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North American FRP 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.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s North American FRP pipe market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for FRP pipes at the 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.
North American FRP Pipe Market: Overview
FRP (fiberglass-reinforced plastic) pipes have a brilliant journey over the eons and have undoubtedly emerged as one of the most promising alternatives of steel and aluminum pipes. FRP pipes offer a long list of benefits over their counterparts including 75% lower weight than steel pipes, the most prevailed type across industries. The lower weight of FRP pipes allows companies to quickly install pipes, substantially reducing the overall installation cost. Furthermore, FRP pipes have low thermal insulating property; only about 1/100 to 1/1000 that of traditional steel, which means they effectively maintain the temperature of liquids inside the pipe.
Additionally, these pipes feature superior design ability; hence, can be fabricated in various designs for different applications. Other noticeable advantages are easy to repair, low maintenance cost, corrosion resistance, and easy to handle. The non-toxicity property of FRP pipes is considered an ideal for potable water application. They are also extremely aging resistant and can withstand years of outdoor usage and can service for years without compromising their safety factor while maintaining 1.8 times of its pressure class.
Impact of COVID-19 on the North American FRP Pipe Market
The COVID-19 Pandemic has devastated the FRP pipe demand in all the major markets across regions with North America no exception. The region’s market for FRP pipes is estimated to record one of the biggest declines among regions in 2020. The demand for FRP pipes is estimated to be plateaued in 2020, followed by healthy market recoveries in years to come, ultimately driving the market to reach US$ 0.97 billion in 2026. All the major FRP pipe manufacturers are squeezing in their operational cost, halting their expansion plans, targeting their high-margin business, and reconfiguring their strategies with a sole aim to survive in this breath-taking market environment.
North American FRP Pipe Market Share Analysis
Industrial Remains the Biggest Demand Generator for FRP Pipes.
Based on the application type, the market is segmented as 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 expected to remain the largest segment of the region’s FRP pipe market in the coming five years. FRP pipes are gaining preference over traditional pipes in a multitude of industrial applications out of which chemical plants and power & desalination plants with the consequential usage of FRP pipes across regions. All three resin types are used distinctively in order to cater to different market requirements. FRP pipes manufactured with vinyl ester and polyester resins offer high levels of chemical resistance even in the most aggressive environments.
Oil & gas, another major segment, is expected to register a similar growth trajectory as the industrial one during the forecast period. Years of continuous R&D coupled with the presence of major FRP pipe manufacturers led to the increased penetration of FRP pipes in the region’s oil & gas industry as compared to other regions. GRE pipes are mainly used in the oilfield applications and offer non-corrosive characteristics, making them a better choice for oil & gas transportation in a wide range of applications such as flow gathering, water injection, downhole tubing, well casing, and transmission line, in all pressure, temperature, and mediums.
GRE Pipe is Efficacious in Creating Greater Marketspace.
Based on the resin type, the market is classified as polyester, vinyl ester, and epoxy. Contrary to other regional markets, here, in North America, epoxy is estimated to remain the most dominant resin type during the forecast period. Glass fiber-reinforced epoxy pipes (GRE pipes) have a high chemical and corrosion resistance as well as excellent mechanical, physical, and thermal properties. GRE pipes are capable to handle high-pressure & high-temperature and resist corrosion caused by CO2, H2S, and saltwater, which make them a better choice in oil & gas and marine & offshore applications.
Filament Winding is the Most Preferred Manufacturing Process in the Region
Based on the manufacturing process type, the market is classified as filament winding, centrifugal casting, hand lay-up, spray lay-up, and others. All the major FRP pipe manufacturers have multiple manufacturing processes capabilities to serve a multitude of applications with a wide variety of diameters. Filament winding is likely to remain the most widely preferred manufacturing process in the market with both helical as well as continuous processes gaining market traction. Centrifugal casting, hand layup, and spray layup also hold a considerable share of the market
The USA is Estimated to Maintain its Unassailable Dominance in the Years to Come.
North America is estimated to register huge losses due to the pandemic. Despite the huge decline, the USA to maintain its lead in the years to come. The country is currently the second-largest market in the world after China. Increase in domestic onshore oil & gas production, increasing investment in wastewater and sewage treatment pipelines to drive the market in the USA. The country is the manufacturing hub of FRP pipes with the presence of several top players such as Future Pipe Industries, LF Manufacturing, RPS Composites, and National Oil Varco.
The supply chain of this market comprises raw material suppliers, FRP pipe manufacturers, and end-use industries. The key players in the market are Amiantit Fiberglass Industries Limited, Conley Composites, Endurance Composites, LLC, Future Pipe Industries, HOBAS Pipe USA, LFM Fiberglass Structure, National Oilwell Varco, RPS composites, and Sekisui Chemicals Co. Ltd
The North American FRP pipe market is more consolidated than that of Asia-Pacific with the presence of a limited number of players. Also, over the years, major players have acquired a series of FRP pipe manufacturers with an aim to strengthen their position in the North American FRP pipe market.
The most noticeable strategic alliances in the region’s market was the acquisition of Denali Incorporated by Nation Oilwell Varco (NOV) in 2019. With this acquisition, NOV consequentially reinforced its position in the GRP pipe and tank business in the region.
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.
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 North American FRP pipe market is segmented into the following categories.
North American FRP Pipe Market, By Application Type
North American FRP Pipe Market, By Resin Type
North American FRP Pipe Market, By Diameter Type
North American FRP Pipe Market, By Manufacturing Process Type
North American FRP Pipe Market, By Pressure Rating Type
North American FRP Pipe Market, By Country
Report Customization Options
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