FRP Pipe Market to Grow at 3 percent
Over the recent years, the global Fibre Reinforced Plastic (FRP) pipes market became the best alternative for large and small diameter pipe whose application is witnessing rapid growth in diversified industries such as Oil & Gas, Industries, Water/ Waste Water and Irrigation. Although weak global economic conditions have impacted the growth of Fibre Reinforced Plastic Pipe industry in past few years but there is a rebound in the U.S. and emerging economies.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report titled “Global Fiber Reinforced Plastic (FRP) Pipe Market: Analysis By Product, (GRP, GRE, GRV), By Application, By Region, By Country: Opportunities and Forecast (2011-2021)”, the report aims to present the analysis of Global Fiber Reinforced Plastic Pipes Market on the basis of Analysis By Product (Glass Reinforced polyester-GRP, Glass Reinforced Epoxy-GRE and Glass Reinforced Vinyl-GRV), By Application (Oil & Gas, Irrigation, Industries, Water/waste water, Others), By Region (North America, Europe, APAC and ROW) and By Country (U.S, Canada, U.K, Germany, Japan, China, India, ROW).
The global FRP pipe market is projected to display growth represented by a CAGR of 3% during 2016 – 2021, chiefly driven by expanding emerging regions like APAC and support by United States and 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 for various applications. The Asia Pacific and North America FRP pipe markets are expected to grow at a CAGR of 4.7% and 2.4% respectively during 2016-2021.