Frp Pipe Market Size, Competitive Landscape, Regional Outlook and COVID-19 Impact Analysis 2024
The Fiber-Reinforced Plastic (FRP) pipe market is showing steady growth and is set to experience substantial expansion in the coming years. In 2022, the global market size for FRP pipes was valued at approximately USD 2.58 billion. Moving forward, projections suggest the market will grow from USD 2.68 billion in 2023 to a remarkable USD 3.80 billion by 2032. This steady progress reflects the increasing acceptance of FRP pipes in various industries and applications. The market is anticipated to see a Compound Annual Growth Rate (CAGR) of 3.94% from 2024 to 2032, underscoring its sustainable upward trajectory. Growing Demand for FRP Pipes Across Key Industries The rising demand for FRP pipes is largely driven by their unique combination of lightweight, strength, and durability. These pipes are primarily used in industries such as oil and gas, water treatment, construction, and infrastructure. Their exceptional corrosion resistance and cost-effectiveness are key advanta...