Assessment of the Global GRP Pipes Market
A recent study published by TMRR evaluates the overall prospects of the GRP Pipes market during the forecast period (2019-2029). As per the findings of the report, the GRP Pipes market is forecasted to grow at a CAGR of ~XX% over the assessment period and surpass the value of ~US$ XX by 2019. The report further ponders over the micro and macro-economic factors that are expected to nurture the growth of the GRP Pipes market.
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Essential Findings of the Report
- Data pertaining to the ongoing R&D activities relevant in the GRP Pipes market
- Future prospects of the GRP Pipes market in various regional markets
- Influence of technological advances on the growth of the GRP Pipes market
- Factors likely to boost or inhibit the growth of the GRP Pipes market
- Marketing, sales, and promotional strategies of prominent market players
The competition landscape chapter of the report offers a detailed assessment of the prominent players operating in the GRP Pipes market. The market share, product range, pricing structure, revenue growth, and growth strategies of various companies are discussed in the report.
The regulatory and government policies relevant to the dynamics of the GRP Pipes market in each regional market is included in the report. In addition, the overall scenario of the GRP Pipes market in different geographies is thoroughly analyzed in the presented report.
A thorough analysis of the various end-users of the GRP Pipes is provided in the report along with informative graphs and tables.
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Drivers and Restraints
There are several factors that are influencing the growth of the global GRP pipes market. GRP pipes have a broad range of properties such as lightweight, durable, and high strength. Such properties make these pipes an excellent carrier for water, wastewater, and industrial chemicals or affluent. Naturally, such a range of properties is helping to push the popularity of GRP pipes market across its several end users. Additionally, an increase in the number of end-users is also a key driving factor for the growth of the global GRP pipes market. Some of the key end-use verticals are oil and gas, chemicals, sewage, and irrigation among others. Respective development in each of these applications leads to increasing demand for GRP pipes and thus helps in the overall development of the market.
However, there are some factors that are slowing down the overall growth of the global GRP pipes market. Due to the highly consolidated nature of the market, there are only a handful of players ruling the product development and distribution network. This consolidation is mainly due to the high initial investment and maintenance cost associated with the GRP pipes. Market players in concentrating on developing newer products that are relatively less expansive. New players in the market are trying to get subsidies and external funding from the governments to enter the market. This is expected to elevate the growth rate of the global GRP pipes market in coming years.
Global GRP Pipes Market – Geographical Outlook
The global GRP pipes market is divided into five key geographical segments for a better understanding of its regional dynamics. These five regions are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Of these, currently, the global market has been dominated by the Asia Pacific segment. It is also expected that the region will continue its stellar contribution towards the overall growth of the global GRP pipes market over the course of the given forecast period of 2018 to 2028. In Asia Pacific, India is projected to show maximum growth rate during the given forecast period. Easy availability of skilled labor, growing demand from end-use verticals, and favorable regulatory environment are expected to drive the growth of Indian market and ultimately that of the overall region.
China is the biggest consumer of GRP pipes in the Asia Pacific region. This high consumption of the nation is influenced by the increasing number of chemical manufacturing plants, high population density, and increasing focus of the government to cut down the dependency on the imports.
Global GRP pipes market is segmented as follows:
- Application Outlook
- Oil & Gas
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Major Queries Addressed in the Report:
- How will the growth of the GRP Pipes market unfold in region 1?
- Which market players are heavily investing in R&D activities?
- What is the most lucrative region for companies in the GRP Pipes market?
- Which is the market share of region 1 and region 2?
- How are companies coping with the soaring prices of raw materials?
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