Glass Reinforced Plastic (GRP) Piping Market

1. Glass Reinforced Plastic (GRP) Piping Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast To 2027

2. Global Market Scenario of Glass Reinforced Plastic (GRP) Piping Industry The glass reinforced plastic piping market size is anticipated to surpass USD 7.27 bn through 2027, states the latest research by Global Market Insights Inc. With the development of new business centers across emerging economies, the usage of pipes across numerous end users comprising chemical processing, wastewater, sea water, agriculture processing, industrial water, and others has elevated. This has opened new growth grounds for glass reinforced plastic piping. This is looked upon as the next generation optimal solution in the piping sector. Its innovative engineering has not only escalated the returns of investment but also extended the shelf life in comparison to traditional pipe materials.

3. Continue:- Driven by similar factors, numerous key glass reinforced plastic piping market manufacturers are also focusing on the adoption of novel strategies such as acquisitions, mergers, and product launches for increasing their product penetration. The growth is attributed to increased product demand across oil & gas industry. Glass reinforced plastic pipes market are majorly used in exploration, sub-sea piping, crude oil transformation, refinery piping, and gas transmission lines among others. Owing to such wide application, the overall market revenue from oil & gas sectors is poised to grow at 4.5% CAGR through the projected timeframe. GRP piping is also witnessing increasing adoption in the irrigation sector, which is expected to record a valuation of USD 255.3 million through 2027. For maintaining a competitive market and high productivity, farmers are focusing on energy optimization and profitability, which can be achieved by deploying effective piping systems for the usage of water.

4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/2696

5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/2696 The penetration of glass reinforced plastic products in the irrigation sector will increase due to the modernization in irrigation solutions, extended lifespan, low cost of maintenance, and other glass reinforced plastic properties such as anti-corrosion. Speaking of which, glass reinforced plastic piping market from polyester resins is witnessing higher demand. These resins provide high durability and strength to the structure and are the preferred choice in different types of glass reinforced plastic pipe fittings comprising tees, reducers, and elbows. They are also known to have a low coefficient of thermal expansion, are cost-effective, and have quick curing time. Driven by the aforementioned factors, the segment is expected to register a revenue of more than USD 1.20 billion through 2027. Considering the prospects of regional expansion, the Asia Pacific is expected to record a share of 36.18% of the overall glass reinforced plastic piping industry size through the forecasted period. This growth is attributed to the surging population, rising levels of income, and the expansion of the construction industry in the region.

6. Competitive Analysis: Furthermore, the presence of suppliers of low-cost raw material in China and other countries in Southeast Asia will augment glass reinforced plastic piping market size through the forecasted period. However, barriers in supply chain and transportation networks in the light of the COVID-19 pandemic are expected to hamper business growth to a certain extent. Low capacity of production coupled with inadequate supply of raw material has been instrumental in hindering industry growth. In a nutshell, rising expenditure in the sector of infrastructure development is expected to escalate glass reinforced plastic piping industry share through the estimated period.

7. Title Latest Research Report On Glass Reinforced Plastic (GRP) Piping Market@ https://www.gminsights.com/industry-analysis/glass-reinforced-plastic-grp-piping-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/2696 Request for customization: https://www.gminsights.com/roc/2696

8. Stay In Touch You can visit us at: www.gminsights.com THANK YOU