Press release
Strong Growth Ahead: Glass Reinforced Plastics (GRP) Pipes Market Size To Grow At Arecord 7% Cagr By 2029
Glass Reinforced Plastics (GRP) Pipes
How Big Is the Glass Reinforced Plastics (GRP) Pipes Market Size Expected to Be by 2034?
Over the past few years, there has been a substantial growth in the market size of glass reinforced plastics (GRP) pipes. It is anticipated that the market, currently valued at $5.48 billion in 2024, will increase to $5.86 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. This historical growth has been influenced by factors such as increased market knowledge and acceptance, regulatory standards, demand from the oil and gas industry, infrastructure development, and applications in water and wastewater management.
Predictions indicate a robust expansion in the glass reinforced plastics (GRP) pipes market in the upcoming years, with its value set to reach $7.68 billion by 2029 at a compound annual growth rate (CAGR) of 7.0%. This projected growth during the forecast period is linked to factors such as advancement in healthcare infrastructure, market proliferation in emerging regions, development in renewable energy infrastructure, and urbanization requirements. Key trends expected to be witnessed within this period encompass corrosion resistance, the adoption of sustainable and eco-friendly solutions, advancements in manufacturing procedures, the integration of smart infrastructure, and material development innovation.
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What Are the Emerging Segments Within the Glass Reinforced Plastics (GRP) Pipes Market?
The glass reinforced plastics (GRP) pipes market covered in this report is segmented -
1) By Resin: Epoxy, Polyester, Vinyl Ester, Other Resins
2) By Application: Water Treatment, Sewage Piping, Oil And Gas Pipes, Chemical Processing, Pumping Systems, Marine And Offshore, Other Applications.
3) By End-Use Industry: Chemical Industry, Oil And Gas Industry, Construction Industry, Waste Water, Other End-Users
Subsegments:
1) By Epoxy: Standard Epoxy Resins, Modified Epoxy Resins
2) By Polyester: Unsaturated Polyester Resins, Orthophthalic Polyester Resins, Isophthalic Polyester Resins
3) By Vinyl Ester: Bisphenol A Vinyl Ester, Novolac Vinyl Ester
4) By Other Resins: Phenolic Resins, Thermoplastic Resins, Other Specialty Resins
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What Long-Term Drivers Are Shaping Glass Reinforced Plastics (GRP) Pipes Market Trends?
The glass-reinforced plastic pipes market is poised for growth, spurred by the escalating demand for oil and natural gas. These energy resources, originating from fossil fuels formed via the subterranean decomposition of archaic organisms over scores to millions of years, utilize glass-reinforced plastic pipes for the transportation of natural gas and crude oil from wellheads to refineries. For instance, the India Brand Equity Foundation (IBEF), a government export promotion agency in India, predicts a twofold increase in the country's oil demand, anticipated to hit 11 million barrels per day by 2045. Consequently, this growing need for oil and natural gas fuels the expansion of the glass-reinforced plastic pipe market.
Who Are the Top Competitors in Key Glass Reinforced Plastics (GRP) Pipes Market Segments?
Major companies operating in the glass reinforced plastics (GRP) pipes market are Amiblu Holding GmbH, Composite Pipes Industry, Enduro Composites Inc., Fibrex Corporation, Future Pipe Industries, Advanced Composites Inc., Reliance Industries Ltd., Nippon Electric Glass Co. Ltd., Mitsubishi Chemical Corporation, Aegion Corporation, Toray Industries Inc., Asahi Fibreglass Company, Jushi Group Co. Ltd., Taishan Fiberglass Inc., AGY Holding Corp, China Beihai Fiberglass Co. Ltd., Chongqing Polycomp International Corp., Fiber-Tech Industries Inc., Fiberglass Coatings Inc., Fibrelite Composite Structures Ltd., Glasforms Inc., Glasteel Inc., Hanwha Advanced Materials Corporation, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
What Glass Reinforced Plastics (GRP) Pipes Market Trends Are Gaining Traction Across Different Segments?
Top firms in the glass-reinforced plastic pipes sector are looking to develop strategic partnerships to enhance their product range and streamline supply chain processes. Overall, these partnerships are cooperative agreements between multiple companies aimed at accomplishing specific goals whilst maintaining their organizational independence. The primary motive of these collaborations is to broaden the accessibility of biogas technology and increase the effectiveness of the construction and running of biogas plants. A noteworthy example of this is when U.S. based Antec, Inc. collaborated with AMIBLU Holding GmbH, an Austrian company, in November 2023. By partnering with Amiblu, a supplier of glass-reinforced plastic (GRP) pipes, Antec can benefit from a more streamlined supply chain. This advantage is essential for manufacturing digesters more quickly and cost-effectively, significantly diminishing the time and resources required for building plants.
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Which Regions Are Becoming Hubs for Glass Reinforced Plastics (GRP) Pipes Market Innovation?
Asia-Pacific was the largest region in the glass reinforced plastics market in 2024. The regions covered in the glass reinforced plastics (grp) pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Glass Reinforced Plastics (GRP) Pipes Market?
2. What is the CAGR expected in the Glass Reinforced Plastics (GRP) Pipes Market?
3. What Are the Key Innovations Transforming the Glass Reinforced Plastics (GRP) Pipes Industry?
4. Which Region Is Leading the Glass Reinforced Plastics (GRP) Pipes Market?
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