Agreements and Acquisitions are the Key Development Strategies Adopted by the Leading Players in the Global Fiberglass Pipes Market
The use of fiberglass pipes is becoming crucial in the sewage and chemicals applications due to the increase in demand for high strength, corrosion resistant, easy to install, and lightweight materials. The fiberglass pipes market is projected to reach USD 4.11 Billion by 2021, growing at a CAGR of 5.22% from 2016 to 2021.
The key companies have mainly been involved in agreements and acquisitions to strengthen their positions in the fiberglass pipes market between 2011 and 2016. The companies have adopted these strategies to expand their product portfolios, strengthen their presence in the developed and emerging countries, increase their market shares, and enhance their sustainability.
Between 2011 and 2016, agreements and acquisitions accounted for 47% and 35% respectively of all the strategies adopted by the players in the fiberglass pipes market.
he major manufacturers profiled in this report are Future Pipe Industries (UAE), National Oilwell Varco (U.S.), Hobas (Austria), Saudi Arabian Amiantit Co. (Saudi Arabia), Enduro Composites Inc. (U.S.), Graphite India Limited (India), and others. These companies have adopted various organic and inorganic growth strategies such as new product developments, agreements, acquisitions, and expansions to expand their global presence and increase their penetration in the Fiberglass pipes market.
Future Pipe Industries, Hobas, Saudi Arabian Amiantit Co., and National Oilwell Varco are some of the major companies that have adopted the maximum number of growth strategies between 2011 and 2016 in the fiberglass pipes market.
Future Pipe Industries is one of the major manufacturers of fiberglass pipes for applications including aerospace and industrial. The company accounted for the largest share of all the development activities undertaken in the global fiberglass pipes market between 2011 and 2016. The company follows dynamic growth strategies with acquisitions and agreements to strengthen its geographical presence, product portfolio, and customer base. For instance, in April 2013, Future Pipe Industries acquired Specialty Plastics, Inc. (SPI). This acquisition helped FPI to enhance its existing manufacturing and sales operations in the U.S. market and to increase its reach and presence, mainly targeting the oil & gas application in the North American region.
Hobas is one of the leading providers of fiberglass pipes for sewage, chemicals, and other applications. The company is focused on agreements and new product launches to cater to the high demand for fiberglass pipes in various applications. For instance, in April 2015, Hobas signed a supply agreement with McNally Construction Inc. Under the agreement, Hobas supplied fiberglass pipes under the sizes range from 18 to 126 inches for use in the Upper Centennial Trunk Sewer Tunnel Project in Hamilton, Canada. This approach helped the company to increase its sales and opportunities in the Canadian fiberglass pipes market.
Related Reports:
Fiberglass Pipes Market by Type (GRP, GRE), Fiber (E-Glass, T-glass), Application (Oil & Gas, Chemicals, Sewage, Irrigation), and Region - Global Forecast to 2021
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