According to latest research, the global FRP pipe market size in terms of value is projected to grow at a CAGR of 3.5% between 2015 and 2020 to reach $4 billion by 2020.
The global FRP market, has witnessed a strong growth in the past few years. This growth is estimated to continue in the coming years due to increasing demand from Asia-Pacific. There are continues increasing demand from end-user industry from the emerging economies, such as China, Brazil and India and also from Middle East region. These are the major drivers as per the current market dynamics. Also, such demand is backed by increasing industrialization and government awareness towards water and waste water treatment. The superior mechanical and anti-corrosion properties, low conductivity, and longer lifecycles make FRP pipes a natural choice both for various applications. The North American and Rest of the World’s FRP pipe markets are expected to grow at a CAGR of 2.6-2.8% and 3.2-3.5% during 2015-2020.
Currently, Asia-Pacific is the largest consumer of FRP pipes and it will continue to drive the market. The major drivers of Asia-Pacific FRP pipe industry are growing investment towards urban infrastructure development, establishment and upgrade of airports, capacity expansion in petrochemical plants, and establishment of power plants. Increasing demand from replacement of existing metal pipe in oil and gas exploration activities to get rid of corrosion problems also drive the FRP pipe market Asia-Pacific region. Among all the countries in this region, China, Japan and India are important consumers of FRP pipe. China held the largest share in the regional consumption in terms of volume in 2014. The market size in terms of volume is comparatively low in the RoW, but is estimated to have a developing CAGR between 2015 and 2020 due to the increasing market share of Brazil and countries from Middle East region.
Almost 85% of the total FRP pipe demand in 2014 was from oil & gas, retail fuel, water & wastewater sewage, and chemical industries. This was due to their physical and mechanical properties such as superior anti-corrosion properties, low conductivity, and longer lifecycles of FRP pipes. A major application industry that uses FRP pipes is Oil & Gas which contributes major market share.
Asia-Pacific and European regions are the most active markets in terms of strategic initiatives, owing to their emerging and mature market demands, respectively. The superior end-user industry growth, amplified local manufacturing, and increased number of domestic players in vertical market segments, such as industrial applications in the Asia-Pacific region can be the important drivers in terms of consumption of the FRP pipes.
To understand the fiberglass chopped strand mat, click http://www.zccyfiberglass.com
没有评论:
发表评论