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    Fiberglass Pipes Market | Covid-19 Impact Analysis

    Fiberglass Pipes Market | Covid-19 Impact Analysis

    Fiberglass Pipes Market | Covid-19 Impact Analysis
    Report code - SRAM276 Published On : Sep,2020 No. of Pages: 255
    FRP Pipe Market by Application Type (Oil & Gas, Industrial [Chemical, Power & Desa See more...
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    Impact of COVID-19 on Fiberglass Pipes Market

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

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    Impact of COVID-19 on Fiberglass Pipes Market

    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 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 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.

    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 FRP Pipe Market

    The pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. FRP pipes hold a distinct position in the pipes 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 FRP pipe producers are operating at a lower capacity and are planning to 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 pipe 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 pipe market is likely to record a V-shaped recovery in the Pandemic, with recovery taking place from 2021 onwards, ultimately pushing the market to cross the unprecedented figure of US$ 5.5 billion figure in 2025 and US$ 5.75 billion in 2026.

    Some of the Key Strategic Alliances in the market:

    • In 2019, Nation Oilwell Varco (NOV) acquired Denali Incorporated. With this acquisition, the company also acquired the Denali Incorporated brands of 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.

    FRP Pipe Market Share Analysis

    Industrial to Remain the Biggest Demand Generator of FRP Pipes.

    Based on the application type, the market is segmented as oil & gas, industrial, and 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 application type in the market in the foreseen future with power & desalination plants and chemical being the major applications. FRP pipes are increasingly preferred in the above-mentioned applications, propelled by their several advantages including excellent resistance to corrosion and chemical attack. Polyester and vinyl ester resins are widely preferred along with glass fiber for the fabrication of FRP pipes for industrial applications.

    In the post-pandemic market scenario, oil & gas are estimated to heal up at the fastest pace with North America and Asia-Pacific being the growth engines. FRP pipes offer excellent resistance against corrosive environments, such as soil, hydrocarbon, saltwater, H2S, and chemical compounds typically encountered in the oil field. These characteristics make them a better choice in the oil & gas industry 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.

    Polyester is the Most Dominant Resin Type

    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 FRP pipe market during the forecast period. Polyester is comparatively cheaper than epoxy and vinyl ester resins; hence, is preferred in cost-sensitive applications including chemical, power & desalination plants, water transmission, drainage, and sewer & stormwater. Glass fiber-reinforced polyester pipes (GRP pipes) have an excellent chemical and corrosion resistance than traditionally used pipes. FRP pipes made up of polyester resin are durable, flexible, and consist of a resin-rich reinforced liner, structural wall, and a resin-rich exterior layer.

    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 as well as the fastest-growing manufacturing process in the FRP 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-performance product development at a lower cost. Centrifugal casting, hand layup, and spray layup are the other preferred manufacturing processes used in FRP pipes.

    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. Asia-Pacific is currently the leading FRP pipe market in the world and is estimated to maintain its unassailable lead in the foreseen future. Among regions, Asia-Pacific is also estimated to register the least impact from the pandemic in both, short as well as long term. China is the world’s leading producer as well as consumer of FRP pipes with higher use in the industrial and water/wastewater applications. The country is estimated to generate substantial demand for FRP pipes, in the long run, managing its lead in the global marketplace in the years to come. India, a relatively small market, is likely to generate a huge demand for FRP pipes in the coming five years.

    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, Amiblu Holding GmbH, Farassan Man. & Ind. Company, Future Pipe Industries, Hengrun Group Co. Ltd., Kinflare Group, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd., National Oilwell Varco Fiberglass Systems, Sekisui Chemicals, and WIG Wietersdorfer Holding GmbH.

    There is a presence of over 100 companies worldwide fabricating FRP 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.

    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:

    • 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 Regional Trend and Forecast analysis
    • Market segment Regional 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

    The FRP pipe market is segmented into the following categories.

    FRP Pipe Market, By Application Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Power and Desalination Plants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Water/Wastewater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Sewer & Stormwater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Water Transmission & Distribution (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Drainage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine & Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • ?Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe Market, By Resin Type

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

    FRP Pipe Market, By Diameter Type

    • Small (<18”) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Medium (18”-60”) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Large (>60”) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe Market, 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 Market, By Pressure Rating Type

    • <150 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 150-300 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >300 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Pipe Market, 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)
    • The Middle East (Country Analysis: Saudi Arabia, the UAE, Oman, Qatar, and Rest of the Middle East)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

     

    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 type by application type

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, Region 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 [email protected].


    General Frequently Asked Questions (FAQs)

    What are FRP Pipes?

    FRP Pipes are known for the corrosion-resistant property. GRE Pipes, GRP Pipes, and others are some of the pipe types available. FRP Pipes are manufactured using different fiber types such as E-glass and ECR-glass. Oil & Gas, chemical, power plants, water, sewage, irrigation, etc. are some of the application areas where FRP pipes are used.

    What will be the CAGR of the FRP Pipe Market during 2021-2026?

    FRP Pipe Market is likely to witness an impressive CAGR of 4.7% during the forecast period, propelled by an increased preference of FRP pipes over traditional pipes in a multitude of applications including oil & gas, power plants, sewage, chemical, marine, and water.

    Which country/region is expected to remain the largest FRP Pipe Market?

    Asia-Pacific is estimated to maintain its leading position in the market in the coming five years.

    Who are the key players in the FRP Pipe Market?

    The key players in the market are 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., National Oilwell Varco Fiberglass Systems, Sekisui Chemicals, and WIG Wietersdorfer Holding GmbH.

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