Fiberglass pipes market: Increase in offshore oil & gas production activities to drive the market growth

Posted On Aug, 11, 2017

Fiberglass pipe is a composite used as an alternative to traditional pipes such as Poly vinyl chloride (PVC), concrete, and steel, which fail to meet the changing consumer requirements in applications such as oil & gas, chemicals, sewage, aviation, renewables, and irrigation. Raw materials used in the production of fiberglass pipes include various types of resins, glass fibers, catalysts, accelerators, and additives. Fiberglass pipes also offer advantages such as the production of piping products in varied range of diameters and shapes to suit the customer needs in wide variety of applications

Use of fiberglass pipe is primarily driven by the need for pipes that offer advantages such as easy installations, low maintenance costs, flexibility in producing complex shapes, and immunity to corrosion. Manufacturers improve the performance and quality of fiberglass pipes by complying with the standards authorized by various global certification agencies such as international Organization for Standardization (ISO), American Water Works Association (AWWA).

Increasing application of piping equipment for exploration in untapped resources is requiring pipes that are easy to monitor leakage during operation and can penetrate in extreme geographic conditions. GRE pipes can operate under such extreme marine conditions, which is suitable for subsea applications in particular. In addition, water scarcity has been a major driver for the re-use of treated water and to match the quality of potable water requires treatment. GRP pipes ensure resistance to toxic chemicals and provide natural resistance of pH 1 to 14, that ensure quality of potable water. These factors, coupled with stringent regulations for water treatment in chemical and processing industries offers a scope of growth for utilization of fiberglass pipes in treatment facilities.

Huge infrastructure investments have created a need for efficient transportation facilities through economical ways. In addition, investments in non-OECD countries to build infrastructure and investments in OECD countries to upgrade their ageing infrastructure is going to fuel the fiberglass pipes market. Consent of International Marine Organization (IMO) to allow the use of fiberglass in level 3 fire endurance applications is also expected to give attractive growth opportunities in marine industry.

Asia Pacific was leading the global market in terms of revenue in 2016 and is anticipated to continue its dominance over the next forecast period of eight years. This region is well supported with the presence of a large number of domestic raw material suppliers who can supply quality raw materials at competitive prices. A large number of small-scale manufacturers are also involved in the development of products in a bid to compete with global players and increasing their production levels to meet rising demand. Major end-users for fiberglass includeExxonMobil Corporation, Chevron Corporation, National Oilwell Varco and others.

  In-depth report on global pressure relief devices market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/fiberglass-pipe-market

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