Europe Fiberglass Pipes Market Forecast to 2028 - Regional Analysis - by Resin Type (Polyester, Epoxy, Phenolic, and Others) and End-Use (Oil and Gas, Sewage, Chemicals, Agriculture, and Others)
The Europe fiberglass pipes market is expected to grow from US$ 948.11 million in 2022 to US$ 1,212.72 million by 2028. It is estimated to grow at a CAGR of 4.2 % from 2022 to 2028.
Increasing Installation of Oil & Gas Pipelines is Fuels Europe Fiberglass Pipes MarketFiberglass pipes are considered a reliable and cost-effective alternative to steel pipes for onshore and offshore corrosion control in the low to high-pressure oil & gas sector. The diverse range of pipeline applications in the sector include oil separation, enhanced oil recovery systems, oil production processes, transportation, and underground piping. The wide range of applications of fiberglass pipes such as fiberglass-reinforced epoxy pipes and fiberglass-reinforced polyester pipes can be attributed to its properties such as corrosion and pressure resistance, long service life, lightweight, high strength, nontoxic nature, and other mechanical properties.
The oil & gas industry is reporting increasing fuel demand due to rapid economic growth and rising oil utilization for applications such as feedstock and power generation. In 2021, Russia was among the top five largest energy producers and consumers in the world, producing 595.2 million tons of crude oil, of which 286.6 million tons were exported, according to the report published by Bruegel AISBL in 2023. The report also revealed that crude oil is exported by two main routes—pipeline and oil tanker at sea. According to the report released by Center for Eastern Studies in 2023, the government of Russia planned to boost the gas exports to China accounting for shipment of 98 billion cubic meters of gas per year, partially achieved through a planned Power of Siberia-2 pipeline, by 2030.
Russia is the top country with a significant number of proposed and in-development pipeline projects.
Europe Fiberglass Pipes Market OverviewThe Europe fiberglass pipes market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The increasing utilization of fiberglass pipes from various industries, including oil & gas, chemicals, and water & wastewater treatment, is propelling the market growth in Europe. According to the European Commission, the chemical industry represents ~7.5% of European Union manufacturing by turnover in the year 2018. The strong presence of the chemical industry in countries such as Germany, France, the UK, and Italy creates a huge demand for fiberglass pipes. According to the European Chemical Industry Council, AISBL, in 2022, Europe was the world's second-largest producer of chemical products. Germany is the largest producer of chemical products, followed by France, the UK, and Italy. In addition, the strong presence of major chemical manufacturers such as BASF SE and INEOS in the European region is expected to provide growth opportunities to the Europe fiberglass pipes market over the coming years. In addition, according to the European Commission, crude oil and petroleum products account for the largest share of gross inland energy consumption in the EU. Despite decreasing production and fluctuating consumption through the years, crude oil and its derived products still play a significant role in the Europe’s economy. In Norway, a key European non-EU crude oil producer, oil production increased from a record low of 70.0 Mt in 2019 to 87.4 Mt in 2021. Thus, the increasing consumption of oil and gas in Europe is further advancing the demand for transport mediums. For instance, in October 2022, Spain and France signed a new deal to build an underwater gas pipeline from Barcelona to Marseille. The pipeline will allow Spain and Portugal, two leading liquefied natural gas (LNG) importers, to transport their additional supplies to France and other European countries. Such government initiatives and the growing chemical industry are a few factors driving the fiberglass pipes market growth in the region.
Europe Fiberglass Pipes Market Revenue and Forecast to 2028 (US$ Million)
Europe Fiberglass Pipes Market SegmentationThe Europe fiberglass pipes market is segmented into resin type, end use, and country.
Based on resin type, the Europe fiberglass pipes market is segmented into polyester, epoxy, phenolic, and others. The polyester segment held a largest Europe fiberglass pipes market share in 2022.
Based on end use, the Europe fiberglass pipes market is segmented into oil and gas, sewage, chemicals, agriculture, and others. The oil and gas segment held the largest Europe fiberglass pipes market share in 2022.
Based on country, the Europe fiberglass pipes market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe fiberglass pipes market in 2022.
Amiblu Holding GmbH, EPP Composites Pvt Ltd, Future Pipe Industries LLC, Gruppo Sarplast Srl, Kurotec-KTS GmbH, Kuzeyboru AS, Lianyungang Zhongfu Lianzhong Composites Group Co Ltd, NOV Inc, Plasticon Germany GmbH, Poly Plast Chemi Plants (I) Pvt Ltd, Saudi Arabian Amiantit Co, and Sunrise Industries (India) Ltd are some of the leading companies operating in the Europe fiberglass pipes market.
Reasons to BuySave and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe fiberglass pipes market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe fiberglass pipes market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the fiberglass pipes market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution