Market Analysis
The Global Fiberglass Pipes Industry will touch USD 20.32 billion at a 9.2% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. Fiberglass pipes, simply put, are composite products that are developed from glass fiber reinforcements that are enclosed via thermosetting resin. These types in comparison to traditional pipes, possess high durability, superior strength, high tensile strength, virtually inert, and low density, and superior mechanical properties.
Various factors are propelling the global fiberglass pipes market growth. According to the recent MRFR report, such factors include extensive usage of fiberglass in the infrastructure and construction industry, increased use of fiberglass composites in the automotive industry, low maintenance costs in comparison to traditional pipes, increased exploration and production activities in the oil and gas industry, increasing demand in the water management and sewage applications, and the rapid development of emerging economies.
On the contrary, the availability of substitutes like carbon fiber and aluminium, fluctuations in raw material costs, challenges in the production process, cost-intensive nature of new technologies, and the current COVID-19 impact are factors that may limit the global fiberglass pipes market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global fiberglass pipes market based on types, application, and end users.
By types, the global fiberglass pipes market is segmented into S-glass, E-glass, R-glass, D-glass, A-glass, C-glass, and others. The others segment is again segmented into AR-glass and ECR-glass. Of these, E-glass segment will lead the market over the forecast period.
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By application, the global fiberglass pipes market is segmented into composites and insulation. Of these, the composites segment will dominate the market over the forecast period.
By end user, the global fiberglass pipes market is segmented into industrial, electrical, pharmaceutical, construction, aerospace, automotive, and others. The others segment is again segmented into wind energy and petrochemicals. Of these, the construction segment will spearhead the market over the forecast period.
Regional Analysis
By region, the fiberglass pipes market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. The constant rise in infrastructural projects in India and China, increased focus to build industrial and chemical applications, waste-water applications, and urban structures, high demand for fiberglass pipes, decreased labor cost, increasing focus on emission control policies, growing need for eco-friendly products, technological advances in composites, and replacement of aluminium and steel with fiberglass are adding to the global fiberglass pipes market growth in the region.
In North America, the global fiberglass pipes market is predicted to have healthy growth over the forecast period. Increasing oil and gas exploration and shale gas activities is adding to the global fiberglass pipes market growth in the region.
In Europe, the global fiberglass pipes market is predicted to have sound growth over the forecast period. Demand for high strength materials like fiberglass by premium car manufacturers, increasing application in the automotive sector, and growing usage of fiberglass in the construction industry are adding to the global fiberglass pipes market growth in the region.
In the LAMEA, the global fiberglass pipes market is predicted to have steady growth over the forecast period.
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Company Overview
Key contenders profiled in the Global Fiberglass Pipes Industry report include Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd (China), Chemical Process Piping Pvt. Ltd. (India), Future Pipe Industries (UAE), Hengrun Group Co., Ltd. (China), National Oilwell Varco (US), Saudi Arabian Amiantit Co. (Saudi Arabia), HOBAS (Austria), Graphite India Limited (India), Abu Dhabi Pipe Factory (UAE), and Sarplast SA (Switzerland).
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