GRP & GRE Pipe Market Size, Share, Growth and Industry Analysis, By Type (Polyester, Epoxy and Others), By Application (Oil and Gas, Municipal, Agricultural Irrigation, Industrial and Other Applications), Regional Insights, and Forecast To 2031

Updated On: 08 July 2024

GRP and GRE Pipe Market REPORT OVERVIEW

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The global GRP & GRE pipe market size was USD 4326.8 million in 2022 and market is projected to touch USD 7065.5 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 5.6% during the forecast period.

Glass fiber is used in fiberglass, a common type of fiber reinforced plastic. The thermoset polymer matrix for the plastic can be made of thermosetting polymers like epoxy, polyester resin, or thermoplastic. Other common names for fiberglass include GRP (glass reinforced polymers) and GRE (glass reinforced epoxy). For corrosive, hostile, and typical situations, GRP & GRE pipe are popular substitutes for carbon steel pipes. These pipes are used as pressure and gravity pipelines for oil, water, seawater, and industrial pipelines due to their special qualities of thermal and chemical endurance as well as good mechanical properties. These GRP & GRE pipe lines are used for many different purposes, including return in power plants around the world and numerous other uses.

COVID-19 Impact: Decrease in Demand due to Spread of the Virus and Restrictions Implement Worldwide

The worldwide GRP & GRE pipe market has been significantly impacted by the COVID-19 outbreak. A number of governments' enacted nationwide lockdowns had an impact on the manufacturing sector. As a result, the demand for pipes in various industries decreased, which had an impact on market expansion. The GRP & GRE pipe industry is expected to grow as a result of emerging countries' rapid infrastructure development after the COVID-19 pandemic.

LATEST TRENDS

"Latest Fiberglass Systems Facility utilized to Produce Spoolable and Jointed GRE Pipes"

National Oilwell Varco (NOV) 2019 built a fiberglass systems manufacturing facility in Dammam, Saudi Arabia. With a 24,000 m2 production area, this plant is reportedly the first in the region to produce spoolable and jointed GRE pipe, GRE high pressure line pipe, down hole tubing, and casting. Customers were able to do away with corrosion in their applications, lower induction and prolongation costs over the course of their pipes' lifetimes, and more efficiently transfer resources of superior quality to the market.

GRP and GRE Pipe Market SEGMENTATION

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• By Type

Based on type, the market is distributed into Polyester, Epoxy and Others

• By Application

Based on application, the market is divided into Oil and Gas, Municipal, Agricultural Irrigation, Industrial and Other Applications

DRIVING FACTORS

"Strong to Support Weight and Ease to install makes GRE Pipes Suitable for Implementation"

The strength to weight ratio of GRE pipes is very good. When compared to polyvinyl chloride (PVC) pipes, GRE pipes have a hoop tensile strength of 300 to 400 MPA. They don't require welding, bolting, or bonding agents. It is mechanically strong and capable of supporting low to moderate weight. GRE pipes are also far lighter than mild steel, ductile iron, and high density polyethylene pipes (HDPE). This guarantees that they are simple to install and move. Such pipes have advantages over conventional materials such durability, affordability, and consistency.

"High Resistance and Economic Feasibility make GRP pipes Suitable for Long Term Use"

GRP pipes are long-lasting and corrosion-resistant. They are made of a mixture of polyester resin and glass fiber, which keeps them from rusting. They are also resistant to water, UV radiation, heat, chemicals, gasses, oil, and adverse environmental conditions. For repairs and maintenance, no extra cathodic protection or galvanization is needed. GRP's resistance to hydrocarbon liquids makes it useful for building in the glass and oil industries. They are economically feasible because of their fifty-year shelf life and lack of maintenance requirements. GRP pipes are secure for transporting food and drinkable water because of the helical filament winding technique, polymerization, and vaporization.

RESTRAINING FACTOR

"Availability of Substitutes and Rising Cost of Raw Materials Hamper the Growth of this Market"

The market for GRP & GRE pipe is severely hampered by the availability of GRP and GRE replacements. A less expensive and more lightweight alternative to glass-reinforced pipes is long fiber injection (LFI). Plastics made of polyurethane are used by the LFI. Comparing LFI pipes to GRP & GRE pipe, which are more expensive and have lower impact resistance, reveals that the former are lighter, more impact resistant, and more cost-effective. Additionally, the GRP & GRE pipe market growth is hampered by the rising cost of these pipes' raw materials, such as carbon fiber. Consequently, the industry for glass reinforced pipes is slowed down and faced with challenges due to the availability of substitutes and the increase in the price of raw materials.

GRP and GRE Pipe Market REGIONAL INSIGHTS

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"Asia Pacific to Lead during the Forecast Period due to Increase in Distribution Systems "

Asia Pacific will lead the GRP & GRE pipe market share for glass reinforced pipes on a regional level over the prediction period. This is because the region is seeing increased economic growth, urbanization, and a rise in government spending’s on infrastructure development, including the building of increasing water distribution systems and other similar projects. Aside from that, the demand for the market in this area is being driven by the growing use of glass reinforced pipes for the oil and gas industry's corrosive and harsh environments as opposed to conventional steel pipes.

KEY INDUSTRY PLAYERS

"Technological Launches and R&D to stay ahead in the Market"

The top manufacturers in the GRP & GRE pipe market are investing their capitals into technology launches, research and developments, partnerships such as the top companies are making agreements with the local manufacturers of various regions to cover a wider market as well as acquisitions. The GRP & GRE pipe companies are coming up with various effective methods to stay ahead of their competitors, sell more of their products and also, research methods to serve the clients and turn them into long term customers.

List of Market Players Profiled

• Future Pipe Industries (FPI) (Dubai)
• National Oilwell Varco (NOV) (U.S.)
• Farassan (Iran)
• Lianyungang Zhongfu (China)
• Hengrun Group (China)
• Abu Dhabi Pipe Factory (United Arab Emirates)
• Shawcor (ZCL Composites Inc) (Canada)
• Enduro Composites (U.S.)
• Chemical Process Piping (CPP) (India)
• Graphite India Limited (India)

REPORT COVERAGE

This report covers the GRP & GRE pipe market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.