Product ID: UCMIG15A2303
Report ID:
UCMIG15A2303 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The Glass Reinforced Plastic (GRP) Piping Market, valued at USD 5.46 billion in 2020, is set to experience growth at a Compound Annual Growth Rate (CAGR) of 4.5% from 2021 to 2027. The escalating pace of urbanization and the increasing global demand for sustainable energy sources serve as catalysts propelling the GRP piping industry forward. As urban centers expand and energy needs intensify, there is a heightened emphasis on durable and corrosion-resistant piping systems, driving the adoption of GRP piping solutions. This trend reflects the market's alignment with the evolving infrastructure requirements and the pursuit of ecologically conscious solutions, positioning GRP piping as a pivotal player in meeting the demands of modern urbanization and sustainable energy development worldwide.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Commodity Chemicals by segment aggregation, the contribution of the Commodity Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG15A2303