The global fiber reinforced thermoplastic pipes (FRTP) market size was USD 1.5 billion in 2020 and is expected to expand at a CAGR of 3.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing use of thermoplastic pipes as a substitute to steel pipes, which directly helps companies and operators to increase efficiency and productivity and cost-effectiveness.
FRTP confers high strength-to-weight ratio, extended pipe lifetime, sound durability, superior chemical and heat resistance, and be easily integrated in the system.
Market Drivers, Restraints, Trends, and Opportunities
- Rising demand for pipes that provide high strength and durability for water, wastewater, and chemical facilities are expected to drive the market growth during the forecast period.
- Growing requirement for materials that can ensure maximum performance in the tough environments is projected to boost the market expansion during the forecast period.
- Increasing adoption of FRPT to prevent corrosion, reduce weight, increase flexibility is speculated to proliferate the market growth.
- The substantial increase in oil & gas production is speculated to stimulate the growth of the market.
Scope of the Report
The report on the global fiber reinforced thermoplastic pipes (FRTP) market
includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fiber Reinforced Thermoplastic Pipes (FRTP) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Subsea & Offshore Type and Onshore Type) and Applications (Gas Distribution & Transport, Water Injection Lines, Oil Flow Lines, and Others).
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Regional Scope
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North America, Latin America Europe, Asia Pacific, and Middle East & Africa
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Report Coverage
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Market Analysis and Size, Market Segment, Competitive Landscape, Driving Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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TechnipFMC, GE Oil and Gas, National Oilwell Varco, Shawcor, Airborne Oil and Gas, Wienerberger, Cosmoplast, Polyflow, LLC, PES.TEC, and Aerosun Corporation
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Fiber Reinforced Thermoplastic Pipes (FRTP) Market
Subsea & offshore segment to constitute a key market share
Based on types, the market is divided into subsea & offshore type and onshore type. The subsea & offshore segment is expected to constitute a key market share during the forecast period. Increasing use of FRTP in production flow lines is driving the segment growth. High production of crude oil in offshore oilfields is expected to drive the market segment growth.
Gas distribution & transport segment to dominate the market
On the basis of applications, the market is segmented into gas distribution & transport, Water injection lines, oil flow lines and others. The gas distribution and transport segment is expected to expand at a CAGR of 3.4% during the forecast period. The primary use of FRTP has been in the upstream oil & gas industry for a range of applications covering oil gathering, gas gathering, water injection and water disposal. Therefore, followed by gas distribution, the oil flow lines segment is expected to account a significant market share in the projected line. Moreover, increasing demand for high performance materials, high strength reinforcements, and unique construction is projected to propel the market segment.
North America to account a large market share
In terms of regions, the market is classified as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is expected to account for a large market share owing to the high investments by the government in water treatment and the potable water supply industry. Increasing shale gas exploration activities in the US has resulted into the demand for durable piping solutions, boosting the market growth in the region, followed by Europe and Asia Pacific. Moreover, increasing technological innovations and a wide range of applications are driving the demand for FRTP in countries such as the US and Canada, spurring the regional market growth.
Segments
Segments Covered in the Report
Types
- Subsea and Offshore Type
- Onshore Type
Applications
- Gas Distribution and Transport
- Water Injection Lines
- Oil Flow Lines
- Others
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key players
- TechnipFMC
- GE Oil and Gas
- National Oilwell Varco
- Shawcor
- Airborne Oil and Gas
- Wienerberger
- Cosmoplast
- Polyflow, LLC
- PES.TEC
- Aerosun Corporation
Competitive Landscape
The major players covered in the fiber reinforced thermoplastic pipes market report are TechnipFMC, GE Oil and Gas, National Oilwell Varco, Shawcor, Airborne Oil and Gas, Wienerberger, Cosmoplast, Polyflow, LLC, PES.TEC, and Aerosun Corporation.
Companies are engaging acquisition and mergers, research & development, and product development to expand their market share.
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