Fiberglass Pipe Market: Lightweight, Superior Chemical and Corrosion Resistance
- Fiberglass pipes are obtained from the composition of various materials such as glass fiber, polyester resin, and fillers. Fiberglass pipes provide strength, long durability, and excellent tensile strength. This property is required for the onshore and offshore applications against the extreme pressure and conditions.
- Fiberglass pipes are suitable to carry high corrosion materials, acids, and biological liquids. The fiberglass pipes deliver low installation costs, corrosion resistance, and lightweight benefits are likely to exhibit significant growth in the coming years.
- Fiberglass is manufactured from different types and forms of raw materials such as A-glass, C-glass, E-glass, AE-glass and S-glass. Fiberglass pipes offer low modulus of electricity and excellent mechanical strength benefits. The major characteristics of material are required to provide a high strength-to-weight ratio to withstand high pressures conditions.
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Rise in Demand for Lightweight Components Drives the Fiberglass Pipe Market
- Rising demand for lightweight, corrosion resistance, and durable pipe lines in the several countries owing to the associated high project cost for pipeline installation for heavy pipes and material. This factor is expected to fuel fiberglass pipe market in the coming years.
- Rapid industrialization across countries is fuelling the demand for cost-effective and durable pipelines owing to the rising cost of metals pipes & tubes. This is anticipated to boost the fiberglass pipe market during the forecast period.
- Majority of the EPC (Engineering, Procurement, and construction) companies are putting efforts to reduce the overall cost of the project. As lightweight components help to reduce the overall cost of transportation and installation compared to heavy items. Light weight pipes are highly preferred at the project site. Owing to this factor, demand for fiberglass pipe is expected to propel during the forecast period.
- Increase in population has augmented the demand for fuel, oil, gas to meet daily needs. This has turn rise in the construction and implementation of pipelines to carry these materials. This is a major factor which is expected to drive the demand for fiberglass pipe in the next few years.
Filament Winding Technology is the Future of Fiberglass Pipe Market
- Fiberglass pipe can be manufactured using centrifugal casting process, filament winding process, pultrusion process and others. In which, filament winding is easy and best suited automation process for pipe, vessel and tube manufacturing.
- Filament winding is prominently adopted in large scale manufacturing process of fiberglass pipes and tubes products owing to the highly efficient and low cost benefits. The key advantages for the filament winding is highly preferred over the other process is likely to fuel the fiberglass pipe market during the forecast period.
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Oil & Gas Segment to Offer High Revenue Opportunities
- Pipelines are mostly required in many end-user industries such as oil & gas, water distribution & treatment, chemical, petrochemical etc. Demand for fiberglass pipe is expected to be major in Oil & Gas industry during the forecast period.
- Revival in oil exploration at global level followed by increase in demand for crude oil, LPG and Natural Gas is expected to drive the demand for fiberglass pipe in the coming years.
Epoxy Material Segment Likely to Exhibit Significant Growth
- Epoxy, Polyester, Polyurethane are the major materials which are used in manufacturing of fiberglass pipe. Epoxy is expected to hold prominent share in global fiberglass pipe market during the forecast period.
- However, Polyurethane is expected to exhibit significant growth rate for fiberglass pipe market in the coming years owing to the excellent performance to with stand high pressure conditions. This factor is likely to boost demand for fiberglass pipe during the forecast period.
- The resin combination with fiberglass material enhances the mechanical properties of pipe and is therefore well suited for extreme pressure pipelines in various industries. Some key type of fiberglass includes A-glass, C-glass, E-glass, T-glass, S-Glass, and R-Glass. These types are categorized on the basis electrical, chemical and mechanical properties.
- Vulnerability toward mechanical damage and lack of pipe jointing system standards are the major factors restraining the fiberglass pipe market.
- The fluctuating raw material prices of carbon fibers is projected to hamper fiberglass pipe market during the forecast period. Carbon fiber is highly preferred material for the manufacturing of automotive components and aircraft components.
- Owing to increase in demand from the aircraft and automotive industry, the fiberglass raw material suppliers are facing high pressure from the other end use industries, where pipes are majorly used. The increase in demand and supply gap has resulted in significant rise in the trading prices of carbon fiber material across the globe. Fluctuation in raw material prices followed by demand-supply gap are the major factor which is anticipated to hinder the overall demand of fiberglass pipe
Asia Pacific Expected to Hold Prominent Share in the Global Fiberglass Pipe Market
- In terms of revenue, Asia Pacific is expected to hold a major share of the global fiberglass pipe market in the next few years.
- According to the National Association of Corrosion Engineers (NACE International), including chemical industry the direct cost of corrosion was estimated around US$ 67 billion worldwide in 2014. Therefore, the most of companies are likely to take replacement option for the aged pipe lines without disturbing current operations. This factor is expected to offer lucrative opportunities for the fiberglass pipe manufacturers.
- Economic development and increase in government initiatives in developing infrastructure such as sewage lines, water distribution channels, and oil transportation are projected to boost the demand for fiberglass pipe during the forecast period.
- The market in Latin America and Middle East & Africa is expected to expand at a fast pace during the forecast period due to the prominent extraction of crude oil and distribution across the world.
Key Players Operating in the Fiberglass Pipe Market:
Large number of fiberglass pipe manufacturing companies are operating global and local market. Few of the key players operating in the fiberglass pipe market includef
