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The Fibre Reinforced Plastic Pipes Market was at US$ 2.2 Bn in 2021 and is growing to approx US$ 3.9 Bn by 2030, with a CAGR growth of 6.7% between 2022 - 2030.

SANDY, UTAH, UNITED STATES, November 9, 2022 /EINPresswire.com/ -- According to the study, The Global Fibre Reinforced Plastic Pipes Market was estimated at USD 2.2 Billion in 2021 and is anticipated to reach around USD 3.9 Billion by 2030, growing at a CAGR of roughly 6.7% between 2022 and 2030.

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Fibre Reinforced Plastic Pipes Market: Overview

The FRP, or reinforced plastic, is a sophisticated material of a complex polymer matrix reinforced with various fiber types, such as glass, carbon, basalt, etc. The polymer becomes a reinforced polymer after being combined with fiber. Numerous industries use these fibers, including aerospace, building, and automobiles.

The wrapping of glass using fiber filaments to create the FRP pipes results in non-metallic materials. Epoxy resin and a heat-curing agent are blended to create these fibers. The FRP pipes are used in piping systems, tankers, ship compartments, etc. The pipe’s diameter and bending angle change depending on the need.

Fibre Reinforced Plastic Pipes Market: Growth Drivers

The speedy innovation process and the increase in oil exploration activities drive market growth.

The innovation process in the production of FRP pipes accelerated the market expansion for polymers across various regions. Additionally, the increase in oil exploration operations is one of the key elements influencing the market’s growth.

The increase in technological advancements drives the market growth

Global demand for FRP pipes has increased as a result of technological advances made in response to the needs of a large customer base.

The increased investments in R&D activities propel the market growth

The industry is poised to grow both in the foreseeable term and during the forecast period due to rising investments in research and development activities and the rise of significant players in this industry.

The increased demand and popularity of reliable and lightweight FRP pipes fuel the market growth.

The market growth for FRP polymers is driven by a significant demand for dependable, lightweight pipes that are also produced at a low cost. In addition, FRP pipes are reliable for use across many industries, including oil and gas, thanks to their necessary qualities.

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Key Insights:

A) As per the analysis shared by our research analyst, the Fibre Reinforced Plastic Pipes market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2022-2030).
B) In terms of revenue, the Fibre Reinforced Plastic Pipes market was valued at around USD 2.2 Billion in 2021 and is projected to reach USD 3.9 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on type, the glass fiber segment dominated the market in 2021, with a revenue of 66%.
D) Based on end users, the sewage segment will have a larger market share of 40% in 2021.
E) The Asia-Pacific dominated the F.R.P. market in 2021, with a market percentage of more than 50%. China alone occupies a significant market share with 39%.

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Regional Landscape

The Asia-Pacific took the lead in the RFP market in the region in 2021 and is expected to maintain this lead during the projected period. The rapid development of oil and gas operations in Asia-Pacific and the rapid increase of construction activities are responsible for the market growth in those areas.

Additionally, the high R&D activity investments and technological breakthroughs in these areas play a significant role in the market expansion. China accounts for the most critical market share in APAC, accounting for 39% of total market revenue. Numerous construction sectors in China use FRP composites.

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Key Players

Enduro Composites Inc.
Ershigs Inc. (Denali incorporated)
Fibrex FRP piping systems
National Oilwell Varco Inc.
Sarplast SA
Saudi Arabian Amiantit Company
Sekisui Chemical Co. ltd.
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.

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The Fibre Reinforced Plastic Pipes Market is segmented as follows:

By Type

Glass fibre
Carbon fibre
Aramid
Basalt

By End-Use

Oil & Gas industry
Chemical industry
Sewage industry
Irrigation industry
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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