Fiberglass Pipes Market:
WiseGuyReports.com adds “Global Fiberglass Pipes Market Research Report 2021 Analysis and Forecast 2027” reports to its database.
Global Fiberglass Pipes Market is valued approximately USD 3.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.22 % over the forecast period 2020-2027. Fiberglass pipes are the composite materials having combining properties of two or more materials such as glass fibers and resins. These pipes have characteristic properties such as high strength and durability and steady performances in extreme temperatures. Fiberglass pipes are composite items that are bound with thermosetting resin made from glass fibre reinforcements. Fiberglass pipes typically have superior strength, tensile strength, practically inert, low density , and high longevity as opposed to traditional pipes. Fiberglass pipes provide better mechanical properties as well, resulting in an improved shelf life of the component. In the pharmaceutical, irrigation, and oil & gas industries, fibreglass pipes are primarily used, as they are exposed to various dynamic environments during the transport of natural gas and water supply.The market is driven by Increased oil & gas development and exploration, increasing demand for fiberglass pipes in sewage and water management. For instance, According to the National Association of Corrosion Engineers (NACE International), the direct cost of corrosion was estimated at about US$ 67 billion worldwide in 2014, including in the chemical industry. Therefore, without disrupting current activities, most businesses are likely to take the replacement option for aged pipe lines. The key players of global Fiberglass pipes market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In January 2018, Advanced Industrial Technologies announced an agreement to acquire FCX Results, Inc., a distributor of engineered valves, instruments, pumps and lifecycle services. The acquisition will assist businesses to improve their position as leading industrial distributors. However, Limitation on the use of fiberglass pipes for the transport of hydrocarbons The regulatory authorization requirement hinders the growth of the market.
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The regional analysis of global Fiberglass Pipes Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of increasing demand for fiberglass pipes in sewage and water management. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Increased oil & gas development and exploration would create lucrative growth prospects for the Fiberglass Pipes Market across Asia-Pacific region.
Major market player included in this report are:
Abu Dhabi Pipe Factory
Balaji Fiber Reinforced Pvt. Ltd.
Chemical Process Piping Pvt. Ltd.
Future Pipe Industries
Graphite India Limited
Hengrun Group Co., Ltd.
Enduro Composites, Inc.
Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd.
National Oilwell Varco
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Oil & Gas
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Fiberglass Pipes Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers