GRP (Glass Reinforced Plastic) Piping Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By Resin Type (Epoxy, Polyester, Vinyl Ester, and Others), By Diameter Size (Small, Medium, and Large), By Application (Water Treatment, Sewage Piping, Pumping Systems, Chemical Processing, Marine and Offshore, Power Generation, and Others), By Industry (Oil & Gas, Chemical, Construction, Automotive, Waste Water, Energy, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global GRP (Glass Reinforced Plastic) Piping Market was valued at USD 6.18 Billion in 2023 and is anticipated to reach a value of USD 10.78 Billion by 2031 expanding at a CAGR of 7.3% between 2024 and 2031.

GRP (glass reinforced plastic) piping is a composite material which is composed of plastic reinforced with fine glass fibers. This reinforcement adds strength and stiffness to the pipes, while the matric protects the fibers from damage. GRP pipe is based on polymer matrix reinforced with fibers. These pipes are made up of two or more different materials, which provides superior strength. GRP pipes exhibit high strength, excellent corrosion resistance, and a favorable strength-to-weight ratio. Glass reinforced plastics are gaining more popularity in the piping industry owing to their anti-corrosion properties. GRP (glass reinforced plastic) pipes are extensively used in applications where corrosion resistant pipes are required at reasonable costs. These materials offer excellent properties such as corrosion resistance, light weight, allow for smooth holes, and remain stable over longer segments. The market is influenced by factors such as rising demand in wastewater treatment, surging demand for oil and gas industry, rising urbanization, and increasing penetration in onshore and offshore oilfields.

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GRP (Glass Reinforced Plastic) Piping Market Major Driving Forces

Rising Demand in Wastewater Treatment: The increasing wastewater treatment applications has influenced the growth of the GRP (glass reinforced plastic) piping market. GRP pipes are widely used for transportation of corrosive wastewater and sewage, contributing to the market growth.

Surging Demand for Oil and Gas Industry: The growing demand for oil and natural gas is propelling the demand for GRP (glass reinforced plastic) piping. The glass-reinforced plastic pipes are used to transport natural gas and crude oil from wellheads to refineries.

Rising Urbanization: The another significant driving factor of GRP (glass reinforced plastic) piping is the increasing urbanization. The rising urbanization particularly in emerging economies, driving the demand for reliable and long-lasting piping systems.  

Increasing Penetration in Onshore and Offshore Oilfields: Increasing penetration of GRP piping systems in onshore and offshore oilfields is boosting the demand for GRP piping. In the oil and gas industry, GRP piping systems are used for offshore platform piping systems, gas transmission lines, flow lines, exploration, and refinery piping systems.  

GRP (Glass Reinforced Plastic) Piping Market Key Opportunities

Focus on Sustainability: The increasing demand for sustainable energy presents an opportunity for the GRP (glass reinforced plastic) piping market to develop and promote sustainable options. Manufacturers can capitalize on this trend by using recycled and organic materials in production or offering GRP (glass reinforced plastic) piping with responsible sustainable production practices.

Replacement of Aging Infrastructure: Many countries are significantly investing in upgrading their aging infrastructure, which is anticipated to create lucrative opportunities for market growth. GRP (glass reinforced plastic) piping are light in weight, corrosion resistant, and has long lifespan make it preferred solution for these projects.

Innovation in Product: Ongoing technological innovations in materials, manufacturing processes, and product design create an opportunity for market expansion. Growing focus on development of advanced composites with enhanced properties, such as improved chemical resistance, and higher strength-to-weight ratios can further boost in demand for GRP (Glass Reinforced Plastic) piping.

GRP (Glass Reinforced Plastic) Piping Market Key Trends

·         The growing focus on developing cost-effective GRP (glass reinforced plastic) piping system

·         Rise in demand for GRP (glass reinforced plastic) piping in wastewater treatment applications  

·         Increasing hydrocarbon exploration and production are propelling demand GRP (glass reinforced plastic) piping systems

·         The growing emphasis on developing sustainable and eco-friendly solutions due to increasing concerns about environmental impact

·         Sustainable packaging and shipping solutions to reduce the environmental impact of GRP (glass reinforced plastic) piping distribution

·         Increased use of automation and digitalization for design, simulation, and monitoring of GRP (glass reinforced plastic) piping are gaining traction in the market

·         Ongoing technological advancements in materials, and manufacturing processes for developing advanced composites with superior properties

Region-wise Market Insights

North America accounted for the largest market share at 36.3% in 2023 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 7.5% between 2024 and 2031.

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Asia Pacific region dominates the GRP (glass reinforced plastic) piping market in terms of market share and is predicted to grow rapidly in coming years. This is due to the increasing demand for GRP (glass reinforced plastics) pipes due to rapid industrialization, urbanization, and infrastructure development. Additionally, in China, the rising oil and gas exploration activities, and growing demand in wastewater treatment drives the market growth. In North America, the demand is driven by high penetration of GRP (glass reinforced plastics) pipes, rising need for energy, and stringent environmental regulations in the region. In Europe, the increasing demand for oil and gas industry is expected to boost the market growth. The Middle East and Africa has been witnessing a growing demand for GRP (glass reinforced plastics) pipes with growing investment in infrastructure development whereas, in South America, the market is influenced by rapid growth of end-use industries, such as oil and gas, automotive, water treatment, and construction.  

Market Competition Landscape

The global GRP (glass reinforced plastic) piping market is characterized by high degree of competition among a large number of manufacturers. Key players in the GRP (glass reinforced plastic) piping market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Furthermore, major players operating in the market are increasingly investing in technological innovations to develop advanced composites with superior properties. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global GRP (glass reinforced plastic) piping market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Amiblu Holding GmbH

·         Composite Pipes Industry

·         Future Pipe Industries

·         Saudi Arabian Amiantit Company

·         Sarplast SA

·         Enduro

·         Veplas d.d.

·         Harwal Group of Companies

·         Fibrex Corporation

·         BASF SE

·         Advanced Composites Inc.

·         Albemarle Corporation  

·         Mitsubishi Chemical Corporation

·         SONGWON