The Fibre Reinforced Plastic Pipes Market was at US$ 2.2 Bn in 2021 and is growing to approx US$ 3.9 Bn by 2030, with a CAGR growth of 6.7% between 2022-2030.

SANDY, UTAH, UNITED STATES, January 30, 2023 /EINPresswire.com/ -- According to the study, The Global Fibre Reinforced Plastic Pipes Market was estimated at USD 2.2 Billion in 2021 and is anticipated to reach around USD 3.9 Billion by 2030, growing at a CAGR of roughly 6.7% between 2022 and 2030.

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Fibre Reinforced Plastic Pipes Market: Overview

The FRP, or reinforced plastic, is a sophisticated material of a complex polymer matrix reinforced with various fiber types, such as glass, carbon, basalt, etc. The polymer becomes a reinforced polymer after being combined with fiber. Numerous industries use these fibers, including aerospace, building, and automobiles.

The wrapping of glass using fiber filaments to create the FRP pipes results in non-metallic materials. Epoxy resin and a heat-curing agent are blended to create these fibers. The FRP pipes are used in piping systems, tankers, ship compartments, etc. The pipe’s diameter and bending angle change depending on the need.

Fibre Reinforced Plastic Pipes Market: Growth Drivers

The innovation process in the production of FRP pipes accelerated the market expansion for polymers across various regions. Additionally, the increase in oil exploration operations is one of the key elements influencing the market’s growth.

Global demand for FRP pipes has increased as a result of technological advances made in response to the needs of a large customer base.

The market growth for FRP polymers is driven by a significant demand for dependable, lightweight pipes that are also produced at a low cost. In addition, FRP pipes are reliable for use across many industries, including oil and gas, thanks to their necessary qualities.

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Key Insights:

A) As per the analysis shared by our research analyst, the Fibre Reinforced Plastic Pipes market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2022-2030).
B) In terms of revenue, the Fibre Reinforced Plastic Pipes market size was valued at around USD 2.2 Billion in 2021 and is projected to reach USD 3.9 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The increase in environmental concerns regarding the recycling process can hamper the market growth for FRP polymers. The recycling of FRP composites is a severe concern for the environment. Moreover, the fluctuating price of the raw materials for manufacturing reinforced pipes can restrain the market growth for FRP polymers.
D) The FRP-based industries hold ample opportunities for several other companies to flourish, including the end-user industries. Moreover, as per the increase in popularity for the wide usage of FRP polymers, various FRP-based industries tend to upgrade their level in the market, which can be helpful for market growth.
E) The processing of reinforced fiber polymers is a crucial but complex process that can create numerous challenges in the growth of the FRP pipes market. Before the preparation, the estimation of the accurate measurements along with the degree of hardness should be done for the proper production.

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Regional Landscape

The Asia-Pacific took the lead in the RFP market in the region in 2021 and is expected to maintain this lead during the projected period. The rapid development of oil and gas operations in Asia-Pacific and the rapid increase of construction activities are responsible for the market growth in those areas.

Additionally, the high R&D activity investments and technological breakthroughs in these areas play a significant role in the market expansion. China accounts for the most critical market share in APAC, accounting for 39% of total market revenue. Numerous construction sectors in China use FRP composites.

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Key Players

Enduro Composites Inc.
Ershigs Inc. (Denali incorporated)
Fibrex FRP piping systems
National Oilwell Varco Inc.
Sarplast SA
Saudi Arabian Amiantit Company
Sekisui Chemical Co. ltd.
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.


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The Fibre Reinforced Plastic Pipes Market is segmented as follows:

By Type

Glass fibre
Carbon fibre
Aramid
Basalt

By End-Use

Chemical industry
Sewage industry
Irrigation industry
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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