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.
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.
Attributes |
Details |
Report Title |
Fiber Reinforced Thermoplastic Pipes (FRTP) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Subsea & Offshore Type and Onshore Type) and Applications (Gas Distribution & Transport, Water Injection Lines, Oil Flow Lines, and Others). |
Regional Scope |
North America, Latin America Europe, Asia Pacific, and Middle East & Africa |
Report Coverage |
Market Analysis and Size, Market Segment, Competitive Landscape, Driving Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
TechnipFMC, GE Oil and Gas, National Oilwell Varco, Shawcor, Airborne Oil and Gas, Wienerberger, Cosmoplast, Polyflow, LLC, PES.TEC, and Aerosun Corporation |
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.
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.
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.
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.
Some other reports from this category!