The global fiberglass pipes market is expected to reach USD
6.19 billion by 2025, according to a new report by Grand View Research, Inc.
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.
U.S. fiberglass pipe market revenue by end-use, 2014 -
2025 (USD Million)
Browse full research report on Fiberglass Pipe Market: http://www.grandviewresearch.com/industry-analysis/fiberglass-pipe-market
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.
- Key players include National Oilwell
Varco, Inc., Graphite India Limited, Saudi Arabian AMIANTIT Company, PPG
Fiberglass Industries, HOBAS Pipes International GmbH, and Fibrex
Corporation dominated the global fiberglass pipes market
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-fiberglass-pipe-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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