Rockville , Aug. 30, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global fiberglass pipes market is predicted to expand at a CAGR of 4.4% to reach a valuation of US$ 7.2 billion by the end of 2033. Fiberglass pipes are preferable to ordinary pipes since they are stronger, more durable, and chemically inert. Glass fiber, fillers, and polyester resin are used to make fiberglass, a particular type of fiber-reinforced plastic.
Highly corrosive substances such as acids and other liquids are transported using this pipe system. These pipes are widely utilized in a variety of end-user industries, including oil and gas, chemicals, agriculture, and others, because of their exceptional qualities and high strength-to-weight ratio. Rapid industrialization has pushed the demand for lightweight and robust pipelines in various end-user industries. The necessity for fuel distribution and rising oil and gas production both significantly contribute to the rise in demand for fiberglass pipes in the oil and gas industry.
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Fiberglass pipes are being used in chemical industries to carry waste and caustic chemicals. Moreover, a majority of construction firms employ lightweight pipes to lower the overall cost of installation and shipping. This is yet another element influencing market expansion. However, high raw material cost has been restricting the demand growth for fiberglass pipes to some extent.
Key Segments of Fiberglass Pipes Industry Research Report
| By Type | By Process | By End Use | By Region |
| Glass-Fiber-reinforced Plastic (GRP) Pipes | Centrifugal Casting | Oil & Gas | North America |
| Glass-Reinforced Epoxy (GRE) Pipes | Filament Winding | Chemicals | Latin America |
| Pultrusion | Agriculture | Europe | |
| Sewage | Asia Pacific |
Key Takeaways from Market Study
- The global market for fiberglass pipes is valued at US$ 4.7 billion in 2023.
- Worldwide demand for fiberglass pipes is predicted to increase at a CAGR of 4.4% through 2033.
- By the end of 2033, the global market is anticipated to reach US$ 7.2 billion.
- Over the forecast period (*2023 to 2033), the market in China is projected to expand at a CAGR of 5.2%.
- Under type, use of glass-reinforced epoxy (GRE) pipes is forecasted to rise at a CAGR of 3.8% through 2033.
- The market in the United States is predicted to expand at a CAGR of 4.5% from 2023 to 2033.
- Sales of fiberglass pipes in the oil & gas sector are projected to increase at a CAGR of 9.2% through 2033.
“Fiberglass pipes are known for their high tensile strength and resilience, allowing them to withstand high pressures and extreme conditions without compromising on structural integrity. These pipes are designed to offer superior durability, corrosion resistance, and versatility compared to conventional pipes, making them a preferred choice across industrial sectors,” says a Fact.MR analyst.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 7.2 Billion |
| Growth Rate (2023-2033) | 4.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Companies Profiled in This Report
- Fibrex Corporation
- Amiblu Holding GmbH
- Graphite India Limited
- Future Pipe Industries
- Chemical Process Piping Pvt. Ltd. (CPP)
- Saudi Arabian AMIANTIT Company
- National Oilwell Varco, Inc.
- HOBAS International GmbH
- PPG Fiberglass Industries
Market Competition
Market players recognize the importance of continuous innovation and improvement in maintaining their competitive edge. By allocating resources to research and development initiatives, companies aim to enhance their products, processes, and technologies. These investments not only lead to the creation of novel solutions but also contribute to the evolution and refinement of existing offerings.
Ultimately, this focus on R&D enables companies to deliver cutting-edge products that cater to evolving customer needs and industry trends.
- In April 2019, Shawcor Ltd. announced the fulfillment of the previously stated arrangement strategy that encompassed ZCL Composites Inc., Shawcor, and individuals possessing common shares or options for common shares of ZCL (referred to collectively as "Shareholders" and "Optionholders," and individually as "Security holders"). This arrangement was carried out in accordance with section 192 of the Canada Business Corporations Act.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global fiberglass pipes market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (glass fiber reinforced plastic [GRP] pipes, glass reinforced epoxy [GRE] pipes), process (centrifugal casting, filament winding, pultrusion), and end use (oil & gas, chemicals, agriculture, sewage), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
Reinforced Thermoplastic Pipes Market: The global reinforced thermoplastic pipe (RTP) market size is set to reach US$ 282.4 million in 2022 and is projected to grow at a CAGR of 4.7% to reach US$ 457.3 million by the end of 2032.
Ductile Iron Pipes Market: The global ductile iron pipes market size is estimated to hold a valuation of US$ 7.9 billion in 2022 and is projected to grow at a CAGR of 5.7% to reach a valuation of US$ 13.8 billion by 2032.
HDPE Pipes Market: The market value was USD 17 billion in 2022. Furthermore, this market is estimated to cross the valuation of USD 30.44 billion by end of 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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