Surge in Demand for Non-corrosive and lightweight materials In Oil and Gas Industry stimulates the Growth of the Composites in Oil and Gas Market
An increase in the manufacture of shale gas and improved hydraulic fracturing method drives the growth of the composites in the oil &gas industry market. An upsurge in demand for non-corrosive and lightweight materials in the oil & gas industry also stimulates the growth of the market. However, fluctuating prices of raw materials and the availability of low-cost substitutes restrict the growth of composites in the oil & gas industry market. Composites replacing steel piping in backport applications are expected to boost the growth of composites in the oil & gas industry market in the near future..
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MARKET INTRODUCTION
A composite refers to material made by combining two or more constituent elements with different physical and chemical properties. Composites in the oil & gas industry market are referred to as enabling technology under deepwater drilling conditions. These composites are used because of their ability to stand harsh subsea environment conditions. These composites are light in weight, therefore, eliminates the need for large and exorbitant buoyancy tanks. Composites in the oil and gas industry are inexpensive and corrosion resistant.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the food binders. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Airborne Oil & Gas B.V.
- CIP Composites
- Enduro Composites, Inc.
- GE Oil & Gas
- National Oilwell Varco
- Pipex Ltd.
- Schlumberger
- Strongwell Corporation
- Vello Nordic AS
- ZCL Composites
The "Global Composite in Oil and Gas Industry Analysis to 2027" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the composites in oil and gas industry market with detailed market segmentation by fiber type, resin type, application and geography. The global composites in oil and gas industry market are expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading composites in oil and gas industry market players and offers key trends and opportunities in the market.