Close Lucintel Chat
Didn't Find What You're Looking for?
Call us at +1972 636 5056 or write at helpdesk@Lucintel.com
Ask an Expert Provide Custom Requirements Download Sample Report Search Available Reports
  • helpdesk@Lucintel.com
  • |
  • Call Lucintel +1 972 636 5056
  • |
  • Login
  • |
  • Register
  • |
  • Search
  • |
'
...

The Impact of COVID-19 is included in Composites Oil and Gas Market. Buy it today to get an advantage.

Request the impact of COVID-19 on your product or industry


Composites in the Global Oil and Gas Industry Trends and Forecast

The future of the composites products such as pipes, tanks, pultruded products, and frac plugs and frac balls in the oil and gas industry looks promising with opportunities pipes, tanks, pultruded products, frac plugs and frac balls end uses. The global composite tooling material market is expected to reach an estimated $4 million by 2030 with a CAGR of 13% from 2023 to 2030. The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.
  • 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.
  • 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.
 
Composites in Oil and Gas Industry by End Use, and Resin Type

North America will remain the largest market in the  Global Oil and Gas Industry

  1. United States: Companies like Baker Hughes and Halliburton are investing in advanced composite materials to enhance the durability and performance of drilling and production equipment. The US government's push for technological innovation in energy production supports these developments. 
  2. China: Chinese firms such as CNPC and Sinopec are focusing on integrating composite materials to improve pipeline and storage tank efficiency. Government initiatives to modernize infrastructure and reduce environmental impact drive market growth.
  3. Norway: Companies like Aker Solutions and TechnipFMC are developing composite-based subsea systems to withstand harsh marine environments. The Norwegian government’s emphasis on sustainable and innovative oil extraction techniques boosts these initiatives.
  4. Saudi Arabia: Firms such as Saudi Aramco are investing in composite materials for pipelines and storage tanks to enhance operational efficiency and safety. Government projects under Vision 2030, aiming at infrastructure modernization, are significant drivers.
  5. United Kingdom: Companies like BP and Shell are integrating advanced composites to improve the reliability and performance of offshore and onshore equipment. UK government initiatives to promote technological advancements in the oil and gas sector support these developments.

Emerging Trends in Composites in the Global Oil and Gas Industry

Emerging trends, which have a direct impact on the dynamics of the industry, are the emergence of introduction of carbon fiber for composites application in the oil and gas industry, on-site construction of FRP pipes to any length and diameter, and increasing demand for high temperature and pressure RTPs.
A total of 98 figures / charts and 62 tables are provided in this 194-page report to help in your business decisions. A sample figure with insights is shown below.
 
Composites in Oil and Gas Industry by Segments

Composites in the Global Oil and Gas Industry by Segment

The study includes a forecast for the composites in the oil and gas by end use, resin type, and region as follows:

Composites in the Oil and Gas Industry by End Use [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

Composites in the Oil and Gas Industry by Resin Type [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]

Composites in the Oil and Gas Industry by Region [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

  • North America
  • Europe
  • Asia Pacific
  • Rest Of the World

List of Composites in the Global Oil and Gas Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites in the oil and gas companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites in the oil and gas companies profiled in this report include.
  • Mattr Infratech
  • Future Pipe Industries
  • National Oilwell Varco (NOV)
  • Hengrun Group 
  • Strongwell
  • Amiantit
  • Baker Hughes

Recent Development in the Composites in the Global Oil and Gas Industry 

  • Advancements in Composite Materials: Recent developments in composite materials technology have led to the introduction of advanced composite materials with improved mechanical properties, corrosion resistance, and durability. These advancements are particularly significant for applications in the oil and gas industry, where harsh operating conditions demand high-performance materials. 
  • Increasing Use in Offshore Applications: Composites are increasingly being used in offshore oil and gas operations for various applications, including subsea structures, risers, pipelines, and platform components. The lightweight and corrosion-resistant properties of composites make them attractive for offshore installations, where weight reduction and resistance to harsh marine environments are critical factors. 
  • Focus on Cost Reduction and Efficiency: With continued pressure to reduce costs and improve operational efficiency in the oil and gas sector, there's a growing interest in composites as a cost-effective alternative to traditional materials like steel. Composite materials offer advantages such as reduced installation and maintenance costs, extended service life, and improved asset performance, contributing to overall cost savings for operators.
  • Integration of Composite Technologies: Companies in the oil and gas sector are increasingly integrating composite technologies into their operations through partnerships, collaborations, and technology transfer agreements with composite material suppliers and manufacturers. These partnerships facilitate the development of customized composite solutions tailored to the specific needs and challenges of the oil and gas industry.
  • Emphasis on Safety and Environmental Compliance: Safety and environmental considerations play a crucial role in the adoption of composite materials in the oil and gas industry. Composites offer advantages such as non-conductivity, fire resistance, and resistance to chemical corrosion, making them suitable for applications where safety and environmental compliance are paramount.

Composites in the Global Oil and Gas Industry

  • Market Size Estimates: Composites in the oil and gas industry market size estimation in terms of value ($M) and Volume (M lbs)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Market size by end use, resin type, and region.
  • Regional Analysis: Composites in the oil and gas industry breakdown by North America, Europe, and Asia Pacific & the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different end use, resin type, and regions for composites in the oil and gas industry.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites in the oil and gas industry.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model. 

FAQ

Q1. What is the composite in the oil and gas industry size?
Answer: The composites in the global oil and gas industry is expected to reach an estimated to $861 million by 2030.         
Q2. What is the growth forecast for composites in the oil and gas industry?
Answer: The composite in the global oil and gas industry is expected to grow at a CAGR of 6% from 2023 to 2030.         
Q3. What are the major drivers influencing the growth of the composites in the oil and gas industry?
Answer: The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.    
Q4. What are the major applications or end use industries composites in the oil and gas?
Answer:  Pipes and tanks are the major end uses for composites in the global oiland gas industry.         
Q5. What are the emerging trends of composites in the oil and gas industry?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, are the emergence of introduction of carbon fiber for composites application in the oil and gas industry, on-site construction of FRP pipes to any length and diameter, and increasing demand for high temperature and pressure RTPs.
Q6. Who are the composites in the oil and gas companies?
Answer: Some of the key composites in the global oil and gas companies are as follows:
  • Mattr Infratech
  • Future Pipe Industries
  • National Oilwell Varco (NOV)
  • Hengrun Group 
  • Strongwell
  • Amiantit
  • Baker Hughes
Q7.Which composite in oil and gas resin type segment will be the largest in future?
Answer: Lucintel forecasts that epoxy composite resin type composites in the global oil and gas will remain the largest segment.
Q8: In composite in oil and gas, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and witness the highest growth over next 5 years. 
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for composites in the oil and gas industry 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 & Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

For any questions related to composites in the oil and gas industry or related to composites in the oil and gas industry share, composites in the oil and gas industry analysis, composites in the oil and gas industry size, composites suppliers in the oil and gas industry, and composites applications in the oil and gas industry, write to Lucintel analysts at helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
 
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecast
3.2:  Composites Tooling Market Trends and Forecast
3.3:  Composites Tooling Market by End Use
3.3.1: Transportation
3.3.2: Marine
3.3.3: Wind Energy
3.3.4: Aerospace
3.3.5: Construction
3.3.6: Consumer Goods
3.3.7: Others
3.4: Composites Materials in  Tooling Market by Material Form 
3.5: Composites Materials in  Tooling Market by Raw Material
3.5.1: Composites Materials in  Tooling Market by Fiber 
3.5.2: Composites Materials in  Tooling Market by Resin
 
4. Market Trends and Forecast Analysis by Region
4.1: Composites Materials in  Tooling Market by Region
4.2: North American Composites Materials in Tooling Market
4.3: European Composites Materials in Tooling Market
4.4: APAC Composites Materials in Tooling Market
4.5: ROW Composites Materials in Tooling Market
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Composites Materials in  Tooling Market by End Use
6.1.2: Growth Opportunities for the Composites Materials in  Tooling Market by Region
6.2: Emerging Trends in the Composites Materials in  Tooling Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Mergers, Acquisitions, and Joint Ventures in the Composites Materials in  Tooling Market 
 
7. Company Profiles of Leading Players
7.1: Toray Industries Inc.
7.2: Hexcel Corporation
7.3: Trelleborg AB
7.4: Cytec Solvay Group
7.5: Airtech Advanced Materials Group

.

Buy full report or by chapter as follows

Price by License Type:
[-] Hide Chapter Details
[Chapter Number] [Chapter Name] [Chapter Number Of Pages] [Chapter Price]
Title/Chapter Name Pages Price
Full Report: Composites in the Oil and Gas Market: Trends, Opportunities and Competitive Analysis [2024-2030] Full Report $ 4,850
98 figures/charts and 62 tables are provided in this 194 - page report
Chapter - 1: Executive Summary 4 $ 435
1. Executive Summary
Chapter - 2: Oil and Gas Pipe Market Background and Classifications 11 $ 218
2. Oil and Gas Pipe Market Background and Classifications 
2.1 Introduction 
2.1.1 Industry Classification 
2.1.2 Markets Served
2.1.3 Supply Chain
Chapter - 3: Market Trend and Forecast Analysis 61 $ 3,698
3. Market Trend and Forecast Analysis 
3.1 Market Analysis 2014 
3.1.1 Global Oil and Gas Pipe Market by Value and Volume
3.1.2 Regional Oil and Gas Pipe Market by Value and Volume 
3.2 Market Trend 2009-2014 
3.2.1 Macroeconomic Trends 
3.2.2 Global Oil and Gas Pipe Market by Value and Volume 
3.2.3 North American Oil and Gas Pipe Market Trend by Value and Volume 
3.2.4 European Oil and Gas Pipe Market Trend by Value and Volume
3.2.5 APAC Oil and Gas Pipe Market Trend by Value and Volume
3.2.6 ROW Oil and Gas Pipe Market Trend by Value and Volume 
3.2.7 Industry Drivers and Challenges 
3.3 Market Forecast 2014–2019 
3.3.1 Macroeconomic Forecasts 
3.3.2 Global Oil and Gas Pipe Market Forecast by Value and Volume 
3.3.3 North American Oil and Gas Pipe Market Forecast by Value and Volume 
3.3.4 European Oil and Gas Pipe Market Forecast by Value and Volume 
3.3.5 APAC Oil and Gas Pipe Market Forecast by Value and Volume 
3.3.6 ROW Oil and Gas Pipe Market Forecast by Value and Volume 
Chapter - 4: Competitor Analysis 9 $ 943
4. Competitor Analysis 
4.1 Product Portfolio Analysis 
4.2 Market Share Analysis 
4.3 Growth Leadership Analysis
4.4 Porter’s Five Forces Analysis
Chapter - 5: Growth Opportunity and Strategic Analysis 13 $ 1,088
5. Growth Opportunity & Strategic Analysis 
5.1 Growth Opportunities Analysis 
5.2 Emerging Trends in Global Oil and Gas Pipe Market 
5.2 Strategic Analysis 
5.2.1 New Product Development .
5.2.2 Expansion Strategy 
5.3 Mergers and Acquisitions in Global Oil and Gas Pipe Market
Chapter - 6: Company Profiles of Leading Players 18 $ 870
6. Company Profiles of Leading Players
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

Please sign in below to get report brochure - Composites in the Oil and Gas Market.

At Lucintel, we respect your privacy and maintain the confidentiality of information / data provided by you
(Please enter your corporate email. * These fields are mandatory )
Have an Account / Returning Visitors?