Fiberglass Pipe Market - Expected to Reach $6.1 Billion by 2025
DUBLIN, Dec. 28, 2017 /PRNewswire/ --
The "Fiberglass Pipe Market Analysis, by End-use (Oil & Gas, Chemicals, Sewage, Irrigation), by Region (North America, Europe, Asia Pacific, Central & South America, MEA) and Segment Forecasts, 2014 - 2025" report has been added to Research and Markets' offering.
The global fiberglass pipes market is expected to reach USD 6.19 billion by 2025. The market is expected to witness a CAGR of 5.6% over the forecast period, owing to Increasing demand from various end-use industries is key factor driving the growth of fiberglass pipes market. In addition, robust growth in shipping industry in Asia Pacific is further fueling the demand over the forecast period.
Fiberglass pipes are composite materials which have combined properties of two or more materials such as glass fibers and resins, that are used in various end-use industries such as chemicals and irrigation. Fiberglass pipes market is mainly driven by the demand from the oil & gas, chemicals and irrigation, as they are exposed to various intricate environment during transportation of natural gas and in water supply.
In terms of revenue, GRE pipe, an epoxy resin reinforced composite pipe, accounted as the largest product type in 2016 and is anticipated to continue its trends with a growth rate of 5.3% over the forecast period. Increasing need for pipes that are low in weight and possess superior properties are the key factors anticipated to propel the market growth.
The demand for fiberglass pipes is expected to surge owing to the development of new ports in the Asia Pacific region. Different types of resins, glass fibers are used in the manufacturing process for various applications in end use to provide various properties like resistance to abrasion, fire retardant, corrosion resistance, and light weight. Various types of pipes such as GRE, GRP, GRVE pipes are available to cater to the various requirement of the application industry.
Further key findings from the report suggest:
- GRP pipe segment is projected to experience the fastest growth in terms of value at a CAGR of 6.2% from 2017 to 2025 on account of its various characteristics such as excellent degree of swelling, non-embrittlement, and water resistance. Furthermore, growing infrastructural development activities in emerging economies are expected to augment the growth over the forecast period.
- Oil & gas industry emerged as the largest end-use segment in terms of revenue in 2016 and is estimated to reach USD 2.41 billion by 2025. GRE pipes revenue in Asia Pacific region is anticipated to experience steady growth over the forecast period, to reach USD 1.44 billion by 2025
- The U.S. fiberglass pipes market in terms of revenue was valued USD 562.9 million in 2016 and is estimated to reach USD 816.6 million by 2025. The industry in Asia Pacific is projected to witness substantial growth over the next eight years owing to robust growth in various end-use industries, especially in the irrigation and oil & gas industries. In terms of revenue, the regional market is expected to grow at a CAGR of 6.8% from 2017 to 2025.
Companies Mentioned
- Kemrock Industries and Exports Limited
- Apex Western Fiberglass, Inc.
- HOBAS Pipes International GmbH
- Andronaco Industries
- Future Pipe Industries
- Sarplast SA
- Fibrex Construction Group
- FCX Performance
- PPG Industries, Inc.
- Hengrun Group Co., Ltd.
- Enduro Composites, Inc.
- Saudi Arabian Amiantit Company
- ZCL Composites, Inc.
- Graphite India Limited
- National Oilwell Varco, Inc.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
Chapter 4 Fiberglass Pipes Market: Product Estimates & Trend Analysis
Chapter 5 Fiberglass Pipes Market: Fiber Estimates & Trend Analysis
Chapter 6 Fiberglass Pipes Market: End-use Estimates & Trend Analysis
Chapter 7 Fiberglass Pipes Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/7tx2g5/fiberglass_pipe
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