Albany NY, United States, May 02, 2022 (GLOBE NEWSWIRE) -- The global glass reinforced epoxy (GRE) pipe market was valued over US$ 1.7 Bn in 2020. The global market is projected to rise at a CAGR of 4.8% during the forecast period, from 2021 to 2031. The global glass reinforced epoxy (GRE) pipe market is predicted to surpass the valuation of US$ 2.9 Bn by 2031. In the forthcoming years, the global glass reinforced epoxy (GRE) pipes market is projected to be driven by rising applications of GRE pipes in different end-use industries such as marine & offshore, oil & gas, water/wastewater, industrial applications, etc. Rise in use of GRE pipes in the chemical industry is anticipated to stimulate the growth of the global glass reinforced epoxy (GRE) pipes market.
The lucrative existence of participants in the global glass reinforced epoxy (GRE) pipe market is likely to generate considerable revenues. The demand is being fueled by growing usage of glass reinforced epoxy (GRE) as a carbon steel substitute in industrial pipes. Besides, GRE pipes are in high demand due to its superior features, which include lightweight, high mechanical properties, resistance to corrosion, low thermal conductivity, and chemical resistance.
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In 2020, the global glass reinforced epoxy (GRE) pipe market was led by Asia Pacific in terms of revenue. The regional demand for glass reinforced epoxy (GRE) pipe is expected to grow due to increase in disposable income of consumers, scientific & technological breakthroughs, and expansion of the middle class population. Besides, increase in investments by product manufacturers and expansion of processing facilities can be attributed to the development of the glass reinforced epoxy (GRE) pipe market in North America.
Key Findings of Market Report
- Due to its excellent lightweight and mechanical features, durability, and strength, glass reinforced epoxy (GRE) pipes are becoming more popular across various industries. GRE pipes can be utilized in the distribution of drinking water, gases, wastewater, and fumes, since they have better mechanical qualities than cement pipes. Due to its high resistance to corrosion, these pipes are utilized to substitute cast iron pipes.
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- GRE pipes are also considered a possible replacement for cast iron pipes, given its high corrosion resistance. GRE pipes contain anti-mite and antifouling qualities, and therefore, the resin surface is smooth and clean, and microorganisms do not contaminate it. Frost and heat resistance is an additional strong feature of GRE pipes. This allows pipes to tolerate a wide range of temperatures, which is expected to influence the global glass reinforced epoxy (GRE) pipe market in the near future.
- Compared to high polyethylene pipes, GRE pipes offer superior operating as well as design temperatures. Even at very high temperatures, GRE pipes are not stressed. These pipes are able to withstand higher pressures than HDPE pipes. Besides, their setup procedure is likewise fairly simple. HDPE pipes come only in sizes up to 600 mm. GRE pipes can, thus, be utilized over 600 mm. GRE pipes have a substantially longer lifespan than HDPE pipes, which is likely to favor the growth of the global glass reinforced epoxy (GRE) pipe market.
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Global Glass Reinforced Epoxy (GRE) Pipes Market: Growth Drivers
- The oil & gas industry is likely to observe an increase in demand for GRE pipes, which have anti-corrosive qualities. They are employed as a substitute for high-grade corrosion-resistant alloys (CRA) in high-velocity gas wells to increase tube life.
- No protective technique, such as cathodic protection, is required for GRE pipelines. Their hydraulic properties largely stay the same over time. As a result, demand for GRP pipe in wastewater treatment applications is estimated to increase significantly in the near future.
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Global Glass Reinforced Epoxy (GRE) Pipes Market: Key Competitors
- HLB Co. Ltd.
- Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd
- Amiantit Fiberglass Industries Limited
- Megha Engineering & Infrastructures Limited
- Future Pipe Industries
- EPP Composites Pvt. Ltd.
Global Glass Reinforced Epoxy (GRE) Pipes Market: Segmentation
Process
- Filament Winding
- Centrifugal Casting
- Others (Pultrusion and Hand lay-up)
Application
- Oil & Gas
- Industrial
- Water/Wastewater
- Marine & Offshore
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