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Kenneth Research recently added a report on the Global FRP/GRP/GRE Pipe Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global FRP/GRP/GRE Pipe Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global FRP/GRP/GRE Pipe Market is valued approximately USD 3531.39 million in 2018 and is anticipated to grow with a healthy growth rate of more than 4.10% over the forecast period 2019-2026. FRP/GRP/GRE Pipes find application in sewage and portable water transportation pipes, desalination, oil exploration, fire mains, chemical plants, dredging, petrochemical and marine industries. The growing infrastructure development in emerging economies is expected to drive the FRP/GRP/GRE pipe market growth. Further, rising demand for non-corrosive pipes in oil and gas industry for offshore application is also boosting the market growth. For instance, in December 2018, the government of India initiated a fund of USD 9.8 billion to spread gas pipelines across the country and to expand gas network to Myanmar through Bangladesh. The ageing of buildings in urban areas is resulting in the increase in expenditure in repair and maintenance of buildings thus generating demand for easy installation and least maintenance pipes. FRP/GRP/GRE pipe will see a significant rise in the market size owing to the aforementioned factors. Moreover, increasing demand of pipes from emerging economies is a major factor likely to create lucrative growth opportunity to the market in the upcoming years. For instance, a mega city project in Saudi Arabia named 'Neom' was announced in October 2017 with an estimated investment of USD 500 billion located in the desert bordering the Red sea. However, the high cost of setting up large scale manufacturing units is expected to hinder the growth of the FRP/GRP/GRE pipe market over the forecast period.
The regional analysis of global FRP/GRP/GRE Pipe Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the increasing demand of FRP pipes from emerging economies like India and China. Also, the increasing government spending on infrastructural projects is contributing to the growth of market in Asia- Pacific region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
Major market player included in this report are:
National Oilwell Varco (Nov)
Saudi Arabian Amiantit Co
ZCL Composites
Future Pipe Industries
The Hobas Group
Graphite India Limited
Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd (LzFRP)
Abu Dhabi Pipe Factory
Hengrun Group Co., Ltd
Enduro Composites Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Fiber Type:
Glassfiber
Carbon Fiber
By Resin Type:
Polyester
Epoxy
Vinyl-Ester
Others
By End-Use Industry:
Oil & Gas
Sewage
Chemical
Irrigation
Other End-Use Industries
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2022 to 2031
Target Audience of the Global FRP/GRP/GRE Pipe Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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