The GRE Pipes Market Size was valued at USD 3.5 Billion in 2022. The GRE Pipes market industry is projected to grow from USD 3.65 Billion in 2023 to USD 5.11 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2023 - 2032). Rapid industrialization and Increased investment in the power-generating industry are the key market drivers contributing to overall market revenue and growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising investment in the power-generating industry is driving the market CAGR for GRE Pipes. Because of their practical resilience in corrosive and hostile environments, glass-reinforced epoxy pipes, also known as GRE pipes, are frequently utilized as a substitute for stainless steel pipes. GRE pipes are made using the discontinuous winding of filament technology, which involves processing fiberglass filaments and amine-cured resins made of epoxy in discontinuous winding equipment. These pipes are frequently utilized for offshore purposes such as brine shipping, water dredging, and transporting Gas because of their light qualities and good chemical resistance.
Additionally, they are utilized in drinking water transfer, power plants and chemical plant pipes, and other purposes. Other industrial uses include sewers for sanitation, emergency lines, gas transportation, injecting water & tubing, and casing. Proliferating needs in end-use sectors such as petrochemical and oil refineries, maritime, mineral extraction, and hydropower facilities are likely to drive market expansion. Increased industrial production in developing nations is expected to support market expansion in the future years. GRE pipes have a high safety factor, are resistant to high pressure, and have outstanding hydraulic effectiveness, allowing them to be used in various pipelines in diverse sectors. Other elements boosting its popularity include its monetary benefits, such as extended lifespan and almost little post-installation service.
COVID-19 had a negative impact on the GRE pipe industry. The COVID-19 epidemic caused a drop in income and sales in the market. However, with the slow opening of enterprises, the GRE market is predicted to revive stepwise during the forecast timeframe. Manufacturers worldwide. The market is employing innovative business strategies to remain financially viable in the industry. The increasing usage of these pipes across multiple end-use sectors provides value-added possibilities for industry participants worldwide.
For instance, according to NITI AYOG, wastewater treatment facilities in India were worth USD 2.4 billion in 2019 and are predicted to be worth USD 4.3 billion by 2025. The rise in the municipality and wastewater treatment facilities due to increased water shortage drives the nation's GRE pipe market. Thus, it is anticipated that demand for GRE Pipes will increase during the projection period due to the rising investment in the power-generating industry. Thus, driving the GRE Pipes market revenue.
The GRE Pipes market segmentation, based on Application, includes Gas Transportation, Fire-Fitting, Sewage Disposal Lines, Acid Transportation, Offshore, and Others. Gas transportation segment dominated the market, accounting for 42% of market revenue (USD 1.5 billion) in 2022. Category growth is driven by rising demand from the energy sector; GRE pipes are seeing significant expansion in gas transportation operations. This is because GRE has greater benefits over thermoplastic materials or pipes made of metal, such as extreme temperature capabilities, corrosion control, consistent pressure management in oil and Gas, and corrosion resistance, which make it an ideal option for offshore and onshore natural gas and oil applications.
The GRE Pipes market segmentation, based on End-Use Industry, includes Petrochemicals, Oil & Gas, Power & Energy, Chemical, and Water Treatment. The oil & gas category generated the highest revenue of about 52% (USD 1.8 billion) in 2022. The advantages of the growing use of fiber-reinforced pipelines for the harmful and corrosive surroundings of the oil and gas industry contrasted with conventional steel pipe, GRE pipes have significant uses in the oil & gas industry in transporting oil pipes, retail gasoline, aquatic, offshore, and others.
Figure 1: GRE Pipes Market by End-Use Industry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American GRE Pipes market area will dominate this market during the projected timeframe because of the existence of widely recognized final-use industries like water treatment facilities and natural gas and oil sectors. In addition, the growing infrastructures for transporting oil and plentiful water for Gas from shale extraction will boost the market revenue in this region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GRE Pipes Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Europe region’s GRE Pipes market is expected to grow significantly during the projected timeframe because of the growing preference for GRE pipes against PVC pipes in various industrial sectors. Furthermore, there is an increasing need for GRE pipes in the region's petrochemical sectors. Further, the German GRE Pipes market holds the largest market share, and the UK GRE Pipes market is expected to grow and expand steadily in the European region during the projected timeframe.
The Asia-Pacific GRE Pipes Market accounts for the second-largest market share during the projected timeframe. This is due to increasing GRE pipe demand in end-use industries such as oil & gas. Increased industrialization and expenditure in the power-generating industry are two key factors for the APAC region's overall market growth. Moreover, China’s GRE Pipes market dominates the market share, and the Indian GRE Pipes market is expected to grow and expand significantly in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the GRE Pipes market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The GRE Pipes industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the GRE Pipes industry to benefit customers and capture untapped market share and revenue. The GRE Pipes industry has recently offered significant advantages to the Oil and Gas industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the GRE Pipes market, including Saudi Arabian Amiantit Co. (Oman), National Oilwell Varco (US), Future Pipe Industries (Dubai), Shawcor Ltd (Canada), Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd (China), Hengrun Group Co., Ltd (China), a, are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
NOV Inc. (National Oilwell Varco) is an MNC firm that supplies oilfield machinery, technology, and experience to meet gas and oil clients' security and productivity issues. The firm operates in over 500 locations on six continents and is organized into three operating segments: Rig Technologies, Completion & Production Solutions, and Wellbore Technologies. In November 2019, NOV opened a Fiber Glass Systems manufacturing plant in Dammam, Saudi Arabia. With a manufacturing area of 24,000 square meters, this factory will be among the initial ones in the country to manufacture spoolable and linked GRE pipe, GRE high-pressure pipeline, and downhole tubing and casings.
Haydale is a worldwide technologies and materials company that enables the incorporation of graphene and nanomaterials into the upcoming generations of business and industrial products. They have received granted patents on their technology, and it operates from six locations in the UK, the US, and the Middle East. The company has created a range of customized nano-enhanced compounds for thermosets and thermoplastic materials, elastomers and manufacturing oils, silicon carbide, inks and finishes, and 3D printing industries. Haydale and Flowtite Technology AS signed a new collaborative development agreement in May 2020 to develop superior pipeline technologies that utilize revolutionary material science and technology, particularly Haydale-modified graphene-based thermosetting resin.
May 2020: Haydale and Flowtite Technology AS signed a new collaborative development agreement in May 2020 to develop superior pipeline technologies that utilize revolutionary material science and technology, particularly Haydale-modified graphene-based thermosetting resin.
November 2019: NOV opened a Fiber Glass Systems manufacturing plant in Dammam, Saudi Arabia. With a manufacturing area of 24,000 square meters, this factory will be among the initial ones in the country to manufacture spoolable and linked GRE pipe, GRE high-pressure pipeline, and downhole tubing and casings.
September 2019: IFS enhanced its filament-wrapped FRP product line in September 2019. The company may create resistant-to-corrosion methacrylate-modified epoxy FRP pipes, canals, and connections for several programs, including chemical use settings.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 3.5 Billion |
| Market Size 2023 | USD 3.65 Billion |
| Market Size 2032 | USD 5.11 Billion |
| Compound Annual Growth Rate (CAGR) | 4.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Saudi Arabian Amiantit Co. (Oman), National Oilwell Varco (US), Future Pipe Industries (Dubai), Shawcor Ltd (Canada), Hengrun Group Co., Ltd (China), Kemrock Industries and Exports Limited (India), AcwaPipe (Saudi Arabia), and smithlinecomposites (UAE) |
| Key Market Opportunities | Applications Sectors Monetary advantages |
| Key Market Dynamics | Increased investment in the power-generating industry. Rapid industrialization in emerging economies. |
Frequently Asked Questions (FAQ) :
The GRE Pipes Market size was valued at USD 3.5 Billion in 2022.
The GRE Pipes Market is projected to grow at a CAGR of 4.30% during the forecast period, 2023-2032.
North America holds the largest share of the GRE Pipes Market.
The key players in the GRE Pipes Market are Saudi Arabian Amiantit Co. (Oman), National Oilwell Varco (US), Future Pipe Industries (Dubai), Shawcor Ltd (Canada), Hengrun Group Co., Ltd (China), Kemrock Industries and Exports Limited (India), AcwaPipe (Saudi Arabia), and smithlinecomposites (UAE).
The gas Transportation category dominated the GRE Pipes Market in 2022.
Oil & Gas had the largest share of the GRE Pipes Market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
