The Global Composite Pipes Market Will Grow Robustly Over The Forecast Period Owing To Increased Durability
Composite pipes are made up of unreinforced thermoplastics such as high-density polyethene (HDPE), polyvinyl chloride (PVC), polypropylene (PP), fibre reinforced plastics (FRP), and glass reinforced plastics (GRP). These pipes are resistant to corrosion and have stronger mechanical properties. Considering the size and thickness, composite pipes are thicker, stronger, and sturdier than unreinforced pipe materials. They can resist forces during the process of installation allowing them to installed deeper and drawn with greater force. These pipes are highly favoured in trenchless technology because they are easier to use.
These Composite pipes are used to carry sewage water, potable water, oil, gas, and other chemicals. The market for frozen foods is a growing market especially in the developing nations owing to increasing population coupled with rapid urbanization. The most common raw material used in making these pipes include concrete, iron, steel, and thermoplastic.
Composite pipes have a number of advantages over other pipes such as improved fatigue capacity, higher strain limits, lower weight, high strength, ease of deployment, and lower weight. Additionally, the composite pipes have a number of end-users, including the Oil & Gas Industry, Construction Industry, Agriculture Industry, Food & Beverages Industry, and Chemical Industry, among others.
The market is growing significantly since the past few years and is expected to grow at a significant rate in the coming years, owing to cost-effectiveness, less requirement of maintenance, and ease of fast installation. Moreover, the reusability of these pipes and life expectancy of composing pipes, which is nearly about 50-100 years, are fueling the sales of the composite pipes market.
High Demand From Emerging Economies Across The Globe
Asia-Pacific is expected to grow robustly over the forecast period owing to the rise in demand for composites pipes. Rising number of manufacturers, distributors, and suppliers over the globe will fuel the growth worldwide, especially in the regions such as Asia Pacific, North America, and Europe.
North America and Europe are expected to witness the significant growth in sales of composite pipes during the forecast period. The growth can be attributed to increasing demand for composite pipes from various applications such as air conditioning, vacuum systems, diesel/ petrol/kerosene, plumbing, construction among others.
On the other hand, the Middle East & Africa and Latin America are expected to grow at a steady rate owing to the increasing application of composite pipe in natural gas distribution, automotive industry, and textile industry among others.
The market for composite pipes is extremely fragmented with the presence of major key players and new entrants over the globe. The market is focused on improving technology owing to the increasing use of composite pipes in the various end-use applications. Some of the leading players in the market include Open Text, Lochbridge, Teletrac Navman, OnStar, Pivotal Software, Omnitracs, Ridgetop, Trimble, National Instruments, IJet Technologies, DataRPM, and Telogis among others. The market has a number of opportunities to expand its customer base such as reliable and fast processing and making the pipes highly corrosion resistance in acidic environments.