Press release
Rising Exploration In Oil And Gas Sectors Fuels Growth In Fiberglass Pipes Market: An Emerging Driver Transforming The Fiberglass Pipes Market Landscape
Fiberglass Pipes
What Is the Fiberglass Pipes Market Size and Projected Growth Rate?
The market size of fiberglass pipes has experienced significant expansion in the past few years. It's predicted to increase from $5.29 billion in 2024 to $5.63 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. The ascension witnessed in the historic phase is attributable to the escalating demand in the oil and gas sector, its resistance to corrosion, reduced weight yet amplified strength, durability and longevity, resistance to chemicals, and minimal thermal conductivity.
The market for fiberglass pipes is projected to experience robust growth in the coming years, with its valuation expected to reach $7.49 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.4%. This predicted growth over this forecast period can be linked to investments in water infrastructure, an increase in desalination projects, emphasis on eco-friendly construction, smart city development, and adoption in emerging markets. Key emerging trends during this forecast period are technological breakthroughs, advancements in resin technology, customization and specific applications, application of filament winding technology, as well as considerations towards sustainability and environment.
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What Are the Different Fiberglass Pipes Market Segments?
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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What Are the Primary Drivers Shaping the Fiberglass Pipes Market?
The escalation of exploratory operations in the oil and gas industries is anticipated to drive the expansion of the fiberglass pipes market. These exploratory activities in the oil and gas industries enable the identification of potential locations for oil and gas drilling and extraction. Oil companies heavily depend on water injection in order to maintain their output in the oil and gas sector. This often leads to the amplification of flow rates and injection pressures because of corrosion and erosion. Fiberglass pipes are utilized in these scenarios to regulate the pressure as they are not susceptible to corrosion. Additionally, FPI leverages their experience with downhole pipes used for water, CO2, waste, and production lines to produce proficient casings for oil, gas, water, and chemical wells. For example, the International Energy Agency, an intergovernmental organization based in France, predicted in November 2023 that the worldwide oil demand will escalate by 1.5 million barrels per day in 2024, reaching roughly 102.4 million barrels per day. As such, the burgeoning exploratory activities in the oil and gas industries are championing the growth of the fiberglass pipes market.
Which Companies Are Leading 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 Major Trends Shaping the Fiberglass Pipes Market?
Strategic alliances are an emerging trend that is increasingly gaining traction in the fiberglass pipes sector. Prominent businesses in this market are focusing on these partnerships to strengthen their market standing. For example, in June 2022, American company Owens Corning joined forces with New Zealand's Pultron Composites, a company dedicated to the advancement of top-quality fiberglass rebar and pipe production systems. This collaboration has expanded Owens Corning's market potential, providing more capacity and resources to the market. Additionally, in May 2020, Energy Services Middle East, a Kuwait-based firm that provides innovative solutions to oil & gas and alternative energy companies within the gulf and East & West Africa, entered into a partnership with Subor Pipe Industry Trade (Subor Boru Sanayi Ve Ticaret A.S.) for an unrevealed amount. The collaboration is expected to result in a prosperous future for both companies. Subor Pipe Industry Trade, a Turkey-based corporation, specialises in the production of Glass fiber Reinforced Polyester (GRP) Pipes.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Fiberglass Pipes Market?
2. What is the CAGR expected in the Fiberglass Pipes Market?
3. What Are the Key Innovations Transforming the Fiberglass Pipes Industry?
4. Which Region Is Leading the Fiberglass Pipes Market?
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