Lucintel Forecasts The Composites In The Global Oil And Gas Market To Reach $4 Billion By 2031

By Author: Lucintel LLC
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According to a market report by Lucintel, the future of the composites in the global oil and gas market looks promising with opportunities in the pipes, tanks, pultruded products, and frac plugs and frac balls in the oil and gas industry. The composites in the global oil and gas market is expected to reach an estimated $4 billion by 2031 with a CAGR of 13% from 2024 to 2031. The major drivers for this market are increasing oil and gas drilling and exploration activities in future.
A more than 150-page report to understand trends, opportunity and forecast in composites in the global oil and gas market to 2031 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 & ROW).
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 composite is expected to witness highest growth over the forecast period.
Download sample by clicking on composites in the global oil and gas market.
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.
Mattr Infratech, Future Pipe Industries, National Oilwell Varco (NOV), Hengrun Group, Strongwell, Amiantit, Baker Hughes are the major suppliers in the composites in the oil and gas market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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