Glass Reinforced Plastic Piping Market to POST COVID-19 Impact Witness Growth Acceleration During 2021-2027

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Glass Reinforced Plastic Piping Market Share,
Size, Trends and Growth 2021 to 2027
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Global Market Scenario of Glass Reinforced
Plastic Piping Industry

• The glass reinforced plastic piping market size
  is anticipated to surpass USD 7.27 bn through
  2027, states the latest research by Global Market
  Insights Inc.
• With the development of new business centers
  across emerging economies, the usage of pipes
  across numerous end users comprising chemical
  processing, wastewater, sea water, agriculture
  processing, industrial water, and others has
  elevated. This has opened new growth grounds for
  glass reinforced plastic piping.
• This is looked upon as the next generation
  optimal solution in the piping sector. Its
  innovative engineering has not only escalated the
  returns of investment but also extended the shelf
  life in comparison to traditional pipe materials.
• Driven by similar factors, numerous key glass
  reinforced plastic piping market manufacturers
  are also focusing on the adoption of novel
  strategies such as acquisitions, mergers, and
  product launches for increasing their product
  penetration.
• The growth is attributed to increased product
  demand across oil gas industry. Glass
  reinforced plastic pipes market are majorly used
  in exploration, sub-sea piping, crude oil
  transformation, refinery piping, and gas
  transmission lines among others.

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Continue-

• GRP piping is also witnessing increasing adoption
  in the irrigation sector, which is expected to
  record a valuation of USD 255.3 million through
  2027. For maintaining a competitive market and
  high productivity, farmers are focusing on energy
  optimization and profitability, which can be
  achieved by deploying effective piping systems
  for the usage of water.
• The penetration of glass reinforced plastic
  products in the irrigation sector will increase
  due to the modernization in irrigation solutions,
  extended lifespan, low cost of maintenance, and
  other glass reinforced plastic properties such as
  anti-corrosion.
• Speaking of which, glass reinforced plastic
  piping market from polyester resins is witnessing
  higher demand. These resins provide high
  durability and strength to the structure and are
  the preferred choice in different types of glass
  reinforced plastic pipe fittings comprising tees,
  reducers, and elbows. They are also known to have
  a low coefficient of thermal expansion, are
  cost-effective, and have quick curing time.
  Driven by the aforementioned factors, the segment
  is expected to register a revenue of more than
  USD 1.20 billion through 2027.
• Considering the prospects of regional expansion,
  the Asia Pacific is expected to record a share of
  36.18 of the overall glass reinforced plastic
  piping industry size through the forecasted
  period.

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360 Industry Analysis

• Furthermore, the presence of suppliers of
  low-cost raw material in China and other
  countries in Southeast Asia will augment glass
  reinforced plastic piping market size through the
  forecasted period.
• However, barriers in supply chain and
  transportation networks in the light of the
  COVID-19 pandemic are expected to hamper business
  growth to a certain extent. Low capacity of
  production coupled with inadequate supply of raw
  material has been instrumental in hindering
  industry growth.
• In a nutshell, rising expenditure in the sector
  of infrastructure development is expected to
  escalate glass reinforced plastic piping industry
  share through the estimated period.
•  

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• Competitive Analysis
• Enduro Composites, HOBAS, Harwal Group, Hanwei
  Energy Services Corp., Composite Pipes Industry,
  Dubai Pipes Factory, Graphite India Limited,
  Plasticon Composites, Fibrex, Sarplast, Smithline
  Reinforced Composites, Industrial Plastic
  Systems, China National Building Material
  Company, Global Pipe, Technobell are some of the
  key players operating in the Glass Reinforced
  Plastic Piping Market.

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