At 3.7% CAGR, the North America Fiberglass Pipes Market is Projected to be Worth US$ 1,341.16 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the North America fiberglass pipes market was valued at US$ 1,078.60 million in 2022 and is expected to reach US$ 1,341.16 million by 2028, registering a CAGR of 3.7% from 2022 to 2028. Increasing installation of oil & gas pipelines and rising demand for fiberglass pipes in chemical industry are the critical factors attributed to the North America fiberglass pipes market expansion.                     

Fiberglass pipes are considered a reliable and cost-effective alternative to steel pipes for onshore and offshore corrosion control in the low to high-pressure oil & gas sector. The diverse range of pipeline applications in the sector include oil separation, enhanced oil recovery systems, oil production processes, transportation, and underground piping. The wide range of applications of fiberglass pipes such as fiberglass-reinforced epoxy pipes and fiberglass-reinforced polyester pipes can be attributed to its properties such as corrosion and pressure resistance, long service life, lightweight, high strength, nontoxic nature, and other mechanical properties.

The oil & gas industry is reporting increasing fuel demand due to rapid economic growth and rising oil utilization for applications such as feedstock and power generation.

The US is the top country with a significant number of proposed and in-development pipeline projects. According to the Energy Information Administration’s Liquids Pipeline Projects Database, the US recorded the completion of 14 petroleum liquids pipelines in 2021. 6 out of 14 projects were newly constructed pipelines, 5 projects were the expansion of existing pipelines, 2 projects were reversal of pipeline direction, and 1 project involved modification in commodity carried in pipeline. The report revealed the completion of two crude oil pipeline projects in the US in the first 5 months of 2022. Thus, the increasing installation of oil & gas pipelines across the world drives the demand for fiberglass pipes.

On the contrary, fluctuation in prices of raw materials hurdles the growth of North America fiberglass pipes market. 

Based on resin type, the North America fiberglass pipes market is segmented into polyester, epoxy, phenolic, and others. The polyester segment held 44.5% share of North America fiberglass pipes market in 2022, amassing US$ 480.00 million. It is projected to garner US$ 594.33 million by 2028 to expand at 3.6% CAGR during 2022–2028.

Based on end use, the North America fiberglass pipes market is segmented into oil and gas, sewage, chemicals, agriculture, and others. The oil and gas segment held 42.6% share of North America fiberglass pipes market in 2022, amassing US$ 459.41 million. It is projected to garner US$ 567.13 million by 2028 to expand at 3.6% CAGR during 2022–2028.  

Based on country, the North America fiberglass pipes market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.1% share of North America fiberglass pipes market in 2022. It was assessed at US$ 896.07 million in 2022 and is likely to hit US$ 1,118.96 million by 2028, exhibiting a CAGR of 3.8% during 2022–2028. 

Key players operating in the North America fiberglass pipes market are Amiblu Holding GmbH, Chemical Process Piping Pvt Ltd, EPP Composites Pvt Ltd, Fibrex FRP Piping Systems, Future Pipe Industries LLC, NOV Inc, Sunrise Industries (India) Ltd, Poly Plast Chemi Plants (I) Pvt Ltd, and Plasticon Germany GmbH., among others.   

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