Composites in Oil and Gas Industry Market by Resin Type (Epoxy, Polyester, and Phenolic), Fiber Type (Glass and Carbon), Application (Pipes, Tanks, and Top Side Applications), and Region - Global Forecasts to 2021 By MarketsandMarkets
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Composites in Oil & Gas Industry Market: Global Forecasts to 2021 “Increasing demand for non-corrosive and lightweight materials in the oil & gas industry” The market size of composites in oil & gas industry is projected to reach USD 1.98 billion by 2021, registering a CAGR of 5.05% between 2016 and 2021. The increasing demand of noncorrosive and lightweight materials in the oil & gas industry along with long life cycle and low maintenance cost of composites are the major factors fueling the growth of the global market of composites in oil & gas industry. “Pipes: The fastest-growing application of the market of composites in oil & gas industry” The market of composites in oil & gas industry is driven by increase in the production of shale gas and improved hydraulic fracturing methods, thereby increasing the demand of composites pipes, risers, jumpers, flow line, and others. This is because these composite components offers complete solutions against highly corrosive fluids and harsh environment conditions at various temperature, pressure, adverse weather, and soil conditions. This growth is attributed to the growing exploration of untapped resources and growing demand for energy.
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Composites in Oil & Gas Industry Market: Global Forecasts to 2021 “North America: The fastest-growing market of composites in oil & gas industry” North America is the largest and fastest-growing market of composites in oil & gas industry. The rising demand for high-performance and lightweight materials and increasing new product launches & other development strategies in the region lead to the growth of the market of composites in oil & gas industry in this region. The U.S. dominated the market of composites in oil & gas industry in North America, accounting for more than half of the demand for oil & gas composites in the region. The increasing demand for non-corrosive and lightweight materials in the oil &gas industry along with long life cycle and low maintenance cost of composites is driving the demand for oil & gas composites. By Company Type - Tier 1- 35%, Tier 2- 25%, and Tier 3-40% By Designation - C Level- 30%, Director Level- 25%, and Others- 45% By Region - North America- 35%, Europe- 30%, Asia-Pacific- 20%, and RoW (Middle East & Africa and Latin America) - 15%
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Composites in Oil & Gas Industry Market: Global Forecasts to 2021 As a part of qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players such as Airborne Oil & Gas (Netherlands), GE Oil & Gas (U.K.), Magma Global Limited (U.K.), National Oilwell Varco (U.S.), Vello Nordic AS (Norway), Schlumberger Limited (U.S.), Halliburton (U.S.), Strongwell Corporation (U.S.), Enduro Composites, Inc. (U.S.), ZCL Composite (Canada). Complete report Composites in Oil and Gas Industry Market spread across 156 pages, profiling 10 companies and supported with 84 tables and 61 figures is now available at http://www.rnrmarketresearch.com/composites-in-oil-and-gas-industry-market-by-resintype-epoxy-polyester-and-phenolic-fiber-type-glass-and-carbon-application-pipes-tanksand-top-side-applications-and-region-global-forecasts-to-2021-market-report.html
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Composites in Oil & Gas Industry Market: Global Forecasts to 2021 Table of Contents: 1 Introduction
2 Research Methodology
7 Industry Trends
3 Executive Summary
8 Market of Composites in Oil & Gas Industry, By Fiber Type
4 Premium Insights 5 Macro Economic Overview and Key Drivers
9 Market of Composites in Oil & Gas Industry, By Resin Type
6 Market Overview
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