According to the recent study the composites in the oil and gas market is projected to reach an estimated $3.2 billion by 2028 from $2 billion in 2022, at a CAGR of 7.6% from 2022 to 2028. 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
(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, and Asia Pacific
& ROW).
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on below link
https://www.lucintel.com/composites-in-oil-and-gas-market.aspx
“Pipes market is expected to remain the
largest segment during the forecast period.”
Based on end use, the composites
in the oil and gas market is segmented into pipes, tanks, pultruded products,
frac plugs and frac balls, and others. Lucintel forecasts that the pipes market
is expected to remain the largest segment 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.
“Within the composites in the oil and gas market, the epoxy
composites segment is expected to remain the largest resin type.”
Based on resin type the
epoxy composites segment is expected to witness the highest growth over the
forecast period due to its high performance characteristics such as low
shrinkage, excellent adhesion, effective electrical insulation, high chemical,
and solvent resistance properties.
“North America will dominate the composites in the oil and gas
market in near future.”
North America will
remain the largest market over the forecast period due to growth in natural gas
infrastructure projects, and awareness on the advantages of composite materials
for oil and gas over traditional material. ROW is expected to witness highest
growth over the forecast period.
Download Brochure of this report by clicking on https://www.lucintel.com/composites-in-oil-and-gas-market.aspx.
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 Group Co. Ltd, CPIC, Nippon Electric Glass Co. Ltd, Olin
Corporation, Hexion Inc, Polynt Reichhold, Ashland, Sumitomo Bakelite, Future
Pipes Industries, National Oilwell Varco (NOV), Hengrun Group Co. Ltd, Hobas
Pipe, Amiantit, ZCL Composite Inc. 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/composites-in-oil-and-gas-market.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:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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