Market Size of Fiberglass Pipes Industry
Study Period | 2019-2029 |
Market Size (2024) | USD 3.29 Billion |
Market Size (2029) | USD 4.07 Billion |
CAGR (2024 - 2029) | 4.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Fiberglass Pipes Market Analysis
The Fiberglass Pipes Market size is estimated at USD 3.29 billion in 2024, and is expected to reach USD 4.07 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic negatively affected the market for fiberglass pipes. Due to nationwide lockdowns in several countries, strict social distancing measures resulted in the closure of chemical manufacturing plants, oil and gas refining plants, and exploration activities, thereby affecting the market for fiberglass pipes. However, the market registered a significant growth rate well after the restrictions were lifted. The market registered a growth rate due to the increasing demand for fiberglass pipes in chemical, oil and gas, agriculture, and sewage applications.
- The increasing installation of oil and gas pipelines and rising demand for fiberglass pipes in the chemical industry are expected to drive the market for Fiberglass Pipes.
- On the flip side, fluctuations in the prices of raw materials are expected to hinder the growth of the market.
- The adoption of fiberglass pipes in wastewater systems and the increasing demand for fiberglass in emerging economies are expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period. It is due to the rising demand for fiberglass pipes in oil and gas, chemicals, agriculture, and sewage applications.
Fiberglass Pipes Industry Segmentation
Fiberglass pipes are manufactured by filament winding process or contact molding process. The fiberglass pipes are composite pipes that offer resistance against corrosive environments, hydrocarbons, and chemicals.
The fiberglass pipes market is segmented into type, end-user industry, and geography. Based on type, the market is segmented into glass fiber-reinforced plastic (GRP) pipes, glass-reinforced epoxy (GRE) pipes, and others (FRP square tube, FRP composite pipe, etc.). Based on the end-user industry, the market is segmented into oil & gas, chemicals, agriculture, sewage, and others (power generation, desalination, etc.). The report also covers the market size and forecasts for fiberglass pipes in 15 countries across major regions. Each segment's market sizing and forecasts are based on value (USD).
Type | |
Glass Fiber Reinforced Plastic (GRP) Pipes | |
Glass Reinforced Epoxy (GRE) Pipes | |
Others (FRP Square Tube, FRP Composite Pipe, etc.) |
End-user Industry | |
Oil & Gas | |
Chemicals | |
Agriculture | |
Sewage | |
Others (Power generation, Desalination, etc.) |
Geography | |||||||
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Fiberglass Pipes Market Size Summary
The fiberglass pipes market is poised for significant growth, driven by increasing demand across various sectors such as chemical processing, oil and gas, agriculture, and sewage applications. The market experienced a downturn during the COVID-19 pandemic due to disruptions in manufacturing and exploration activities. However, it rebounded strongly as restrictions eased, with the chemical industry playing a pivotal role in this recovery. The properties of fiberglass pipes, including corrosion resistance and high-temperature tolerance, make them ideal for use in the chemical industry, which is experiencing robust growth globally. The Asia-Pacific region, particularly countries like China and India, is expected to dominate the market due to its expanding chemical processing and oil and gas sectors.
Despite the promising growth prospects, the market faces challenges such as fluctuations in raw material prices, which could impede its expansion. Nonetheless, opportunities abound in the adoption of fiberglass pipes for wastewater systems and the growing demand in emerging economies. The Asia-Pacific region is anticipated to be the fastest-growing market, with China and India leading the charge due to their substantial investments in oil and gas infrastructure and chemical production. The market is characterized by partial fragmentation, with key players like Chemical Process Piping Pvt. Ltd., Graphite India Limited, and Future Pipe Industries actively expanding their production capabilities to meet the rising demand.
Fiberglass Pipes Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 The Increasing Installation of Oil and Gas Pipelines
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1.1.2 Rising Demand for Fiber Glass Pipes in Chemical Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Fluctuations in The Prices of Raw Materials
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1.2.2 Other Drivers
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Glass Fiber Reinforced Plastic (GRP) Pipes
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2.1.2 Glass Reinforced Epoxy (GRE) Pipes
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2.1.3 Others (FRP Square Tube, FRP Composite Pipe, etc.)
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2.2 End-user Industry
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2.2.1 Oil & Gas
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2.2.2 Chemicals
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2.2.3 Agriculture
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2.2.4 Sewage
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2.2.5 Others (Power generation, Desalination, etc.)
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Fiberglass Pipes Market Size FAQs
How big is the Fiberglass Pipes Market?
The Fiberglass Pipes Market size is expected to reach USD 3.29 billion in 2024 and grow at a CAGR of greater than 4% to reach USD 4.07 billion by 2029.
What is the current Fiberglass Pipes Market size?
In 2024, the Fiberglass Pipes Market size is expected to reach USD 3.29 billion.