With the expansion in the global oil and gas industry, the sales of fiber reinforced plastics (FRP) pipes are rising rapidly all over the world. This is because of the implementation of stringent performance requirements regarding the products used in various applications in the oil and gas industry. Moreover, in various countries, it has been made mandatory for these products to be in accordance with all the performance requirements and norms.

The materials should possess various mechanical characteristics such as high tensile strength, reliability, fire resistance, and impact strength and are thus, being extensively used in the oil and gas industry. Apart from these factors, the growing requirement for high diameter pipes, that can easily handle high pressure, in the oil and gas industry is also positively impacting the worldwide sales of fiber reinforced plastics pipes. These pipes are also heavily used in platform areas in offshore oil and gas production.

Furthermore, these pipes are gaining popularity as highly cost-effective solutions, on account of the fact that they can be easily installed in various industries, due to their ability to withstand extremely high temperatures and their high strength-to-weight ratios and resistance to corrosion. Moreover, extensive research and development (R&D) projects are being conducted for making these pipes extremely cost-effective. Due to these factors, the global fiber reinforced plastics (FRP) pipe market is recording rapid advancement.

Out of these, the chemical and industrial category registered the highest growth in the market during the last few years, as per the findings of P&S Intelligence, a market research firm based in India. This was because fire and corrosion resistant pipes are required in chemical industries. Moreover, there are strict norms in this industry and these pipes are made as per them in order to meet the necessary norms and standards.

Globally, the fiber reinforced plastics pipe market recorded the highest growth in the Asia-Pacific (APAC) region during the last few years. This was because of the numerous oil and gas and construction activities in the region. In addition to this, the huge demand for improving the sewage treatment facilities in the regional countries is augmenting the sales of the FRP pipes in the region. This is because FRP pipes are preferred over the iron pipes in sewage treatment facilities.

Hence, it can be said with surety that the sales of FRP pipes will skyrocket all over the world in the coming years, mainly because of their rising requirement in the construction and oil and gas industries and sewage treatment facilities in various countries around the world.

Read More: https://www.psmarketresearch.com/market-analysis/frp-pipe-market