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    FRP Pipe & Tank Market Report

    FRP Pipe & Tank Market Report
    Report code - SRAM407 Published On : Oct,2020 No. of Pages: 255
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    FRP Pipe & Tank Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-202 See more...

    Impact of COVID-19 on FRP Pipe & Tank Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on FRP Pipe & Tank Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. 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.

    Market Insights

    FRP (fiberglass-reinforced plastic) pipe & tanks are fabricated using resins such as polyester, vinyl ester, and epoxy reinforced majorly with glass fiber. FRP pipe & tanks are gradually replacing traditional materials, such as concrete, iron, and plastics because they offer a gamut of advantages over these materials such as lightweight, durability, excellent corrosion resistance, chemical resistance, high level of stiffness, freedom of design, and low maintenance & installation cost.

    FRP tanks are being installed underground as well as aboveground. Underground FRP tanks are used to store petroleum products such as store gasoline, diesel fuel, motor oil, kerosene, methanol blends, oxygenated motor fuels, etc. Aboveground tanks are used to store acids, caustics, and other types of solvents. FRP pipes are used to transfer corrosive or other materials in corrosive environments. FRP pipe & tanks have a lower relative density between 1.5 and 2. Also, they have an excellent strength-to-weight ratio, only 20% to 25% of the weight of carbon steel yet provide strength similar to alloy steel. FRP has a low thermal insulating property, only about 1/100 to 1/1000 of that of traditional steel, which means they effectively maintain the temperature of liquids inside the pipe or tank.

    Impact of COVID-19 on the FRP Pipe & Tank Market

    The pandemic is rapidly ruthlessly affecting the business environments of major markets. FRP is the fastest-growing category in the total pipes & tanks family but could not escape themselves from it and are witnessing massive declines in their demand in all the market segments across regions. Some regions, particularly, North America and Europe, are witnessing greater declines than Asia-Pacific. Amidst the ongoing crisis, the companies are operating at a lower capacity and will scale up its operation after carefully assessing the course of COVID-19 in the near term.

    In order to assess the impact of the Pandemic in the FRP pipes & tanks market with high veracity, Stratview Research has conducted a large number of primary interviews across the FRP market value chain as well as studied the impacts and recoveries on FRP pipe demand in previous downturns. Based on interviews and study of previous downturns, Stratview Research believes that the FRP pipes & tanks market is likely to record a V-shaped recovery, with recovery taking place from 2021 onwards, ultimately pushing the market to cross the unprecedented figure of US$ 8.0 billion in 2026.

    Segments' Analysis

    FRP-Pipe-&-Tank-Market-Dominant-Segments

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    FRP Pipe to maintain its unassailable lead in the market

    Based on the type, the market is bifurcated into FRP pipe and FRP tanks. FRP pipe is estimated to maintain its huge dominance in the market in the coming five years. FRP pipe is also estimated to rebound at a healthy pace in the post-pandemic market scenario. FRP tanks also account for a considerable share of the market. There has been an increasing penetration of FRP in both, pipes as well as tanks, over the eons.

    Chemical/Industrial to Remain the Most Dominant Application Type

    Based on the application type, the market is segmented as oil & gas, chemical/industrial, water/wastewate, and marine & offshore. Chemical/industrial is likely to remain the most dominant application type in the market during the forecast period. In chemical/industrial applications, FRP pipe & tanks are gradually becoming the choice of product in a series of applications including petrochemical & refineries, power & desalination plants, fuel handling, storage tanks, etc. Vinyl ester and polyester resins are preferably used in the chemical/industrial application as both resins possess the high levels of chemical resistance even in the most aggressive environments.

    The oil & gas industry segment is also expected to register the impressive growth in the post-pandemic market scenario. FRP pipe & tanks are becoming the apple of the eye for a wide range of applications such as flow gathering, water injection, downhole tubing, well casing, and transmission line.

    Polyester Remains the Choice of Resin Systems

    Based on the resin type, the market is classified as polyester, vinyl ester, and epoxy. Polyester is likely to remain the most dominant resin type in the market during the forecast period. Polyester resin offers a multitude of advantages including excellent corrosion and chemical resistance and moderate strength at a lower cost; hence, is considered a perennial choice for low-pressure applications. Glass fiber-reinforced epoxy pipes (GRE pipes) have high chemical and corrosion resistance as well as excellent mechanical, physical, and thermal properties. GRE pipes are capable to handle high pressure & temperature and resist corrosion caused by H2S and saltwater, which make them a preferred choice in oil & gas and marine/offshore applications.

    Filament Winding is the Most Dominant 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. The filament winding process is likely to remain the most dominant manufacturing process in the market by 2026. Filament winding is the preferred process for the fabrication of FRP pipes, whereas spray lay-up is the dominant process for fabricating FRP tanks. The filament winding process allows continuous fiber reinforcement in the circumferential direction of pipe where the principal stress applies, resulting in high performing product development at a lower cost. Spray lay-up is the extension of the hand lay-up method where a spray gun is used to spray pressurized resin and chopped fiber on a mold. It is much faster than hand lay-up.

    Asia-Pacific to Maintain its Leading Position

    All regions are expected to mark a huge decline in 2020 in the wake of the COVID-19. Asia-Pacific, the demand severely hit by the pandemic, is expected to manage its lead in the global market in the foreseeable future. Also, the region is likely to heal up with the fastest pace in the post-pandemic market scenario. China, India, Malaysia, and Japan are the major markets for FRP pipes & tanks. There has been an incessant shift from traditional materials to FRP pipes & tanks across the region. China is estimated to maintain its huge dominance in the global marketplace in the years to come. India to add consequential growth opportunities in years to come.

    FRP-Pipe-&-Tank-Market-By-Region

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    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2015-2026

    Regions Covered

    North America, Europe, Asia-Pacific, Middle East, Rest of the World

    Size in 2026

    US$ 8.0 Billion

    Countries/Subregions Covered

    The USA, Canada, Mexico, France, Germany, the UK, Russia, China, India, Malaysia, Saudi Arabia, UAE, Oman, Qatar, Brazil, Argentina and others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

                                                                              

    The global FRP pipe & tank market is segmented into the following categories.

    FRP Pipe & Tank Market Size, Share & Forecast, By Type

    • FRP Pipe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • FRP Tank (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe & Tank Market Size, Share & Forecast, By Application Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chemical/Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Water/Wastewater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine & Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe & Tank Market Size, Share & Forecast, By Resin Type

    • Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Vinyl Ester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe & Tank Market Size, Share & Forecast, By Manufacturing Process Type

    • Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Centrifugal Casting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hand Lay-up (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Spray Lay-up (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe & Tank Market Size, Share & Forecast, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Malaysia, and Rest of Asia-Pacific)
    • Middle East (Country Analysis: Saudi Arabia, UAE, Oman, Qatar, and Rest of Middle East)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)