GRP Pipes Market Analysis Report By Application, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global glass fiber reinforced plastic (GRP) pipes market size was accounted for USD 1.6 billion in 2018. It is projected to expand at a 3.7% CAGR over the forecasted period, 2019 to 2025. Increasing demand for lightweight, durable, and high-strength pipes for chemical supply and wastewater management in industrial applications is expected to boost the market growth.

Several key players dominate the market owing to their widespread distribution and a large number of manufacturing facilities. High operational costs and initial investment are expected to be key barriers for companies that are entering the market.

In North America, the United States dominates the market with the highest market share, mainly due to supportive government investment for water treatment. Growing shale gas exploration is driving the need for durable piping systems, thereby, leading to the GRP pipes market growth.

Manufacturers focus on offering standard products as the cost linked with engineering and fabrication in custom manufacturing is high. Moreover, they offer customized pipes specific applications as per end-user requirements.

Centrifugal casting and filament winding are the most common techniques used in GRP pipe manufacturing. In centrifugal casting, the outer diameter of the pipe is constant and produces high-quality products. Moreover, this process is not so cost-effective, thus it is expected to restrain the market growth.

European Union has formed safety glass directives regarding the piping system used in automotive, construction, and water treatment applications. These directives include installations and fitting services.

Application Insights

In sewage treatment applications, these pipes are used due to their corrosion resistive capability. Furthermore, rising government rules or mandates recycling, and processing are projected to bolster the segment growth.

In 2018, the irrigation segment occupied the highest share in the market. It is projected to grow at a CAGR of around 4.1% from 2019 to 2025. The growing agriculture sector along with increasing demand for food is projected to proliferate the growth of water infrastructure.

In 2018, the chemical segment accounted for over USD 159.0 million in the overall market. This segment is estimated to register a CAGR of over 2.8% during the forecasted period, 2019 to 2025. Additionally, growing demand from the electronics, food & beverages, and pharmaceuticals sector is anticipated to bolster market growth.

The oil & gas segment is projected to grow at a CAGR of over 3.4% from 2019 to 2025. An increasing number of gas exploration activities is projected to foster the demand for the product.

Regional Insights

In 2018, Asia Pacific led the glass fiber reinforced plastic pipes market with the highest market share and is estimated to dominate the market over the forecast duration. India is anticipated to grow at the fastest rate from 2019 to 2025. Moreover, supportive government regulations are encouraging the manufacturers to introduced cost-effective products, which, in turn, is likely to supplement the market growth.

China is the world’s largest pipes consumer and has the presence of large chemical manufacturing firms. Asian countries are focusing on reducing imports, which is boosting the growth of the agriculture industry. This growth is raising the product demand from irrigation applications.

In South Korea, the product demand is estimated to account for USD 54.4 million by 2025. It is projected to grow at a CAGR of 2.3% during the forecasted period.  Some of the key players in the country include Lotte Chemical, SK Chemicals, Hanwha Chemical, and LG Chem.

In 2018, Germany held a market share of over 21.4% in the overall market. Increasing demand from sewage application and gas transportation are the key factors responsible for market growth in the region.

Impact of COVID-19

COVID-19 pandemic has disrupted the production of GRP pipes. Various factors such as lack of labor force and disruption in the supply of raw materials have interrupted the manufacturing of pipes. Leading manufacturers closed their operations between March and April 2020.

Lower steel production and raw material unavailability due to lockdown restrictions have hampered the growth of the market. However, some of the companies in Europe and Asia have re-opened their manufacturing facilities. Although, these companies are not operating at their full capacity. For example, Graphite India Limited has started functioning its GRP plants in India in May 2020. Therefore, the reopening of production units is likely to drive the segment growth.

GRP Pipes Market Share Insights

The market is heavily competitive in nature. Moreover, a rising number of manufacturers are focusing on new product development and improved quality which is boosting the demand for GRP pipes.

The companies in the market engage in strategic acquisitions, joint ventures to remain competent in the market. Key players in the market are HengrunGroup Co., Ltd, Graphite India Limited, Amiblu Group, and Abu Dhabi Pipe Factory among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global GRP pipes market report on the basis of application and region:

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Oil & Gas
    • Chemical
    • Sewage
    • Irrigation
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
    • The Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Singapore
        • Australia
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • United Arab Emirates