IRVING, Texas, Aug. 3, 2015 /PRNewswire-iReach/ — According to a new market report published by Lucintel, the future of the FRP pipe market looks good with opportunities in the oil and gas, retail fuel, water/wastewater, sewage, and chemical industries. The global FRP pipe market is forecast to grow at a CAGR of 3.1% from 2015 to 2020. The major growth drivers for this market are an increase in construction of water supply systems, development of sewage treatment, increasing shale gas exploration activities, and the expanding offshore oil and gas industry.
In this market, glass fiber with polyester, vinyl ester, and epoxy resins are used to manufacture FRP pipes. Lucintel predicts that the demand for polyester resins in FRP pipes is expected to experience the highest growth in the forecast period, supported by growing demand in water/wastewater and sewage applications. On the basis of its comprehensive research, Lucintel forecasts that the water/wastewater, chemical/industrial, and sewage industries are expected to show above average growth during the forecast period.
Within the FRP pipe market, the largest market by value and volume consumption after chemical/industrial applications is onshore oil and gas. The growth of oil and gas exploration activities and the boom in shale gas production are expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the growth in end use applications, such as water/ wastewater and chemical/ industrial. Asia Pacific and the Rest of the World are expected to grow significantly by virtue of growing water and wastewater applications, especially in China and India, due to increasing urban population and high growth in construction and infrastructure development. Also, the chemical industry is shifting its production bases towards low-cost regions.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of FRP pipes can be capitalized. Emerging trends, which have a direct impact on the dynamics of the industry, are the introduction of onsite FRP pipe manufacturing facilities and increasing rehabilitation activities of pipelines. Future Pipe Industries, National Oilwell Varco, Amiantit, Hobas, and Hengrun Group are among the major manufacturers of FRP pipes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for FRP Pipes in global market by end-use industry, material type, and region and has come up with a comprehensive research report, “Global FRP Pipe Market 2015-2020: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a spring board for the growth strategies as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for FRP pipes in global market through 2020, segmented by end-use industry, material type, and region as follows:
By end use industry [Volume (Million Pounds/Kiloton) and $ Million shipment from 2009 to 2020]-
- Onshore Oil & Gas
- Retail Fuel
- Water and Wastewater
- Pulp and Paper
- Chemical/ Industrial
- Offshore Oil & Gas
By material type [Volume (Million Pounds/Kiloton) and $ Million shipment from 2009 to 2020]-
- Polyester Composites
- Vinyl Ester Composites
- Epoxy Composites
By region [Volume (Million Pounds/Kiloton) and $ Million shipment from 2009 to 2020]-
- North America
- Asia Pacific
- Rest of the World
This 180-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/chemical_composites/global_frp_pipe_market_2015_2020_trends_forecast_and_opportunity_analysis_june_2015.aspx or email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategy for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Media Contact: Roy Almaguer, Lucintel, +1-972-636-5056, firstname.lastname@example.org
News distributed by PR Newswire iReach: https://ireach.prnewswire.com