Pune, India, June 27, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Fiberglass Pipes Market Size Report, Share, Growth Strategy, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis – by Resin Type, End-Use, and Geography,” The fiberglass pipes market was valued at US$ 4.43 Billion in 2022 to US$ 5.69 Billion by 2028; it is estimated to grow at a CAGR of 4.3% from 2022 to 2028. includes the factors governing the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.
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Fiberglass Pipes Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 4.43 Billion in 2022 |
| Market Size Value by | USD 5.69 Billion by 2028 |
| Growth rate | CAGR of 4.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 195 |
| No. of Tables | 87 |
| No. of Charts & Figures | 104 |
| Historical data available | Yes |
| Segments covered | Resin Type, and End-Use |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Amiblu Holding GmbH, Chemical Process Piping Pvt Ltd, EPP Composites Pvt Ltd, Fibrex LLC, Future Pipe Industries LLC, Gruppo Sarplast Srl, Kuzeyboru AS, Lianyungang Zhongfu Lianzhong Composites Group Co Ltd, NOV Inc, Saudi Arabian Amiantit Co, Sunrise Industries (India) Ltd, Poly Plast Chemi Plants (I) Pvt Ltd, Plasticon Germany GmbH, and Kurotec-KTS GmbH |
Global Fiberglass Pipes Market: Competitive Landscape and Key Developments
Amiblu Holding GmbH, Chemical Process Piping Pvt Ltd, EPP Composites Pvt Ltd, Fibrex LLC, Future Pipe Industries LLC, Gruppo Sarplast Srl, Kuzeyboru AS, Lianyungang Zhongfu Lianzhong Composites Group Co Ltd, NOV Inc, Saudi Arabian Amiantit Co, Sunrise Industries (India) Ltd, Poly Plast Chemi Plants (I) Pvt Ltd, Plasticon Germany GmbH, and Kurotec-KTS GmbH are key players operating in the global Fiberglass Pipes market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.
Browse key market insights spread across 195 pages with 87 list of tables & 104 list of figures from the report, Fiberglass Pipes Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Resin Type (Polyester, Epoxy, Phenolic, and Others) and End-Use (Oil and Gas, Sewage, Chemicals, Agriculture, and Others)"
Fiberglass pipes consist of fiberglass and thermosetting resins. These pipes are easy to install and require low maintenance. Fiberglass pipes are manufactured by a winding process that reinforces thermosetting epoxy resins with continuous glass filaments. During the process, the resins undergo an irreversible chemical reaction that gives them superior resistance to temperature variation, while the glass fibers give them increased mechanical strength.
Durability is one of the key qualities of Fiberglass Pipess. Fiberglass Pipess and panels typically outlast vinyl siding and other alternative products in lifespan. In 10 to 15 years, vinyl siding can show signs of aging, whereas Fiberglass Pipes can last up to 30 to 50 years or more. Further, in cement production, carbon dioxide is a byproduct. However, manufacturing vinyl siding containing polyvinyl chloride (PVC) produces more carbon dioxide than cement production. Moreover, vinyl siding off-gases throughout its lifetime as it occupies a space landfill. Hence, Fiberglass Pipes siding is a greener alternative to vinyl siding.
Fiberglass Pipes products do not require frequent repainting as it holds paint well. Also, they do not dent unlike steel siding. Fiberglass Pipes products stand stronger in moisture and leaks than gypsum boards. These products possess excellent moisture-absorbing and drying properties, making them resistant to weather changes. Mentioned properties of Fiberglass Pipes are anticipated to boost Fiberglass Pipes market growth during the forecast period.
Fiberglass Pipes Market: Segmental Overview
Based on resin type, the fiberglass pipes market is segmented into polyester, epoxy, phenolic, and others. In 2022, the polyester segment dominated the market. Furthermore, the epoxy segment is expected to grow at the highest CAGR during the forecast period. In fiberglass pipes, polyester resin, which is lightweight, offers high strength, high-pressure resistance, strong insulation performance, and resistance to corrosion. Water and sewage pipelines with high diameters are made using polyester resins. These resins have excellent chemical resistance. There are different types of polyester resins available for manufacturers to provide a good range of performance characteristics.
The fiberglass pipes market is segmented into five main regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In 2022, Asia Pacific dominated the global fiberglass pipes market, and is expected to register the highest CAGR during the forecast period. Asia Pacific is a prominent market for fiberglass pipes owing to the growth in the chemical and oil & gas sectors and a rise in urbanization, leading to increased demand for sewage systems. Moreover, government initiatives and policies such as Make-in-India encourage the setup of various manufacturing plants in the country. The rise in foreign direct investments also leads to regional economic growth, further bolstering industrialization in the region. The chemical manufacturing industry is an important part of manufactured exports for several Asian nations, including China, South Korea, India, and Japan.
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Impact of COVID-19 Pandemic on Fiberglass Pipes Market
The onset of the COVID-19 pandemic resulted in the imposition of a domestic lockdown by governments of several countries globally, which led to an immediate decline in the economy, a slowdown in the global demand for trade, expansion strategies, and disruption in the supply chain. Subsequently, these factors hampered the manufacturing, delivery schedules, and sales of various goods. Various companies announced possible delays in raw material deliveries such as glass fiber, and projected a slump in the sales of fiberglass products. Further, trade restrictions imposed by countries in Europe, Asia Pacific, and North America disrupted the supply chain. All these factors hampered the progress of the chemicals & materials industry. The shortage of manpower and a temporary drop in sales, caused due to lockdowns and government restrictions, adversely impacted the fiberglass pipes market.
In 2022, the global marketplace began recovering from the losses incurred in 2020 as governments of different countries announced relaxation in social restrictions. Manufacturers were permitted to operate at full capacities, which helped them overcome the demand-supply gap. Moreover, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for industrial and commercial progress. With economies reviving their operations, the demand for fiberglass pipes started rising globally as the oil & gas and chemical industries resumed their operations at full capacity.
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