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 Global Fiber Reinforced Plastic (FRP) pipe market is experiencing robust growth and significant demand across various industries. FRP pipes, renowned for their exceptional properties like high strength, corrosion resistance, lightweight, and durability, have garnered widespread adoption in sectors such as oil and gas, water and wastewater treatment, chemical, and infrastructure development. The growing emphasis on sustainable and eco-friendly solutions has further fueled the market expansion, as FRP pipes are considered environmentally friendly alternatives to traditional materials. Additionally, the increasing investment in infrastructure development projects, especially in emerging economies, is driving the demand for FRP pipes in construction applications. Moreover, stringent government regulations promoting the use of non-corrosive materials in industrial processes have bolstered the market's growth. Technological advancements and ongoing research and development initiatives are continuously enhancing the performance and cost-effectiveness of FRP pipes, attracting more end-users. The market players are actively engaged in strategic collaborations, mergers, and acquisitions to strengthen their market presence and expand their product portfolios. Additionally, the rising demand for FRP pipes in applications like desalination plants and offshore drilling activities is expected to open up new growth opportunities for the market during the forecast period. Despite these favorable factors, the market is not without challenges, such as the high initial costs associated with FRP pipes and the presence of alternative materials. Nevertheless, with the expanding industrial and infrastructural sectors, the global FRP pipe market is anticipated to maintain its upward trajectory in the foreseeable future.

US FRP Pipe Market is poised to grow at a sustainable CAGR for the next forecast year.