When we think of asphalt, our minds often conjure images of smooth road surfaces stretching into the distance. However, the uses and benefits of asphalt go far beyond just paving roads. In this blog post, we'll explore the versatility and durability of asphalt, shedding light on its various applications and the importance of proper maintenance. The Basics of Asphalt Asphalt, also known as bitumen, is a sticky, black, and highly viscous liquid or semi-solid form of petroleum. It is a crucial component in the construction industry, primarily used for paving roads, driveways, and parking lots. Its popularity stems from its cost-effectiveness, ease of installation, and exceptional durability. Beyond Roads - Surprising Applications While roads are the most common application of asphalt, its uses extend into various surprising areas. For instance, asphalt shingles are a popular roofing material due to their weather resistance and longevity. Additionally, it's used in the construction...
GRP Pipe Market Size, Research, Growth and Forecast to 2029 | GRP Pipe Industry Demand in South Korea
The global GRP pipe market size is set to expand at a steady pace in the coming years owing to the wide applicability and excellent benefits of GRP pipes across industries, shares Fortune Business Insights™ in its report, titled “GRP Pipe Market Size, Share & Industry Analysis, By Application (Chemicals and Oil & Gas, Industrial, Sewage, Irrigation & drinking water transmission, Energy & Power, Others) and Regional Forecast, 2022-2029”. The biggest and most touted advantage of a Glass-Reinforced Polyester (GRP) pipe is that it is resistant to corrosion. These pipes are designed to have a long service life without any special lining or coating, which makes them highly cost-effective for the end-user. Owing to this property, these pipes are extensively adopted across a range of industries associated with chemical production, such as flue-gas desulfurization, chlor-alkali & chemical plants, metal production, and pulp & paper mills. Another distinct feature of GRP pipes is that they are extremely lightweight. For example, these pipes are one-tenth the weight of concrete pipes and one-fourth the weight of ductile iron (DI) pipes. Thus, they are save costs on transportation and material handling processes.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the GRP Pipe Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global GRP Pipe Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
What Does the Report Offer?
- Valuable insights into the regional prospects of the market;
- In-depth analysis of the market drivers and challenges;
- Comprehensive profiling of key market players and careful study of their strategies; and
- Microscopic research into the different market segments.
Market Driver
Heightening Demand for Food Worldwide to Create New Opportunities
A prominent factor driving the GRP pipe market growth is the continuously rising demand for food around the globe. According to the United Nations (UN), global population will touch almost 10 billion by 2050, with 370 million people estimated to go undernourished during this period. The UN Food and Agriculture Organization (FAO) projects that, in order to feed this growing population, food production will need to be increased by a whopping 70% over the next three decades. To boost food production, farms around the globe will need stable, durable, and reliable access to water resources, which will require the setting up efficient irrigation and water harvesting systems, especially in developing economies. Countries such as India, China, Bangladesh, and Vietnam in Asia and Nigeria, Kenya, and South Africa in Africa are investing copiously to modernize and mechanize their irrigation systems. This will create huge opportunities for GRP pipe manufacturers, for the demand for these corrosion-resistant, lightweight pipes is likely to skyrocket as these countries transform their agriculture sectors.
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Regional Insights
North America & Europe to Lead the Market Backed by Robust Manufacturing Infrastructure
North America and Europe are expected to dominate the GRP pipe market share in the forthcoming years owing to the strong and well-established manufacturing infrastructure and technologies in these regions. Additionally, digitization is fueling electricity consumption, particularly in the US & Canada and Western Europe, which in turn is creating demand for GRP pipes for power-plant projects.
In Asia Pacific, the market is anticipated to experience promising prospects as developing countries such as India and China have made massive investments in hydropower projects as well as in large-scale construction projects. The market in the Middle East & Africa region is expected to make considerable gains owing to the initiation of desalinization projects by Saudi Arabia. In addition, the widespread demand for efficient piping solutions from the oil industry will further boost the regional market growth.
Competitive Landscape
Portfolio Diversification to be the Prime Focus Area for Key Players
Key players in this market are currently focused on diversifying their offerings and strengthening their portfolios to expand their presence in the market. Besides this, companies are also engaging in strategic acquisitions and collaborations to deepen their footprint in the market and broaden sales horizons.
Industry Developments:
- July 2020: Ambilu Holding set up a wastewater channel of GRP pipes in the town of Wilhelmshaven in northern Germany. The channel consists of 300m pipes, DN 700-1000, with the pipes guaranteeing a long service life owing to their corrosion- and abrasion-resistant properties.
- November 2019: FSN Capital V signed an agreement to acquire iMPREG Group from BWB Partners. The iMPREG Group is a leading producer and supplier of glass-reinforced plastic cured-in-place-pipe liners, which enable repair of damaged wastewater pipes and sewer main pipes.
List of Key Players Profiled in the GRP Pipe Market Report:
- iMPREG Group
- Saudi Arabian Amiantit Company
- Abu Dhabi Pipe Factory
- Chemical Process Piping Pvt. Ltd.
- Sarplast SA
- FIBREX
- China National Building Material Company (CNBM)
- Harwal Group
- Plasticon Composites
- Graphite India Limited
- Dubai Pipes Factory Co.
- Amiblu Holding GmbH
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