The global GRE (Glass Reinforced Epoxy) pipes market is expanding speedily, which in no time, is expected to witness a significant growth by 2027 with CAGR of approximately 4.2% from 2020-2027, reveals MRFR (Market Research Future) in its detailed reports. The report has a detailed analysis of segmental analysis and factors that can impact the market growth in the forecast years. Among factors, the increasing use of GRE pipes in industries is also helping the market in staying forward. Introduction of unique elements is helping the industrial workers on usage, costing and more is supporting the GRE pipes market growth substantially. At the same time, many industries are also showing acceptance for usages various fields is also propelling the market growth.
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Factors Driving GRE Pipes Market Growth
On account of various benefits of using GRE pipes, these are considered to be lightly weighted as compared to steel pipes. However, GRE pipes are easy to handle, install and transport. Furthermore, GRE pipes are highly suitable for usages in the application where the environment is moist, salty, and marshy. GRE pipes have a longer service life due to which it is used as pressure as well as gravity pipeline for water, industrial flow, and seawater pipelines. Leading industries in which GRE pipes are highly required are petrochemical process lines, oil and gas systems, fire-fighting systems, offshore and onshore systems, chemical transport and others. Due to its high performing components and acute designed structure, the pipes are potentially used on cross country pipelines, sewage disposal systems, sea water intake & return lines in power plants across the globe.
Due to unique properties of GRE pipes such as high performer and cost-effective, these have driven the global GRE pipe market at a higher rate. The economic growth of oil-rich economies has also played a significant role in demands for these pipes in major industries. Mentioning the greater part, booming of water networks, oil &gas sector and petrochemical plants have also driven the growth of GRE pipes market.
With the rise in infrastructure development and increasing urbanization offers GRE pipe market growth opportunities in noteworthy ways.
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The global GRE pipes market is segmented based on end-user.
By end-user, the GRE pipes market is segmented into petrochemicals, oil & gas, power & energy, and other industries. The GRE pipes benefit these industries concerning transportation of crude oil, oil field application, petrochemicals, and refineries.
Geographical analysis of the global GRE pipes market includes the North Americans, Europe, APAC, Latin America, and Middle East & Africa.
North America is anticipated to lead the GRE pipes market. North America is one of the key exporters of crude oil has significant usage of GRE pipes owing to the ongoing developments in the oil field. The GRE pipes are mainly used for the transportation of crude oil and gas. This process is often introduced to increase oil production in every period.
Among others, the Middle East & Africa is an attractive region of the GRE pipes market. Europe is a fertile region for natural sources such as coal, oil & gas and other precious minerals. Industries are making significant investments for the development in the extraction of oil and gas, where GRE pipes support majorly in the process. Furthermore, infrastructure developments in the natural gas field are likely to create opportunities for the GRE pipes market in the coming years.
In India and China, the GRE pipes market is expected to drive forward due to an increasing number of usages in oil & gas, fuel, water, sewage, and chemical industry.
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GRE Pipes Market: Key Holders
The leading market players in the global GRE pipes market primarily are Pipex Limited (UK), Future Pipe Industries (India), Tamdid pipes (Saudi Arabia), Epp Composites Pvt. Ltd. (India), Acwapipe (Saudi Arabia), Smithline Reinforced Composites (UAE), National Oilwell Varco (US) and others
The global GRE pipes market has seen sluggish growth in many other industries, out of which, in industrial plants pipe systems the GRE pipe have been observed in usage majorly for circulating water, cooling systems, process piping, and firewater.