Global GRP Pipe Market - 2024-2031

Overview

Global GRP Pipe Market reached US$ 1.9 billion in 2023 and is expected to reach US$ 2.5 billion by 2031, growing with a CAGR of 3.8% during the forecast period 2024-2031.

The GRP pipe market has grown significantly over the last decade and this trend is expected to continue in the forecasted period. The expansion is being driven by increased demand for long-lasting, corrosion-resistant piping systems across variety of industries. European countries, witnessed with ageing infrastructure and urbanization concerns, are making significant expenditures in updating their water and wastewater systems.

For instance, in March 2023, the European Investment Bank and EU have funded a support of €14 million to enhance the water network infrastructure on Sao Tome Island. The effort aligns with the EU's Global Gateway policy, seeks to strengthen the island nation's economy, society and ecology while helping local populations. Therefore, Europe is contributing significantly to the growth of the global market capturing nearly 1/3rd of the market share.

Dynamics

Enhancing Wastewater Infrastructure

The wastewater treatment infrastructure needs to be improved and expanded in response to increasing urbanization and water industry. For such types of projects, GRP pipes are the better choice because of their resistance to corrosion and extended lifespan. The need for GRP pipes is driven by rising investments in water and wastewater management infrastructure globally, particularly for stormwater management, sewage systems and potable water distribution.

ESEN GRP pipes offer top-notch service with exceptional quality, performance and longevity and are used in many different infrastructure projects. ESEN develops composite pipe systems that are ideal for a range of applications and industries. GRP pipes have been used for many years to transfer corrosive forces, including chemicals, as effectively as feasible. Because ESEN GRP pipes are so strong and long-lasting, they are crucial for protecting the environment as well as public health.

Expansion in Emerging Markets

The establishment of new manufacturing facilities in developing markets enables producers of GRP pipes to enter unexplored markets. Rapid industrialization and infrastructure development are common in these rising economies, which significantly increases the demand for water and wastewater management systems.

In September 2023, the Prime Minister of Iraq formally opened a manufacturing factory for glass-reinforced plastic pipes. The prime minister highlighted that the Narjis Pipe Factory is the first of its kind in Iraq, equipped with advanced machinery, inspection tools, raw materials and related technology. It will eliminate the need for importing these pipes and provide the necessary infrastructural projects.

Competitive Pressure from Alternative Materials

Generally, the cost of other materials such as steel, concrete and PVC pipes is less expensive than that of GRP pipes. Consumers may choose less expensive options, particularly in situations like major infrastructure projects where cost is the main consideration.

Developments in materials science could result in the development of substitute materials with attributes that are either better or comparable to those of GRP pipes. The appeal of GRP pipes may be diminished by developments in composite materials, which could result in pipes with improved strength-to-weight ratios or increased chemical resistance.

Segment Analysis

The global GRP pipe market is segmented based on type, diameter, pressure, stiffness, application and region.

Benefits of GRP Pipes in Agriculture Drives Segmental Growth

In 2023, the irrigation segment had the highest revenue share, at around 35.5%. GRP pipes offer several benefits in irrigation applications. Its exceptional corrosion resistance makes them perfect for delivering water over long periods without degradation. The characteristic becomes extremely useful when handling fertilizers, insecticides and other agricultural chemicals that can be corrosive and dangerous to ordinary metal pipes.

Agriculture relies significantly on effective water distribution systems to irrigate crops and ensure maximum growth. GRP pipes have benefits like as smooth inside surfaces and corrosion resistance, which help to efficient water flow and reduce losses due to leaks or blockages. Therefore, GRP pipes are preferred for agricultural irrigation and drinking water transmission due to their efficiency, adaptability and sustainability.

Geographical Penetration

Technological Innovation Driving Sustainable Growth in North American Product Market

North American producers are constantly inventing and upgrading their GRP pipe manufacturing methods, leading in higher-quality products with better performance characteristics. For example, advanced techniques including as filament winding and continuous lamination are used to manufacture GRP pipes that fulfil the specific needs of various applications.

In North America, there is a growing emphasis on environmental responsibility. GRP pipes stand out as eco-friendly alternatives to classic materials like steel and concrete. It leaves a reduced carbon footprint, use less energy to produce and can also be recycled. As sustainability becomes more important for infrastructure projects, demand for GRP pipes is likely to rise. Therefore, the North American product market contributes significantly to the growth of global GRP pipe market.

COVID-19 Impact Analysis

The pandemic affected global supply networks, causing delays in raw material acquisition and shipment. Several companies encountered difficulties obtaining the necessary materials for GRP pipe production, resulting in production delays or halts.

During the outbreak, several companies experienced financial limitations, resulting in budget cuts and reduced investment in infrastructure projects. The further reduced demand for GRP pipes, as end-users postponed purchases or chose cheaper alternatives.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine war may have a greater impact on GRP pipe markets in Europe and other regions because to their proximity to the conflict zone. Infrastructure developments in these regions may be delayed or disrupted, reducing local demand for GRP pipes and potentially leading to market overstock or undersupply.

Geopolitical conflicts in energy-producing regions such as Russia and Ukraine can cause worries about energy security, prompting governments and industry participants to diversify energy sources and delivery lines. It may result in higher expenditures in alternative energy infrastructure, such as LNG terminals and renewable energy projects, affecting the demand for GRP pipes in these industries.

By Type

• E-glass (Alumino-Borosilicate Glass)
• E-CR-Glass (Electrical/Chemical Resistance)
• Others

By Diameter

• Upto 200 mm
• 200 to 1000 mm
• 1000 to 2000 mm
• 2000 to 3000 mm
• More than 3000 mm

By Pressure

• PN1
• PN3
• PN6
• PN10
• PN12
• PN16
• Others

By Stiffness

• SN 2500
• SN 5000
• SN 10000
• Others

By Application

• Chemical
• Oil and Gas
• Sewage
• Irrigation and Drinking Water Transmission
• Energy and Power
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2023, Future Pipe Industries and Empire Infrastructure have teamed up to build sustainable and efficient pipeline infrastructure across Australia.
• In May 2022, Hobas Pipe USA, Inc. has launched a US$ 60 million, five-year capital expenditure program to support the continuous expansion of their Houston manufacturing site.
• In 2021, Hobas Pipe USA supports an important San Antonio infrastructure project. The SAWS plan for the major five-mile pipeline project involves replacing the failing and inadequate line with a product that is supposed to endure 100 years.

Competitive Landscape

The major global players in the market include Esen Plastik, Future Pipe Industries, HOBAS, Graphite India Limited, Sarplast, Graphite Cova, Flowtite Technology AG, Amiblu Holding Gmbh, Enduro Composites and Fibrex Corporation.

Why Purchase the Report?

• To visualize the global GRP pipe market segmentation based on type, diameter, pressure, stiffness, application and region, as well as understands key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of GRP pipe market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global GRP pipe market report would provide approximately77 tables, 89 figures and 183 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies