Irving, TX (PressExposure) June 19, 2014 -- The North American FRP pipe market is projected to reach $607 million by 2018. Oil and gas is the largest segment in terms of value shipment, comprising approximately 30% of the total North American market in 2012 and representing a huge growth potential. FRP pipes continue to increasingly find their way into more applications for storing or transporting corrosive materials, which points to their future potential for significant growth.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the various applications of FRP pipes and presents its findings in "North America FRP Pipe Market 2013-2018: Trend, Forecast, and Opportunity Analysis".The major users of fiberglass pipes are in such industries as oil/gas, offshore, chemical, water/wastewater, retail petroleum, and sewage. This report focuses on these major markets and estimates the size of fiberglass pipes in these industries.
The report briefly reflects on the cascading effect on the price of raw materials caused by the fluctuation in global oil prices. This, in turn, impacts the production cost of FRP pipes. Volatility in raw material prices proves difficult to pass onto buyers as bargaining powers are high with a wide choice of substitute materials. Another challenge is that the growth depends on the replacement market rather than the technological changes.
The study also provides a concise overview of the industry drivers. Government rules and regulations drive the demand for the composites pipe market. The consumption of FRP products has increased in North America after the announcement of CAIR (Clean Air Interstate Rule). High corrosion resistance, longer durability, strength, and less maintenance requirements are a few qualities which make FRP pipes better than traditional materials. Due to these properties, FRP pipes continue to gain popularity in new applications in the marketplace.
This in-depth research study is designed and intended for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives, and consultants focused on oil/gas, offshore, chemical, water/wastewater, retail petroleum, and sewage. The data and analysis found in this report can be utilized for a variety of functional business reasons.
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