Fiberglass Pipe Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2255
Fiberglass Pipe Market size is likely to witness significant gains due to increasing usage of lightweight, high corrosion resistance, fire retardant and high stiffness tubes. Increasing oil & gas production and rising demand for water & sewage management applications would promulgate the industry growth in forecast timeframe.
Key ingredients used for manufacturing fiberglass incudes limestone, soda ash, and silica sand. Global fiberglass market size was over USD 13 billion in 2016 and may exceed USD 20 billion by 2024, with gains at over 6%. Fiberglass pipe offers a wide range of advantages, which includes corrosion resistances, low maintenance costs, easy installations and flexibility in producing complex shapes. Traditional products such as PVC, concrete and steel channel are unable to meet the changing consumer needs. Thus, the significant features of the product would propel the industry growth.
Glass Reinforced Epoxy (GRE) fiberglass pipe market size may witness steady gains over the foreseeable period. Excellent corrosion resistance and long service life, superior flow characteristics, low installation cost, minimum maintenance cost and exceptional performance against pressures and high capacity load of product would promulgate industry growth over the forecast timeframe. GRE fiberglass pipe is likely to grow due to its application in various onshore and offshore oil & gas exploration and production.
GRP fiberglass pipe market size may witness a significant growth over the projected period owing to excellent degree of swelling, water resistance, and non-embrittlement characteristics. Moreover, increasing infrastructure spending in emerging nations are expected to boost fiberglass pipe market demand.
Fiberglass pipe market size from sewage applications may witness significant gains over the forecast timeframe. They are majorly used in sewage management due to its corrosion resistance, light weight, cost effectivity and durability. It offers less frictional losses and provide good hydraulic efficiency. Thus, it is suitable for ground & underground sewage applications. Global sewage treatment plants market is projected to grow at over 9.3% up to 2024. In sewage treatment process, fiberglass pipe is utilized in water & wastewater treatment plants, metallurgy sewage facilities, and industrial effluents treatment plants. Favorable government initiatives towards improving sanitary conditions which should be manufactured in accordance with ASTM D3262, may further stimulate industry growth.
Positive application scope in oil & gas industry may witness significant gains due to increasing production and exploration of oil & gas in both onshore and offshore. Global onshore oil & gas pipeline market may witness significant gains at over 6.5% over the forecast timeframe. Fiberglass pipe are utilized in this sector for crude oil, refined products and natural gas transportation. Rising number of shale gas extraction projects may contribute towards various drilling businesses. Government is taking various measures for smooth transportation which has led manufactures to adopt advanced technology such as Internet of Things (IoT). This technology has led the onshore and offshore end-users to capitalize on smart technology benefits in the piping system.
North America, led by Canada and the U.S. fiberglass pipe market size may witness a steady growth owing to rising demand for LPG and natural gas in residential and commercial sectors. Advanced piping and refining infrastructure along with drilling technologies will provide easy access to the market. Increasing usage of FRP pipes may continue waste water and sewage applications on account of increase life cycle and various mechanical characteristics may drive regional growth.
Asia Pacific driven by Japan, India, South Korea and China fiberglass pipe market size may witness surge in demand over the forecast timeframe. Increasing energy demand in India, Japan, and China along with rising preference for natural gas for coal replacement is likely to enhance regional growth. Transportation of natural gas through pipeline is more cost efficient and economical as compared to transportation of gas through LNG vessels. Strong infrastructure spending for these businesses along with replacement for concrete and conventional steel pipes will stimulate industry growth demand in the region.
Europe fiberglass pipe market size, led by UK, France, Italy and Germany will witness an uptrend over the forecast timeframe. Increasing dependency on Russia for natural gas imports may propel product demand. Companies are setting up oil drilling activities which is likely to have a positive influence on regional industry growth.
Middle East and Africa led by Kuwait, Oman, Dubai, South Africa fiberglass pipe market size is likely to witness a steady gain due to increasing investment spending towards urban infrastructure, establishments of airports, and petrochemical plants expansion.
Key raw materials used for manufacturing GRP pipe include resins, fiberglass, catalysts, and accelerator. High raw material costs may challenge industry and affect fiberglass pipe market price trend.
Global fiberglass pipe market share is moderately consolidated. Major players operating in the industry include Graphite India Limited, National Oilwell Varco, Saudi Arabian AMIANTIT Company, HOBAS International GmbH, PPG Industries, and Fibrex Corporation. Favorable trend towards forming new SBUs is likely to have a positive impact in the fiberglass pipe market demand.
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