The composites in the oil & gas industry market are projected to grow from USD 2.3 Billion in 2022 to USD 3.4 Billion by 2028, at a CAGR of 6.1% during the forecast period. The market is anticipated to grow due to the increased need for durable composite components to withstand the harsh conditions of the oil & gas industry. Composite materials are significantly lighter and stronger than traditional materials such as steel, which makes them an attractive option for the oil and gas industry. These materials can also be customized to meet specific performance requirements, making them ideal for challenging environments such as deep-sea drilling. The oil and gas industry is constantly seeking new ways to improve efficiency and productivity, and the development of new composite materials is an area of active research and innovation. As new materials and technologies become available, they will continue to drive growth and development in the industry.
In terms of value, the carbon fiber type segment accounted for the second largest share of the overall composites in the oil & gas industry market
Based on fiber type carbon fiber segment accounted for the second largest share of the overall composites in the oil & gas industry market. Carbon fiber composites are much lighter than traditional materials such as steel, while also being incredibly strong. This makes them ideal for offshore structures, such as risers, where weight reduction is critical. Carbon fiber composites can be easily molded into complex shapes, which allows for greater design flexibility and customization. The unique properties of carbon fiber composites can improve the performance of oil and gas equipment, such as drill pipes, by reducing weight and increasing strength and stiffness. These factors drive the growth of carbon fiber in composites in the oil & gas industry market.
In terms of value, the polyester resin type segment accounted for the second largest share of the overall composites in the oil & gas industry market
Based on resin type polyester resin segment accounted for the second largest share of the overall composites in the oil & gas industry market. Polyester resin composites are commonly used in the oil and gas industry due to their versatility and cost-effectiveness. Polyester resin composites are highly resistant to corrosion, making them ideal for constructing tanks and pipes used to store and transport corrosive materials in the oil and gas industry. These resin composites can construct offshore structures such as platforms, walkways, and stairs. These structures can withstand harsh marine environments and are lightweight, reducing transportation and installation costs. Polyester resin composites can be used as insulation material in oil and gas pipelines and tanks, providing excellent thermal insulation and reducing energy losses. Superior characteristics of polyester resin composite boost its demand across the oil & gas industry.
During the forecast period, the composites in the oil & gas industry market in Europe region is projected to register the second highest share
The composites in the oil & gas industry market have been studied in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America has accounted for the largest market share in 2022. Europe accounted for the second-largest market share in 2022. The Europe market will experience considerable growth in the next years because there has been an increasing demand for energy worldwide and Europe region, which has driven the need for more efficient and cost-effective methods of extracting and processing oil and gas. Composites can help achieve these goals by reducing weight, improving corrosion resistance, and enhancing performance. Also In terms of exploration, there have been some significant discoveries in the region, particularly in the North Sea. In 2019, Equinor and its partners announced the discovery of oil and gas in the Norwegian sector of the North Sea, which was estimated to contain between 38 and 100 million barrels of oil equivalent. These factors contribute to the global expansion of the market.
This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
- By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
- By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-5%, Middle East & Africa (MEA)-10%
The report provides a comprehensive analysis of company profiles:
Prominent companies include Baker Hughes (US), Strohm (Netherlands), NOV Inc. (US), SLB (Schlumberger N.V.) (US), Halliburton (US), Shawcor (Canada), TechnipFMC plc (UK), among others.
Research Coverage
This research report categorizes the composites in the oil & gas industry market by resin type (epoxy, polyester, phenolic, and others), by fiber type (carbon, glass, and others), and by application (pipes, tanks, top side applications, pumps & compressors, and others) & region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the composites in the oil & gas industry market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services; key strategies; Contracts, partnerships, and agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the composites in the oil & gas industry market. Competitive analysis of upcoming startups in the composites in the oil & gas industry market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall composites in the oil & gas industry market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing demand for non-corrosive and lightweight materials in the oil & gas industry, Long life cycle, and low maintenance costs of composites), restraints (Variations in prices of crude oil, High processing and manufacturing costs. Lack of standardization in manufacturing technologies), opportunities Boom in hydraulic fracturing offers new opportunities for composites), and challenges (High production cost and availability of low-cost substitutes) influencing the growth of the composites in oil & gas industry market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the composites in oil & gas industry market
- Market Development: Comprehensive information about lucrative markets - the report analyses the composites in oil & gas industry market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the composites in oil & gas industry market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Baker Hughes (US), Strohm (Netherlands), NOV Inc. (US), SLB (Schlumberger N.V.) (US), Halliburton (US), Shawcor (Canada), TechnipFMC plc (UK), among others in the composites in oil & gas industry market
Table of Contents
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
Figure 1 Composites in Oil & Gas Industry Market Segmentation
1.3.1 Regions Covered
1.3.2 Years Considered
1.4 Currency
1.5 Units Considered
1.6 Limitations
1.7 Stakeholders
1.8 Summary of Changes
1.8.1 Impact of Recession
2 Research Methodology
2.1 Research Approach
Figure 2 Research Design
2.2 Base Number Calculation
2.2.1 Approach 1: Supply-Side Analysis
2.2.2 Approach 2: Demand-Side Approach
2.3 Impact of Recession
2.4 Forecast Number Calculation
2.4.1 Supply Side
2.4.2 Demand Side
2.5 Research Data
2.5.1 Secondary Data
2.5.1.1 Key Data from Secondary Sources
2.5.2 Primary Data
2.5.2.1 Key Data from Primary Sources
2.5.2.2 Primary Interviews-Top Manufacturers of Composites in Oil & Gas Industry
2.5.2.3 Breakdown of Primary Interviews
2.5.2.4 Key Industry Insights
2.6 Market Size Estimation
2.6.1 Bottom-Up Approach
Figure 3 Bottom-Up Approach
2.6.2 Top-Down Approach
Figure 4 Top-Down Approach
2.7 Data Triangulation
Figure 5 Data Triangulation
2.8 Factor Analysis
2.9 Assumptions
2.10 Market Growth Rate Assumptions/Growth Forecast
2.11 Limitations
2.12 Risks Associated with Composites in Oil & Gas Industry Market
3 Executive Summary
Figure 6 Glass Fiber Composites Segment Dominated Market in 2022
Figure 7 Epoxy Resin Segment Accounted for Largest Market Share in 2022
Figure 8 Pipes Segment Accounted for Largest Share of Composites in Oil & Gas Industry Market in 2022
Figure 9 North America Accounted for Largest Share of Composites in Oil & Gas Industry Market in 2022
4 Premium Insights
4.1 Composites in Oil & Gas Industry Market, by Volume
Figure 10 Significant Growth Expected in Composites in Oil & Gas Industry Market Between 2023 and 2028
4.2 Composites in Oil & Gas Industry Market, by Fiber Type, 2022
Figure 11 Glass Fiber Composites Segment Dominated Market in 2022
4.3 Composites in Oil & Gas Industry Market, by Resin Type, 2022
Figure 12 Epoxy Segment Accounted for Largest Share of Market in 2022
4.4 Composites in Oil & Gas Industry Market, by Application, 2022
Figure 13 Pipes Largest Application Segment in 2022
4.5 Composites in Oil & Gas Industry Market, by Region, 2022
Figure 14 North America Largest Market in Terms of Volume in 2022
4.6 Composites in Oil & Gas Industry Market, by Key Countries
Figure 15 Canada to be Fastest-Growing Composites in Oil & Gas Industry Market During 2023-2028
5 Market Overview
5.1 Market Dynamics
Figure 16 Drivers, Restraints, Opportunities, and Challenges in Composites in Oil & Gas Industry Market
5.1.1 Drivers
5.1.1.1 Increasing Demand for Non-Corrosive and Lightweight Materials in Oil & Gas Industry
5.1.1.2 Long Life Cycle and Low Maintenance Costs of Composites
5.1.2 Restraints
5.1.2.1 Variations in Prices of Crude Oil
Figure 17 Crude Oil Prices, 2015-2022
5.1.2.2 High Processing and Manufacturing Costs
5.1.2.3 Lack of Standardization in Manufacturing Technologies
5.1.2.4 Increasing Focus on Use of Renewable Energy
5.1.3 Opportunities
5.1.3.1 Boom in Hydraulic Fracturing Offers New Opportunities for Composites
5.1.3.2 Rising Demand from Growing Economies
5.1.3.3 New Discoveries in Middle East & Africa
5.1.3.4 Reduction in Cost of Carbon Fiber Composites
5.1.4 Challenges
5.1.4.1 High Production Cost and Availability of Low-Cost Substitutes
5.1.4.2 Issues Related to Recycling
5.2 Porter's Five Forces Analysis
Figure 18 Porter's Five Forces Analysis of Composites in Oil & Gas Industry Market
5.2.1 Threat of New Entrants
5.2.2 Threat of Substitutes
5.2.3 Bargaining Power of Buyers
5.2.4 Bargaining Power of Suppliers
5.2.5 Intensity of Competitive Rivalry
Table 1 Porter's Five Forces Analysis
5.3 Supply Chain Analysis
Table 2 Supply Chain
5.4 Pricing Analysis
5.4.1 Average Selling Price, by Application (Key Players)
Figure 19 Average Selling Prices of Composites Offered by Key Players for Top Three Applications (Usd/Kg)
5.4.2 Average Selling Price Trend
Table 3 Average Selling Price Trend of Composites in Oil & Gas Industry, by Region
Table 4 Average Selling Price of Composites, by Fiber Type
Table 5 Average Selling Price of Composites, by Resin Type
5.5 Key Stakeholders and Buying Criteria
5.5.1 Key Stakeholders in Buying Process
Figure 20 Influence of Stakeholders in Buying Process for Top Three Applications
Table 6 Influence of Stakeholders in Buying Process for Top Three Applications
5.5.2 Buying Criteria
Figure 21 Key Buying Criteria for Top Three Applications
Table 7 Key Buying Criteria for Top Three Applications
5.6 Technology Analysis
Table 8 Comparative Study of Major Composites in Oil & Gas Industry Manufacturing Processes
5.7 Ecosystem
5.8 Value Chain Analysis
5.9 Case Study Analysis
5.10 Trends and Disruptions Impacting Customers’ Businesses
5.11 Key Markets for Import & Export
5.11.1 China
5.11.2 US
5.11.3 Germany
5.11.4 India
5.12 Trade Policies and Tariff Regulations for Export/Import
5.12.1 US
5.12.2 Japan
5.12.3 Europe
5.12.4 China
5.13 Tariffs and Regulations
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Standards for Composites in Oil & Gas Industry Market
Table 10 Current Standard Codes for Composites in Oil & Gas Industry
5.14 Patent Analysis
5.14.1 Introduction
5.14.2 Methodology
5.14.3 Document Type
Figure 22 Patents Registered for Carbon Fiber, 2011-2023
Figure 23 Patent Publication Trends, 2011-2023
5.14.4 Jurisdiction Analysis
Figure 24 China Accounts for Highest Number of Patents Registered
5.14.5 Top Companies/Applicants
Figure 25 Sanuwave, Inc. Registered Highest Number of Patents from 2011 to 2023
Table 11 List of Patents by Sanuwave, Inc.
Table 12 List of Patents by Magma Global Ltd.
Table 13 Top 10 Patent Owners (Us) in Last 11 Years
5.15 Key Conferences
Table 14 Detailed List of Conferences & Events
6 Composites in Oil & Gas Industry Market, by Application
6.1 Introduction
Figure 26 Pipes to be Largest and Third-Fastest-Growing Application, in Composites in Oil & Gas Industry Market
Table 15 Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 16 Oil & Gas Composites Market, by Application, 2018-2022 (Kiloton)
Table 17 Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 18 Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
6.2 Pipes
6.2.1 Risers
6.2.2 Jumpers
6.2.3 Downlines
Figure 27 North America to Lead Pipes Application in Composites in Oil & Gas Industry Market
Table 19 Composites in Oil & Gas Industry Market in Pipes Application, by Region, 2018-2022 (USD Million)
Table 20 Composites in Oil & Gas Industry Market in Pipes Application, by Region, 2018-2022 (Kiloton)
Table 21 Composites in Oil & Gas Industry Market in Pipes Application, by Region, 2023-2028 (USD Million)
Table 22 Composites in Oil & Gas Industry Market in Pipes Application, by Region, 2023-2028 (Kiloton)
6.3 Tanks
Figure 28 North America to Lead Tanks Application in Composites in Oil & Gas Industry
Table 23 Composites in Oil & Gas Industry Market in Tanks Application, by Region, 2018-2022 (USD Million)
Table 24 Composites in Oil & Gas Industry Market in Tanks Application, by Region, 2018-2022 (Kiloton)
Table 25 Composites in Oil & Gas Industry Market in Tanks Application, by Region, 2023-2028 (USD Million)
Table 26 Composites in Oil & Gas Industry Market in Tanks Application, by Region, 2023-2028 (Kiloton)
6.4 Top Side Applications
6.4.1 Grids/Gratings
6.4.2 Ladders
6.4.3 Handrails
6.4.4 Decking
Figure 29 North America to Dominate Top Side Applications Segment in Composites in Oil & Gas Industry Market
Table 27 Composites in Oil & Gas Industry Market in Top Side Applications, by Region, 2018-2022 (USD Million)
Table 28 Composites in Oil & Gas Industry Market in Top Side Applications, by Region, 2018-2022 (Kiloton)
Table 29 Composites in Oil & Gas Industry Market in Top Side Applications, by Region, 2023-2028 (USD Million)
Table 30 Composites in Oil & Gas Industry Market in Top Side Applications, by Region, 2023-2028 (Kiloton)
6.5 Pumps & Compressors
6.5.1 Pumps
6.5.2 Compressors
Figure 30 Market in Europe to Grow at Second Highest CAGR in Pumps & Compressors Application in Composites in Oil & Gas Industry
Table 31 Composites in Oil & Gas Industry Market in Pumps & Compressors Application, by Region, 2018-2022 (USD Million)
Table 32 Composites in Oil & Gas Industry Market in Pumps & Compressors Application, by Region, 2018-2022 (Kiloton)
Table 33 Composites in Oil & Gas Industry Market in Pumps & Compressors Application, by Region, 2023-2028 (USD Million)
Table 34 Composites in Oil & Gas Industry Market in Pumps & Compressors Application, by Region, 2023-2028 (Kiloton)
6.6 Others
6.6.1 Frac Plugs and Frac Balls
6.6.2 Flexible Tubes
6.6.3 Composite Risers
6.6.4 Accumulator Bottles
6.6.5 Caissons
6.6.6 Others
Table 35 Composites in Oil & Gas Industry Market in Other Applications, by Region, 2018-2022 (USD Million)
Table 36 Composites in Oil & Gas Industry Market in Other Applications, by Region, 2018-2022 (Kiloton)
Table 37 Composites in Oil & Gas Industry Market in Other Applications, by Region, 2023-2028 (USD Million)
Table 38 Composites in Oil & Gas Industry Market in Other Applications, by Region, 2023-2028 (Kiloton)
7 Composites in Oil & Gas Industry Market, by Fiber Type
7.1 Introduction
Figure 31 Glass Fiber Composites Segment to Dominate Composites in Oil & Gas Industry Market
Table 39 Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (USD Million)
Table 40 Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (Kiloton)
Table 41 Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (USD Million)
Table 42 Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
7.2 Glass Fiber Composites
7.2.1 Longer Lifespan and Significant Cost Savings to Lead to High Growth
Figure 32 North America to be Largest Glass Fiber Composites Market During Forecast Period
7.2.2 Glass Fiber Composites in Oil & Gas Industry Market, by Region
Table 43 Glass Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 44 Glass Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 45 Glass Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 46 Glass Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
7.3 Carbon Fiber Composites
7.3.1 Technological Advancements to Increase Competitiveness and Reduce Cost
7.3.1.1 Chopped Carbon Fiber
7.3.1.2 Continuous Carbon Fiber
Figure 33 North America to be Largest Carbon Fiber Composites Market by 2028
7.3.2 Carbon Fiber Composites in Oil & Gas Industry Market, by Region
Table 47 Carbon Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 48 Carbon Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 49 Carbon Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 50 Carbon Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
7.4 Others
Figure 34 North America to be Largest Market for Other Fiber Composites
7.4.1 Other Fiber Composites in Oil & Gas Industry Market, by Region
Table 51 Other Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 52 Other Fiber Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 53 Other Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 54 Other Fiber Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
8 Composites in Oil & Gas Industry Market, by Resin Type
8.1 Introduction
Figure 35 Epoxy Resin Composites to Dominate Composites in Oil & Gas Industry Market
Table 55 Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 56 Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 57 Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 58 Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
8.1.1 Epoxy Resin Composites
8.1.1.1 Increasing Demand from End-Use Applications in Oil & Gas Industry to Drive Market
Figure 36 North America to be Largest Epoxy Resin Composites Market
8.1.2 Epoxy Resin Composites in Oil & Gas Industry Market, by Region
Table 59 Epoxy Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 60 Epoxy Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 61 Epoxy Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 62 Epoxy Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
8.2 Polyester Resin Composites
8.2.1 Cost-Effectiveness and Use in High-Temperature Applications to Drive Market
Figure 37 North America to be Largest Polyester Resin Composites Market
8.2.2 Polyester Resin Composites in Oil & Gas Industry Market, by Region
Table 63 Polyester Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 64 Polyester Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 65 Polyester Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 66 Polyester Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
8.3 Phenolic Resin Composites
8.3.1 Oil & Gas Industry Moving Toward Sustainable Growth
Figure 38 Europe to be Second-Largest Phenolic Resin Composites Market
8.3.2 Phenolic Resin Composites in Oil & Gas Industry Market, by Region
Table 67 Phenolic Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 68 Phenolic Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 69 Phenolic Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 70 Phenolic Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
8.4 Other Resin Composites
8.4.1 Polyethylene Resins
8.4.2 Polyamide Resins
8.4.3 Peek Resins
8.4.4 Vinyl Ester Resins
Table 71 Other Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 72 Other Resin Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 73 Other Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 74 Other Resin Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
9 Composites in Oil & Gas Industry Market, by Region
9.1 Introduction
Figure 39 Market in Canada to Grow at Highest CAGR (2023-2028)
Table 75 Composites in Oil & Gas Industry Market, by Region, 2018-2022 (USD Million)
Table 76 Composites in Oil & Gas Industry Market, by Region, 2018-2022 (Kiloton)
Table 77 Composites in Oil & Gas Industry Market, by Region, 2023-2028 (USD Million)
Table 78 Composites in Oil & Gas Industry Market, by Region, 2023-2028 (Kiloton)
9.2 Europe
9.2.1 Impact of Recession in Europe
Figure 40 Europe: Composites in Oil & Gas Industry Market Snapshot
9.2.2 Europe: Composites in Oil & Gas Industry Market, by Resin Type
Table 79 Europe: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 80 Europe: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 81 Europe: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 82 Europe: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
9.2.3 Europe: Composites in Oil & Gas Industry Market, by Fiber Type
Table 83 Europe: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (USD Million)
Table 84 Europe: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (Kiloton)
Table 85 Europe: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (USD Million)
Table 86 Europe: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
9.2.4 Europe: Composites in Oil & Gas Industry Market, by Application
Table 87 Europe: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 88 Europe: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (Kiloton)
Table 89 Europe: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 90 Europe: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
9.2.5 Europe: Composites in Oil & Gas Industry Market, by Country
Table 91 Europe: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (USD Million)
Table 92 Europe: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (Kiloton)
Table 93 Europe: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (USD Million)
Table 94 Europe: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (Kiloton)
9.2.6 UK
9.2.6.1 Increasing Oil & Gas Exploration and Production to Drive Market
9.2.7 Norway
9.2.7.1 Latest Licensing Round and Growing Exploration to Drive Market
9.2.8 Netherlands
9.2.8.1 Discovery of F17A Off the Coast Driving Market Growth
9.2.9 Denmark
9.2.9.1 Development of Existing Fields to Boost Demand for Composites
9.2.10 Russia
9.2.10.1 Exploration and Development of New Oil & Gas Fields to Boost Market
9.2.11 Italy
9.2.11.1 New Offshore Exploration Project in the Adriatic Sea to Boost Market Growth
9.2.12 Germany
9.2.12.1 Shift Toward Gas-Fired Power Plants to Generate Demand for Composites in Pipes and Tanks
9.2.13 Rest of Europe
9.3 North America
9.3.1 Impact of Recession in North America
Figure 41 North America: Composites in Oil & Gas Industry Market Snapshot
9.3.2 North America: Composites in Oil & Gas Industry Market, by Resin Type
Table 95 North America: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 96 North America: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 97 North America: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 98 North America: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
9.3.3 North America: Composites in Oil & Gas Industry Market, by Fiber Type
Table 99 North America: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (USD Million)
Table 100 North America: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (Kiloton)
Table 101 North America: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (USD Million)
Table 102 North America: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
9.3.4 North America: Composites in Oil & Gas Industry Market, by Application
Table 103 North America: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 104 North America: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (Kiloton)
Table 105 North America: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 106 North America: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
9.3.5 North America: Composites in Oil & Gas Industry Market, by Country
Table 107 North America: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (USD Million)
Table 108 North America: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (Kiloton)
Table 109 North America: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (USD Million)
Table 110 North America: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (Kiloton)
9.3.6 US
9.3.6.1 Increasing Shale Gas Production to Boost Market Growth
9.3.7 Canada
9.3.7.1 Proposed Pipeline Projects to Drive Market Growth
9.4 Asia-Pacific
9.4.1 Impact of Recession in Asia-Pacific
Figure 42 Asia-Pacific: Composites in Oil & Gas Industry Market Snapshot
9.4.2 Asia-Pacific: Composites in Oil & Gas Industry Market, by Resin Type
Table 111 Asia-Pacific: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 112 Asia-Pacific: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 113 Asia-Pacific: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 114 Asia-Pacific: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
9.4.3 Asia-Pacific: Composites in Oil & Gas Industry Market, by Fiber Type
Table 115 Asia-Pacific: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (USD Million)
Table 116 Asia-Pacific: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (Kiloton)
Table 117 Asia-Pacific: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (USD Million)
Table 118 Asia-Pacific: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
9.4.4 Asia-Pacific: Composites in Oil & Gas Industry Market, by Application
Table 119 Asia-Pacific: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 120 Asia-Pacific: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (Kiloton)
Table 121 Asia-Pacific: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 122 Asia-Pacific: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
9.4.5 Asia-Pacific: Composites in Oil & Gas Industry Market, by Country
Table 123 Asia-Pacific: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (USD Million)
Table 124 Asia-Pacific: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (Kiloton)
Table 125 Asia-Pacific: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (USD Million)
Table 126 Asia-Pacific: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (Kiloton)
9.4.6 China
9.4.6.1 Ongoing and Upcoming Oil & Gas Exploration Projects to Boost Demand for Composites
9.4.7 Australia
9.4.7.1 Increased Gas Production Leading to Rising Demand for Composites in Pipe and Tank Applications
9.4.8 India
9.4.8.1 Growing Demand for Energy to Boost Demand for Composites in Oil & Gas Applications
9.4.9 Thailand
9.4.9.1 Upcoming Exploration Projects to Drive Market for Composites in Oil & Gas Applications
9.4.10 Malaysia
9.4.10.1 Growing Efforts by Public Sector Toward Energy Security to Boost Market
9.4.11 Rest of Asia-Pacific
9.5 Latin America
9.5.1 Impact of Recession on Latin America
9.5.2 Latin America: Composites in Oil & Gas Industry Market, by Resin Type
Table 127 Latin America: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 128 Latin America: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 129 Latin America: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 130 Latin America: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
9.5.3 Latin America: Composites in Oil & Gas Industry Market, by Fiber Type
Table 131 Latin America: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022, (USD Million)
Table 132 Latin America: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022, (Kiloton)
Table 133 Latin America: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028, (USD Million)
Table 134 Latin America: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
9.5.4 Latin America: Composites in Oil & Gas Industry Market, by Application
Table 135 Latin America: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 136 Latin America: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (Kiloton)
Table 137 Latin America: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 138 Latin America: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
9.5.5 Latin America: Composites in Oil & Gas Industry Market, by Country
Table 139 Latin America: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (USD Million)
Table 140 Latin America: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (Kiloton)
Table 141 Latin America: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (USD Million)
Table 142 Latin America: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (Kiloton)
9.5.6 Brazil
9.5.6.1 Increasing Investments by Global Players to Boost Market
9.5.7 Mexico
9.5.7.1 Significant Potential and Production in Offshore Fields to Increase Demand for Composites-Based Applications
9.5.8 Venezuela
9.5.8.1 Offshore Production Activities to Drive Market Growth During Forecast Period
9.5.9 Rest of Latin America
9.6 Middle East & Africa
9.6.1 Impact of Recession on Middle East & Africa
9.6.2 Middle East & Africa: Composites in Oil & Gas Industry Market, by Resin Type
Table 143 Middle East & Africa: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (USD Million)
Table 144 Middle East & Africa: Composites in Oil & Gas Industry Market, by Resin Type, 2018-2022 (Kiloton)
Table 145 Middle East & Africa: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (USD Million)
Table 146 Middle East & Africa: Composites in Oil & Gas Industry Market, by Resin Type, 2023-2028 (Kiloton)
9.6.3 Middle East & Africa: Composites in Oil & Gas Industry Market, by Fiber Type
Table 147 Middle East & Africa: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (USD Million)
Table 148 Middle East & Africa: Composites in Oil & Gas Industry Market, by Fiber Type, 2018-2022 (Kiloton)
Table 149 Middle East & Africa: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (USD Million)
Table 150 Middle East & Africa: Composites in Oil & Gas Industry Market, by Fiber Type, 2023-2028 (Kiloton)
9.6.4 Middle East & Africa: Composites in Oil & Gas Industry Market, by Application
Table 151 Middle East & Africa: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (USD Million)
Table 152 Middle East & Africa: Composites in Oil & Gas Industry Market, by Application, 2018-2022 (Kiloton)
Table 153 Middle East & Africa: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (USD Million)
Table 154 Middle East & Africa: Composites in Oil & Gas Industry Market, by Application, 2023-2028 (Kiloton)
9.6.5 Middle East & Africa: Composites in Oil & Gas Industry Market, by Country
Table 155 Middle East & Africa: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (USD Million)
Table 156 Middle East & Africa: Composites in Oil & Gas Industry Market, by Country, 2018-2022 (Kiloton)
Table 157 Middle East & Africa Composites in Oil & Gas Industry Market, by Country, 2023-2028 (USD Million)
Table 158 Middle East & Africa: Composites in Oil & Gas Industry Market, by Country, 2023-2028 (Kiloton)
9.6.6 Saudi Arabia
9.6.6.1 Increasing Global Supply of Oil & Gas to Drive Market During Forecast Period
9.6.7 UAE
9.6.7.1 Recent Exploration and Increased Oil & Gas Production Capacity to Drive Market
9.6.8 Qatar
9.6.8.1 New Exploration Agreements and Involvement of Global Players to Boost Demand for Composites in Oil & Gas Industry
9.6.9 Nigeria
9.6.9.1 Exploration by Countries Such as China to Open New Avenues for Oil & Gas Industry
9.6.10 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
Figure 43 Share of Top Companies in Composites in Oil & Gas Industry Market, 2021
Table 159 Degree of Competition
10.3 Market Ranking
Figure 44 Ranking of Top Five Players in Composites in Oil & Gas Industry Market
10.4 Revenue Analysis of Top Market Players
Figure 45 Revenue Analysis
10.5 Company Evaluation Matrix
Table 160 Company Product Footprint
Table 161 Company Application Footprint
Table 162 Company Region Footprint
10.6 Competitive Landscape Mapping
10.6.1 Stars
10.6.2 Pervasive Players
10.6.3 Participants
10.6.4 Emerging Leaders
Figure 46 Competitive Leadership Mapping, 2022
10.6.5 Strength of Product Portfolio
Figure 47 Product Portfolio Analysis of Top Players in Composites in Oil & Gas Industry Market
10.6.6 Business Strategy Excellence
Figure 48 Business Strategy Excellence of Top Players in Composites in Oil & Gas Industry Market
10.7 Competitive Scenario and Trends
Table 163 Deals, 2017-2023
Table 164 Other Developments, 2017-2023
10.8 Competitive Benchmarking of Key Startups/Smes
Table 165 Key Startups/Smes
Table 166 Competitive Benchmarking of Key Startups/Smes
10.9 Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
10.9.1 Progressive Companies
10.9.2 Responsive Companies
10.9.3 Dynamic Companies
10.9.4 Starting Blocks
Figure 49 Small and Medium-Sized Enterprises Mapping, 2022
11 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
11.1 Key Companies
11.1.1 Strohm
Table 167 Strohm: Company Overview
11.1.2 Nov Inc.
Table 168 Nov Inc.: Company Overview
Figure 50 Nov Inc.: Company Snapshot
11.1.3 Baker Hughes
Table 169 Baker Hughes: Company Overview
Figure 51 Baker Hughes: Company Snapshot
11.1.4 Slb
Table 170 Slb: Company Overview
Figure 52 Slb: Company Snapshot
11.1.5 Shawcor
Table 171 Shawcor: Company Overview
Figure 53 Shawcor: Company Snapshot
11.1.6 Halliburton
Table 172 Halliburton: Company Overview
Figure 54 Halliburton: Company Snapshot
11.1.7 Technipfmc plc
Table 173 Technipfmc plc: Company Overview
Figure 55 Technipfmc plc: Company Snapshot
11.1.8 Saudi Arabian Amiantit Co.
Table 174 Saudi Arabian Amiantit Co.: Company Overview
Figure 56 Saudi Arabian Amiantit Co.: Company Snapshot
11.1.9 Weatherford International plc
Table 175 Weatherford International plc: Company Overview
Figure 57 Weatherford International plc: Company Snapshot
11.1.10 Future Pipe Industries
Table 176 Future Pipe Industries: Company Overview
11.2 Other Players
11.2.1 Vello Nordic As
Table 177 Vello Nordic As: Company Overview
11.2.2 Enduro Composites Inc.
Table 178 Enduro Composites Inc: Company Overview
11.2.3 Fiberglass Grating Systems
Table 179 Fiberglass Grating Systems: Company Overview
11.2.4 Containment Solutions, Inc.
Table 180 Containment Solutions, Inc.: Company Overview
11.2.5 Hengrun Group Co. Ltd.
Table 181 Hengrun Group Co. Ltd.: Company Overview
11.2.6 Lianyungang Zhongfu Lianzhong Composites Group., Ltd.
Table 182 Lianyungang Zhongfu Lianzhong Composites Group., Ltd.: Company Overview
11.2.7 L.F. Manufacturing, Inc.
Table 183 L.F. Manufacturing, Inc.: Company Overview
11.2.8 Palmer Manufacturing & Tank Inc.
Table 184 Palmer Manufacturing & Tank Inc.: Company Overview
11.2.9 The Gund Company, Inc.
Table 185 The Gund Company, Inc.: Company Overview
11.2.10 Flowserve Corporation
Table 186 Flowserve Corporation : Company Overview
11.2.11 Sundyne
Table 187 Sundyne: Company Overview
11.2.12 Timken Company
Table 188 Timken Company: Company Overview
11.2.13 Valvtechnologies
Table 189 Valvtechnologies: Company Overview
11.2.14 Wolf Kunststoff-Gleitlager GmbH
Table 190 Wolf Kunststoff-Gleitlager GmbH: Company Overview
11.2.15 Sealmax
Table 191 Sealmax: Company Overview
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.
12 Appendix
12.1 Knowledgestore: The Subscription Portal
12.2 Customization Options
Companies Mentioned
- Baker Hughes
- Containment Solutions, Inc.
- Enduro Composites Inc.
- Fiberglass Grating Systems
- Flowserve Corporation
- Future Pipe Industries
- Halliburton
- Hengrun Group Co. Ltd.
- L.F. Manufacturing, Inc.
- Lianyungang Zhongfu Lianzhong Composites Group., Ltd.
- Nov Inc.
- Palmer Manufacturing & Tank Inc.
- Saudi Arabian Amiantit Co.
- Sealmax
- Shawcor
- Slb
- Strohm
- Sundyne
- Technipfmc plc
- The Gund Company, Inc.
- Timken Company
- Valvtechnologies
- Vello Nordic As
- Weatherford International plc
- Wolf Kunststoff-Gleitlager GmbH
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2.3 Billion |
| Forecasted Market Value ( USD | $ 3.4 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
