Trusted Business Insights presents the Latest Study on Glass Fiber Reinforced Plastic (GRP) Piping Systems Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Glass Fiber Reinforced Plastic (GRP) Piping Systems Market
The global Glass Fiber Reinforced Plastic piping systems market size was estimated at USD 1.69 billion in 2017, registering a CAGR of 5.5% over the forecast period. Increasing penetration of GRP piping systems in onshore and offshore oilfields is expected to drive the product demand.
Glass fiber reinforced plastics piping systems are employed in the oil and gas industry for subsea piping systems, floating production storage, offshore platform piping systems, gas transmission lines, injection lines for gas and water, flow lines, crude oil transmission, exploration, and refinery piping systems. The rising hydrocarbon exploration and production activities are expected to propel the demand over the forecast period.
A rise in crude oil production particularly in Middle East and Africa and North America, in both onshore and offshore oilfields is expected to drive the market growth. In addition, the substantial increase in production in the associated oil and gas reserves globally is likely to impact the demand positively.
Furthermore, the market is governed by strict regulations for the product use in construction and automobile applications. Specialty GRP piping systems products are expected to comply with the U.S. Leadership in Energy and Environmental Design (LEED) standards to be used for green buildings.
Soda ash, pitch resins, polyacrylonitrile fibers (PAN), rayon, and silica sand are among key raw materials used in product manufacturing. Fluctuation in the prices for raw materials causes a variation in the rates for end-product as well. This factor is expected to hinder growth of the Glass Fiber Reinforced Plastics (GRP) piping systems market over the forecast period.
Market Segmentation, Outlook & Viewpoint: Global Glass Fiber Reinforced Plastic (GRP) Piping Systems Market
Material Market Segmentation & Outlook (Revenue, USD Million, 2013 – 2025)
Product Market Segmentation & Outlook (Revenue, USD Million, 2013 – 2025)
Key Players, Recent Developments & Regional Insights: Global Glass Fiber Reinforced Plastic (GRP) Piping Systems Market
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Glass fiber reinforced plastics products are preferred over conventional metal and fiber reinforced polymer products owing to their enhanced properties, such as anti-corrosion, high UV resistance, high load bearing capacity, high strength and durability, and high abrasion resistance. These products include pipes, blinds, elbows, nozzles, reducers, and tees.
Pipes accounted for over 76.2% of the global market share in terms of revenue in 2017 on account of its utilization in the oil and gas industry, which is subjected to high corrosion due to the high water to oil ratios. Rising demand for anti-corrosive pipes in oil and gas refineries and desalination plants is expected to propel growth of the GRP market over the forecast period.
Blinds manufactured using GRP are resistant to varying pressures, temperatures, and turbulence along with high durability. In addition, the flame retardant properties exhibited by these blinds aid its adoption in various applications in the oil and gas industry, transfer flammable fluids, thereby augmenting the product demand.
Glass fiber reinforced plastics nozzles have enhanced properties inclduing leak tight, anti-corrosive, abrasion resistant, and pressure resistant. These nozzles are installed by the cold tapping method, wherein an existing depressurized and empty pipe is fitted with the nozzle. Furthermore, GRP reducers are resistant to high pressure and temperatures, along with high UV resistance, which is anticipated to augment the growth over the forecast period.
Traditional pipeline construction has been a long-term undertaking, which has not met the pace of the rapidly increasing onshore domestic crude oil production in North America. The region contributed to 23.2% of the global market share in terms of revenue in 2017 on account of the presence of a large number of companies providing chemical processing solutions and industrial effluent water treatment.
Decreasing oil and gas consumption, owing to a shift of economy towards less Greenhouse Gas (GHG) emissions and investments in chemical and sewage industries, is expected to drive demand in Europe. Epoxy glass fiber reinforced plastics pipes are projected to witness a growth in demand owing to an increase in natural gas exports from the European countries, such as Germany and U.K.
The market in Central and South America is influenced by the import of primary energy inputs through an extensive pipeline network. In addition, the rapid growth of end-user industries including oil and gas, water treatment, automotive, and construction in the emerging economies, such as Brazil and Argentina, is expected to propel the regional demand.
Fiberglass pipes market in Middle East and Africa is dominated by oil and gas exports and processing in the Middle East countries and irrigation industry in Africa. Moreover, rising concerns regarding environmental impacts coupled with cost-intensive nature of waste disposal processes in offshore projects are anticipated to drive the demand for oilfield services, and thereby the need for glass fiber reinforced plastics piping systems products over the forecast period.
Glass Fiber Reinforced Plastic (GRP) Piping systems Market Share Insights
The market is competitive with the presence of a large number of market players equipped with niche technologies. Established players, such as PPG Industries Inc., Saudi Arabian Amiantit Co., and HOBAS, are investing in R & D to enhance their product portfolio and market position.
Manufacturers have been adopting various strategies, such as new product development, partnerships, agreements, collaborations, and joint ventures to increase their market penetration and to cater to the changing technological requirements of end-use applications.
Key Insights Covered: Global Glass Fiber Reinforced Plastic (GRP) Piping Systems Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Glass Fiber Reinforced Plastic (GRP) Piping Systems industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Glass Fiber Reinforced Plastic (GRP) Piping Systems industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Glass Fiber Reinforced Plastic (GRP) Piping Systems industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Glass Fiber Reinforced Plastic (GRP) Piping Systems industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Glass Fiber Reinforced Plastic (GRP) Piping Systems industry.
Research Methodology: Global Glass Fiber Reinforced Plastic (GRP) Piping Systems Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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