CIPP Industry Poised to Top $2.5 Billion!
It’s just as we thought – the CIPP market is growing by leaps and bounds with no end in sight.
Stratview Research, and Illinois-based global marketing intelligence firm, has released a report detailing the CIPP market forecast over the next few years (2018 to 2023) that predicts an ever-increasing popularity of CIPP “owing to its numerous benefits over the competing ones”.
According to the Stratview report, the CIPP market is expected to enjoy growth opportunity to an estimated value of $2.6 billion in 2023, with North America expected to remain the largest segment of the global CIPP market. The report notes that there is just under a million miles of sewer pipe and a half a million miles of private laterals in the USA alone, and that most of them are more than 60 years old (already 10 years past their average lifetime).
There are a number of factors driving the market growth:
- aging structures
- increased awareness of the benefits of trenchless techniques
- increased spending by utilities and municipalities for rehabilitation
- the high performance of CIPP over other technologies
While the report notes that vinyl ester and polyester resins are attractive to some due to their lower cost, it does also confirm what we already knew – that epoxy resins to not have hazardous air pollutants or cause VOCs, making it “one of the eco-friendliest choices for CIPP”.
Steam curing is projected to remain the dominant curing method, at least partly because the set-up time and the curing time are lower than hot water curing, and that no “large-scale water on the job site” is required with steam curing.
Fiberglass is, of course, expected to remain the fabric of choice; the report notes that felt, for instance, “generates by-products that negatively affect the environment”.
The report also mentions the advantages of a liner that does not need refrigeration and that can be delivered to the job site. Formadrain’s revolutionary Durapox® resin provides all those advantages and more.
The full report is available here.
The future looks very bright for Formadrain licensees to take their markets by storm!