Glass reinforced epoxy (GRE) pipes are alternatives to the standard steel carbon pipes owing to its lightweight characteristic. The substitution of steel carbon pipes with GRE Pipes has fueled growth in the Global GRE Pipes Market. Market Research Future has analyzed the global market for GRE Pipes in its latest report and derived that the market will demonstrate steady growth at 4.2% CAGR during the forecast period 2016 to 2022.
GRE pipes can be utilized even in swampy and moist areas due to its anti-corrosive nature which is multiplying the application of the pipe in the market. Other factors responsible for the amplified growth of the market are its characteristics such as easy deployment, low maintenance, durability, resistance to pressure, minimized loss of fluid flow, etc. The utilization of these pipes can be effectively employed for sewerage disposal systems, cross country pipelines, etc.
The industries that have widely adopted the use of GRE Pipes include oil& gas, chemicals, petrochemicals, fire mains, etc. However, the GRE Pipes are brittle and do not have much resistance to sudden impacts which may mildly hamper the growth and expansion of the market.
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Global GRE Pipes Market Segmentation:
The market has been segmented on the basis of End-User into Petrochemicals, Oil & Gas, Power & Energy and other Industries.
Detailed Regional Analysis:
By Region, the GRE Pipe Market has been segmented into North America, Europe, APAC, Latin America, and, Middle East & Africa. Asia Pacific holds the most substantial position in the global market with a significant profit contribution from countries such as India, China, Malaysia, Indonesia, etc. The factors fueling growth in the region are urbanization and industrialization. The rapid industrialization has amplified the demand for GRE Pipes owing to its durability and resistance. The developments in core industries that drive the economic growth of a country such as power & energy, petrochemicals, oil & gas, etc. have catapulted creation of demand for GRE Pipes in the region. North America is the second most lucrative market for GRE Pipes. The boom in the oil & gas industry has catalyzed the market expansion for GRE Pipes by fueling demand in the region. The developed industrial sector is also favoring growth in the region. The industrial and infrastructural developments in Europe will push the market to thrive over the next few years. Middle East & Africa has abundant natural resources, and the economies are dependent on exports. Therefore, the demand for GRE Pipes will be expanding at a healthy CAGR during the assessment period. The developments in the infrastructure sector will also steer growth in the region. Latin America market will see developments in the GRE Market and is expected to witness steady growth.
Some of the key players profiled by MRFR in its report are Pipex Limited (UK), Tamdid pipes (Saudi Arabia), Acwapipe (Saudi Arabia), National Oilwell Varco (US), Future Pipe Industries (India), Epp Composites Pvt. Ltd. (India), and, Smithline Reinforced Composites (UAE). The top-notch players make the competitive landscape favorable for growth and expansion of the market. The strategies implemented by the players to retain their prominence include strategic alliances, collaborations, product launch, research & development, etc.
National Oilwell Varco (NOV) has acquired GustoMSC, which is a Dutch provider of design & engineering for mobile offshore equipment and units. National Oilwell Varco provides for manufacturing, designing, and selling of components and equipment used in oil and gas drilling and production operations. NOV is one of the pioneers of GRE Pipes Market and is based out of Houston, U.S.
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