According to a market report by Lucintel, the future of the composites in the global oil and gas market looks promising with opportunities in pipes, tanks, pultruded products, and frac plugs and frac balls in the oil and gas industry. The composites in the global oil and gas market is expected to reach an estimated $6 billion by 2035 with a CAGR of 11% from 2025 to 2035. The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.
A more
than 150-page report to understand trends, opportunity and forecast in composites
in the global oil and gas market to 2035 by application (pipes, tanks,
pultruded products, frac plugs and frac balls, and other applications), resin
type (epoxy composites, polyester composites, phenolic composites, and
polyethylene composites), and region (North America, Europe, and Asia Pacific
& ROW).
Lucintel
forecasts pipe is expected to remain as the largest market by value and volume
consumption 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.
Epoxy
composites will remain the largest 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. Polyethylene composites is expected to witness highest
growth over the forecast period.
Download
sample by clicking on composites
in the global oil and gas market.
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.
Mattr
Infratech (Shawcor), Future Pipe Industries, National Oil well Varco (NOV), Hengrun
Group, Strongwell, Amiantit, Baker Hughes are the major suppliers in the composites in the global oil and gas
market.
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 write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
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.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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