Global FRP Pipe Market Trend Forecast 2015-2020
According to a new market report published by Lucintel, the future of the global FRP pipe market looksstable with opportunities in the water/wastewater, chemical/industrial, and onshore oil & gas industries.The global FRP pipe market is forecast to grow at a CAGR of 3.1% from 2015 to 2020. The majordrivers of growth for this market are an increase in construction of water supply system, development ofsewage treatment, increasing shale gas exploration activities, and the expanding offshore oil and gasindustry. Growth of further demand in key end-use industries, including water/wastewater,chemical/industrial, and onshore oil & gas, is expected to remain a key driving factor for the global FRPpipe market.
In this market, polyester composites, vinyl ester composites, and epoxy composites are the productforms of FRP pipes. Lucintel adds that the demand for polyester composite pipes is expected toexperience the highest growth in the forecast period, supported by growing demand inwater/wastewater and sewage applications. On the basis of its comprehensive research, Lucintelforecasts that water/wastewater, chemical/industrial, and sewage industries are expected to showabove average growth during the forecast period.
Within the FRP pipe market, onshore oil and gas is expected to emerge as the leading market by valueand volume consumption, after chemical/industrial applications. The growth of oil and gas explorationactivities and boom in shale gas production in the onshore oil & gas industry is expected to spur growthfor this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the growth in end use applications, such aswater/waste water and chemical/ industrial. Asia Pacific and Rest of the World are expected to growsignificantly by virtue of growing water and wastewater applications, especially in China and India, dueto increasing urban population and high growth in building and infrastructure development. Chemicalindustries are shifting their production bases towards low cost regions and where there is a highdemand for chemicals.
For market expansion, the report suggests innovation and new product development where the uniquecharacteristics of FRP pipes can be capitalized. The report further suggests companies are opting formerger and acquisition initiatives for driving growth. Emerging trends, which have a direct impact on thedynamics of the industry, include the use of FRP pipes in the desalination sector, fume, duct andscrubbers. Future Pipe Industries, National Oilwell Varco, Amiantit, Hobas, and Hengrun Group areamong the major manufacturers of FRP pipes.pipe market by end use industry, material type, and region and has come up with a comprehensiveresearch report, “Global FRP Pipe Market 2015-2020: Trends, Forecast and OpportunityAnalysis.” The Lucintel report serves as a springboard for growth strategies, as it provides acomprehensive data and analysis on trends, key drivers, and directions. The study includes forecast ofthe global FRP pipe market through 2020, segmented by end-use industry, material, and region asfollows:
By end use industry (Volume [Million Pounds/Kiloton] and $ Million shipment from 2009 to 2020):