Covid-19 Impact on North American FRP Pipe Market to See Strong Expansion Through 2026
FRP (fiberglass-reinforced plastic) pipes have had a brilliant journey over the eons and have undoubtedly emerged as one of the most promising alternatives to steel and aluminum pipes. FRP pipes offer a long list of benefits over their counterparts including 75% lower weight than steel pipes, the most prevailed type across industries. The lower weight of FRP pipes allows companies to quickly install pipes, substantially reducing the overall installation cost. Furthermore, FRP pipes have low thermal insulating properties; only about 1/100 to 1/1000 that of traditional steel, which means they effectively maintain the temperature of liquids inside the pipe.
The COVID-19 Pandemic has devastated the FRP pipe demand in all the major markets across regions with North America no exception. The region’s market for FRP pipes is estimated to record one of the biggest declines among regions in 2020. The demand for FRP pipes is estimated to be plateaued in 2020, followed by healthy market recoveries in years to come, ultimately driving the market to reach US$ 0.97 billion in 2026. All the major FRP pipe manufacturers are squeezing in their operational cost, halting their expansion plans, targeting their high-margin business, and reconfiguring their strategies with the sole aim to survive in this breath-taking market environment.
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https://www.stratviewresearch.com/1051/North-American-FRP-Pipe-Market.html Covid-19 Impact on North American FRP Pipe Market to See Strong Expansion Through 2026
FRP (fiberglass-reinforced plastic) pipes have had a brilliant journey over the eons and have undoubtedly emerged as one of the most promising alternatives to steel and aluminum pipes. FRP pipes offer a long list of benefits over their counterparts including 75% lower weight than steel pipes, the most prevailed type across industries. The lower weight of FRP pipes allows companies to quickly install pipes, substantially reducing the overall installation cost. Furthermore, FRP pipes have low thermal insulating properties; only about 1/100 to 1/1000 that of traditional steel, which means they effectively maintain the temperature of liquids inside the pipe.
The COVID-19 Pandemic has devastated the FRP pipe demand in all the major markets across regions with North America no exception. The region’s market for FRP pipes is estimated to record one of the biggest declines among regions in 2020. The demand for FRP pipes is estimated to be plateaued in 2020, followed by healthy market recoveries in years to come, ultimately driving the market to reach US$ 0.97 billion in 2026. All the major FRP pipe manufacturers are squeezing in their operational cost, halting their expansion plans, targeting their high-margin business, and reconfiguring their strategies with the sole aim to survive in this breath-taking market environment.
Read More: https://www.stratviewresearch.com/1051/North-American-FRP-Pipe-Market.html