What Is The Current and Historic Market Size Analysis Of The Fiberglass Pipes Market?
The fiberglass pipes market has seen considerable growth due to a variety of factors.
• Over the past years, there has been significant growth in the size of the fiberglass pipes market. The market is projected to expand from $5.29 billion in 2024 to $5.63 billion in 2025, attaining a compound annual growth rate (CAGR) of 6.5%. The impressive growth witnessed during the historical period is largely a result of increased demand in the oil and gas industry, in addition to the corrosion resistance, lightweight nature, durability, and chemical resistance of these pipes. The low thermal conductivity of these pipes also contributes to their growing popularity.
What are the Market Size and Expected Growth Rates for the Fiberglass Pipes Market?
The Fiberglass Pipes market is expected to maintain its strong growth trajectory in upcoming years.
• The market for fiberglass pipes is anticipated to witness substantial expansion over the next few years, with its size projected to reach $7.49 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%.
The factors contributing to this growth during the forecast period are investments in water infrastructure, an upsurge in desalination projects, focus on green construction, development of smart cities, and rising adoption in emerging markets. Key trends expected during this period encompass technological innovation, progress in resin technology, customizations and specialty applications, implementation of filament winding technology, along with sustainability and environmental considerations.
Which Key Drivers Are Propelling The Fiberglass Pipes Market's Growth?
The fiberglass pipes market is anticipated to witness substantial growth owing to the accelerating activities in the oil and gas exploration sectors. These sectors encompass various strategies and techniques for identifying potentially lucrative locations for the extraction and drilling of oil and gas. In order to sustain production levels, oil firms extensively depend on water injection, which triggers a surge in flow rates and injection pressures as a result of corrosion and erosion. Fiberglass pipes are employed in these circumstances to control the pressure due to their non-corrosive nature. Additionally, FPI has a wealth of experience with downhole pipes, which are optimal for oil, gas, water, and chemical wells and are used for the insertion of water, CO2, waste, and production lines. For instance, the International Energy Agency, an intergovernmental organization based in France, projected in November 2023 that the global oil demand is set to rise by 1.5 million barrels per day in 2024, totaling around 102.4 million barrels daily. Therefore, the growing exploration activities in the oil and gas sectors are bolstering the expansion of the fiberglass pipes market.
What Are The Key Segments Within The Global Fiberglass Pipes Market?
The fiberglass pipes market covered in this report is segmented –
1) By Type: Glass Reinforced Plastic, Glass Reinforced Epoxy, Other Types
2) By Fiber: T-Glass, E-Glass, Other Fibers
3) By End Use: Oil And Gas, Chemicals, Sewage, Irrigation, Other End Uses
Subsegments:
1) By Glass Reinforced Plastic (GRP): Standard GRP Pipes, Corrosion-Resistant GRP Pipes
2) By Glass Reinforced Epoxy (GRE): Standard GRE Pipes, High-Pressure GRE Pipes
3) By Other Types: Hybrid Reinforced Pipes, Specialty Fiberglass Pipes
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How Are New Trends Impacting The Size Of The Fiberglass Pipes Market?
One emerging trend gaining momentum in the fiberglass pipes market is the formation of strategic alliances. Market leaders are prioritizing partnerships to maintain their competitive edge. For example, in June 2022, Owens Corning, a US firm specializing in Composites aimed at providing high-value material solutions, formed a partnership with Pultron Composites, a New Zealand company that leads the way in creating a top-notch fiberglass rebar and pipe production system. This alliance bolsters the market potential of Owens Corning by expanding its capacity and services offering. Additionally, in May 2020, Energy Services Middle East, a Kuwaiti company providing innovative solutions to oil & gas and alternative energy firms across the Gulf and East & West Africa, partnered with Subor Pipe Industry Trade, without disclosing any financial details. Energy Services anticipates this partnership will lead to a prosperous future for both companies. Subor Pipe Industry Trade is a Turkey-based firm that produces Glass fiber Reinforced Polyester (GRP) Pipes.
Who Are the Key Players In The Fiberglass Pipes Market?
Major companies operating in the fiberglass pipes market include:
• NOV Inc.
• Saudi Arabian Amiantit Company
• HOBAS International GmbH
• Chemical Process Piping Pvt. Ltd.
• Fibrex Corporation
• Abu Dhabi Pipe Factory LLC
• Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
• Future Pipe Industries Inc.
• Sarplast SA
• ZCL Composites Inc.
• Hengrun Group Co. Ltd.
• Sekisui Chemical Co. Ltd.
• Balaji Fiber Reinforce Pvt. Ltd.
• Shawcor Ltd.
• Amiblu Holding GmbH
• EPP Composites Pvt. Ltd.
• Kuzeyboru AS
• Poly Plast Chemi Plants (I) Pvt. Ltd.
• Plasticon Germany GmbH
• Kurotec-KTS GmbH
• Enduro Composites Inc.
• Flowtite Technology AS
• Fiberglass Fabricators Inc.
• Fibrex FRP Piping Systems
• Fibro Plastichem India Pvt. Ltd.
• Fibrotech Industries
• Fibrox Plastichem India Pvt. Ltd.
• Fibsol GmbH
• Fibtech Composite Industries
• Fibtex Industries
• Fibxol Polymers Pvt. Ltd.
• Filament Windings Inc.
• Flowtite South Africa
• Fibre Reinforced Plastic Manufacturing Inc.
What Are The Regional Insights Into The Fiberglass Pipes Market?
Asia-Pacific was the largest region in the fiberglass pipes Market in 2024. The regions covered in the fiberglass pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
