceptional quality, performance, and longevity, find extensive application in diverse infrastructure projects. ESEN specializes in developing composite pipe systems suitable for various applications and industries. With a proven track record of effectively transferring corrosive fluids, including chemicals, ESEN GRP pipes play a pivotal role in safeguarding the environment and public health.

Expansion in Emerging Markets:

The establishment of new manufacturing facilities in emerging markets presents lucrative opportunities for GRP pipe manufacturers to penetrate untapped regions. Rapid industrialization and infrastructure development in these economies drive significant demand for water and wastewater management systems.

In September 2023, the Prime Minister of Iraq inaugurated the Narjis Pipe Factory, marking Iraq's first manufacturing facility for glass-reinforced plastic pipes. Equipped with advanced machinery, inspection tools, raw materials, and related technology, the factory aims to eliminate the need for pipe imports and support essential infrastructural projects.

Competitive Pressure from Alternative Materials:

Despite the advantages of GRP pipes, competitive pressure from alternative materials such as steel, concrete, and PVC poses challenges. Cost considerations often influence consumer choices, particularly in large-scale infrastructure projects.

Advancements in materials science may lead to the emergence of substitute materials boasting comparable or superior attributes to GRP pipes. Developments in composite materials could yield pipes with enhanced strength-to-weight ratios or superior chemical resistance, potentially diminishing the appeal of GRP pipes in certain applications.

Segment Analysis:

The global GRP pipe market is segmented based on type, diameter, pressure, stiffness, application, and region.

Benefits of GRP Pipes in Agriculture Drive Segmental Growth:

In 2023, the irrigation segment accounted for the highest revenue share, approximately 35.5%. GRP pipes offer numerous advantages in irrigation applications, including exceptional corrosion resistance, crucial for delivering water without degradation. Their smooth inside surfaces and corrosion resistance facilitate efficient water flow, minimizing losses due to leaks or blockages. Consequently, GRP pipes are preferred for agricultural irrigation and drinking water transmission due to their efficiency, adaptability, and sustainability.

Geographical Penetration:

Technological Innovation Driving Sustainable Growth in North American Product Market:

North American manufacturers are at the forefront of innovating and upgrading GRP pipe manufacturing techniques, resulting in higher-quality products with superior performance characteristics. Advanced techniques such as filament winding and continuous lamination are employed to tailor GRP pipes to diverse applications.

With a growing emphasis on environmental responsibility in North America, GRP pipes emerge as eco-friendly alternatives to conventional materials like steel and concrete. Their reduced carbon footprint, lower energy consumption during production, and recyclability align with sustainability objectives in infrastructure projects. Consequently, the North American product market is poised to significantly contribute to the global GRP pipe market growth.

Competitive Landscape:

Key players dominating the global market include Esen Plastik, Future Pipe Industries, HOBAS, Graphite India Limited, Sarplast, Graphite Cova, Flowtite Technology AG, Amiblu Holding GmbH, Enduro Composites, and Fibrex Corporation.

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