SAN FRANCISCO, Aug. 20, 2019 /PRNewswire/ -- The global GRP pipes market size is expected to reach USD 2.1 billion by 2025, escalating at a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc. Glass fiber reinforced plastic (GRP) pipes are lightweight, durable, and offer superior corrosion resistance and strength, which makes them suitable for use in water and wastewater transport applications.
Key suggestions from the report:
- In India, the demand for GRP pipes in irrigation application is expected to witness a growth rate of 6.1% over the forecast period owing to increasing efforts by the Indian government to offer consistent water supply to agricultural lands
- Sewage treatment segment was the second-largest application segment in 2018 and accounted for 27.0% of the overall glass fiber reinforced plastic pipe market share owing to high durability and suitability for carrying wastewater over long distances
- Asia Pacific is expected to witness the fastest growth rate over the projected period owing to the rapid growth of wastewater treatment and chemical manufacturing industries in China and India
- Europe was the second-largest regional market for GRP pipes in 2018 owing to well-established water supply infrastructure and wastewater treatment facilities across the European countries
- A large number of fiberglass pipe manufacturers are expanding their operations to provide technical services, pipe installation, and O&M activities, which, in turn, is likely to support product penetration in the market.
Read 96 page research report with TOC on "GRP Pipes Market Size, Share & Trends Analysis Report By Application (Oil & Gas, Chemicals, Sewage, Irrigation), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecast, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/grp-pipes-market
Increasing stringent regulations on wastewater collection and treatment are likely to propel the demand for GRP pipes. These are easy to install as compared to their metal counterparts on account of their flexible nature. GRP pipes include lesser joints and can be laid over longer distances, owing to which they are usually preferred for long-distance water transportation.
Developing countries are witnessing an increase in stringent regulations on residential wastewater collection and treatment, which are expected to open new avenues for the growth of GRP pipes industry. Furthermore, mandates by the governments across developed economies to install water treatment facilities in industrial units are likely to boost the demand for GRP pipes in industrial applications. These are also suitable for the transportation of a variety of chemicals owing to their inert nature.
Furthermore, GRP pipes are suitable for use in desalination and hydropower plant. Increasing investments in the industrial sector to cater to the demand from end users are expected to propel the demand for GRP pipes and, in turn, the market growth over the projected period. Key industry players are engaged in R&D to devise enhanced anti-corrosion pipes with an ability to sustain high temperatures and pressures, which is likely to increase the product scope in O&G application. A diversified portfolio, brand reputation, and enhanced product quality were observed to be the key success factors for leading glass fiber reinforced plastic pipe market players such as Amiblu Group.
Grand View Research has segmented the global GRP pipe market on the basis of application and region:
- GRP Pipe Application Outlook (Revenue, USD Million; 2014 - 2025)
- Oil & Gas
- GRP Pipe Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America (CSA)
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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