Asia Pacific to Dominate Fiberglass Pipes Market by 2023
Posted by Mayur Yeole on February 15th, 2021
The global fiberglass pipes market will touch USD 20.32 billion at a 9.2% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. Fiberglass pipes, simply put, are composite products that are developed from glass fiber reinforcements that are enclosed via thermosetting resin. These types in comparison to traditional pipes, possess high durability, superior strength, high tensile strength, virtually inert, and low density, and superior mechanical properties.
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By types, the global fiberglass pipes market is segmented into S-glass, E-glass, R-glass, D-glass, A-glass, C-glass, and others. The others segment is again segmented into AR-glass and ECR-glass. Of these, E-glass segment will lead the market over the forecast period.
By application, the global fiberglass pipes market is segmented into composites and insulation. Of these, the composites segment will dominate the market over the forecast period.
By end user, the global fiberglass pipes market is segmented into industrial, electrical, pharmaceutical, construction, aerospace, automotive, and others. The others segment is again segmented into wind energy and petrochemicals. Of these, the construction segment will spearhead the market over the forecast period.
The APAC region will dominate the market over the forecast period. The constant rise in infrastructural projects in India and China, increased focus to build industrial and chemical applications, waste-water applications, and urban structures, high demand for fiberglass pipes, decreased labor cost, increasing focus on emission control policies, growing need for eco-friendly products, technological advances in composites, and replacement of aluminium and steel with fiberglass are adding to the global fiberglass pipes market growth in the region.
In North America, the global fiberglass pipes market is predicted to have healthy growth over the forecast period. Increasing oil and gas exploration and shale gas activities is adding to the global fiberglass pipes market growth in the region.
In Europe, the global fiberglass pipes market is predicted to have sound growth over the forecast period. Demand for high strength materials like fiberglass by premium car manufacturers, increasing application in the automotive sector, and growing usage of fiberglass in the construction industry are adding to the global fiberglass pipes market growth in the region.
Key contenders profiled in the global fiberglass pipes market report include Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd (China), Chemical Process Piping Pvt. Ltd. (India), Future Pipe Industries (UAE), Hengrun Group Co., Ltd. (China), National Oilwell Varco (US), Saudi Arabian Amiantit Co. (Saudi Arabia), HOBAS (Austria), Graphite India Limited (India), Abu Dhabi Pipe Factory (UAE), and Sarplast SA (Switzerland).
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About the AuthorMayur Yeole
Joined: February 8th, 2021
Articles Posted: 565
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