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    Oil & Gas FRP Pipe Market Forecast | 2023-28

    Oil & Gas FRP Pipe Market Forecast | 2023-28
    Report code - SRAM421 Published On : Oct,2020 No. of Pages: 250
    Oil & Gas FRP Pipe Market Size, Share, Trend, Forecast, & Competitive Analysis (20 See more...

    Market Insights

    The Oil & Gas FRP Pipe Market is likely to grow from USD 742.6 million in 2022 to reach USD 948.0 million by 2028 at a healthy CAGR of 3.9% during the forecast period.

    To know more about this report,

    What is an FRP?

    Fiberglass-reinforced plastic is referred to as FRP. It is a substance comprised of a polymer matrix that has been strengthened with fibers. FRP wear pads made from FRP pipe are available from Piping Technology. Epoxy adhesive is used to attach these pads to the pipes

    Oil & Gas FRP Pipe Market Report Overview

    Market Size in 2028

    USD 948.0 million

    Market Size in 2022

    USD 742.6 million

    Market Growth (2023-2028)

    CAGR of 3.9%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    FRP pipes are used in a multitude of applications including flow lines/injection lines, transfer lines, fire water lines, high-pressure CO2 and saltwater injection lines, light chemical lines, tank battery pipes, downhole tubing, and casing liners.
    Listed below, are some of the key factors driving the growth of FRP pipes in the oil & gas industry:

    • World energy demand continues to rise in the long run with increased exploration and production activities both, onshore and offshore.
    • The non-corrosive characteristic of FRP piping systems positions them as the materials of choice for efficient fluid transportation in a wide range of applications in all pressures, temperatures, and mediums.
    • Light weight of FRP pipes, durability, corrosion resistance, chemical resistance, high level of stiffness, freedom of design, and low maintenance & installation cost.

    Additionally, FRP pipes provide a longer lifespan and minimize the need for buoyancy in both onshore and offshore applications. FRP pipes are also preferred in natural gas distribution as they are easy to install and allow long pipe network installation.

    Impact of COVID-19

    The pandemic has taken all the major end-use industries in its clutch with the oil & gas industry proving to be its biggest prey. A significant decline in oil prices aggravated the oil price war between two major countries. Later, all the major oil-producing countries had no option except to curtail the production of crude oil and natural gas. Also, such trends are severely affecting future expenditure on oil & gas extraction and production projects.

    The impact of such trends is also being noticed in the demand for FRP pipes in the oil & gas industry. It is estimated that the demand for FRP pipes in the industry will plunge by a double-digit rate in the year 2020 in the wake of the pandemic, taking the market well below its 2015-market value. The recovery will take place from 2021 onwards, helping the market stakeholders to quickly heal the loss endured because of the pandemic. 

    Key Players

    The key players in the market are-

    Key strategic alliance in the market:

    • In 2019, Nation Oilwell Varco (NOV) acquired Denali Incorporated. With this acquisition, the company also acquired the Denali Incorporated brands including Belco, Ershigs, Fabricated Plastics, Fibra, and Plasti-Fab.
    • In 2017, Two market-leading companies: Amiantit Europe & its Flowtite Technology, and Hobas Europe, part of WIG Wietersdorfer Holding, form a 50:50 joint venture Amiblu in Klagenfurt, Austria. Amiblu’s goal is to develop and deliver world-class GRP pipes and fittings to sustainably solve the world’s water and sewer challenges.

    Segment Analysis

    Flow Line is the Most Dominant Application Type

    The market is segmented as flow lines, downhole tubing and well casing, transmission lines, and others. Flowline is likely to remain the most dominant application in the market during the forecast period.

    The oil industry stakeholders are increasingly relying on water injection to maintain production levels. As flow rates and injection pressures increase so do the corrosion and erosion challenges. GRE pipe is non-corrosive making it ideal for use in these applications.

    Epoxy Remains the Apple of Choice in the Market

    The market is classified as epoxy resin and other resins. The epoxy (GRE pipe) segment is further bifurcated based on the curing agent type as aliphatic Amine, aromatic Amine, and anhydride. 

    Epoxy is estimated to remain the dominant resin system in the market in the coming five years. 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 CO2, H2S, and saltwater, making them a preferred choice in oil & gas applications.

    Filament Winding is the Most Dominant Manufacturing Process Type

    The market is classified as filament winding, centrifugal casting, and others. The filament winding process is estimated to remain the most dominant manufacturing process in the 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 high-performing product development at a lower cost. All the major FRP pipe manufacturers are increasingly relying on the filament winding technology to fabricate FRP pipes.

    North America will maintain its leading position.

    North America is projected to remain the largest market during the forecast period with the presence of several FRP pipe manufacturers in the region. The COVID-19 outbreak has significantly curtailed the oil demand, which in turn may affect the expenditure of exploration and production in the coming years.

    To get more information about the market trend,

    The USA will maintain its leading position in North America in the coming years. As of February 2020, there were 50,000 miles of oil & gas pipelines under construction globally, out of which 19,709 miles were in Asia-Pacific and 17,716 miles in the USA. So, the USA and Asia-Pacific accounted for over 75% (37,000 miles) of activity.

    Asia-Pacific is likely to heal up at the fastest pace in the post-pandemic market developments. China is estimated to maintain its leading position in Asia-Pacific in the years to come. Currently, the demand for GRE pipes in the Indian oil & gas industry is negligible but is estimated to grow with leaps and bounds in the coming years.

    Segmentation 

    The market is segmented into the following categories.

    By Application Type

    • Flow Lines
    • Downhole Tubing and Well Casing
    • Transmission Lines
    • Others

    By Pipe Diameter Type

    • <10-Inch Diameter
    • 10-18-Inch Diameter
    • >18-Inch Diameter

    By Pressure Type

    • <300PSI Pipes
    • 300-1,200PSI Pipes
    • >1,200PSI Pipes

    By Resin Type

    • Epoxy Pipes
      • Curing Agent Analysis: Aliphatic Amine, Aromatic Amine, and Anhydride
    • Other Pipes

    By Manufacturing Process Type

    • Filament Winding
    • Centrifugal Casting
    • Others

    By Region

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

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Oil & Gas FRP Pipe Market realities and future market possibilities for the forecast period.

    The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. 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 the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, 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 four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. 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.

    What Deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Oil & Gas FRP Pipe Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    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 or 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.

    Frequently Asked Questions (FAQs)

    Fiberglass-reinforced plastic is referred to as FRP. It is a substance comprised of a polymer matrix that has been strengthened with fibers. FRP wear pads made from FRP pipe are available from Piping Technology. Epoxy adhesive is used to attach these pads to the pipes

    The oil & gas FRP pipe market will likely grow from USD 742.6 million in 2022 to USD 948.0 million by 2028 at a healthy CAGR of 3.9% during the forecast period.

    Amiantit Fiberglass Industries Limited, EPP Composites Pvt. Ltd, Farassan Man. & Ind. Company, Daqing Harvest Longwall High Pressure FRP Co., Ltd., Future Pipe Industries, HOVOY Composite, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd., National Oilwell Varco, and SUZHOU JIUMEI FIBER GLASS Co., Ltd. are among the key players in the market.

    North America is likely to remain the largest market for oil & gas FRP pipes in the next five years.

    Flow line is expected to remain the most dominant application type in the market in the coming years.

    The filament winding process is expected to remain the dominant manufacturing process type in the market in the coming years.

    The supply chain of market comprises raw material suppliers, FRP Pipe manufacturers, distributors, and end-users.