Materials & Chemicals Market Research News

New report shares details about the composites in oil and gas market forecast to 2022

New report shares details about the composites in oil and gas market forecast to 2022

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.

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Composites are used due to their unique properties, which make them suitable for demanding applications in the oil & gas industry. They have the advantage of being low in weight, which eliminates the need for large and exorbitant buoyancy tanks.

Composites are inexpensive to install, extremely corrosion-resistant, and well-suited to increased operating pressures.

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Composites are made by matrix combination of different materials.

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The most commonly used composites are formed by combining epoxy, phenolic, or polymer (polyethylene, poly-vinyl-denefluoride, and polyamide) matrix with glass fibers, carbon fibers, or aramid fibers.

Glass-fiber reinforced polymer (GFRP) composites are used in piping systems for applications such as oil exploration, desalination, chemical plants, fire mains, dredging, and portable water. They enable the piping systems to withstand highly corrosive fluids at various temperatures, pressures, and in adverse weather and soil conditions.

Composite grinds/gratings perform better than traditional, metallic grinds/gratings, due to their superior properties under harsh environments in the chemical process industry. They are preferred due to their ability to overcome limitations with respect to weight, corrosion resistance, durability, and lifecycle costs.

During the construction of a riser (a pipeline that connects the rig of water surface to the well bore at seabed), thermoplastic polymer matrix reinforced with glass or carbon fibers is used. This matrix is wound around its steel reinforcement, which drastically reduces its weight.

In some cases, epoxy matrix reinforced with carbon fibers may be used. 

There has been major advances in the fields of composite pipe work and fluid handling. Cost-cutting due to composites replacing steel piping in retrofit applications is a major driver for the market.

Cost advantage can also be witnessed during the manufacturing process of risers, tubings, and storage and transport systems in offshore platforms when composites are used in place of expensive corrosion-resistant metals. Another important propellant for the market is amplified longevity of new, reliable, safe, and cost-effective construction, which can withstand severe conditions anticipated in an offshore environment.

Key players operating in the composites in oil and gas market include Creative Composites Ltd., National Composites Center, Pipex Limited, and Solent Composite Systems Ltd., CIP Composites, Magnum Oil Tools, Forum Energy Technologies, GE Oil & Gas, and Magma Global Limited.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Geographically, this report is segmented into several key Regions, with production, consumption, revenue, market share and growth rate of Composites in Oil and Gas in these regions, from 2012 to 2022 (forecast), covering
North America
Europe
China
Japan
Southeast Asia
India
South America
Middle East and Africa

On the basis of product, the Composites in Oil and Gas market is primarily split into
Epoxy
Polyester
Phenolic

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