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Industry Insights, Market Size, CAGR, High-Level Analysis: Glass Fiber Reinforced Plastic Pipes MarketThe global GRP pipes market size was estimated at USD 1.6 billion in 2018 and is expected to grow at a CAGR of 3.7% from 2019 to 2025. Rising demand for high strength, durable, and lightweight pipelines for water, wastewater, and chemical supply for industrial applications are expected to drive the industry growth over the forecast period. At present, very few major manufacturers dominate the glass fiber reinforced plastic (GRP) pipes industry with robust manufacturing facilities and widespread geographic distribution. High initial investments and operational costs associated with the manufacturing of GRP pipes are likely to be the major entry barriers for new market players. The U.S. has emerged as one of the largest markets for GRP pipes in North America owing to high investments by the government in water treatment and potable water supply industry. Increasing shale gas exploration activities in the country, which demand durable piping solutions, are likely to have a positive impact on the growth of GRP pipes market over the projected period. Manufacturers tend to offer standard product lines as the costs associated with fabrication and the engineering involved in custom product manufacturing are very high. However, they also provide custom GRP pipes for specific application industries, which are usually manufactured based on the requirements presented by end users. Filament winding and centrifugal casting were the most widely used techniques for GRP pipe manufacturing as of 2018. The centrifugal method, wherein the outer pipe diameter is constant, produces a high-quality product. However, the process is highly labor-intensive and not cost-effective, which is likely to hamper its demand. The European Union (EU) has laid down Safety Glass Directives for GRP piping utilized in construction, water treatment, and automotive applications. The directive also covers the fitting and installation of these products. The pipes adhere to stringent regulations pertaining to the mechanical and chemical strength.
Application Insights of Glass Fiber Reinforced Plastic Pipes MarketGRP pipes are widely used in sewage treatment facilities on account of their ability to resist corrosion caused by toxic chemicals during the treatment. Increasing government mandates on industrial effluent collection, processing, and recycling are expected to propel the demand for the product over the projected period. Irrigation application segment accounted for the largest market share in 2018 and is anticipated to grow at a CAGR of 4.1% over the forecast period. Growth of the agricultural sector to support the rising demand for food is expected to propel the demand for well-established water infrastructure, which, in turn, is likely to positively impact the glass fiber reinforced plastic pipes market growth. Chemicals application segment generated a revenue share of USD 159.6 million in 2018 and is expected to reach USD 194.0 million by 2025, progressing at a CAGR of 2.8% over the forecast period. Rapid growth of the chemical sector in Asia Pacific to cater to the pharmaceutical, food & beverage, and electrical & electronics industries is expected to have a positive impact on the market growth. Oil & gas application segment is expected to grow at a CAGR of 3.4% over the forecast period. Recovery of oil & gas supply operations from early 2018 and increasing oil & gas exploration activities are likely to drive the demand for GRP pipes in the coming years. However, at present, GRE pipes dominate the oil & gas application, which is likely to hamper the market.
Regional Insights of Glass Fiber Reinforced Plastic Pipes MarketAsia Pacific dominated the industry in 2018 and is expected to be the leading market for grp pipes over the forecast period. India is expected to be the fastest-growing market for GRP pipes in the region. Availability of skilled labor, favorable government regulations, and high demand from end users are likely to compel manufacturers to set up their production facilities in this region. China was the largest consumer of the pipes in Asia Pacific owing to the presence of numerous chemical manufacturing companies in the country. High population density and the governments focus on reducing dependency on imports are driving the agricultural sector in the country. As a result, the demand for GRP pipes for use in irrigation application is expected to rise over the projected period. The product demand in South Korea was valued at USD 46.5 million in 2018 and is anticipated to reach USD 54.4 million by 2025, accelerating at a CAGR of 2.3% over the forecast period. The presence of major chemical manufacturing companies in the country including LG Chem, Lotte Chemical, Hanwha Chemical, and SK Chemicals is likely to support the growth. Germany accounted for a share of 21.4% in the regional revenue in 2018. Trenchless piping applications and sewer infrastructure upgrade are the key factors contributing to the glass fiber reinforced plastic pipes market growth in the country. Moreover, the transportation of gas for the upcoming establishment of LNG terminals in the country is likely to aid industry growth.
GRP Pipes Market Share InsightsThe industry is highly competitive with a low number of manufacturers competing on the basis of product quality and distribution network. Increasing efforts by manufacturers toward quality enhancement and new product development are likely to trigger the demand for GRP pipes across various application industries. Strategies such as diversified portfolio, brand reputation, and enhanced product quality are considered to be the key success factors in the market. Amiblu Group; Saudi Arabian Amiantit Co.; Abu Dhabi Pipe Factory; Hengrun Group Co., Ltd.; and Graphite India Limited are the key players in the industry. Major players are expected to invest in strategies such as joint ventures, mergers & acquisitions, and long-term contracts with users to gain a competitive advantage and sustain in the competitive market.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Glass Fiber Reinforced Plastic Pipes Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global GRP pipes market report on the basis of application and region:
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Oil & Gas
Table of Contents Chapter 1 Methodology & Report Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 Information Procurement 1.3.1 Purchased Database 1.3.2 GVR’s Internal Database 1.3.3 Secondary Sources 1.3.4 Third Party Perspective 1.3.5 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation and Data Visualiz | read more...