Fiberglass Pipes Market

Fiberglass Pipes Market Size (2023-2028)

The Fiberglass Pipes Market was valued at $ 5.26 billion in 2022 and is predicted to reach $ 7.32 billion in 2028, with a CAGR of 7.72% from 2023-2028

Fiberglass pipes have become a significant part of uses with high features, low maintenance, and long product life. Which, the filament winding is the easy automation process and the most suitable for the manufacture of pipes, containers, and tubes. Fiberglass pipes can be developed from the composition of materials like fiberglass, polyester resin, and fillers. They provide strength, long durability, and excellent tensile strength. This property is necessary for onshore and offshore applications against extreme pressures and conditions. Fiberglass pipes are suitable for the transport of highly corrosive materials, acids, and biological fluids. It offers low installation costs, corrosion resistance, and lightweight benefits that are predicted to see significant expansion in the coming years.

The escalating adoption of fiberglass pipe in various end-application industries, such as oil and gas and irrigation, is a key factor that is predicted to drive the expansion of the worldwide industry. Also, the escalating call from the chemical and fiberglass industries for wastewater is another factor that is predicted to drive worldwide industry expansion in the coming years.

Fiberglass Pipes Market Drivers:

The expansion of the fiberglass pipe industry is currently driven by its low maintenance costs compared to traditional tubes. Escalating calls for lightweight, corrosion-resistant, and durable pipes in several countries due to the high associated project cost for the installation of pipes for pipes and heavy materials. This factor is predicted to fuel the global fiberglass pipe industry for years to come. Rapid industrialization in all countries is driving the call for profitable and sustainable pipes due to the rising cost of metal pipes and tubes. This is predicted to boost the fiberglass pipe market during the foreseen period. The increase in population has escalated the call for fuel, oil, and gas to meet daily needs. This in turn has escalated in the construction and implementation of pipelines to transport these materials. This is an important factor that is predicted to drive the call for fiberglass pipes in the coming years. Polyurethane is predicted to show a significant expansion rate for the fiberglass pipe market demand in the coming years due to its excellent performance under high-pressure conditions. This factor is likely to drive call for fiberglass pipe during the foreseen period. The expansion of the fiberglass pipe market size is majorly promoted by its low maintenance costs. This is reinforced by the increase in exploration and production activities in the oil and gas industry and the escalating call for wastewater and water management applications. In addition to this, the rapid development of emerging economies is driving a strong call in the fiberglass business.

Restraints in the Fiberglass Pipes Market:

Fluctuations in carbon fiber raw material prices are predicted to hamper the worldwide fiberglass pipe industry during the estimated period. Carbon fiber is a highly preferred material for the manufacture of automobile components and aircraft components.

Opportunities in the Fiberglass Pipes Market:

Filament winding is widely adopted in the large-scale fiberglass pipe and tube manufacturing process due to the advantages of high efficiency and low cost. The main advantages of filament winding are highly preferred over the other process that is likely to drive the industry for fiberglass pipes during the foreseen period. Due to escalating call from the aviation and automotive industry, fiberglass raw material suppliers are facing strong pressure from other end-use industries, where pipes are primarily employed. The increase in call and the supply gap has resulted in a significant increase in the commercial prices of carbon fiber materials around the world.

Challenges in the Fiberglass Pipes Market:

Fluctuation in raw material prices followed by a gap between supply and call is the main factor predicted to hamper the overall call for fiberglass pipes. High-cost raw materials are a major factor that is predicted to slow the expansion of the target industry. Another factor that is likely to challenge worldwide industry expansion to some degree is the escalating call for low-cost technologies.

FIBERGLASS PIPES MARKET REPORT COVERAGE:

Fiberglass Pipes Market Segmentation

Fiberglass Pipes Market - By Type

• GRP

• GRE

• Others

The GRE pipe segment represents the main industry share due to its high strength, high corrosion resistance and ease of installation.

Fiberglass Pipes Market - By Fiber

• E-Glass

• T-Glass

• Others

Fiberglass Pipes Market - By Application

• Oil & Gas

• Chemicals

• Sewage

• Irrigation

• Others

Chemical application is the fastest-growing segment in the global fiberglass pipe industry. Fiberglass pipes offer several characteristics, including lightness, dimensional stability, corrosion resistance, and ease of installation compared to traditional materials such as concrete and metal pipes, so the use of fiberglass pipes in Chemical, oil and gas and wastewater applications are growing at a high rate.

Fiberglass Pipes Market - By Region

The Fiberglass Pipes Market Report includes the segmentation of Regions with their respective Countries.

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East & Africa 

Asia-Pacific has the largest share of the fiberglass pipe industry due to the presence of a large chemical industry and public spending on water and waste management in countries such as China, India and Indonesia. The right-of-way region is predicted to be the fastest-growing regional industry for fiberglass pipe over the next five years. The main factors driving its expansion are the escalating call from the oil and gas and chemical industries. The Asia Pacific fiberglass pipe market is predicted to be a major contributor to revenue share in the worldwide fiberglass pipe industry, due to the presence of the chemical industry and high government spending on water and waste management in countries such as India, Indonesia, and China. The Asia-Pacific industry is predicted to experience the highest revenue expansion, owing to escalating calls from the oil and gas and chemical industries and the augmenting development of various end-user industrial sectors in the countries of this region.

The industry in Latin America and the Middle East and Africa is predicted to grow at a rapid pace during the outlook period due to the significant extraction of crude oil and its distribution throughout the world. North America and Europe are predicted to maintain their industry position due to escalated shale gas activity and oil and gas exploration. This is predicted to be a key factor in the expansion of the global fiberglass pipe industry.

Recent Developments 

• Hobas launches a new generation of GRP pipes. With a completely new product line, featuring a particularly durable inner protective layer, HOBAS now offers a first-class solution for calling products that require a product out of the ordinary.

• Future Pipe Industries Group acquires Specialty Plastics, Inc. Future Pipe Industries Group (FPIG), as part of the implementation of its worldwide expansion strategy, has acquired 100% of the fiberglass reinforced pipe business.

Fiberglass Pipes Market Key Players:

Firm like Future Pipe Industries (UAE), Balaji Fiber Reinforced Plastics Ltd. (India), Chemical Process Piping Pvt. Ltd. (India), Graphite India Limited (India), Hobas (Austria), Saudi Arabian Amiantit Co. (Saudi Arabia), National Oilwell Varco (U.S.), ZCL Composites Inc. (Canada), Abu Dhabi Pipe Factory (UAE), Enduro Composites Inc. (U.S.), and others are the dominating players in the worldwide fiberglass pipes industry.