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What Is the Current Market Size and Growth Rate of the Fiberglass Pipes Market?
The fiberglass pipes market size has grown strongly in recent years. It will grow from $5.29 billion in 2024 to $5.57 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growing demand in oil and gas industry, corrosion resistance, lightweight and high strength, durability and longevity, chemical resistance, low thermal conductivity.
The fiberglass pipes market size is expected to see strong growth in the next few years. It will grow to $7.33 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to water infrastructure investment, growth in desalination projects, focus on sustainable construction, development of smart cities, emerging markets adoption. Major trends in the forecast period include technological innovations, advancements in resin technology, customization and specialty applications, adoption of filament winding technology, sustainability and environmental considerations.
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What Are the Key Drivers of the Fiberglass Pipes Market?
The increasing exploration activities in the oil and gas sectors are expected to propel the growth of the fiberglass pipes market going forward. Exploring activities in the oil and gas sectors refers to the processes and methods involved in locating potential sites for oil and gas drilling and extraction. In the oil and gas sector, to keep up production, oil companies heavily rely on water injection which causes an increase in flow rates and injection pressures due to corrosion and erosion. In such situations, fiberglass pipes are used to balance the pressure because they are non-corrosive. Also, in addition to good casings for oil, gas, water, and chemical wells, FPI has experience with downhole pipes used for the injection of water, CO2, waste, and production lines. For instance, in November 2023, according to the International Energy Agency, a France-based intergovernmental organisation, the global oil demand will increase by 1.5 million barrels per day in 2024, reaching approximately 102.4 million barrels per day. Therefore, the increasing exploration activities in the oil and gas sectors are driving the growth of the fiberglass pipes market.
How Is the Fiberglass Pipes Market Segmented?
The fiberglass pipes market covered in this report is segmented –
1) By Type: Glass Reinforced Plastic, Glass Reinforced Epoxy, Other Types
2) By Fiber: T-Glass, E-Glass, Other Fibers
3) By End Use: Oil And Gas, Chemicals, Sewage, Irrigation, Other End Uses
Subsegments:
1) By Glass Reinforced Plastic (GRP): Standard GRP Pipes, Corrosion-Resistant GRP Pipes
2) By Glass Reinforced Epoxy (GRE): Standard GRE Pipes, High-Pressure GRE Pipes
3) By Other Types: Hybrid Reinforced Pipes, Specialty Fiberglass Pipes
What Are the Key Trends Shaping the Fiberglass Pipes Market?
Strategic partnerships are a key trend gaining popularity in the fiberglass pipes market. Major companies operating in the fiberglass pipes market are focused on the partnership to sustain their market position. For instance, in June 2022, Owens Corning, a US-based company focusing on its Composites business to offer higher-value material solutions partnered with Pultron Composites, a New Zealand-based company focused on developing a leading fiberglass rebar and pipes production system. With this partnership, Owens Corning's market potential is increased as more capacity and services are available in the market. Furthermore, in May 2020, Energy Services Middle East, a Kuwait-based company that delivers new innovative solutions to oil & gas and alternative energy companies in the gulf and East & West Africa partnered with Subor Pipe Industry Trade (Subor Boru Sanayi Ve Ticaret A.S.) for an undisclosed amount. With this partnership, Energy Services anticipates a fruitful future for both businesses. Subor Pipe Industry Trade is a Turkey-based company that manufactures of Glass fiber Reinforced Polyester (GRP) Pipes.
Which Are the Top Companies in the Fiberglass Pipes Market?
Major companies operating in the fiberglass pipes market include NOV Inc., Saudi Arabian Amiantit Company, HOBAS International GmbH, Chemical Process Piping Pvt. Ltd., Fibrex Corporation, Abu Dhabi Pipe Factory LLC, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Future Pipe Industries Inc., Sarplast SA, ZCL Composites Inc., Hengrun Group Co. Ltd., Sekisui Chemical Co. Ltd., Balaji Fiber Reinforce Pvt. Ltd., Shawcor Ltd., Amiblu Holding GmbH, EPP Composites Pvt. Ltd., Kuzeyboru AS, Poly Plast Chemi Plants (I) Pvt. Ltd., Plasticon Germany GmbH, Kurotec-KTS GmbH, Enduro Composites Inc., Flowtite Technology AS, Fiberglass Fabricators Inc., Fibrex FRP Piping Systems, Fibro Plastichem India Pvt. Ltd., Fibrotech Industries, Fibrox Plastichem India Pvt. Ltd., Fibsol GmbH, Fibtech Composite Industries, Fibtex Industries, Fibxol Polymers Pvt. Ltd., Filament Windings Inc., Flowtite South Africa, Fibre Reinforced Plastic Manufacturing Inc.
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Which Region Is Projected to Account for the Largest Share of the Fiberglass Pipes Market?
Asia-Pacific was the largest region in the fiberglass pipes Market in 2024. The regions covered in the fiberglass pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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