Composites in Oil & Gas Industry Market to experience an impressive growth of 5.4% during 2020-2025
January 30, 2020
Composites in Oil & Gas Industry Market is likely to witness an impressive CAGR of 5.4% during the forecast period. The major factors driving the demand for composites in the oil & gas industry are their superior properties such as lightweight, corrosion and chemical resistance, high mechanical strength, and low maintenance cost.
Click here to get a Free Sample of the report (with additional insights):
https://www.stratviewresearch.com/Request-Sample/664/composites-in-oil-&-gas-industry-market.html
Or
Read the summary of the Composites in Oil & Gas Industry Market Report here:
https://www.stratviewresearch.com/664/composites-in-oil-&-gas-industry-market.html
Composites in Oil & Gas Industry Market Segment Insights:
By Fiber Type:
Based on the fiber type, the market has been segmented as glass fiber composites and carbon fiber composites. The glass fiber composites segment dominated the market and is expected to maintain its position during the forecast period, owing to its usage in a wide range of applications, such as frac plugs, frac balls, handrails, ladders, tanks, and others. Further, the low cost of glass fiber composites along with their exceptional properties such as high mechanical strength, durability, flexibility, and lightweight are acting as a catalyst towards their increasing demand in the oil and gas industry.
By Resin Type:
Based on the resin type, the market is segmented as epoxy resin, polyester resin, phenolic resins, and others. The epoxy resin-based composite segment is expected to witness the highest growth during the forecast period. Increasing usage of hydraulic fracturing to extract natural gas from shale gas deposits has led to an increased usage of epoxy composites in applications, such as bridge plugs, frac plugs, frac balls, and pipes.
By Application Type:
Based on the application type, the market is segmented as pipes, tanks, top side applications, and others. The pipes segment is estimated to be the largest segment during the forecast period, owing to properties of composite pipes such as resistance to crude oil, paraffin build-up, and ability to withstand relatively high pressure in harsh operating environment.
By Region:
In terms of regions, Asia-Pacific is expected to witness the highest growth in the composites in oil & gas industry market during the forecast period, owing to the exceptional properties exhibited by composite materials in applications, such as pipes, tanks, top side applications, and others. North America and Europe are the other two major markets which are expected to witness substantial growth during the forecast period, owing to aging oil & gas transportation infrastructure and increasing focus towards unconventional sources of energy.
Key Players:
Some of the leading players operating in the composites in oil & gas industry are Airborne Oil & Gas BV, GE Oil & Gas, Magma Global Limited, National Oilwell Varco, Vello nordic AS, Schlumberger Limited, Halliburton Company, Strongwell Corporation, Enduro Composites, Inc., and ZCL Composites.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/664/composites-in-oil-&-gas-industry-market.html
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Click here for other high value market reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176