Fiberglass Pipe Market Report & Analysis | 2018-2024
Date: 2018-12-13   Author: Rahul Varpe  Category: #market

Fiberglass Pipe Market Report & Analysis | 2018-2024

Asia Pacific driven by Japan, India, South Korea and China fiberglass pipe market size may witness surge in demand over the forecast timeframe. Increasing energy demand in India, Japan, and China along with rising preference for natural gas for coal replacement is likely to enhance regional growth. Transportation of natural gas through pipeline is more cost efficient and economical as compared to transportation of gas through LNG vessels.  Strong infrastructure spending for these businesses along with replacement for concrete and conventional steel pipes will stimulate industry growth demand in the region.

Europe fiberglass pipe market size, led by UK, France, Italy and Germany will witness an uptrend over the forecast timeframe. Increasing dependency on Russia for natural gas imports may propel product demand. Companies are setting up oil drilling activities which is likely to have a positive influence on regional industry growth.

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Fiberglass Pipe Market size is likely to witness significant gains due to increasing usage of lightweight, high corrosion resistance, fire retardant and high stiffness tubes. Increasing oil & gas production and rising demand for water & sewage management applications would promulgate the industry growth in forecast timeframe.

Key ingredients used for manufacturing fiberglass incudes limestone, soda ash, and silica sand. Global fiberglass market size was over USD 13 billion in 2016 and may exceed USD 20 billion by 2024, with gains at over 6%. Fiberglass pipe offers a wide range of advantages, which includes corrosion resistances, low maintenance costs, easy installations and flexibility in producing complex shapes. Traditional products such as PVC, concrete and steel channel are unable to meet the changing consumer needs. Thus, the significant features of the product would propel the industry growth.

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Fiberglass pipe market size from sewage applications may witness significant gains over the forecast timeframe. They are majorly used in sewage management due to its corrosion resistance, light weight, cost effectivity and durability. It offers less frictional losses and provide good hydraulic efficiency. Thus, it is suitable for ground & underground sewage applications. Global sewage treatment plants market is projected to grow at over 9.3% up to 2024. In sewage treatment process, fiberglass pipe is utilized in water & wastewater treatment plants, metallurgy sewage facilities, and industrial effluents treatment plants. Favorable government initiatives towards improving sanitary conditions which should be manufactured in accordance with ASTM D3262, may further stimulate industry growth.

Positive application scope in oil & gas industry may witness significant gains due to increasing production and exploration of oil & gas in both onshore and offshore. Global onshore oil & gas pipeline market may witness significant gains at over 6.5% over the forecast timeframe. Fiberglass pipe are utilized in this sector for crude oil, refined products and natural gas transportation. Rising number of shale gas extraction projects may contribute towards various drilling businesses. Government is taking various measures for smooth transportation which has led manufactures to adopt advanced technology such as Internet of Things (IoT). This technology has led the onshore and offshore end-users to capitalize on smart technology benefits in the piping system.

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Global fiberglass pipe market share is moderately consolidated. Major players operating in the industry include Graphite India Limited, National Oilwell Varco, Saudi Arabian AMIANTIT Company, HOBAS International GmbH, PPG Industries, and Fibrex Corporation. Favorable trend towards forming new SBUs is likely to have a positive impact in the fiberglass pipe market demand.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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