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GRP pipe, also known as glass reinforced plastic pipe, is a composite material made of thermosetting resin and glass fiber. GRP pipe has many advantages over traditional metal or concrete pipes, such as high strength, corrosion resistance, light weight, easy installation and maintenance, long service life and environmental friendliness. GRP pipe is widely used in various industries, such as water supply and drainage, sewage treatment, oil and gas transportation, chemical processing, power generation, irrigation and fire fighting.
Market Overview
According to a report by Grand View Research, the global GRP pipe market size was valued at USD 8.66 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2020 to 2027. The increasing demand for GRP pipe in the water and wastewater sector is the major driving factor for the market growth. The growing awareness of the environmental benefits of GRP pipe over conventional materials is also boosting the market demand. Moreover, the development of new applications and technologies for GRP pipe, such as trenchless installation and cured-in-place pipe (CIPP), is creating new opportunities for the market expansion.
Regional Analysis
The Asia Pacific region dominated the global GRP pipe market in 2019, accounting for more than 40% of the market share. The rapid urbanization and industrialization in countries such as China, India, Japan and South Korea are fueling the demand for GRP pipe in the region. The increasing investment in infrastructure development, especially in the water and wastewater sector, is also supporting the market growth in the region. Furthermore, the favorable government policies and initiatives to promote the use of GRP pipe in various sectors are expected to propel the market growth in the region during the forecast period.
The North America region is also a significant market for GRP pipe, owing to the high adoption of GRP pipe in the oil and gas industry. The shale gas boom and the expansion of pipeline networks in the region are driving the demand for GRP pipe in the region. The stringent environmental regulations and standards for pipeline materials are also encouraging the use of GRP pipe in the region. Additionally, the increasing demand for GRP pipe in other sectors such as power generation and chemical processing is expected to contribute to the market growth in the region.
Conclusion
GRP pipe is a composite material that offers many benefits over traditional metal or concrete pipes. It is widely used in various industries such as water supply and drainage, sewage treatment, oil and gas transportation, chemical processing, power generation, irrigation and fire fighting. The global GRP pipe market is expected to grow at a moderate rate during the forecast period, driven by the increasing demand for GRP pipe in the water and wastewater sector and the growing awareness of its environmental advantages. The Asia Pacific region is expected to lead the market growth due to its rapid urbanization and industrialization. The global GRP pipe market is highly competitive and fragmented with many players vying for market share.
