Pune, June 07, 2021 (GLOBE NEWSWIRE) – Market analysis for GRP pipes / Market outlook for GRP pipes
The global market size for GRP pipes is expected to be 9.65 billion in the forecast period (2020-2027). There are different types based on resin such as vinyl ester, polyester and epoxy. Because of its seductive properties and multiple benefits, it is widely used in irrigation, wastewater treatment, chemicals, and oil and gas.
Enhanced features that drive market growth
According to the MRFR report, there are numerous factors driving the global GRP pipe market share. Some of these are linked to the growth in the petroleum industry, awareness of the seductive properties of these pipes such as light weight, inherent strength, durability, high strength and insensitivity to adverse weather conditions which make it perfect for outdoor use, high resistance to chemical corrosion, simple to install and manufacture and have excellent hydraulic properties. Additional factors driving sales of the global GRP pipe market include: precision coupling, long service life, growing demand for lightweight, durable and high strength piping for sewage, water and chemical supply for industrial applications, increasing need for sustainable Energy, increasing global demand for water to supply viable agricultural land, growth of the chemical industry in developing countries, and growth of the oil and gas industry. Also, the growing urbanization that is fueling the utility sector is the latest trend in the GRP pipe market.
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On the contrary, brittleness, which causes structural damage and repairs and maintenance that require skilled labor, can limit the global market value of GRP pipes over the forecast period.
COVID-19 analysis
The market for GRP pipes was severely disrupted by the COVID-19 crisis. Government restrictions on landfill, combined with fluctuating raw material costs, can hinder market growth. The outbreak had a huge impact on market growth resulting in a decline in the consumption of piping and fittings in the end user industries. In addition, supply chain disruptions and labor shortages reduced the value of new contracts on property construction projects during the period. A drop in consumption has forced industry players to reduce inventory levels and costs. Product manufacturers have seen a decrease in raw material outflows due to the closure of factories in Asia Pacific and Europe as well as strict lockdown measures. On the supply side, too, as economic instability set in in several industries, there was an enormous decline, which led to reduced costs and inventory levels.
Market segmentation
The MRFR report highlights a comprehensive analysis of the global GRP pipes industry based on end use and resin.
According to resin, the global market for GRP pipes is divided into vinyl ester, polyester and epoxy. Of these, the epoxy resin segment will lead the market in the forecast period, as epoxy GRP pipes offer a longer service life, very high resistance to chemical corrosion and higher strength and are therefore ideal for use in the chemical and petroleum industries. Most chemical, crude oil, and petroleum wastes are transported through epoxy GRP pipes.
By end use, the global GRP Pipes market is divided into Irrigation, Wastewater Treatment, Chemicals, and Oil & Gas. Of these, the end-use segment of oil and gas will dominate the market in the forecast period. GRP pipes are mostly used to transport oil and gas over long distances. These are also used in refineries. The growth of the petroleum industry combined with the ever-increasing demand for gas and oil is driving the segment’s growth.
Regional take-away food
APAC remains at the forefront of the GRP pipe market
The global market for GRP pipes is geographically divided into Europe, North America, South America, the Asia-Pacific region and the rest of the world (RoW). Of these, the APAC region will remain at the top of the market over the forecast period. The presence of a rapidly developing economy in the region, a growing utility sector, the need to irrigate agricultural land with no natural water source nearby, the availability of skilled labor, high demand from end users, favorable government regulations force manufacturers to close their production facilities in the region, China as the largest consumer of pipes, the presence of numerous chemical companies, high population density, government focus on reducing import dependency, growing demand for GRP pipes for irrigation applications, increasing government mandates in industrial sewage collection, recycling and growing oil and gas exploration activities contributed to the global growth of the GRP pipe market in the region.
Europe holds the second largest share of the market for GRP pipes
In Europe, it is forecast that the global market for GRP pipes will hold the second largest share in the forecast period. The growing needs of the oil and gas industry and its utility sector, trenchless pipeline applications, modernization of wastewater infrastructure, transportation of gas for the upcoming construction of LNG terminals, increasing investments in regional infrastructure development, the presence of a large industrial wastewater treatment and chemical processing company in Spain, Great Britain, France and Germany, strict greenhouse gas emission standards and increasing exports of natural gas add to the global market share of GRP pipes in the region.
Browse through the detailed market research report (111 pages) Market for GRP pipes
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North America will see promising growth in the GRP pipe market
In North America, the global market for GRP pipes is forecast to see promising market growth for the growing demand from the chemical and petroleum industries.
RoW achieves solid growth in the GRP pipe market
In RoW, solid growth is forecast for the global market for GRP pipes in the forecast period. The presence of a large oil and gas industry, a growing utility sector in a rapidly urbanizing region, a booming agricultural sector, increasing spending on infrastructure development in the rapidly developing economies of Turkey, Egypt, the United Arab Emirates and Saudi Arabia as well as high Private and government spending on environmentally friendly building structures to improve the overall infrastructure is contributing to the global growth of the GRP pipe market in the region.
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Key characters
Key players featured in global GRP Pipes market report include Smit Group, LLC (USA), Beetle Plastics (USA), Enduro (USA), FIBREX – Fiberglass Pipe Manufacturer, FRP Pipes, GRP Pipes (USA) , Amiblu Holding GmbH (Austria), Weihua Group (China), Sarplast SA (Switzerland), Columbus McKinnon Corporation (USA), FLOWTITE Technology AS. (Norway), National Oilwell Varco (USA), Hengrun Group Co., Ltd. (China), Future Pipe Industries (UAE) and Saudi Arabian Amiantit Co. (Saudi Arabia).
The global market for GRP pipes is fragmented and competitive thanks to the presence of many national and international players in the industry. They have incorporated various strategies to stay on top and also address increasing customer needs including collaborations, partnerships, contracts, geographic expansions, product launches, joint ventures and more. In addition, these players invest heavily in research and development activities in order to strengthen their portfolio and assert themselves in the market.
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