GRE Pipe Consumption Value Is Expected To Increase At A CAGR Of Around 5.4% During The Period Of 2022-2032

Posted on 2022-11-01 by Fact.MR in Chemicals // 0 Comments

Over the past half-decade, the oil & gas industry has provided impetus to the GRE pipes and fittings market on the back of constant debottlenecking of cost loopholes. Moreover, with glass reinforced epoxy pipes being lighter and having lower maintenance cost as compared to that of SSP (seamless steel pipes), it has also propelled market growth over the same period at a CAGR of 4.3%.

Additionally, consumption of GRE pipes in 2021 stood at around 557 kilotons. Glass reinforced epoxy pipe consumption in the oil & gas sector accounted for a prominent market share attributed to extensive utilization in oil fields for brine transmission and desalination, oil & gas transmission, and offshore cooling water & drainage, among others.

Over the past half-decade, despite a slowdown in the demand for pipes, GRE pipes and fittings have observed a take-off due to increasing oil & gas projects and the need for sustainable pipes for oil & gas transportation. This surge was observed across regions with rampant oil & gas projects, especially in GCC countries and the United States.

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Why is the Oil & Gas Sector Anticipated to Remain the Backbone of the GRE Pipes Market?

Oil & gas has remained the backbone of glass reinforced epoxy pipe demand growth over the past half-decade. This integration and dependency of GRE pipes for various applications such as brine transmission and desalination, oil & gas transmission, and offshore cooling water & drainage is due to lower pipe maintenance cost and optimum output, coupled with lower loss of pressure. These factors have collectively driven demand for GRE pipes in oil field applications at a CAGR of 4% over the period of 2017-2021.

Additionally, the current outlook on the replacement of existing steel pipes with GRE pipes, as the former need extensive coating and periodical maintenance, impacts the cost coupled with lower output. This has pushed manufacturers of GRE pipes to look into avenues that can bolster the integration of these pipes in the oil & gas industry.

Furthermore, surge in oil & gas prices across the globe on the back of the Ukraine-Russia conflict is pushing oil & gas suppliers to maintain the price points at the cost of margins. This impact is anticipated to drive oil giants to look into the bottlenecks of oil supply and capital utilization, paving the way for the integration of GRE pipes.

This factor is anticipated to provide a push to the market for glass reinforced epoxy pipes at a CAGR of 5.4% over the forecast period.

How are Water Treatment Projects Anticipated to Act as a Workhorse for GRE Pipe Suppliers?

Water and wastewater treatment has become a prime cause of concern across regions on the back of rise in awareness about water security, thus enhancing government spending on water and wastewater treatment projects, cascading the effect to GRE pipe demand growth in water treatment applications at a CAGR of 6.2% over 2017-2021.

Over the forecast period, rise in the integration of GRE pipes coupled with increase in water treatment projects will provide an absolute dollar opportunity of US$ 169 Mn.

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Competition Landscape

Key manufacturers of glass reinforced epoxy pipes are Advancedpiping, Amerplastics, Future Pipe Industry, GRE Composites, Hengrun Group Co., Ltd, Kemrock Industry, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd, National Oilwell Varco, NOV Fiber Glass Systems, Saudi Arabian Amiantit Co., Shawcor Ltd., Smithlinecomposites, and Tamdidpipes.

GRE pipe suppliers are constantly inclining towards cost optimization and analysing the responses of consumers in oil & gas and water treatment for positioning themselves on the strong parts of the technological curve.

Moreover, rising investments in R&D for the development of high-pressure and temperature-resilient GRE pipes can be observed as a key trend among tier-1 glass reinforced epoxy pipe manufacturers.

Fact.MR has provided detailed information about the price points of top GRE pipe manufacturers positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.

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Key Segments of GRE Pipes Industry Survey

GRE Pipes Market by Pressure (Barg):

10-20 GRE Pipes
20-30 GRE Pipes
30-40 GRE Pipes
40-50 GRE Pipes
>50 GRE Pipes

GRE Pipes Market by Diameter (mm):

25-100 GRE Pipes
100-250 GRE Pipes
250-500 GRE Pipes
500-750 GRE Pipes
750-1000 GRE Pipes
1000-1200 GRE Pipes
>1200 GRE Pipes

GRE Pipes Market by Application:

Oil Fields
Brine Transmission and Desalination
Oil & Gas Transmission
Offshore Cooling Water and Drainage
Fire Water/Fire Protection Pipes
Others
Chemical/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 Wastewater Pipe Lines
Others
Mining Industry

GRE Pipes Market by Region:

North America GRE Pipes Market
Latin America GRE Pipes Market
Europe GRE Pipes Market
East Asia GRE Pipes Market
South Asia & Oceania GRE Pipes Market
Middle East & Africa GRE Pipes Market

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Why is the Oil & Gas Sector Anticipated to Remain the Backbone of the GRE Pipes Market?

How are Water Treatment Projects Anticipated to Act as a Workhorse for GRE Pipe Suppliers?

Competition Landscape

Key Segments of GRE Pipes Industry Survey

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