Asia Pacific FRP Pipe Market Report

Market Insights

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 Asia-Pacific FRP Pipe Market

The Pandemic caused a severe blow in the demand for composite materials, especially in the second quarter of 2020. All the major markets for composite materials including transportation, aerospace, construction, and pipe & tank are recording unrecoverable dent in their growth trajectory with huge short-term as well as long-term repercussions.

Among all regions, Asia-Pacific is estimated to mark the least decline in the wake of the Pandemic followed by the quickest recovery, forming an overall V-shaped recovery. It is also estimated that there will be sequential growth till 2026 in most of its major markets, translating into the overall CAGR of 5.6% during 2021-2026, highest among all the regions.

Segments' Analysis

Asia-Pacific’s FRP Pipe Market Share by Application Type

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 occupies the lion’s share of the region’s market for FRP pipes and is estimated to maintain its leading position in the years to come. Chemical plants are the major demand generators of FRP pipes in the region, followed by power & desalination plants. Water/wastewater is another major application of FRP pipes in the region. High investment in water/wastewater infrastructure of the major economies, such as China and India, is propelling the growth shafts of FRP pipes in the region. The region’s market is considered to be fiercely competitive with the presence of over 100 companies in the region to serve both local as well as export markets.  

Asia-Pacific’s FRP Pipe Market Share by Resin Type

Based on the resin type, the market is classified as polyester, vinyl ester, and epoxy. Polyester is likely to remain its unassailable dominance in the Asia-Pacific’s FRP pipe market during the forecast period. The Asian FRP pipe is fiercely competitive where cost plays a crucial role in the selection of material as well as suppliers. Polyester resin is considered an ideal material for the fabrication of FRP pipes in the major markets, especially China and India, mainly because of its lower cost than epoxy and vinyl esters and adequate mechanical properties. Vinyl ester and epoxy resins are increasingly gaining ground in the region’s market.

Asia-Pacific’s FRP Pipe Market Share by Manufacturing Process Type

Based on the manufacturing process type, the market is classified as filament winding, centrifugal casting, hand lay-up, spray lay-up, and others. Filament winding is likely to remain the most dominant as well as the fastest-growing manufacturing process in the Asia-Pacific’s FRP pipe market during the forecast period. There is also a huge dominance of hand layup and spray layup processes, solely because of their low equipment cost. However, there has been an incessant shift from the open mold process to the filament winding process in the region’s FRP pipe market.

Regional Analysis

Among major markets for FRP pipes in the region, China is estimated to log the minimal losses with the country already started showing an early sign of market recovery. The country is also likely to substantiate its position in the global marketplace in the years to come. Also, several Chinese FRP manufacturers are increasingly focusing on the export to the matured markets. Also, a rise in the awareness level of governments about the FRP pipe benefits, such as durable, excellent corrosion resistance, longer life, low maintenance cost, high-pressure resistance, etc. over traditional ones is further pushing the demand for FRP pipes in the country.

India currently has a very low penetration of FRP with a huge reliance on traditional pipes. However, the past ten years had been brilliant for the FRP pipe market participants, recording a gradual transition from metal and cement pipes to FRP pipes in various applications. Industrial and water/wastewater prove to be the biggest growth engines for FRP pipes in India. Aging pipeline infrastructure and expansion of the pipeline network assure the future growth potential of FRP pipes in the country.

Market Scope & Segmentation

The Asia-Pacific’s FRP pipe market is segmented into the following categories.

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Application Type

• Oil & Gas
• Industrial (Application Type Analysis: Chemical, Power and Desalination Plants, and Others)
• Water/Wastewater (Application Type Analysis: Sewer & Stormwater, Water Transmission & Distribution, Drainage, and Others)
• Marine & Offshore (Application Type Analysis: Marine and Offshore)

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Resin Type

• Polyester Pipes
• Vinyl Ester Pipes
• Epoxy Pipes

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Diameter Type

• <18-Inch Diameter Pipe
• 18-60-Inch Diameter Pipe
• >60-Inch Diameter Pipe

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Manufacturing Process Type

• Filament Winding
• Centrifugal Casting
• Hand Lay-up
• Spray Lay-up
• Others

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Pressure Rating Type

• <150 PSI
• 150-300 PSI
• >300 PSI

Asia-Pacific’s FRP Pipe Market Size, Share & Forecast, By Country

• China
• India
• Malaysia
• Rest of Asia-Pacific

Key Players

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
• EPP Composites Pvt. Ltd.
• Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd.
• Future Pipe Industries
• Graphite India Limited
• Hengrun Group Co. Ltd.
• Hanwei Energy Services Corp.
• Reliance Composites
• HOVOY Composite
• SUZHOU JIUMEI FIBER GLASS Co, Ltd.

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 strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s FRP pipe market realities and future market possibilities in Asia-Pacific for the forecast period of 2021 to 2026. After a continuous interest in our global FRP pipe market report, we have attenuated our research focus on the Asia-Pacific’s FRP pipe market, a market with undiscovered potential. 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.

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:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the resin types by application type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, country presence, and strategic alliances

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 sales@stratviewresearch.com.