High Pressure FRP Pipe Market Trends and Forecast
The future of the global high pressure FRP pipe market looks promising with opportunities in the oil and gas, retail fuel, water/wastewater, sewage, pulp/paper, and chemical/industrial markets. The global high pressure FRP pipe market is expected to grow with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are increasing demand for corrosion-resistant piping solutions, growing need for reliable and efficient water and wastewater management systems, and rising demand for this pipe in chemical processing plants.
• Lucintel forecasts that polyester composite is expected to witness the highest growth over the forecast period.
• Within this market, chemical/industrial is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the High Pressure FRP Pipe Market
• United States: In the United States, Amiantit Fiberglass Industries Ltd. announced plans to expand its production capacity for high-pressure FRP pipes at its facilities in Texas. The company aims to meet the increasing demand for corrosion-resistant piping solutions in the oil and gas industry, targeting a 25% production increase by 2023. This initiative aligns with the U.S. government's focus on improving infrastructure resilience and reliability, as outlined in initiatives like the American Jobs Plan.
• India: In India, EPP Composites Pvt. Ltd. disclosed its strategy to enter the high-pressure FRP pipe market with a new production facility in Gujarat. The company's investment aligns with the Indian government's 'Make in India' initiative, aimed at promoting domestic manufacturing and reducing dependency on imports. EPP Composites aims to capture a significant market share in India's growing composites industry by offering high-quality FRP pipes tailored to local market needs. The company set targets to achieve a 30% increase in production capacity within the next three years.
• China: In China, Hengrun Group Co., Ltd. announced plans to develop a new line of high-pressure FRP pipes optimized for applications in the chemical and petrochemical sectors. The company aims to enhance product performance and production efficiency to meet the increasing demand for durable and corrosion-resistant piping solutions. Hengrun Group set targets to expand its market share in the global FRP pipe market by 20% by 2024, supported by government subsidies for investments in high-tech manufacturing.
• Germany: In Germany, RPC Group PLC unveiled plans to collaborate with research institutions to develop innovative high-pressure FRP pipe formulations for industrial and infrastructure applications. The company aims to leverage its expertise in material science to enhance the mechanical properties and sustainability of FRP pipes. RPC Group set targets to increase the adoption of FRP pipe technology in its manufacturing processes by 15% by 2025, supported by government funding for research and development projects.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
High Pressure FRP Pipe Market by Segment
The study includes a forecast for the global high pressure FRP pipe market by resin type, diameter, application, and region.
High Pressure FRP Pipe Market by Resin Type [Value from 2018 to 2030]:
• Polyester Composite
• Epoxy Composite
• Vinyl Ester Composite
High Pressure FRP Pipe Market by Diameter [Value from 2018 to 2030]:
• Small (<18”)
• Medium (18”-60”)
• Large (>6 0”)
High Pressure FRP Pipe Market by Application [Value from 2018 to 2030]:
• Oil and Gas
• Retail Fuel
• Water/Wastewater
• Sewage
• Pulp/Paper
• Chemical/Industrial
• Others
High Pressure FRP Pipe Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of High Pressure FRP Pipe Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies high pressure FRP pipe companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the high pressure FRP pipe companies profiled in this report include-
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Recent Development in the High Pressure FRP Pipe Market
• Future Pipe Industries (FPI): Future Pipe Industries introduced a new range of High Pressure FRP pipes designed for applications in the oil and gas industry. The company's initiative focuses on enhancing pipe durability, corrosion resistance, and pressure-bearing capacity to meet the stringent requirements of oilfield operations. FPI's High Pressure FRP pipes offer significant advantages over traditional metal pipes, including lightweight construction and resistance to corrosive substances commonly found in oil and gas production environments.
• HOBAS Group: HOBAS Group announced the development of advanced manufacturing techniques for High Pressure FRP pipes aimed at improving product performance and efficiency. The company's initiative includes investments in automation and quality control systems to ensure the production of high-quality pipes with consistent properties. HOBAS' focus on technological innovation and process optimization reflects its commitment to delivering reliable and cost-effective solutions to customers in the water and wastewater, industrial, and infrastructure sectors.
• ZCL Composites Inc.: ZCL Composites Inc. launched a comprehensive portfolio of High Pressure FRP piping solutions for various industrial applications, including chemical processing, power generation, and mining. The company's initiative emphasizes customization and engineering support to meet specific project requirements, ensuring the successful implementation of FRP piping systems in challenging environments. ZCL's High Pressure FRP pipes offer superior resistance to corrosion, abrasion, and chemical attack, making them ideal for use in harsh operating conditions where traditional materials may fail.
• Ershigs, Inc.: Ershigs, Inc. unveiled a groundbreaking High Pressure FRP pipe design featuring innovative composite materials and construction techniques. The company's initiative focuses on optimizing pipe geometry and reinforcement patterns to achieve higher pressure ratings while maintaining structural integrity and durability. Ershigs' High Pressure FRP pipes offer a cost-effective alternative to steel and concrete pipes, providing long-term performance and reliability in demanding applications such as desalination plants, power plants, and chemical processing facilities.
Features of the Global High Pressure FRP Pipe Market
Market Size Estimates: High pressure FRP pipe market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: High pressure FRP pipe market size by resin type, diameter, application, and region in terms of value ($B).
Regional Analysis: High pressure FRP pipe market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different resin types, diameters, applications, and regions for the high pressure FRP pipe market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the high pressure FRP pipe market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for high pressure FRP pipe market?
Answer: The global high pressure FRP pipe market is expected to grow with a CAGR of 4.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the high pressure FRP pipe market?
Answer: The major drivers for this market are increasing demand for corrosion-resistant piping solutions, growing need for reliable and efficient water and wastewater management systems, and rising demand for this pipe in chemical processing plants.
Q3. What are the major segments for high pressure FRP pipe market?
Answer: The future of the high pressure FRP pipe market looks promising with opportunities in the oil and gas, retail fuel, water/wastewater, sewage, pulp/paper, and chemical/industrial markets.
Q4. Who are the key high pressure FRP pipe market companies?
Answer: Some of the key high pressure FRP pipe companies are as follows:
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Q5. Which high pressure FRP pipe market segment will be the largest in future?
Answer: Lucintel forecasts that polyester composite is expected to witness the highest growth over the forecast period due to epoxy composite.
Q6. In high pressure FRP pipe market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the high pressure FRP pipe market by resin type (polyester composite, epoxy composite, and vinyl ester composite), diameter (small (<18”), medium (18”-60”), and large (>6 0”)), application (oil and gas, retail fuel, water/wastewater, sewage, pulp/paper, chemical/industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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