According to the recent study the composites in the oil and gas market is projected to reach an estimated $1.4 billion by 2026, at a CAGR of 6.5% from 2021 to 2026. Growth in this market is primarily driven by increasing oil and gas drilling and exploration activities in future.

Browse 98 figures / charts and 62 tables in this 194 -page report to understand trends, opportunities and forecast in composites in the oil and gas market by end use application (pipes, tanks, pultruded products, frac plugs and frac balls, and others), resin type (epoxy composites, polyester composites, phenolic composites, and polyethylene composites), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Epoxy composites market is expected to remain the highest growing segment during the forecast period.”  

Based on resin type, the composites in the oil and gas market are segmented into epoxy composites, polyester composites, phenolic composites, and polyethylene composites. Lucintel forecasts that the epoxy composites market is expected to be the highest growing segment over the forecast period supported by its high performance characteristics such as low shrinkage, excellent adhesion, effective electrical insulation, high chemical, and solvent resistance properties.

“Within the FRP panel market, the pipe segment is expected to remain the largest end use application”

Based on end use application, the pipe segment is expected to witness the largest end use application and it is also expected to experience the highest growth in the forecast period due to increases in oil and gas production and exploration activity on both onshore and offshore production sites have increased the demand for pipes are the major driving forces that spur the growth for this segment over the forecast period.

“North America will dominate the composites in the oil and gas market in near future”

North America is expected to be the largest region due to growth in natural gas infrastructure projects, and awareness on the advantages of composite materials for oil and gas over traditional material.

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Major players of composites in the oil and gas market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Owens corning, Jushi, CPIC, Nippon Electric Glass Co. Ltd., Huntsman, Hexion, and Olin Corporation are among the major composites in the oil and gas providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/trends,-opportunities-and-competitive-analysis-of--composites-in-the-oil-and-gas.aspx  or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
 

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