The global fiberglass pipes market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio
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Technavio has published a new market research report on the global fiberglass pipes market from 2018-2022. (Graphic: Business Wire)
The report presents a comprehensive research of the global fiberglass pipes market by end-user that includes oil and gas, chemical, and irrigation and sewage. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: advantages of fiberglass pipes over other materials
The use of fiberglass pipes is preferred over other materials such as PVC and steel due to its excellent characteristics such as corrosion, weather, and encrustation resistance. The fiberglass pipes hold smooth bore, resulting in lower resistance and erosion, and do not have welds or joints due to which the risk of cracks and punctures is reduced.
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Market trend: continuous advances in production technology
The technologies implemented in the production of fiberglass pipes undergo development every year. This has increased the adoption of computer-aided designing (CAD) method combined with the manufacturing processes. For instance, the vendors had adopted continuous filament binding along with dual helical filament binding since the last one decade, which aimed at reducing the lead time and increasing the quality of the fiberglass pipe.
According to a senior analyst at Technavio for plastics, polymers, and elastomers research, "The dual helical filament binding process involves the use of two-axis machines, including spindle rotation and horizontal carriage, winding the pre-stressedglass fiber filament continuously with a matrix resin. Additionally, the advances in technology have resulted in the implementation of four-axis helical winding that involves the use of four-axis machines leading to the cross-feed winding of fiberglass."
Market challenge: increased investment and technical challenges for deepwater exploration
Offshore exploration activity requires high capital investment, and the risk associated with the offshore projects are higher when compared with that of the onshore projects. Though drilling technological advances have made new areas accessible, deep water and ultra-deepwater projects require more capital investment and time compared to that of onshore developments. Moreover, the production of natural gas in the US has become less profitable due to the increase in the production of onshore shale gas.
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