FRP Pipe Market Size, Share, Growth Analysis, By Type(Glass-reinforced Polyester, Glass-reinforced Vinyl ester, Glass-reinforced Epoxy), By Application(Water & Wastewater, Chemical & Industrial, Oil and Gas, Power Generation and Others), By Region - Industry Forecast 2024-2031

FRP Pipe Market size was valued at USD 3.84 billion in 2021 and is poised to grow from USD 4 billion in 2022 to USD 5.56 billion by 2030, at a CAGR of 4.2% during the forecast period (2023-2030).

The competitive landscape of the FRP pipe market is characterized by intense rivalry among key players striving to gain a significant market share. Companies are focusing on product innovation and research and development to enhance the performance and properties of FRP pipes, catering to diverse industry needs. Strategic collaborations, mergers, and acquisitions are common strategies adopted by market players to expand their geographical presence and strengthen their product portfolios. Additionally, manufacturers are emphasizing sustainable practices and eco-friendly solutions to align with the growing environmental concerns and stringent regulations. The market's competitive nature is further driven by increasing investments in infrastructure development and the expansion of industries like oil and gas, water and wastewater treatment, and chemical processing, which create opportunities for companies to capture new markets and maintain a competitive edge. 'Augusta Fiberglass (US)', 'Enduro Composites (US)', 'Ershigs Inc (US)', 'Fibrex Fiberglass Pipe (US)', 'FRP SYSTEMS (US)', 'Hanwei Energy Services Corp. (Canada)', 'HOBAS (Austria)', 'Industrial Plastic Systems (US)', 'Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd (China)', 'NOV Inc. (US)', 'Sarplast (Italy)', 'Saudi Arabian Amiantit Co. (Saudi Arabia)', 'Shawcor Ltd. (Canada)', 'Amitech Germany GmbH (Germany)', 'ZCL Composites Inc. (Canada)', 'Hengrun Group Co. Ltd (China)', 'Future Pipe Industries (UAE)', 'Graphite India Limited (India)', 'National Oilwell Varco (US)', 'Plasticon Composites (Netherlands)'

One key driver of the FRP pipe market is the increasing demand for corrosion-resistant and durable piping solutions across various industries. As industrial processes become more aggressive and demanding, there is a growing need for materials that can withstand corrosive environments and provide long-lasting performance. FRP pipes offer excellent resistance to corrosion, making them a preferred choice in applications where traditional materials like steel or concrete would be prone to degradation over time. This driver is propelling the adoption of FRP pipes in industries such as oil and gas, water and wastewater treatment, and chemical processing.

Increasing adoption of eco-friendly and sustainable FRP pipe solutions: One key market trend in the FRP pipe market is the increasing adoption of eco-friendly and sustainable FRP pipe solutions. As environmental concerns continue to gain prominence, industries are seeking greener alternatives to traditional materials. FRP pipes made from recycled materials, or those designed to have a lower carbon footprint, are gaining traction among environmentally conscious customers. Manufacturers are focusing on developing innovative, eco-friendly FRP pipes that offer the same high-performance characteristics while reducing their environmental impact. This trend aligns with the growing demand for sustainable infrastructure solutions across various industries, further driving the market's growth in the direction of eco-conscious practices.

The dominant region in the FRP pipe market is North America. The region's dominance can be attributed to the extensive adoption of FRP pipes in various industries, including oil and gas, water and wastewater treatment, and chemical processing. The well-established infrastructure and stringent regulations promoting the use of non-corrosive materials in industrial applications have significantly contributed to the market's growth in North America. Additionally, the presence of key market players and ongoing research and development activities further bolster the region's position in the FRP pipe market.