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Global Fiberglass Pipes Market Analysis By Major Manufacturers and Competitive landscape 2024-2033
Fiberglass Pipes Market Report
As per the report, the fiberglass pipes market size has grown strongly in recent years. It will grow from $5 billion in 2023 to $5.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The fiberglass pipes market size is expected to see strong growth in the next few years. It will grow to $6.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Rising Exploration In Oil And Gas Sectors Fuels Growth In Fiberglass Pipes Market
The increasing exploration activities in the oil and gas sectors are expected to propel the growth of the fiberglass pipes market going forward. Exploring activities in the oil and gas sectors refers to the processes and methods involved in locating potential sites for oil and gas drilling and extraction. In the oil and gas sector, to keep up production, oil companies heavily rely on water injection which causes an increase in flow rates and injection pressures due to corrosion and erosion. In such situations, fiberglass pipes are used to balance the pressure because they are non-corrosive. Also, in addition to good casings for oil, gas, water, and chemical wells, FPI has experience with downhole pipes used for the injection of water, CO2, waste, and production lines. For instance, according to Zippia, Inc., a US-based provider of online recruitment services, in 2021, the oil drilling and gas extraction market in the United States is worth $463.8 billion. Also, in 2020, the gas and oil sector in the US generated $110.7 billion in revenue with 67,901 companies that extract gas and drill for oil employing 218 966 citizens and sustaining 10.3 million employments. Therefore, the increasing exploration activities in the oil and gas sectors are driving the growth of the fiberglass pipes market.
Strategic Partnerships Transforming The Fiberglass Pipes Market
Strategic partnerships are a key trend gaining popularity in the fiberglass pipes market. Major companies operating in the fiberglass pipes market are focused on the partnership to sustain their market position. For instance, in June 2022, Owens Corning, a US-based company focusing on its Composites business to offer higher-value material solutions partnered with Pultron Composites, a New Zealand-based company focused on developing a leading fiberglass rebar and pipes production system. With this partnership, Owens Corning's market potential is increased as more capacity and services are available in the market. Furthermore, in May 2020, Energy Services Middle East, a Kuwait-based company that delivers new innovative solutions to oil & gas and alternative energy companies in the gulf and East & West Africa partnered with Subor Pipe Industry Trade (Subor Boru Sanayi Ve Ticaret A.S.) for an undisclosed amount. With this partnership, Energy Services anticipates a fruitful future for both businesses. Subor Pipe Industry Trade is a Turkey-based company that manufactures of Glass fiber Reinforced Polyester (GRP) Pipes.
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
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Major companies operating in the fiberglass pipes market report are Graphite India Limited, 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., Pittsburgh Plate Glass Company, 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 Tank & Pipe Institute, 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., Future Pipe Industries LLC .
Contents of the report:
1. Executive Summary
2. Fiberglass Pipes Market Report Structure
3. Fiberglass Pipes Market Trends And Strategies
4. Fiberglass Pipes Market - Macro Economic Scenario
5. Fiberglass Pipes Market Size And Growth
…..
27. Fiberglass Pipes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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