As per the latest market analysis report on glass reinforced epoxy (GRE) pipes by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 2.62 Bn in 2022, while expanding at a CAGR of around 5.4% over the period of 2022-2032, mainly due to growing demand for GRE pipes for oil & gas transportation across regions.
Over the past half-decade, dependency on oil & gas for energy has increased on the back of the phase down of coal utilization for energy across regions. This has proportionately enhanced oil exploration projects, providing a positive scenario for GRE pipes for crude oil transportation.
Furthermore, rising petrochemical integration across regions has also provided an impetus to glass reinforced epoxy pipe demand over the past half-decade.
Attributed to above discussed factors, GRE pipe application in oil fields is projected to account for around 69% of overall consumption and provide an absolute dollar opportunity worth US$ 1.5 Bn through 2032.
Key Takeaways from Market Study
- By application, oil & gas transmission is projected to provide an absolute $ opportunity worth US$ 1.04 Bn over the forecast period.
- Based on application, water treatment and sewage services are projected to expand at a CAGR of around 6.2% over the forecast period.
- On the basis of pressure, demand for 20-30 barges is anticipated to increase around 2.2X by 2032.
- North America is projected to capture around 25% of the global GRE pipes market share by 2032.
- Europe is expected to provide an absolute dollar opportunity worth US$ 673 million by 2032-end.
“Oil & gas supply disruptions in Europe are anticipated to dent global GRE pipe demand over the short term,” says a Fact.MR analyst.
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GRE pipe producers are gradually trying to optimize their supply chains by targeting oil & gas suppliers. Furthermore, glass reinforced epoxy pipe manufacturers are aligning their product lines in accordance with crude type and diameter, enhancing customer retention, especially in the United States and GCC countries.
Apart from supply chain optimization, manufacturers are focussing on diversification of their product line to capture the white spaces in water and waste water treatment.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the GRE Pipes market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of pressure (barg) (10-20, 20-30, 30-40, 40-50 and >50), diameter (25-100, 100-250, 250-500, 500-750, 750-1000, 1000-1200 and >1200) and application (oil fields (brine transmission and desalination, oil & gas transmission, offshore cooling water and drainage, fire water/fire protection pipes, others), chemicals/petrochemicals (chemical processing and steam condensate return, acid transportation, effluent discharge lines, water treatment and sewage services, sewage and sanitary services, seawater transport lines, water and waste water pipe lines, and others), and mining industry), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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