Global composites in oil and gas industry market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the increasing oil and gas drilling and exploration activities coupled with rising demand for non-corrosive and lightweight materials in the oil & gas industry. Composites are made by a mixture of epoxy, phenolic, or polymer, or aramid fibres. These are mainly incorporated in materials used for construction to endure corrosion, fatigue, and weight. These composites have the advantage of low weight, corrosion resistance, inexpensive installation that support their application in oil & gas industry. Rising use of glass-fibre reinforced polymer composites in fire mains, dredging, chemical plants, etc. as they can endure extremely corrosive materials at high temperatures and provide better operational capabilities are expected to fuel the growth of the global composites in oil & gas industry. Moreover, rising demand for non-corrosive as well as light-weight material, especially in developing countries are expected to further propel the growth of the global composites in oil & gas industry market.
The global composites in oil & gas market is segmented on the basis of fibre type, resin type, application, and region. Based on resin type, the market has been categorised into epoxy resin, phenolic resins, polyester resin, and others. The epoxy resin-based oil & gas composites is projected to dominate the market during the forecast period due to increasing growth of the hydraulic fracturing to extract natural gas from shale gas deposits. Based on application, the market has been segmented into pipes, top side applications, tanks and others. Others includes frac plugs and frac balls, accumulator bottles, flexible tubes, composite riders, etc. The market of other segment is expected to dominate the market over the next five years due to growing innovations, growing advancements in the production activities of the oil & gas industry etc. APAC region is projected to dominate the market over the next five years owing to rising demand for superior properties and increasing partnerships, agreements & contracts in the region.
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Some of the leading players in the global composites in oil and gas industry market are GE Oil & Gas, Airborne Oil & Gas, Strong well Corporation, Enduro Composites Inc., Schlumberger Limited, Halliburton, ZCL Composites, Vello Nordic as, National Oilwell Varco, Magma Global Limited, etc.
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Attribute
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Details
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, CAGR for
2017-2021 and 2022-2027
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Report coverage
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Revenue Forecast, Volume Forecast, Company
Share, Competitive Landscape, Growth Factors, And Trends
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Segments covered
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By Fibre Type
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By Resin Type
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By Application
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Region scope
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Asia Pacific; Europe & CIS; North
America; South America; Middle East & Africa
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Country scope
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China, India, Japan, South Korea, Australia, Singapore,
Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico,
Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar
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Key companies profiled
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GE Oil & Gas, Airborne Oil &
Gas, Strong well Corporation, Enduro Composites Inc., Schlumberger Limited,
Halliburton, ZCL Composites, Vello Nordic as, National Oilwell Varco, Magma
Global Limited
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Customization scope
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10% free report customization with purchase.
Addition or alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the
editable version of the report in PPT/Word format on special request)
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