The global demand for Composites in Oil & Gas Industry Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Composites in the oil & gas industry are composed of a blend of diverse materials in a matrix. Composites are utilized in the oil and gas industry because of their unique qualities, like lightweight, corrosion resistance, and ease of installation, making them ideal for demanding applications. They benefit from being light, which eliminates the need for vast and expensive buoyancy tanks. The most common composites are constructed with glass fibres, carbon fibres, or aramid fibres in epoxy, phenolic, or polymer (polyethylene, polyvinyl-dienefluoride, and polyamide) matrix.
Market Dynamics
In the fields of composite pipework and fluid handling, significant progress has been made. A primary driver for the industry is cost savings from composites replacing steel piping in retrofit applications. Cost savings are achieved when composites are utilized instead of expensive corrosion-resistant metals in the manufacture of risers, tubings, and storage and transport systems in offshore platforms. Another significant market driver is the increased durability of new, dependable, safe, and cost-effective buildings that can endure the harsh circumstances expected in an offshore environment.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of composites in oil & gas industry. The growth and trends of composites in oil & gas industry industry provide a holistic approach to this study.
Market Segmentation
This section of the composites in oil & gas industry market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Resin Type
- Epoxy
- Polyester
- Phenolic
- Others
By Fiber Type
By Application
- Pipes
- Tanks
- Top Side Applications
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Composites in Oil & Gas Industry market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Composites in Oil & Gas Industry Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the composites in oil & gas industry market include 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.), and ZCL Composite (Canada) and others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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