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Fiberglass Pipes: A Leading Driver Behind Rising Exploration In Oil And Gas Sectors Fuels Growth In Fiberglass Pipes Market Market Expansion in 2025
Fiberglass Pipes
What Will the Fiberglass Pipes Industry Market Size Be by 2025?
The market size of fiberglass pipes has significantly increased in the recent past. The market value is projected to rise from $5.29 billion in 2024 to $5.57 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.4%. This increase during the historic period can be linked to escalating demand in the oil and gas industry, corrosion resistance, light weight and high strength, durability and longevity, chemical resistance, and low thermal conductivity.
What's the Long-Term Growth Forecast for the Fiberglass Pipes Market Size Through 2029?
The market size for fiberglass pipes is expected to witness significant growth in the coming few years. The growth is projected to reach $7.33 billion in 2029 with a compound annual growth rate (CAGR) of 7.1%. This anticipated growth over the forecast period can be linked to factors such as the amplification of water infrastructure investments, an increase in desalination projects, emphasis on sustainable construction, smart city developments, and emerging market adaptations. Key trends over the forecast period comprises technological advancements, improvements in resin technology, customization and particular applications, the use of filament winding technology, along with sustainability and environmental aspects.
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What Are the Key Growth Drivers Fueling the Fiberglass Pipes Market Expansion?
The growth of the fiberglass pipes market is anticipated to be driven by the escalating exploration activities in the oil and gas sectors. These activities involve various processes and methods used in identifying potential spots for drilling and extracting oil and gas. Oil companies in these sectors are dependent on water injection to sustain production, which consequently leads to an escalation in flow rates and injection pressures due to erosion and corrosion. Fiberglass pipes are utilized in these scenarios to offset the pressure as they don't corrode. Additionally, Future Pipe Industries (FPI) possesses expertise in using downhole pipes for injecting water, CO2, waste, and production lines, proving them to be excellent casings for oil, gas, water, and chemical wells. In November 2023, the International Energy Agency - an intergovernmental organization based in France - projected that the global demand for oil will rise by 1.5 million barrels per day in 2024, reaching nearly 102.4 million barrels per day, further bolstering exploration activities in the oil and gas sectors, contributing to the growth of the fiberglass pipes market.
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What Are the Key Trends Driving Fiberglass Pipes Market Growth?
Key strategic alliances are becoming an increasingly prominent trend within the fiberglass pipes sector. Predominant players in this market are turning their focus to these partnerships in order to bolster their market standing. For instance, in June 2022, Owens Corning from the US, with a strong focus on its Composites enterprise, established a partnership with Pultron Composites of New Zealand. Pultron Composites is dedicated to the development of top-tier fiberglass rebar and pipes production systems. This alliance boosts Owens Corning's potential market influence as it expands the capacity and services they can offer. Moreover, in May 2020, Energy Services Middle East, a leading Kuwaiti company offering fresh, innovative solutions to oil, gas and alternative energy firms in the Gulf and East & West Africa, entered a partnership with Subor Pipe Industry Trade (Subor Boru Sanayi Ve Ticaret A.S.). This undisclosed partnership is viewed by Energy Services as a strategic step towards a profitable future for both organizations. Based in Turkey, Subor Pipe Industry Trade specializes in the manufacture of Glass fiber Reinforced Polyester (GRP) Pipes.
How Is the Fiberglass Pipes Market Segmented?
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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Which Companies Are Leading the Charge in Fiberglass Pipes Market Innovation?
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.
Which Regions Are Leading the Global Fiberglass Pipes Market in Revenue?
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
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