(EMAILWIRE.COM, December 18, 2019 ) The report "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", The global market of composites in oil & gas industry is projected to reach USD 1.98 Billion by 2021, at a CAGR of 5.05% between 2016 and 2021. The major factors fueling the growth of market of composites in oil & gas industry are the increasing demand of non-corrosive and lightweight materials in the oil & gas industry and boom in the hydraulic fracturing activities.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75947166

Glass fiber-based oil & gas composites comprise a major share in market of composites in oil & gas industry

Glass fiber-based oil & gas composites has the major share in market of composites in oil & gas industry due to large demand from pipes, tanks, frac balls, frac plugs, and other applications. The low cost of glass fiber and its superior properties such as strength, flexibility, durability, stability, lightweight, as well as resistance to heat, temperature, and moisture are factors that contribute to the growth of glass fiber-based oil & gas composites.

Epoxy resin-based oil & gas composites has the largest market share in the market of composites in oil & gas industry

Epoxy resin-based oil & gas composites has the largest market share and are expected to be the fastest-growing resin type in market of composites in oil & gas industry . This is because epoxy resin-based oil & gas composites offer various thermal and mechanical properties, such as resistance to corrosive liquids, excellent electrical insulation, good performance at elevated temperature, lower styrene emission in comparison to that of polyester resins, and good adhesion strength to different varieties of reinforcements.

Pipes is the largest application of the composites in oil & gas industry

The applications such as pipes, risers, downline, and flow line dominate market of composites in oil & gas industry. This is because of the growing demand for high-strength, high-performance, cost-effective, non-corrosive, and lightweight materials from the deep water offshore oil & gas exploration and production activities. In addition, the use of composite pipes reduces the overall maintenance costs, thereby minimizing the maintenance costs of the overall installations.

Don't miss out on business opportunities in Composites in Oil and Gas Industry Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=75947166

Browse in-depth TOC on "Composites in Oil and Gas Industry Market”
84 - Market Data Tables
61 - Figures
156 - Pages

North America is the key market for composites in oil & gas industry

North America is expected to be the largest region for the market of composites in oil & gas industry. The growing demand for composite based frac plugs and frac balls due to exploration of shale gas resourced, thereby requiring improved hydraulic fracturing and horizontal drilling methods are driving the market in this region. Furthermore, there has been acceleration in production of oil & gas composite components to cater the huge demand from the growing shale gas exploration and production activities.

Some of the leading manufacturers of oil & gas composites include 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.), and ZCL Composite (Canada).

Get this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=75947166

Bundle Reports:
• FRP Tank Market
• FRP Rebar Market
• FRPGRPGRE Pipe Market
Get Special Pricing on Bundle Reports: https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=75947166

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.