GRP Pipes Market is expected to gain an unprecedented volume of USD 8.66 Billio

The Global GRP Pipes Market is expected to grow to USD 8.66 Billion by 2025 at a CAGR of 5.16%.

Market Synopsis

The gass fiber reinforced plastic (GRP) pipes market is growing due to the growth in the petroleum industry, its excellent utility for transporting chemicals, a worldwide emphasis on public utilities as well as for transporting water to be used for irrigation purposes.

GRP pipes offer inherent strength, are lightweight and are impervious to adverse weather conditions, making them ideal for outdoor purposes. They are very resistant to corrosion from chemicals and are easy to manufacture and install. They offer superior hydraulic characteristics, can be precision coupled, and have a very long service life.

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Key Players

• Saudi Arabian Amiantit Co. (Saudi Arabia)
• Future Pipe Industries (UAE)
• Hengrun Group Co., Ltd. (China)
• National Oilwell Varco (US)
• FLOWTITE Technology AS. (Norway)
• Columbus McKinnon Corporation (US)
• Sarplast SA (Switzerland)
• Weihua Group (China)
• Amiblu Holding GmbH (Austria)
• FIBREX - Fiberglass Pipe Manufacturer, FRP Pipes, GRP Pipes (US)
• Enduro (US)
• Beetle Plastics (US)
• Smit Group, LLC (US)

Market Drivers

• Growth of the oil & gas industry
• Growth of the chemical industry in developing nations
• Increasing worldwide demand for ensuring water supply to viable agricultural land.
• Rapid urbanization spurring the utility sector

GRP Pipe Market Segmentation

By Resin:

The GRP pipes market can be divided based on their constituent resin into three categories, namely epoxy, polyester, and vinyl ester. Of the three, the largest market share belongs to epoxy GRP pipes due to their utility in the petroleum and chemical industries. Epoxy GRP pipes offer enhanced strength, great corrosion resistance against both chemicals and the environment, as well as a very long service life. They are used to transport crude oil, petroleum, gas, chemicals, and chemical waste. Polyester GRP pipes are inferior to epoxy GRP pipes in all categories except cost and ease of manufacturing. This ensures the use of polyester GRP pipes within the utility and agricultural sectors.

By End-Use:

The oil & gas industry is the largest market within this segment, and it is rapidly growing. Oil and gas transportation is carried out either by pipelines or by tankers, with pipelines being far more cost-effective. More than 70% of the of the crude oil & gas within the US was shipped by pipelines in 2014. Innovations in the GRP pipes market is ensuring the steady growth of this percentage and it is acting as a driver for this market. Chemical industries see much value in GRP pipes due to their corrosion resistance.