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Middle East’s FRP pipe industry is expected to witness a compound annual growth rate of 3.1 per cent during 2014 to 2019, according to a market research firm
Lucintel’s report titled Opportunities in Middle East FRP Pipe Industry 2014-2019: Customers, Competitors and Market Analysis said that the Middle East will see a ‘moderate growth’ in the FRP pipe business over the next five years. FRP pipes would be used extensively for development of urban infrastructure, establishment and upgrade of airports, expansion the capacity of petrochemical plants and establishing power plants.
Amiantit, Future Pipe Industries, Abu Dhabi Pipe Factory, Farrasan and Hobas Pipe are the major manufacturers of FRP pipe in different applications in the Middle East market.
The report also added that water and wastewater projects would witness strong growth during the forecast period. Establishment of water desalination plants to supply water for household and industrial applications, increasing awareness towards rainwater harvesting, and water recycling are the driving forces for this segment.
Further, the growing demand to replace existing metal pipes in oil and gas exploration activities (to avoid corrosion) also drive the FRP pipe market in the Middle East.
The report has been put together after a thorough analysis of market trends, competitive landscapes, company profiles, mergers and acquisitions, emerging trends, and key drivers of industry growth.
The study also includes trends and forecasts for Middle East FRP pipe industry through 2019, segmented by applications in sectors like oil and gas, water and wastewater and chemical processes.