NEW YORK, March 21, 2018 (GLOBE NEWSWIRE) — According to the new research report published by P&S Market Research, global fiber reinforced plastic pipe market is expected to reach $3.8 billion by 2023, the growth of the FRP pipe market is mainly driven by the changing preference of consumers from iron pipes to FRP pipes, increase in demand for cost-effective piping solutions, and growing demand for these pipes from the oil and gas industry.
FRP is a composite material which is made of polymer matrix and is reinforced with different fibers like glass, carbon, and basalt. These fibers are used in various industries like aerospace, construction, and automotive.
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On the basis of type, the market is categorized into polyester, polyurethane, epoxy, and others. Epoxy is the largest category in the FRP pipe market, due to these pipes being very environment friendly as compared to other materials.
On the basis of process, the FRP pipe market can be segmented into centrifugal casting, filament winding, pultrusion, and others. Filament winding has been the largest category till now. This is due to the fact that the winding process is quite easy and filament winding can be well suited to automation without the need of any human intervention. Most of the industries are now accepting this process because it is resulting in cost effectiveness and there are less chances of human error.
Globally, Asia-Pacific has been the largest FRP pipe market till now. This is attributed to the increase in construction, and oil and gas activities in the region. Additionally, increasing focus of government to improve sewage treatment facilities in the region is also driving the market growth. Sewage treatment facilities mainly rely on the use of fiber reinforced plastic pipes over the iron ones, due increased life of the former.
Browse report overview with 91 tables and 51 figures spread through 130 pages and detailed TOC on “Fiber Reinforced Plastics (FRP) Pipe Market” At: https://www.psmarketresearch.com/market-analysis/frp-pipe-market
Europe has been recording the second highest revenue share in the FRP pipe market till now, led by increase in construction activities in last few years in the region, and people have been resorting to the use of fiber reinforced pipes for their better thermal resistant power.
Some of the major players operating in the FRP pipe industry are Saudi Arabian Amiantit Company, Chemical Process Piping Pvt. Ltd., China National Building Material Company Limited, Ershigs Inc., Future Pipes Industries L.L.C., Hengrun Group Co. Ltd., HOBAS, National Oilwell Varco Inc., and Sekisui Chemical Co. Ltd., Sarplast SA.
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