The global GRP pipes market size is estimated to reach USD 2.1 billion by 2025 and is projected to grow at a CAGR of 3.7% during the forecast period 2019 to 2025, according to a new report by Million Insights. Glass fiber reinforced plastic (GRP) pipes are reliable and lightweight in nature. These pipes also provide superior strength and corrosion resistance. Thus, these pipes are highly used for wastewater transportation.
Stiff regulations regarding wastewater management and treatment are projected to foster market growth. Moreover, GRP pipes are very flexible and easy to install. Additionally, these pipes have fewer joints and are suitable for long distances. All these benefits are anticipated to bolster the demand for GRP pipes in the next few years.
Government authorities across the developing countries are adopting stringent regulations for water management which are projected to surge the market growth. Furthermore, increasing demand for the products from the industrial sector for water treatment is expected to positively impact on GRP pipe market growth.
In addition, these pipes are highly used in hydropower and desalination plants. Furthermore, increasing investments into industries for transportation and other end-users is projected to spur market growth. Key players in the market are focusing on R&D activities for improved anti-corrosion and high-temperature capabilities. This trend is expected to propel the product demand in the next few years. Enhanced quality product is found to be a key factor for GRP pipes.
Key manufacturers in the market include Amiblu Group, Abu Dhabi Pipe factory, Hengrun Group Co, Graphite India limited, and Saudi Arabian Amiantit Co. among others.
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Further key findings from the report suggest:
• In irrigation application, GRP pipes are anticipated to grow at the CAGR of 6.1% in Indian market during the forecast period, 2019 to 2025.
• In 2018, sewage treatment application segment contributed to market share of over 27.0% in the overall market, mainly due to its high reliability provided by the GRP pipes.
• Asia Pacific is projected to grow at the highest CAGR, owing to industrial development across the countries like India and China.
• Europe is expected to grow at a significant rate of CAGR due to presence of established water treatment facilities.
• Several players in the market focus on increasing its operations through technical services pipe installation measures.
Million Insights has segmented the global GRP pipe market based on application and region:
GRP Pipe Application Outlook (Revenue, USD Million, 2014 - 2025)
• Oil & Gas
GRP Pipe Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• Saudi Arabia
• United Arab Emirates