Trends, Opportunities and Competitive Analysis of Composites in the Oil And Gas Market

September 2021 | 194 pages | ID: TCF14341DE81EN
Lucintel

Abstracts

The future of the composites in the oil and gas industry looks promising with opportunities in pipes, tanks, pultruded products, frac plugs and frac balls, and others. The composites in the global oil and gas industry declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $1.4 billion by 2026 with a CAGR of 6.5% from 2021 to 2026. The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.

Emerging trends, which have a direct impact on the dynamics of the industry, are the emergence of introduction of carbon fiber for oil and gas applications and on-site construction of FRP pipes to any length and diameter which exclude transportation and installation cost. Owens corning, Jushi, CPIC, Nippon Electric Glass Co. Ltd., Huntsman, Hexion, and Olin Corporation are among the leading players of composites material in global oil and gas industry.

A total of 98 figures / charts and 62 tables are provided in this 194-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the composites in the global oil and gas industry report, please download the report brochure.

The study includes trends and forecast for the composites in the global oil and gas industry by end use industry, by product, and region as follows:

By End Use Application [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

• Pipes
• Tanks
• Pultruded Products
• Frac Plugs and Frac Balls
• Others

By Resin Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

• Epoxy Composites
• Polyester Composites
• Phenolic Composites
• Polyethylene Composites

By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

• North America
• Europe
• Asia Pacific
• Rest of the world

In this market, polyester, epoxy, phenolic, and polyethylene composites are the materials used to manufacture various composite parts for oil and gas industry. Lucintel predicts that the demand for epoxy composites is expected to experience the highest growth in the forecast period, supported by its high performance characteristics such as low shrinkage, excellent adhesion, effective electrical insulation, high chemical, and solvent resistance properties.

Within the composites in the oil and gas industry, pipe application 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. 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.

North America is expected to remain the largest market due to growth in natural gas infrastructure projects, and awareness on the advantages of composite materials for oil and gas over traditional material.

Features of the Global Composites in the Oil and Gas Industry

• Market Size Estimates: Composites in the oil and gas industry size estimation in terms of value ($M) and volume (M lbs) shipment
• Trend and Forecast Analysis: Composites in the oil and gas industry trends (2015-2020) and forecast (2021-2026) by various segments and regions.
• Segmentation Analysis: Composites in the oil and gas industry size by various segments, such as end use application, by resin type, and regions in terms of value and volume.
• Regional Analysis: Composites in the oil and gas industry breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different end use application, by product, and regions for the composites in the global oil and gas industry.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites in the global oil and gas industry.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the composites in the global oil and gas industry by end use application, by resin, and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the composites in the global oil and gas industry?
Q.5 What are the business risks and threats to the composites in the global oil and gas industry?
Q.6 What are emerging trends in this composites in the global oil and gas industry and the reasons behind them?
Q.7 What are some changing demands of customers in the composites in the global oil and gas industry?
Q.8 What are the new developments in the composites in the global oil and gas industry? Which companies are leading these developments?
Q.9 Who are the major players in the composites in the global oil and gas industry? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the composites in the global oil and gas industry, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the composites in the global oil and gas industry?

Contents

1. EXECUTIVE SUMMARY

2. MARKET BACKGROUND AND CLASSIFICATIONS

2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. MARKET TRENDS AND FORECAST ANALYSIS FROM 2015 TO 2026

3.1: Macroeconomic Trends and Forecasts
  3.1.1: Macroeconomic Trends
  3.1.2: Macroeconomic Forecast
3.2: Composites in the Global Oil and Gas Industry Trends and Forecast
3.3: Composites in the Global Oil and Gas Industry by End Use Application
  3.3.1: Pipes
  3.3.2: Tanks
  3.3.3: Pultruded Products
  3.3.4: Frac Plugs and Frac Balls
  3.3.5: Others
3.4: Composites in the Global Oil and Gas Industry by Resin Type
  3.4.1: Epoxy Composites
  3.4.2: Polyester Composites
  3.4.3: Phenolic Composites
  3.4.4: Polyethylene Composites

4. MARKET TRENDS AND FORECAST ANALYSIS FROM 2015 TO 2026

4.1: Composites in the Global Oil and Gas Industry by Region
4.2: Composites in the North America Oil and Gas Industry Trends and Forecast
  4.2.1: Composites in the North American Oil and Gas Industry by End Use Application
4.3: Composites in the European Oil and Gas Industry Trends and Forecast
  4.3.1: Composites in the European Oil and Gas Industry by End Use Application
4.4: Composites in the APAC Oil and Gas Industry Trends and Forecast
  4.4.1: Composites in the APAC Oil and Gas Industry by End Use Application
4.5: Composites in the ROW Oil and Gas Industry Trends and Forecast
  4.5.1: Composites in the ROW Oil and Gas Industry by End Use Application

5. COMPETITOR ANALYSIS

5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis

6. GROWTH OPPORTUNITIES AND STRATEGIC ANALYSIS

6.1: Growth Opportunity Analysis
  6.1.1: Growth Opportunities for the Composites in the Global Oil and Gas Industry by End Use Application
  6.1.2: Growth Opportunities for the Composites in the Global Oil and Gas Industry by Resin Type
  6.1.3: Growth Opportunities for Composites in the Global Oil and Gas Market by Region
6.2: Emerging Trend in the Composites in the Global Oil and Gas Industry
6.3: Strategic Analysis
  6.3.1: New Product Development
  6.3.2: Capacity Expansion of the Composites in the Global Oil and Gas Industry
  6.3.3: Mergers, Acquisitions and Joint Ventures in the Composites in the Global Oil and Gas Industry
  6.3.4: Certification and Licensing

7. COMPETITOR ANALYSIS

7.1: Owens Corning
7.2: Jushi Group Co. Ltd
7.3: Chongqing Polycomp International Corporation (CPIC)
7.4: Nippon Electric Glass Co. Ltd
7.5: Olin Corporation
7.6: Hexion Inc.
7.7: Polynt-Reichhold
7.8: Ashland (INEOS Enterprises)
7.9: Sumitomo Bakelite
7.10: Future Pipe Industries
7.11: National Oilwell Varco (NOV)
7.12: Hengrun Group Co. Ltd.
7.13: Hobas Pipe
7.14: Amaintit
7.15: ZCL Composites Inc. (SHAWCOR)

List Of Figures

LIST OF FIGURES

Chapter 2. Market Background and Classifications
Figure 2.1: Manufacturing Processes of Composites in the Oil and Gas Industry
Figure 2.2: A Filament Winding Machine
Figure 2.3: Chopper Gun Used for Spray-Up Process
Figure 2.4: Pultrusion Process
Figure 2.5: Classification of Composites in the Global Oil and Gas Industry by End Use Application Segment and Raw Material Type
Figure 2.6: Applications for Composites in the Global Oil and Gas Industry
Figure 2.7: Composites Pipes Used in Oil and Gas Application
Figure 2.8: Composite Tank Used in Oil and Gas Application
Figure 2.9: Composite Pressure Vessel Cylinders
Figure 2.10: Composite Grating Used in Offshore Application Platform of the Oil and Gas Industry
Figure 2.11: Composite Frac Plug and Frac Balls Used for Fracking in the Oil and Gas Industry
Figure 2.12: Composite Repair Used in the Oil and Gas Industry
Figure 2.13: Composite Bearing and Bushes Used in the Oil and Gas Industry
Figure 2.14: Composite Sucker Rods Used in the Oil and Gas Industry
Figure 2.15: Supply Chain of the Composites in the Global Oil and Gas Industry
Figure 2.16: Major Drivers and Challenges for the Composites in the Global Oil and Gas Industry
Chapter 3. Market Trends and Forecast Analysis from 2015 to 2026
Figure 3.1: Trends of the Global GDP Growth Rate
Figure 3.2: Trends of the Global Population Growth Rate
Figure 3.3: Trends of the Global Inflation Rate
Figure 3.4: Trends of the Global Unemployment Rate
Figure 3.5: Trends of the Regional GDP Growth Rate
Figure 3.6: Trends of the Regional Population Growth Rate
Figure 3.7: Trends of the Regional Inflation Rate
Figure 3.8: Trends of the Regional Unemployment Rate
Figure 3.9: Trends of the Regional Per Capita Income
Figure 3.10: Forecast for the Global GDP Growth Rate
Figure 3.11: Forecast for the Global Population Growth Rate
Figure 3.12: Forecast for the Global Inflation Rate
Figure 3.13: Forecast for the Global Unemployment Rate
Figure 3.14: Forecast for the Regional GDP Growth Rate
Figure 3.15: Forecast for the Regional Population Growth Rate
Figure 3.16: Forecast for the Regional Inflation Rate
Figure 3.17: Forecast for the Regional Unemployment Rate
Figure 3.18: Forecast for the Regional Per Capita Income
Figure 3.19: Trends and Forecast for the Composites in the Global Oil and Gas Industry (2015-2026)
Figure 3.20: Trends of the Composites in the Global Oil and Gas Industry ($M) by End Use Application (2015-2020)
Figure 3.21: Forecast for the Composites in the Global Oil and Gas Industry ($M) by End Use Application (2021-2026)
Figure 3.22: Trends of the Composites in the Global Oil and Gas Industry (M lbs) by End Use Application (2015-2020)
Figure 3.23 : Forecast for the Composites in the Global Oil and Gas Industry (M lbs) by End Use Application (2021-2026)
Figure 3.24: Trends and Forecast for Pipe in the Global Oil and Gas Industry (2015-2026)
Figure 3.25: Trends and Forecast for Tanks in the Global Oil and Gas Industry (2015-2026)
Figure 3.26: Trends and Forecast for Pultruded Products in the Global Oil and Gas Industry (2015-2026)
Figure 3.27: Trends and Forecast for Frac Plugs and Frac Balls in the Global Oil and Gas Industry (2015-2026)
Figure 3.28: Trends and Forecast for Others in the Global Oil and Gas Industry (2015-2026)
Figure 3.29: Trends of the Composites in the Global Oil and Gas Industry ($M) by Resin Type (2015-2020)
Figure 3.30: Forecast for the Composites in the Global Oil and Gas Industry ($M) by End Use (2021-2026)
Figure 3.31: Trends of the Composites in the Global Oil and Gas Industry (M lbs.) by Resin Type (2015-2020)
Figure 3.32 : Forecast for the Composites in the Global Oil and Gas Industry (M lbs.) by Resin Type (2021-2026)
Figure 3.33: Trends and Forecast for Epoxy Composites in the Global Oil and Gas Industry (2015-2026)
Figure 3.34: Trends and Forecast for Polyester Composites in the Global Oil and Gas Industry (2015-2026)
Figure 3.35: Trends and Forecast for Phenolic in the Global Oil and Gas Industry (2015-2026)
Figure 3.36: Trends and Forecast for Packaging in the Composites in the Global Oil and Gas Industry (2015-2026)
Chapter 4. Market Trends and Forecast Analysis from 2015 to 2026
Figure 4.1: Trends of the Composites in the Global Oil and Gas Industry ($M) by Region (2015-2020)
Figure 4.2: Forecast for the Global Oil and Gas Industry ($M) by Region (2021-2026)
Figure 4.3: Trends of the Global Oil and Gas Industry (M lbs.) by Region (2015-2020)
Figure 4.4: Forecast for the Global Oil and Gas Industry (M lbs.) by Region (2021-2026)
Figure 4.5: Trends and Forecast for the Composites in the North American Oil and Gas Industry (2015-2026)
Figure 4.6: Trends of the Composites in the North American Oil and Gas Industry ($M) by End Use (2015-2020)
Figure 4.7: Forecast for the Composites in the North American Oil and Gas Industry ($M) by End Use (2021-2026)
Figure 4.8: Trends of the Composites in the North American Oil and Gas Industry (M lbs.) by End Use (2015-2020)
Figure 4.9: Forecast for the Composites in the North American Oil and Gas Industry (M lbs.) by End Use (2021-2026)
Figure 4.10: Trends and Forecast for the Composites in the European Oil and Gas Industry (2015-2026)
Figure 4.11: Trends of the Composites in the European Oil and Gas Industry ($M) by End Use (2015-2020)
Figure 4.12: Forecast for the Composites in the European Oil and Gas Industry ($M) by End Use (2021-2026)
Figure 4.13: Trends of the Composites in the European Oil and Gas Industry (M lbs.) by End Use (2015-2020)
Figure 4.14: Forecast for the Composites in the European Oil and Gas Industry (M lbs.) by End Use (2021-2026)
Figure 4.15: Trends and Forecast for the Composites in the APAC Oil and Gas Industry (2015-2026)
Figure 4.16: Trends of the Composites in the APAC Oil and Gas ($M) by End Use Application (2015-2020)
Figure 4.17: Forecast for the Composites in the APAC Oil and Gas Industry ($M) by End Use Application (2021-2026)
Figure 4.18: Trends of the Composites in the APAC Oil and Gas Industry (M lbs) by End Use Application (2015-2020)
Figure 4.19: Forecast for the Composites in the APAC Oil and Gas Industry (M lbs) by End Use Application (2021-2026)
Figure 4.20: Trends and Forecast for the Composites in the ROW Oil and Gas Industry (2015-2026)
Figure 4.21: Trends of the Composites in the ROW Oil and Gas Industry ($M) by End Use Application (2015-2020)
Figure 4.22: Forecast for the Composites in the ROW Oil and Gas Industry ($M) by End Use Application (2021-2026)
Figure 4.23: Trends of the Composites in the ROW Oil and Gas Industry (M lbs) by End Use Application (2015-2020)
Figure 4.24: Forecast for the Composites in the ROW Oil and Gas Industry (M lbs) by End Use Application (2021-2026)
Chapter 5. Competitor Analysis
Figure 5.1: Head Office Locations of Major Composites Suppliers
Figure 5.2: Porter’s Five Forces Analysis of the Composites in the Global Oil and Gas Industry
Chapter 6. Growth Opportunities and Strategic Analysis
Figure 6.1: Growth Opportunities for the Composites in the Global Oil and Gas Industry by End Use (2021-2026)
Figure 6.2: Growth Opportunities for the Global Oil and Gas Industry by Resin Type (2021-2026)
Figure 6.3: Growth Opportunities for the Global Oil and Gas Industry by Region (2026)
Figure 6.4: Emerging Trends in Composites in the Global Oil and Gas Industry
Figure 6.5: Major Capacity Expansions in the Composites in the Global Oil and Gas Industry (2015-2020)
Chapter 7. Competitor Analysis
Figure 7.1: Major Plant Locations of Owens Corning Glass Fiber
Figure 7.2: Major Plant Locations of Jushi Group Co., Ltd
Figure 7.3: Major Plant Locations of Chongqing Polycomp International Corporation
Figure 7.4: Major Plant Locations of Nippon Electric Glass Co., Ltd.
Figure 7.5: Major Plant Locations of Olin Corporation Epoxy Resin Business
Figure 7.6: Major Plant Locations of Hexion Inc.
Figure 7.7: Polynt-Reichhold’s Manufacturing Locations
Figure 7.8: INEOS Manufacturing Locations
Figure 7.9: Major Plant Locations of Sumitomo Bakelite
Figure 7.10: Major Plant Locations of Future Pipe Industry
Figure 7.11: Major Plant Locations of National Oilwell Varco (NOV)
Figure 7.12: Major Plant Location of Hengrun Group Co. Ltd.
Figure 7.13: Major Plant Locations of Hobas Pipe
Figure 7.14: Major Plant Locations of Amiantit
Figure 7.15: Major Plant Locations of Amiantit

List Of Tables

LIST OF TABLES

Chapter 1. Executive Summary
Table 1.1: Composites in the Global Oil and Gas Industry Parameters and Attributes
Chapter 3. Market Trends and Forecast Analysis from 2015 to 2026
Table 3.1: Comparison of Fiber Materials Used in Manufacturing of Composite Products
Table 3.2: Price Performance Analysis for Thermosets Used in Composite Applications in the Global Oil and Gas Industry
Table 3.1: Trends of the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.2: Forecast for the Composites in the Global Oil and Gas Industry(2021-2026)
Table 3.3: Market Size and CAGR of Various End Use Application in the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.4: Market Size and CAGR of Various End Use Application in the Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.5: Market Size and CAGR of Various End Use Application in the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.6: Market Size and CAGR of Various End Use Application in the Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.7: Trends of the Pipe in the Global Oil and Gas Industry (2015-2020)
Table 3.8: Forecast for the Pipe in the Global Oil and Gas Industry (2021-2026)
Table 3.9: Trends of the Tanks in the Global Oil and Gas Industry (2015-2020)
Table 3.10: Forecast for the Tanks in the Global Oil and Gas Industry (2021-2026)
Table 3.11: Trends of the Pultruded Products in the Global Oil and Gas Industry (2015-2020)
Table 3.12: Forecast for the Pultruded Products in the Global Oil and Gas Industry (2021-2026)
Table 3.13: Trends of the Frac Plugs and Frac Balls in the Global Oil and Gas Industry (2015-2020)
Table 3.14: Forecast for the Frac Plugs and Frac Balls in the Global Oil and Gas Industry (2021-2026)
Table 3.15: Trends of the Others in the Global Oil and Gas Industry (2015-2020)
Table 3.16: Forecast for the Others in the Global Oil and Gas Industry (2021-2026)
Table 3.17: Market Size and CAGR of Various Resin Type in the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.18: Market Size and CAGR of Various Resin Type in the Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.19: Market Size and CAGR of Various Resin Type in the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.20: Market Size and CAGR of Various Resin Type in the Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.21: Trends of the Epoxy Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.22: Forecast for the Epoxy Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.23: Trends of the Polyester Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.24: Forecast for the Polyester Composites in the Global Oil and Gas Industry (2021-2026)
Table 3.25: Trends of the Phenolic in the Global Oil and Gas Industry (2015-2020)
Table 3.26: Forecast for the Phenolic in the Global Oil and Gas Industry (2021-2026)
Table 3.27: Trends of the Packaging in the Composites in the Global Oil and Gas Industry (2015-2020)
Table 3.28: Forecast for the Packaging in the Composites in the Global Oil and Gas Industry (2021-2026)
Chapter 4. Market Trends and Forecast Analysis from 2015 to 2026
Table 4.1: Market Size and CAGR of Various Regions in the Global Oil and Gas Industry by Value (2015-2020)
Table 4.2: Market Size and CAGR of Various Regions in the Global Oil and Gas Industry by (2021-2026)
Table 4.3: Market Size and CAGR of Various Regions in the Global Oil and Gas Industry by Volume (2015-2020)
Table 4.4: Market Size and CAGR of Various Regions in the Global Oil and Gas Industry by Volume (2021-2026)
Table 4.5: Trends of the Composites in the North American Oil and Gas Industry (2015-2020)
Table 4.6: Forecast for the Composites in the North American Oil and Gas Industry (2021-2026)
Table 4.7: Market Size and CAGR of Various End Use in the Composites in the North American Oil and Gas Industry by Value (2015-2020)
Table 4.8: Market Size and CAGR of Various End Use in the Composites in the North American Oil and Gas Industry by Value (2021-2026)
Table 4.9: Market Size and CAGR of Various End Use in the Composites in the North American Oil and Gas Industry by Volume (2015-2020)
Table 4.10: Market Size and CAGR of Various End Use in the Composites in the North American Oil and Gas Industry by Volume (2021-2026)
Table 4.11: Trends of the Composites in the European Oil and Gas Industry (2015-2020)
Table 4.12: Forecast for the Composites in the European Oil and Gas Industry (2021-2026)
Table 4.13: Market Size and CAGR of Various End Use in the Composites in the European Oil and Gas Industry by Value (2015-2020)
Table 4.14: Market Size and CAGR of Various End Use in the Composites in the European Oil and Gas Industry by Value (2021-2026)
Table 4.15: Market Size and CAGR of Various End Use in the Composites in the European Oil and Gas Industry by Volume (2015-2020)
Table 4.16: Market Size and CAGR of Various End Use in the Composites in the European Oil and Gas Industry by Volume (2021-2026)
Table 4.17: Trends of the Composites in the APAC Oil and Gas Industry (2015-2020)
Table 4.18: Forecast for the Composites in the APAC Oil and Gas Industry (2021-2026)
Table 4.19: Market Size and CAGR of Various End Use Application in the Composites in the APAC Oil and Gas Industry by Value (2015-2020)
Table 4.20: Market Size and CAGR of Various End Use Application in the composites in the APAC Oil and Gas Industry by Value (2021-2026)
Table 4.21: Market Size and CAGR of Various End Use Application in the APAC Oil and Gas Industry by Volume (2015-2020)
Table 4.22: Market Size and CAGR of Various End Use Application in the APAC Oil and Gas Industry by Volume (2021-2026)
Table 4.23: Trends of the Composites in the ROW Oil and Gas Industry (2015-2020)
Table 4.24: Forecast for the Composites in the ROW Oil and Gas Industry (2021-2026)
Table 4.25: Market Size and CAGR of Various End Use Application in the Composites in the ROW Oil and Gas Industry by Value (2015-2020)
Table 4.26: Market Size and CAGR of Various End Use Application in the Composites in the ROW Oil and Gas Industry by Value (2021-2026)
Table 4.27: Market Size and CAGR of Various End Use Application in the ROW Oil and Gas Industry by Volume (2015-2020)
Table 4.28: Market Size and CAGR of Various End Use Application in the ROW Oil and Gas Industry by Volume (2021-2026)
Chapter 5. Competitor Analysis
Table 5.1: Material Mapping for Composites in the Global Oil and Gas Industry Based on Segments
Table 5.2: Operational Integration Mapping for Composite Manufacturers in the Global Oil and Gas Industry
Table 5.3: Operational Integration of the Global FRP Pipe Suppliers
Chapter 6. Growth Opportunities and Strategic Analysis
Table 6.1: New Product Launches by Major Composites in Oil and Gas Producers (2015-2020) (Source: Lucintel)
Table 6.2: Certifications and Licenses Acquired by Major Competitors in the Composites in the Global Oil and Gas Industry