Composites in oil & gas industry is driven by increase in production of shale gas and improved hydraulic fracturing methods, thereby increasing demand of composites pipes, risers, jumpers, flow line. This is because these composite components offers complete solutions against highly corrosive fluids and harsh environment conditions at various temperature, pressure, adverse weather, and soil conditions.
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Composites in Oil and Gas Industry are projected to reach USD 1.98 billion by 2021, registering a CAGR of 5.05% between 2016 and 2021. The increasing demand of non-corrosive and lightweight materials in the oil & gas industry along with long life cycle and low maintenance cost of composites are the major factors fueling the growth of the global market of composites in oil & gas industry.
Key Target Audience
- Oil & gas composite manufacturers
- Raw materials suppliers
- Distributors and suppliers
- End-use industries
- Industry associations
- R&D institutions
- Environment support agencies
- Investment banks
- Private equity firms
North America is the largest and fastest-growing market of composites in oil & gas industry.
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The rising demand for high-performance and lightweight materials and increasing new product launches & other development strategies in the region lead to the growth of the market of composites in oil & gas industry in this region.
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This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (35%); Tier 2 (25%) and other (40%) companies were contacted for interviews.
The interviews were conducted with various key people such as C-level (30%), Director level (25%), Others (45%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (35%), Europe (30%), Asia-Pacific (20%), and RoW (Middle East & Africa and Latin America) (15%).
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1 Market Size of Composites in Oil & Gas Industry, in Terms of Value, 2016–2021
2 Market of Composites in Oil & Gas Industry, By Resin Type
3 Market of Composites in Oil & Gas Industry
4 Market Share (Value), By Country
5 Market Size of Composites in Oil & Gas Industry, By Fiber Type
6 Market Size of Composites in Oil & Gas Industry, By Application
As a part of qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players such as Airborne Oil & Gas (Netherlands), GE Oil & Gas (U.K.), Magma Global Limited (U.K.), National Oilwell Varco (U.S.), Vello Nordic AS (Norway), Schlumberger Limited (U.S.), Halliburton (U.S.), Strongwell Corporation (U.S.), Enduro Composites, Inc.
(U.S.), ZCL Composite (Canada).
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Scope of the Report:
This research report categorizes the oil & gas composites market based on resin type, fiber type, application, and region. Also, forecasts revenue growth and analysis of trends in each of the submarkets.
The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
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