The demand for FRP (Fiber Reinforced Plastic) pipes in water and wastewater is on an increase owing to rise in demand for strong and cost-effective piping solutions. Moreover, growth in the global construction industry and betterment of wastewater treatment facilities is expected to provide lucrative opportunities in the global FRP pipe market.
Portland, OR -- (SBWIRE) -- 10/03/2017 -- FRP Pipe Market was valued at $2,080 million in 2016, and is expected to reach $3,557 million by 2023, registering a CAGR of 8.1% from 2017 to 2023.
FRP pipes are cylindrical composite pipes made up of a polymer matrix reinforced with fibers, such as carbon, glass, basalt, or aramid. Also, other fibers such as wood, paper, or asbestos are also used but are usually not preferred due to relatively lower strength and higher prices. The polymer used in the manufacture of FRP pipes are generally vinylester, epoxy, or polyester thermosetting plastic. FRP pipes are used in several applications such as water and wastewater treatment, and construction and marine.
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Increase in demand for lightweight piping solutions coupled with growth in awareness among consumers regarding beneficial advantages of FRP pipes fuel the growth of the global FRP pipe market. Moreover, rapid increase in the demand for high performance and corrosion free pipes especially in oil & gas industry and rise in investment by governments of developed and developing economies to improve the overall wastewater treatment facilities are expected to boost the market growth.
The global FRP pipe market is segmented on the basis of (Type, Application, Process and Geography):
-Water and Wastewater
-Chemical and Industrial
-Oil & Gas
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