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    GRE Pipe Market | Covid-19 Impact Analysis

    GRE Pipe Market | Covid-19 Impact Analysis

    GRE Pipe Market | Covid-19 Impact Analysis
    Report code - SRAM415 Published On : Sep,2020 No. of Pages: 225
    GRE (Glass Fiber-Reinforced Epoxy) Pipe Market by Application Type (Oil & Gas [Gatheri See more...
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    Impact of COVID-19 on GRE Pipe Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on GRE Pipe Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s GRE pipe market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for GRE pipes at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.

    GRE Pipe Market: Overview

    Glass fiber-reinforced epoxy (GRE) pipe consists of epoxy resin as a polymer matrix and glass fiber as reinforcement. GRE pipes are majorly used for medium-to-high-pressure oilfield and industrial applications that are operating in harsh environments, such as exposure to corrosive or chemically aggressive fluids or gases. GRE pipes are highly resistant to corrosion, caused by saltwater, chemicals, residues, and bacteria.

    GRE pipes weigh only a quarter to an eighth of steel pipes and are easy to install without the need for heavy installation equipment, welding, or protective coating. Installation cost is also lesser than that of carbon steel. Operating costs are also lower in the wake of the requirement of lesser energy to pump fluid through the smooth internal bore. Among different resin systems used in FRP pipes, epoxy pipe is one of the fastest-growing product types with increasing acceptance in the oil & gas and marine & offshore applications.

    Impact of COVID-19 on the GRE Pipe Market

    GRE Pipe, a high-performance product of the entire FRP pipe family, is no exception with registering a severe downfall in the demand across regions. The pandemic has exacerbated the market conditions with a significant plunge in oil demand, compelling oil companies to cease their future investments including the installation of pipes. Similar market conditions are recorded in other GRE markets including marine & offshore.

    Based on primary interviews across the value chain of the GRE pipe market as well as a rigorous study of previous downturns, Stratview Research concluded that the GRE pipe market will log a tick-shaped recovery with deeper recovery curves than previous downturns, such as SARS (2003) and MERS (2015). The demand for GRE pipes is anticipated to be plateaued in 2021 followed by a quick market rebound, maintaining its growth momentum till 2026, ultimately driving the market to reach the landmark figure of US$ 1.7 billion by 2026.

    GRE Pipe Market Share Analysis

    Oil & Gas to Remains the Biggest Demand Generator for GRE Pipes.

    Based on the application type, the market is segmented as oil & gas, industrial, water/wastewater, and marine & offshore. The oil & gas application is further segmented into gathering lines & water injection, downhole tubing, transmission lines, and others. Similarly, marine & offshore is into marine and offshore. Oil & gas is estimated to remain the most dominant market for GRE pipes in the foreseen future. Also, in the post-pandemic scenario, this application segment is subjected to rebound with the healthiest pace with the recovery in the demand for oil & gas. Gathering lines & water injection and transmission lines are the major demand generators GRE pipes in the oil & gas industry.

    Also, in the offshore platform, GRE pipes are continuously replacing metal pipes in drilling rig and FPSO because of severe corrosion and associated maintenance cost saving of two-to-three times than steel pipes. GRE pipes are lighter in weight, cost-effective, and require low periodical maintenance than traditionally used pipes. They provide corrosion- and erosion-free operations during their service life.

    Unlike Polyester, which is Dominant in Large Diameter, GRE Pipes are Becoming an Apple of Eye in <10” Diameter Pipes

    Based on the diameter type, the market is segmented as <10-inch diameter pipe, 10-18-inch diameter pipe, and >18-inch diameter pipe. <10-inch diameter pipe is estimated to remain the hot spot for GRE pipes in the future. GRE pipes are gradually replacing metal pipes in oil & gas applications, such as water injection, gathering lines, and transmission lines as well as in marine & offshore applications. GRE pipes are mainly facing some heat from spoolable pipes (reinforced thermoplastic pipe).

    Filament Winding is the Most Dominant Manufacturing Process Type

    Based on the manufacturing process type, the market is classified as filament winding, centrifugal casting, and others. Filament winding remains the pivotal choice of the manufacturing process in the GRE pipe market. The process type is also dominant in the overall FRP pipes market. Filament winding GRE pipes can meet the extreme environment requirements with the ability to withstand pressure over 200 bars and temperature above 100-degree Celsius. Most of the GRE pipes are manufactured using the helical filament winding process.

    North America Will Maintain its Leading Position in the Foreseen Future.

    In terms of region, North America is estimated to maintain its leading position in the global market in the coming five years, primarily because of the presence of high technically recoverable reserves of shale oil & gas and the presence of major GRE pipe manufacturers in the region. The COVID-19 outbreak disrupted the region’s supply-demand dynamics with significant lesser oil demand, which, in turn, reducing the exploration and production expenditure in 2020.

    In the post-pandemic market scenario, Asia-Pacific is likely to grow at the highest rate and is subjected to substantially mitigate the gap with the North American market by 2026. China alone accounts for almost half of the Asian GRE pipes market with the presence of several Chinese players manufacturing GRE pipes for local as well as export purposes. India is currently a petite market in front of mammoths the USA and China but exhibits good growth potentials in the coming years. The country has the presence of a large number of FRP pipe manufacturers with most of them having no certification for GRE pipes manufacturing. Very few companies so far achieved this feat in India.

    Key Players

    The supply chain of this market comprises raw material suppliers, GRE pipe manufacturers, and end-use industries. The key players in the market are Abu Dhabi Pipe Factory LLC, Amiantit Fiberglass Industries Limited, Daqing Harvest Longwall High Pressure FRP Co., Ltd., Future Pipe Industries, HOVOY Composite, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd., National Oilwell Varco, and SUZHOU JIUMEI FIBER GLASS Co, Ltd.

    The GRE pipe market is specialized in the requirements of excellent product development capabilities and a large number of certificates. Out of several FRP pipe producers, some companies have the capability of manufacturing GRE pipes and supply to the oil & gas and marine & offshore applications. There is a greater consolidation in the GRE pipe market than the FRP pipe market.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all three countries and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market Regional Trend and Forecast analysis
    • Market segment Regional Trend and Forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    The GRE pipe market is segmented into the following categories.

    GRE Pipe Market, By Application Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Gathering Lines & Water Injection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Downhole Tubing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Transmission Lines (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Water/Wastewater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine & Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    GRE Pipe Market, By Diameter Type

    •  <10” Diameter Pipe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 10”-18” Diameter Pipe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >18” Diameter Pipe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    GRE Pipe Market, By Manufacturing Process Type

    • Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Centrifugal Casting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    GRE Pipe Market, By Pressure Rating Type

    • <150 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 150-300 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >300 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    GRE Pipe Market, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Malaysia, and Rest of Asia-Pacific)
    • The Middle East (Country Analysis: Saudi Arabia, the UAE, Oman, Qatar, and Rest of the Middle East)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the resin types by application type

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, Region presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].


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