The global fiberglass pipes market is projected to reach USD 4.11 Billion by 2021, at a CAGR of 5.22% from 2016 to 2021. Superior mechanical properties leading to a long product life with low maintenance costs and the increasing demand for fiberglass pipes in sewage and water management applications are the key factors responsible for the growth of the fiberglass pipes market.
The fiberglass pipes market, by type, is further segmented into GRP and GRE. The GRE pipes segment accounts for the major market share owing to their high strength, high resistance to corrosion, and ease of installation. Due to these properties, GRE pipes are used in applications including oil & gas, chemicals, and sewage.
The major applications of the fiberglass pipes market include oil & gas, chemicals, sewage, and irrigation. The chemicals application is the fastest-growing application segment in the fiberglass pipes market. Fiberglass pipes offer various features including light weight, dimensional stability, resistance to corrosion, and ease of installation in comparison to traditional materials such as concrete and metallic pipes, due to which the usage of fiberglass pipes in the chemicals, oil & gas, and sewage applications is growing at a high rate.
Asia-Pacific holds the largest share of the fiberglass pipes market owing to the presence of large chemical industry and government spending on water & waste management in countries such as China, India, and Indonesia. The RoW region is expected to be the fastest-growing regional market for fiberglass pipes during the next five years. The main factors that are leading to its growth are the increasing demand from the oil & gas and chemicals industries. The properties exhibited by fiberglass pipes enhance the flow characteristics, thus leading to low maintenance and long product span.
The global fiberglass pipes market is growing rapidly, in terms of value. However, the high raw material cost is a major restraint for the growth of the global fiberglass pipes market.
Abu Dhabi Pipe Factory
Balaji Fiber Reinforced Pvt. Ltd.
Chemical Process Piping Pvt. Ltd.
Enduro Composites, Inc.
Future Pipe Industries
Graphite India Limited
Hengrun Group Co., Ltd.
Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd.