Fiber Reinforced Thermoplastic Pipes

1. Fiber Reinforced Thermoplastic Pipes (FRTP) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global fiber reinforced thermoplastic pipes (FRTP) market size was USD 1.5 billion in 2020 and is expected to expand at a CAGR of 3.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing use of thermoplastic pipes as a substitute to steel pipes, which directly helps companies and operators to increase efficiency and productivity and cost-effectiveness. FRTP confers high strength-to-weight ratio, extended pipe lifetime, sound durability, superior chemical and heat resistance, and be easily integrated in the system. Market Trends, Drivers, Restraints, and Opportunities  Rising demand for pipes that provide high strength and durability for water, wastewater, and chemical facilities are expected to drive the market growth during the forecast period. Growing requirement for materials that can ensure maximum performance in the tough environments is projected to boost the market expansion during the forecast period. Increasing adoption of FRPT to prevent corrosion, reduce weight, increase flexibility is speculated to proliferate the market growth. The substantial increase in oil & gas production is speculated to stimulate the growth of the market.    Sample - https://growthmarketreports.com/request-sample/1434 Market Segment Insights

2. Subsea & offshore segment to constitute a key market share Based on types, the market is divided into subsea & offshore type and onshore type. The subsea & offshore segment is expected to constitute a key market share during the forecast period. Increasing use of FRTP in production flow lines is driving the segment growth. High production of crude oil in offshore oilfields is expected to drive the market segment growth. Gas distribution & transportsegment to dominate the market On the basis of applications, the market is segmented into gas distribution & transport, Water injection lines, oil flow lines and others. The gas distribution and transport segment is expected to expand at a CAGR of 3.4% during the forecast period. The primary use of FRTP has been in the upstream oil & gas industry for a range of applications covering oil gathering, gas gathering, water injection and water disposal. Therefore, followed by gas distribution, the oil flow lines segment is expected to account a significant market share in the projected line. Moreover, increasing demand for high performance materials, high strength reinforcements, and unique construction is projected to propel the market segment. North America to account a large market share In terms of regions, the market is classified as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is expected to account for a large market share owing to the high investments by the government in water treatment and the potable water supply industry. Increasing shale gas exploration activities in the US has resulted into the demand for durable piping solutions, boosting the market growth in the region, followed by Europe and Asia Pacific. Moreover, increasing technological innovations and a wide range of applications are driving the demand for FRTP in countries such as the US and Canada, spurringthe regional market growth. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1434 Competitive Landscape The major players covered in the fiber reinforced thermoplastic pipes market report are TechnipFMC, GE Oil and Gas, National Oilwell Varco, Shawcor, Airborne Oil and Gas, Wienerberger, Cosmoplast, Polyflow, LLC, PES.TEC, and Aerosun Corporation. Companies are engaging acquisition and mergers, research & development, and product development to expand their market share. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted

3. to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. Contact: Growth Market Reports Phone: +1 909 414 1393 Email: sales@growthmarketreports.com Web: https://growthmarketreports.com Follow Us: LinkedIn | Twitter