IRVING, Texas, Dec. 3, 2013 /PRNewswire-iReach/ -- The North American FRP pipe market is expected to witness moderate growth during 2013-2018 and reach $607 million by 2018. The North American FRP Pipe market promises good growth opportunities considering significant demands from end application industries such as oil and gas, water/wastewater, chemical, etc. Oil and Gas industry is observing significant acceptance of FRP pipes in the areas such as transmission network, flow lines, well-interventions, etc.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the North American FRP pipe market and presents its findings in "Opportunities for FRP Pipe in North America 2013-2018: Market Size, Market Share, and Forecast Analysis." Demand for FRP pipes with large diameter is expected to increase over the next five years due to rise in demand of FRP pipes in various applications.
The study highlights key challenges such as economy slowdown, low growth rate in end application industries, decline in industrial investments, etc. prevailing in North America FRP pipe market. As compared to pipes made with traditional materials, price of FRP pipes are higher. This is a big challenge for the market as most customers attach more importance on immediate cost versus long-term savings in product lifecycle costs.
Lucintel's market report studies the major drivers of the industry. The companies are focusing more on innovations which would result in new applications and higher penetration of FRP pipes in multiple industries. FRP pipes have started to replace conventional pipes in niche applications like ultra-deep drilling in offshores, well intervention activities, etc. due to its associated advantages in performance parameters. FRP pipe offers high corrosion resistance in both inner and outer surfaces, which eliminate the need of lining process, i.e., a method for rehabilitating broken and cracked pipes. High corrosion resistance of FRP extends the life of the pipe systems, reducing overall operating cost of any plant. FRP pipes require low installation and maintenance cost.
This report gives the insights into the North American FRP pipe market and will help the interested companies to make strategic and financial decisions. For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.
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