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GRP Pipe Market | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
See less...Covid-19 has impacted the market dynamics, competition, and global...
See more...Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s GRP pipe market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our paragon reports on the FRP Pipe market, FRP Tank market, GRE Pipe market, and Oil & Gas FRP Pipe market, we have come up with another comprehensive study on GRP PIPES, another key member of FRP Pipe family. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for GRP pipes at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
GRP Pipe Market: Highlights
Glass fiber reinforced polyester (GRP) pipe is fabricated using polyester resin as matrix and glass fiber as reinforcement. Polyester resin offers environmental and chemical resistance and acts as a binder for fibers in the structural laminate and defines the form of a GRP part. Glass fibers add strength to the pipe. They may be randomly arranged, or conveniently oriented. The most common type of glass fiber used for GRP is E-glass, which is alumino-borosilicate glass. E-CR-glass (Electrical/Chemical Resistance) is also commonly used in applications that require particularly high protection against acidic corrosion.
GRP pipe features superior characteristics over traditional pipes. It comes with lower weight and higher mechanical strength, offers better resistance against chemicals and corrosion, UV radiation and temperature stability, and environmental friendliness. GRP pipe is waterproof; hence, is ideal for all outdoor applications. GRP pipes are highly durable pipes with a long-life expectancy, ideally suited for a wide range of applications in various industries.
GRP pipe accounts for a lion’s share of the overall FRP pipes market. The resin type is also heavily used in the construction of FRP tanks for several industrial and water/wastewater applications. Other resin systems used in FRP pipe are vinyl ester and epoxy resins.
Impact of COVID-19 on the GRP Pipe Market
The rapid spread of the COVID-19 has impacted the entire composites industry ecosystem with a huge change in market dynamics. Most of the end-use industries have witnessed colossal downturns since the announcement of lockdown by several countries to contain the spread of COVID-19. The GRP pipe market is no exception and registering a severe decline in all the major market segments.
Stratview Research’s estimates suggest that the GRP pipe market will log a V-shaped recovery with the commencement of recovery from 2021 onwards followed by sequential growth in the years to come, ultimately pushing the market to reach US$ 2.8-billion-mark by 2026. However, the curve of the V-shaped recovery would be deeper than previous market downturns, such as SARS 2003 and the Great Recession 2008-2009.
Since the pandemic is still in the spread phase with no clarity of the future. We have counted several factors into account in order to forecast the market in three different scenarios (pessimistic, most likely, and optimistic) with an aim to aware the market stakeholders about the possible market growth and recovery cycles in different market conditions.
GRP Pipe Market Share Analysis
Industrial is the Most Dominant Application Type
Based on the application type, the GRP pipe market is segmented into oil & gas, industrial, water/wastewater, and marine & offshore. The industrial segment is further bifurcated into chemical, power & desalination plants, and others. Analogously, water/wastewater into sewer & stormwater, water transmission & distribution, drainage, and others, and marine & offshore into marine and offshore.
Industrial is likely to remain the most dominant as well as the fastest-growing type in the market during the forecast period. GRP pipe is considered the choice of product for several applications including chemical and power & desalination plants, backed by its excellent resistance to corrosion and chemical attack.
Medium Diameter (18”-60”) GRP Pipes are the Most Widely Used.
Based on the diameter type, the market is segmented as small (<18”), medium (18”-60”), and large (>60”). The medium (18”-60”) diameter GRP pipe is estimated to maintain its dominant position in the market in the coming five years. The diameter type is also likely to grow at the fastest rate post-pandemic. Medium diameter GRP pipes are preferably used for industrial and water/wastewater applications.
Filament Winding Remains the Choice of Manufacturing Process in the Market.
Based on the manufacturing process type, the market is classified as filament winding, centrifugal casting, hand lay-up, spray lay-up, and others. The filament winding process is likely to remain the most dominant as well as the fastest-growing manufacturing process in the GRP pipe market during the forecast period. The filament winding process allows continuous fiber reinforcement in the circumferential direction of the pressure pipe where the principal stress applies, resulting in higher-performing product development at a lower cost. The process type holds dominance across regions.
Centrifugal casting has more prevalence in the European market with the presence of a limited number of players. Spray layup and hand layup processes also hold a considerable share of the market.
Asia-Pacific will maintain its leading position
All regions are expected to mark a huge decline in 2020 in the wake of the COVID-19. Despite being hard-hit by the pandemic, Asia-Pacific will manage its huge lead in the global market by 2026. Also, the region is likely to heal up with the fastest pace in the post-pandemic market scenario. China is expected to rebound quickly and will remain acting as the growth engine of the region’s GRP pipe market. India to be the most attractive country for major players looking for moving their manufacturing base away from China, due to the availability of cheap labor similar to China and high-growth opportunity in the longer term.
Key Players
The supply chain of this market comprises raw material suppliers, GRP pipe manufacturers, and end-use industries. The key players in the market ?are Abu Dhabi Pipe Factory, Amiantit Fiberglass Industries Limited, Amiblu Holding GmbH, Farassan Man. & Ind. Company, Future Pipe Industries, Hengrun Group Co. Ltd., Kinflare Group, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd., Sekisui Chemicals, and WIG Wietersdorfer Holding GmbH. There is a presence of over 100 companies worldwide fabricating GRP pipes in small to mid to large quantities.
The market has a relatively high fragmentation in Asia than that of Europe, North America, and the Middle East. Over the years, the industry is noticing a gradual consolidation in the market with the major companies are acquiring other companies as well as forming JVs with them to better position themselves in the specific region.
Some of the Key Strategic Alliances in the market:
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all three countries and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The GRP pipe market is segmented into the following categories.
GRP Pipe Market, By Application Type
GRP Pipe Market, By Diameter Type
GRP Pipe Market, By Manufacturing Process Type
GRP Pipe Market, By Pressure Rating Type
GRP Pipe Market, By Region
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
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