PUNE, India, September 9, 2015 /PRNewswire/ --
The report "FRP/GRP/GRE Pipe Market by Type of Resin (Polyester, Polyurethane, Epoxy, Others), by Fiber Type (Glass Fiber, Carbon Fiber), by Application (Oil and Gas, Sewage Pipe, Irrigation and Others) and by Region - Global Trend and Forecasts to 2020", published by MarketsandMarkets, The market for FRP Pipe in terms of value is expected to reach approximately $4 billion by 2020, growing at a significant CAGR from 2014 to 2019.
Browse 66 market data Tables and 50 Figures spread through 125 Pages and in-depth TOC on "FRP/GRP/GRE Pipe Market"
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The market report defines and segments the FRP pipe market with an analysis and forecast of the volumes and values of types such as Polyester, Polyurethane, Epoxy and others individually. Along with this, the volume & value of materials by applications such as Oil & Gas, Chemical, Sewage Pipe, Irrigation and others are also discussed.
It also identifies the driving and restraining factors for the FRP pipe market with an analysis of trends, opportunities, burning issues, and winning imperatives. The market is segmented and the volume & value have been forecasted on the basis of major regions such as North America, Asia-Pacific, Europe, and Rest of the World (RoW).
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Increase in demand of FRP from oil & gas, water & wastewater sewage, chemical, and offshore industries
A FRP pipe which shows superior mechanical properties like superior anti-corrosion properties, low conductivity, and longer lifecycles are most preferred choice for use in oil & gas, retail fuel, water & wastewater sewage, pulp & paper, chemical, marine and offshore industry. FRP pipes are currently being used in a number of fields and continuously replacing conventional PVC and metal pipes.
Oil & gas, retail fuel, water & wastewater sewage, pulp & paper, and chemical are the major end-user industry of FRP due to their lifecycle use in extreme environment. The increasing number of oil & gas, retail fuel, water & wastewater sewage, pulp & paper, chemical, marine and offshore industry in India and China is expected to drive the FRP pipe market. In 2014, Asia-Pacific was the largest market for FRP pipe in terms of value. Asia-Pacific and Europe, together accounted over 65% of the FRP pipe market value in the same year. The FRP pipe market in these regions is expected to increase aggressively in the next five years.
In 2014, the industrial applications dominated the overall FRP pipe market size. Oil & gas, retail fuel, water & wastewater sewage, pulp & paper, chemical, and offshore industry are expected to drive the market in the next five years.
Global FRP Pipe market to reach approximately $4 Billion by 2020
The market for FRP pipe in terms of value is expected to reach approximately $4 billion by 2020, growing at a significant CAGR from 2014 to 2019. The Asia-Pacific region dominated the FRP Pipe market in terms of values in 2014 and it is expected to grow at a higher CAGR, from 2015 to 2020. Rapid industrialization and urbanization has led to increase in demand of FRP pipe from oil & gas, retail fuel, water & wastewater sewage, pulp & paper, chemical, marine and offshore industry in Asia-Pacific region.
North America & Asia-Pacific accounted for more than 65% share in the FRP Pipe market in terms of value in 2014
Asia-Pacific is the prime consumer of FRP Pipe globally followed by North America. North America and Asia-Pacific together accounted for more than 65% of the FRP in terms of value in 2014. Asia-Pacific is expected to grow at a highest CAGR and secure its leading market position by 2020, with growing demand from oil & gas, retail fuel, water & wastewater sewage, pulp & paper, chemical, marine and offshore industry. In North America the use of FRP pipe continues to increase oil and gas, retail fuel, water/waste water, and sewage to replace the conventional PVC and metal pipe that shows superior mechanical properties and increase the life cycle.
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