Lucintel Estimates North American FRP Pipe Market to Grow at a Moderate CAGR during 2013-2018
Online, August 3, 2014 (Newswire.com) - The North American FRP pipe market is expected to witness moderate growth during 2013-2018 and reach $607 million by 2018. The North American FRP market has an average growth rate due to the increasing end application markets, such as power, chemical, retail fuel, sewage, etc. The end application markets for FRP pipes are oil and gas, retail fuel, sewage, chemical, water/wastewater treatment plants, pulp/paper, power generation, and others.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the North American FRP pipe market and presents its findings in “North America FRP Pipe Market 2013-2018: Trend, Forecast, and Opportunity Analysis”. Demand for large diameter FRP pipes is expected to increase over the next five years due to rise in demand of FRP pipes in various applications.
The study describes the FRP pipe market was affected by the economic slowdown in 2009. The study briefly reflects on the FRP pipe market condition when it was affected by the economic slowdown in 2009.Consumers of FRP pipes from various sectors, such as oil and gas, retail fuel, chemical, etc. faced decline due to lower demand, tight credit market, and low commodity prices. As compared to pipes made with traditional materials, price and installation costs of FRP pipes are higher. This is a big challenge for the market as most customers put more importance on immediate cost versus long term savings in product lifecycle costs.
Lucintel’s report studies the major drivers of the industry. FRP pipe offers high corrosion resistance in both inner and outer surfaces, which eliminate the need of lining process. High corrosion resistance of FRP extends the life of the pipe systems, reducing overall operating cost of any plant. FRP pipes require low installation and maintenance cost.
This report gives the insights into the North American FRP pipe market and will help the interested companies to make strategic and financial decisions. Lucintel offerings include Advanced Material Consulting, Composite Materials Market Report , Composites Consulting, Business Plan and Due Diligence.
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