Stratview Research in its recent report has offered an overlook of the current Composites in Oil & Gas Industry Market scenarios and has also estimated the Composites in Oil & Gas Industry Market size to reach grow at CAGR of 5.4%. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.

Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

Click here for a Free Sample of the report (additional insights inside):
https://www.stratviewresearch.com/Request-Sample/664/composites-in-oil-&-gas-industry-market.html

Composites are employed for demanding applications in the oil & gas industry owing to their unique properties, which make them suitable. They offer the properties of being low in weight, which drives away the need for large and overpriced buoyancy tanks. Being economical, composites are preferred to install and they are extremely corrosion-resistant, and suit to various increased operating pressures.

Composites are the best fit as the oil & gas industry has to meet certain technical, technological, and economic conditions. This is more so pragmatic in the employment of materials in construction, which is expected to tolerate corrosion, fatigue, and weight. These factors immensely predispose to increased risk and cost of offshore projects. In tandem with this objective, composites find a suitable place in the oil & gas industry.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Click here for description of the report:
https://www.stratviewresearch.com/664/composites-in-oil-&-gas-industry-market.html

Based on the fiber type, the market has been segmented as glass fiber composites and carbon fiber composites. The glass fiber composites segment dominated the market and is expected to maintain its position during the forecast period, owing to its usage in a wide range of applications, such as frac plugs, frac balls, handrails, ladders, tanks, and others. Further, the low cost of glass fiber composites along with their exceptional properties such as high mechanical strength, durability, flexibility, and lightweight are acting as a catalyst towards their increasing demand in the oil and gas industry. Based on the resin type, the market is segmented as epoxy resin, polyester resin, phenolic resins, and others. The epoxy resin-based composite segment is expected to witness the highest growth during the forecast period. Increasing usage of hydraulic fracturing to extract natural gas from shale gas deposits has led to an increased usage of epoxy composites in applications, such as bridge plugs, frac plugs, frac balls, and pipes.

Based on the application type, the market is segmented as pipes, tanks, top side applications, and others. The pipes segment is estimated to be the largest segment during the forecast period, owing to properties of composite pipes such as resistance to crude oil, paraffin build-up, and ability to withstand relatively high pressure in harsh operating environment.

In terms of regions, Asia-Pacific is expected to witness the highest growth in the composites in oil & gas industry market during the forecast period, owing to the exceptional properties exhibited by composite materials in applications, such as pipes, tanks, top side applications, and others. North America and Europe are the other two major markets which are expected to witness substantial growth during the forecast period, owing to aging oil & gas transportation infrastructure and increasing focus towards unconventional sources of energy.

Check out the Table of Contents here:
https://www.stratviewresearch.com/toc/664/composites-in-oil-&-gas-industry-market.html

Highlights of the Report:
Composites in Oil & Gas Industry Market is likely to witness an impressive CAGR of 5.4% during the forecast period. The major factors driving the demand for composites in the oil & gas industry are their superior properties such as lightweight, corrosion and chemical resistance, high mechanical strength, and low maintenance cost.

Some of the leading players operating in the composites in oil & gas industry are Airborne Oil & Gas BV, GE Oil & Gas, Magma Global Limited, National Oilwell Varco, Vello nordic AS, Schlumberger Limited, Halliburton Company, Strongwell Corporation, Enduro Composites, Inc., and ZCL Composites.

Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Composites in Oil & Gas Industry Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors