A composite refers to material made by combining two or more constituent elements with different physical and chemical properties. Composites in the oil & gas industry market are referred to as enabling technology under deepwater drilling conditions. These composites are used because of their ability to stand harsh subsea environment conditions. These composites are light in weight, therefore, eliminates the need for large and exorbitant buoyancy tanks. Composites in the oil and gas industry are inexpensive and corrosion resistant.
MARKET DYNAMICS
An increase in the manufacture of shale gas and improved hydraulic fracturing method drives the growth of the composites in the oil &gas industry market. An upsurge in demand for non-corrosive and lightweight materials in the oil & gas industry also stimulates the growth of the market. However, fluctuating prices of raw materials and the availability of low-cost substitutes restrict the growth of composites in the oil & gas industry market. Composites replacing steel piping in backport applications are expected to boost the growth of composites in the oil & gas industry market in the near future..
MARKET SCOPE
The "Global Composite in Oil and Gas Industry Analysis to 2028" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the composites in oil and gas industry market with detailed market segmentation by fiber type, resin type, application and geography. The global composites in oil and gas industry market are expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading composites in oil and gas industry market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global composites in oil and gas industry market are segmented on the basis of fiber type, resin type and application. On the basis of fiber type, the composites in oil and gas industry market is segmented into glass fiber composites and carbon fiber composites. On the basis of resin type the composites in oil and gas industry market is broken into epoxy resin, polyester resin, phenolic resins and others. As per application the market is bifurcated into pipes, tanks, top side applications and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global composites in oil and gas industry market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The composites in oil and gas industry market by each region are later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the composites in oil and gas industry market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the composites in oil and gas industry market in these regions.
MARKET PLAYERS
The reports cover key developments in the composites in oil and gas industry market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from composites in oil and gas industry market are anticipated to lucrative growth opportunities in the future with the rising demand for composites in oil and gas industry market in the global market. Below mentioned is the list of few companies engaged in the composites in oil and gas industry market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the food binders. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Airborne Oil & Gas B.V.
- CIP Composites
- Enduro Composites, Inc.
- GE Oil & Gas
- National Oilwell Varco
- Pipex Ltd.
- Schlumberger
- Strongwell Corporation
- Vello Nordic AS
- ZCL Composites
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.