Global Fiberglass Pipes Market - 2022-2029

Market Overview

The global fiberglass pipes market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

Fiberglass pipes are utilized in trenchless pipeline installation because they are lightweight, temperature resistant, robust and chemical and corrosion-resistant. Fiberglass pipes are made out of thermosetting polymers and fiberglass. Because they are minimal maintenance, these pipes are simple to install and rarely require repair. Fiberglass pipes are employed in trenchless technologies such as direct pipe and micro tunneling because the jacking pressure required to drive the pipe is greatly decreased due to its smooth exterior surface.

Fiberglass pipes are made using a winding method that uses continuous glass filaments to reinforce thermosetting epoxy resins. The resins cure in an irreversible chemical reaction, providing higher temperature resistance and mechanical strength. Steel sleeves were employed in micro tunneling for jacking, requiring tons of force. Fiberglass pipes are increasingly widely utilized due to the lower force required to hydraulically jack them, enabling longer lengths to be installed. Fiberglass pipes are also suitable for trenchless restoration techniques like slip lining. Fiberglass pipes are resistant to corrosion and chemicals, making them an excellent choice for pipes that transport such waste.

Market Dynamics

Rapid urbanization across the globe and associated industrial growth in industries such as oil and gas is a major market driver for the respective market. Nonetheless, fluctuations in raw material prices and a lack of standardized d joining systems restrain the market's growth.

Rapid urbanization and the growth and associated industrial growth

Fiberglass pipes are made using a winding method that uses continuous glass filaments to reinforce thermosetting epoxy resins. The resins cure in an irreversible chemical reaction, providing higher temperature resistance and mechanical strength, while the glass fibers provide superior mechanical strength. Steel sleeves were employed in micro tunneling for jacking, requiring tons of force. Fiberglass pipes are increasingly widely utilized due to the lower force required to hydraulically jack them, enabling longer lengths to be installed. Fiberglass pipes are also suitable for trenchless restoration techniques like slip lining. Fiberglass pipes are resistant to corrosion and chemicals, making them an excellent choice for pipes that transport such waste.

Due to the rising cost of metal pipes and tubes, rapid industrialization in all nations pushes the demand for lucrative and sustainable pipes. The demand for fuel, oil and gas to meet daily needs has increased as the population has grown. As a result, the construction and installation of pipelines to transport these materials have increased. Further, because of its exceptional performance under high-pressure circumstances, a large increase in demand for fiberglass pipes is expected in the future years. Low maintenance costs are a crucial factor in the growth of the fiberglass pipe market. The oil and gas industry's increased exploration and production activities and the growing demand for wastewater and water management solutions boost the market demand for the respective market. Furthermore, the increasing growth of emerging economies fuels strong demand in the fiberglass industry. The aforementioned factors are expected to drive the fiberglass pipe market during the forecasted term and are thereby considered a major market driver.

Fluctuations in raw material prices and a lack of standardized joining systems

For the manufacture of automobile and aircraft components, carbon fiber is a highly favored material. Fiberglass raw material providers are under pressure from various end-use industries, where pipes are commonly employed due to increased demand from the airplane and automotive industries. The widening demand-supply mismatch has resulted in a considerable increase in carbon fiber material trading prices around the world. The biggest reason to stymie global demand for fiberglass pipe is fluctuation in raw material prices, followed by a demand-supply mismatch. During the forecast period, the market for fiberglass pipes is expected to be hampered by changing carbon fiber raw material prices. Furthermore, the fiberglass pipe industry is restrained by its vulnerability to mechanical damage and the lack of pipe jointing system standards.

COVID-19 Impact Analysis

The COVID-19 pandemic affected the fiberglass pipes market primarily due to the implementation of lockdown measures to limit the spread of the virus and restrict the movement of products and people. The epidemic has disrupted supply networks, resulting in a significant demand-supply gap due to a lack of raw materials and disrupted manufacturing processes. The manufacturing sector has been severely impacted. As a result, the fiberglass pipe in many industries has fallen, thus impacting the market growth.

Due to the fast infrastructure construction in emerging economies, the Asia-Pacific fiberglass pipe market is likely to rise following the COVID-19 pandemic. For instance, The Indian government has devised a number of infrastructure plans for the next 25 years in order to aid the country's economic growth. In the future years, these infrastructure developments are expected to fuel the expansion of the global fiberglass pipe market.

Segment Analysis

The global fiberglass pipes market is classified based on type, fiber, application and region.

The essential properties of fiberglass pipes that compliments the needs of the chemical industry enhance its application in the respective sector

Fiberglass pipes are employed in the chemical industry because of their characteristics, such as hardness and brittleness, transparency, high-temperature resistance, corrosion resistance, huge transport flow and ease of installation. Increased need for chemicals, primarily in manufacturing, may stimulate the chemical industry's expansion, resulting in increased demand for fiberglass pipes.

In recent years, the chemical processing business has grown worldwide. The chemical processing sector in Asia-Pacific is the world's largest. China, India and Japan, among others, have seen their economies improve in recent years due to several chemical projects that have been finished or are slated to be completed soon. Furthermore, the chemical sector in U.S. has been seeing considerable growth due to improvements in major end-user industries and access to cheaper and more abundant feedstock and energy supplies. Because of the lucrative growth of the chemical industry in the country, it has drawn investment, resulting in notable chemical expansion and greenfield projects. As a result of the aforementioned considerations, the chemical industry's need for fiberglass pipes is likely to increase in the coming years.

Geographical Analysis

The presence of major manufacturers, cheap labor and paradigm shift in Asia-Pacific's energy sector

The Asia-Pacific dominates the fiberglass pipes market and is expected to develop the fastest during the projected period. China is the world's largest oil and gas importer. Coal accounts for the majority of the country's primary energy usage. However, due to air pollution and environmental concerns, the country is implementing measures to raise the amount of gas in the entire energy mix while decreasing the share of coal, which is likely to enhance the demand for fiberglass pipes for transportation in the coming years. China is a chemical processing powerhouse, producing a significant portion of the world's chemicals and more than a third of worldwide chemical sales.

Many of the market's leading players have set up chemical production units in China. India's chemical processing sector is diverse, producing almost 70,000 different products. The country is Asia's third-largest chemical producer by volume and seventh-largest by output. According to the India Brand Equity Foundation (IBEF), the country's chemical business is predicted to double in size by 2025, reaching approximately US$ 300 billion. As a result of the rapidly developing end-user industries, demand for fiberglass pipes is predicted to rise in the Asia-Pacific region throughout the forecast period.

Competitive Landscape

In terms of global and local producers' number and strength, the global fiberglass pipes market is highly dynamic. The market is described as fragmented due to the presence of numerous manufacturers such as PPG Industries, Future Pipe Industries, Chemical Process Piping Pvt.Ltd, Saudi Arabian Amiantit Co., NOV Inc, Russel Metals Inc, Amiblu Holding GmbH andRONACO INDUSTRIES, Enduro and Gruppo Sarplast. Significant market stakeholders employ market tactics like mergers, acquisitions, product launches, contributions and collaborations to gain competitive advantages and recognition in their respective markets.

Future Pipe Industries

Overview: Future pipe industries is dedicated to delivering water and energy to the world in the most efficient and environmentally friendly manner possible. The firm creates composite piping systems for use in the water, oil and gas, industrial and marine industries. System design and engineering services, project management, technical support, field supervision and training are among the services provided by the organization. Since its inception in 1984, the company has grown to include manufacturing units and sales offices in over 50 countries. Around 5000 employees work for the company.

Product Portfolio:

Flowstrong YellowBox: Future pipe industries created Flowstrong line pipe and fittings for medium to high-pressure oilfield and industrial applications that require exposure to corrosive or otherwise chemically aggressive fluids or gases. The material is designed to produce a structurally and chemically optimum product by winding high-strength continuous glass fibers and corrosion-resistant epoxy resin onto a steel mandrel. An epoxy thermoset resin was utilized for its manufacture, which was heat-cured with an aromatic amine-based hardener. The respective formulation produces the strongest, most thermally resistant and anticorrosive resin system for the production of fiberglass piping of any commercially available resin system.

Key Development:

Future Pipe Industries Group (FPIG) bought 100% of the fiberglass reinforced pipe company, Specialty Plastics, Inc., from ITT Exelis on November 14, 2019, as part of its global growth strategy. Specialty Plastics, Inc. is a prominent fiberglass pipes and systems provider for offshore platforms and marine vessels based in Louisiana, U.S. The acquisition represents a strategic addition to FPIG's composite pipe business, adding a significant new offering to the company's existing large product range and enhancing FPIG's global capabilities in the offshore rig and floating production and oil storage (FPSO) markets.

Why Purchase the Report?

To visualize the global fiberglass pipes market segmentation based on type, fiber, application and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global fiberglass pipes market by analyzing trends and co-development.

Excel data sheet with numerous data points of fiberglass pipes market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global fiberglass pipes market report would provide approximately 61 tables, 61 figures and almost 180 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies