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Composites In Oil & Gas Industry Market by Resin Type (Epoxy, Composites, Polyester, Phenolic), Fiber Type (Carbon, Glass,), Application (Pipes, Tanks, Top Side Applications, Pumps & Compressors), and Region - Global Forecasts to 2028

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Date: 28-Mar-2023
No. of pages: 258
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“The carbon fiber composites is projected to register a CAGR of 8.6% during the forecast period.”

The composites in oil & gas industry market is projected to grow from USD 2.3 Billion in 2022 to USD 3.4 Billion by 2028, at a CAGR of 6.1% during the forecast period. Market is anticipated to grow due to increase need for durable composites componantes to withstand harsh conditions of oil & gas industry. Composite materials are significantly lighter and stronger than traditional materials such as steel, which makes them an attractive option for the oil and gas industry. These materials can also be customized to meet specific performance requirements, making them ideal for challenging environments such as deep-sea drilling. The oil and gas industry is constantly seeking new ways to improve efficiency and productivity, and the development of new composite materials is an area of active research and innovation. As new materials and technologies become available, they will continue to drive growth and development in the industry.

‘‘In terms of value, carbon fiber type segment accounted for the second largest share of the overall composites in oil & gas industry market.’’

Based on fiber type carbon fiber segment accounted for the second largest share of the overall composites in oil & gas industry market. Carbon fiber composites are much lighter than traditional materials such as steel, while also being incredibly strong. This makes them ideal for use in offshore structures, such as risers, where weight reduction is critical. Carbon fiber composites can be easily molded into complex shapes, which allows for greater design flexibility and customization. The unique properties of carbon fiber composites can improve the performance of oil and gas equipment, such as drill pipe, by reducing weight and increasing strength and stiffness. This factors driving the growth of carbon fiber in composites in oil & gas industry market.

‘‘In terms of value, polyster resin type segment accounted for the second largest share of the overall composites in oil & gas industry market’’

Based on resin type polyster resin segment accounted for the second largest share of the overall composites in oil & gas industry market. Polyester resin composites are commonly used in the oil and gas industry due to their versatility and cost-effectiveness. Polyester resin composites are highly resistant to corrosion, making them ideal for the construction of tanks and pipes used to store and transport corrosive materials in the oil and gas industry. This resin composites can be used to construct offshore structures such as platforms, walkways, and stairs. These structures can withstand harsh marine environments and are lightweight, reducing transportation and installation costs. Polyester resin composites can be used as insulation material in oil and gas pipelines and tanks, providing excellent thermal insulation and reducing energy losses. Superior characteristics of polyster resin composite boosting its demand across oil & gas industry.

“During the forecast period, the composites in oil & gas industry market in Europe region is projected to register the second highest share.”

The composites in oil & gas industry market has been studied in North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America  has saccounted for the largest market share in 2022. Europe accounted for the second largest market share in 2022. The Europe market will experience considerable growth in the next years because there has been an increasing demand for energy worldwide and Europe region, which has driven the need for more efficient and cost-effective methods of extracting and processing oil and gas. Composites can help achieve these goals by reducing weight, improving corrosion resistance, and enhancing performance. Also In terms of exploration, there have been some significant discoveries in the region, particularly in the North Sea. In 2019, Equinor and its partners announced the discovery of oil and gas in the Norwegian sector of the North Sea, which was estimated to contain between 38 and 100 million barrels of oil equivalent. This factors contribute to the global expansion of the market.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:


  • By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%

  • By Designation- C Level- 50%, Director Level- 20%, and Others- 30%

  • By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-5%, Middle East & Africa (MEA)-10%


The report provides a comprehensive analysis of company profiles:

Prominent companies include Baker Hughes (US), Strohm (Netherlands), NOV Inc. (US), SLB (Schlumberger N.V.) (US), Halliburton (US), Shawcor (Canada), TechnipFMC plc (UK), among others.

Research Coverage

This research report categorizes the composites in oil & gas industry market by resin type (epoxy, polyester, phenolic, and others), by fiber type (carbon, glass, and others), and by application (pipes, tanks, top side applications, pumps & compressors and others) & region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the composites in oil & gas industry market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the composites in oil & gas industry market. Competitive analysis of upcoming startups in the composites in oil & gas industry market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall composites in oil & gas industry market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:


  • Analysis of key drivers (Increasing demand for non-corrosive and lightweight materials in oil & gas industry, Long life cycle and low maintenance costs of composites), restraints (Variations in prices of crude oil, High processing and manufacturing costs. Lack of standardization in manufacturing technologies), opportunities Boom in hydraulic fracturing offers new opportunities for composites), and challenges (High production cost and availability of low-cost substitutes) influencing the growth of the composites in oil & gas industry market

  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the composites in oil & gas industry market

  • Market Development: Comprehensive information about lucrative markets – the report analyses the composites in oil & gas industry market across varied regions

  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the composites in oil & gas industry market

  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Baker Hughes (US), Strohm (Netherlands), NOV Inc. (US), SLB (Schlumberger N.V.) (US), Halliburton (US), Shawcor (Canada), TechnipFMC plc (UK), among others in the composites in oil & gas industry market

Composites In Oil & Gas Industry Market by Resin Type (Epoxy, Composites, Polyester, Phenolic), Fiber Type (Carbon, Glass,), Application (Pipes, Tanks, Top Side Applications, Pumps & Compressors), and Region - Global Forecasts to 2028

Table Of Contents

1 Introduction 33
1.1 Study Objectives 33
1.2 Market Definition 33
1.2.1 Inclusions And Exclusions 33
1.3 Market Scope 34
Figure 1 Composites In Oil & Gas Industry Market Segmentation 34
1.3.1 Regions Covered 34
1.3.2 Years Considered 35
1.4 Currency 35
1.5 Units Considered 35
1.6 Limitations 35
1.7 Stakeholders 36
1.8 Summary Of Changes 36
1.8.1 Impact Of Recession 36

2 Research Methodology 37
2.1 Research Approach 37
Figure 2 Research Design 38
2.2 Base Number Calculation 39
2.2.1 Approach 1: Supply-Side Analysis 39
2.2.2 Approach 2: Demand-Side Approach 39
2.3 Impact Of Recession 40
2.4 Forecast Number Calculation 40
2.4.1 Supply Side 40
2.4.2 Demand Side 40
2.5 Research Data 41
2.5.1 Secondary Data 41
2.5.1.1 Key Data From Secondary Sources 41
2.5.2 Primary Data 42
2.5.2.1 Key Data From Primary Sources 42
2.5.2.2 Primary Interviews–Top Manufacturers Of Composites In Oil & Gas Industry 42
2.5.2.3 Breakdown Of Primary Interviews 43
2.5.2.4 Key Industry Insights 43
2.6 Market Size Estimation 44
2.6.1 Bottom-Up Approach 44
Figure 3 Bottom-Up Approach 44
2.6.2 Top-Down Approach 44
Figure 4 Top-Down Approach 45
2.7 Data Triangulation 45
Figure 5 Data Triangulation 46
2.8 Factor Analysis 46
2.9 Assumptions 47
2.10 Market Growth Rate Assumptions/Growth Forecast 47
2.11 Limitations 48
2.12 Risks Associated With Composites In Oil & Gas Industry Market 48

3 Executive Summary 49
Figure 6 Glass Fiber Composites Segment Dominated Market In 2022 50
Figure 7 Epoxy Resin Segment Accounted For Largest Market Share In 2022 50
Figure 8 Pipes Segment Accounted For Largest Share Of Composites In Oil & Gas Industry Market In 2022 51
Figure 9 North America Accounted For Largest Share Of Composites In Oil & Gas Industry Market In 2022 52

4 Premium Insights 53
4.1 Composites In Oil & Gas Industry Market, By Volume 53
Figure 10 Significant Growth Expected In Composites In Oil & Gas Industry Market Between 2023 And 2028 53
4.2 Composites In Oil & Gas Industry Market, By Fiber Type, 2022 54
Figure 11 Glass Fiber Composites Segment Dominated Market In 2022 54
4.3 Composites In Oil & Gas Industry Market, By Resin Type, 2022 54
Figure 12 Epoxy Segment Accounted For Largest Share Of Market In 2022 54
4.4 Composites In Oil & Gas Industry Market, By Application, 2022 55
Figure 13 Pipes Largest Application Segment In 2022 55
4.5 Composites In Oil & Gas Industry Market, By Region, 2022 55
Figure 14 North America Largest Market In Terms Of Volume In 2022 55
4.6 Composites In Oil & Gas Industry Market, By Key Countries 56
Figure 15 Canada To Be Fastest-Growing Composites In Oil & Gas Industry Market During 2023–2028 56

5 Market Overview 57
5.1 Market Dynamics 57
Figure 16 Drivers, Restraints, Opportunities, And Challenges In Composites In Oil & Gas Industry Market 57
5.1.1 Drivers 58
5.1.1.1 Increasing Demand For Non-Corrosive And Lightweight Materials In Oil & Gas Industry 58
5.1.1.2 Long Life Cycle And Low Maintenance Costs Of Composites 58
5.1.2 Restraints 59
5.1.2.1 Variations In Prices Of Crude Oil 59
Figure 17 Crude Oil Prices, 2015–2022 59
5.1.2.2 High Processing And Manufacturing Costs 59
5.1.2.3 Lack Of Standardization In Manufacturing Technologies 59
5.1.2.4 Increasing Focus On Use Of Renewable Energy 60
5.1.3 Opportunities 60
5.1.3.1 Boom In Hydraulic Fracturing Offers New Opportunities For Composites 60
5.1.3.2 Rising Demand From Growing Economies 61
5.1.3.3 New Discoveries In Middle East & Africa 61
5.1.3.4 Reduction In Cost Of Carbon Fiber Composites 61
5.1.4 Challenges 62
5.1.4.1 High Production Cost And Availability Of Low-Cost Substitutes 62
5.1.4.2 Issues Related To Recycling 62
5.2 Porter's Five Forces Analysis 62
Figure 18 Porter’s Five Forces Analysis Of Composites In Oil & Gas Industry Market 63
5.2.1 Threat Of New Entrants 63
5.2.2 Threat Of Substitutes 64
5.2.3 Bargaining Power Of Buyers 64
5.2.4 Bargaining Power Of Suppliers 64
5.2.5 Intensity Of Competitive Rivalry 64
Table 1 Porter’s Five Forces Analysis 65
5.3 Supply Chain Analysis 65
Table 2 Supply Chain 65
5.4 Pricing Analysis 66
5.4.1 Average Selling Price, By Application (Key Players) 66
Figure 19 Average Selling Prices Of Composites Offered By Key Players For Top Three Applications (Usd/Kg) 66
5.4.2 Average Selling Price Trend 66
Table 3 Average Selling Price Trend Of Composites In Oil & Gas Industry, By Region 66
Table 4 Average Selling Price Of Composites, By Fiber Type 67
Table 5 Average Selling Price Of Composites, By Resin Type 67
5.5 Key Stakeholders And Buying Criteria 67
5.5.1 Key Stakeholders In Buying Process 67
Figure 20 Influence Of Stakeholders In Buying Process For Top Three Applications 67
Table 6 Influence Of Stakeholders In Buying Process For Top Three Applications 68
5.5.2 Buying Criteria 68
Figure 21 Key Buying Criteria For Top Three Applications 68
Table 7 Key Buying Criteria For Top Three Applications 68
5.6 Technology Analysis 69
Table 8 Comparative Study Of Major Composites In Oil & Gas Industry Manufacturing Processes 69
5.7 Ecosystem 70
5.8 Value Chain Analysis 71
5.9 Case Study Analysis 72
5.10 Trends And Disruptions Impacting Customers’ Businesses 72
5.11 Key Markets For Import & Export 73
5.11.1 China 73
5.11.2 Us 73
5.11.3 Germany 73
5.11.4 India 73
5.12 Trade Policies And Tariff Regulations For Export/Import 74
5.12.1 Us 74
5.12.2 Japan 74
5.12.3 Europe 74
5.12.4 China 74
5.13 Tariffs And Regulations 75
5.13.1 Regulatory Bodies, Government Agencies, And Other Organizations 75
Table 9 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations 75
5.13.2 Standards For Composites In Oil & Gas Industry Market 76
Table 10 Current Standard Codes For Composites In Oil & Gas Industry 76
5.14 Patent Analysis 77
5.14.1 Introduction 77
5.14.2 Methodology 77
5.14.3 Document Type 77
Figure 22 Patents Registered For Carbon Fiber, 2011–2023 78
Figure 23 Patent Publication Trends, 2011–2023 78
5.14.4 Jurisdiction Analysis 79
Figure 24 China Accounts For Highest Number Of Patents Registered 79
5.14.5 Top Companies/Applicants 79
Figure 25 Sanuwave, Inc. Registered Highest Number Of Patents From 2011 To 2023 79
Table 11 List Of Patents By Sanuwave, Inc. 80
Table 12 List Of Patents By Magma Global Ltd. 80
Table 13 Top 10 Patent Owners (Us) In Last 11 Years 80
5.15 Key Conferences 81
Table 14 Detailed List Of Conferences & Events 81

6 Composites In Oil & Gas Industry Market, By Application 84
6.1 Introduction 85
Figure 26 Pipes To Be Largest And Third-Fastest-Growing Application, In Composites In Oil & Gas Industry Market 85
Table 15 Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 85
Table 16 Oil & Gas Composites Market, By Application, 2018–2022 (Kiloton) 86
Table 17 Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 86
Table 18 Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 87
6.2 Pipes 87
6.2.1 Risers 87
6.2.2 Jumpers 88
6.2.3 Downlines 88
Figure 27 North America To Lead Pipes Application In Composites In Oil & Gas Industry Market 88
Table 19 Composites In Oil & Gas Industry Market In Pipes Application, By Region, 2018–2022 (Usd Million) 88
Table 20 Composites In Oil & Gas Industry Market In Pipes Application, By Region, 2018–2022 (Kiloton) 89
Table 21 Composites In Oil & Gas Industry Market In Pipes Application, By Region, 2023–2028 (Usd Million) 89
Table 22 Composites In Oil & Gas Industry Market In Pipes Application, By Region, 2023–2028 (Kiloton) 89
6.3 Tanks 90
Figure 28 North America To Lead Tanks Application In Composites In Oil & Gas Industry 90
Table 23 Composites In Oil & Gas Industry Market In Tanks Application, By Region, 2018–2022 (Usd Million) 91
Table 24 Composites In Oil & Gas Industry Market In Tanks Application, By Region, 2018–2022 (Kiloton) 91
Table 25 Composites In Oil & Gas Industry Market In Tanks Application, By Region, 2023–2028 (Usd Million) 91
Table 26 Composites In Oil & Gas Industry Market In Tanks Application, By Region, 2023–2028 (Kiloton) 92
6.4 Top Side Applications 92
6.4.1 Grids/Gratings 92
6.4.2 Ladders 92
6.4.3 Handrails 93
6.4.4 Decking 93
Figure 29 North America To Dominate Top Side Applications Segment In Composites In Oil & Gas Industry Market 93
Table 27 Composites In Oil & Gas Industry Market In Top Side Applications, By Region, 2018–2022 (Usd Million) 93
Table 28 Composites In Oil & Gas Industry Market In Top Side Applications, By Region, 2018–2022 (Kiloton) 94
Table 29 Composites In Oil & Gas Industry Market In Top Side Applications, By Region, 2023–2028 (Usd Million) 94
Table 30 Composites In Oil & Gas Industry Market In Top Side Applications, By Region, 2023–2028 (Kiloton) 94
6.5 Pumps & Compressors 95
6.5.1 Pumps 95
6.5.2 Compressors 95
Figure 30 Market In Europe To Grow At Second Highest Cagr In Pumps & Compressors Application In Composites In Oil & Gas Industry 96
Table 31 Composites In Oil & Gas Industry Market In Pumps & Compressors Application, By Region, 2018–2022 (Usd Million) 96
Table 32 Composites In Oil & Gas Industry Market In Pumps & Compressors Application, By Region, 2018–2022 (Kiloton) 96
Table 33 Composites In Oil & Gas Industry Market In Pumps & Compressors Application, By Region, 2023–2028 (Usd Million) 97
Table 34 Composites In Oil & Gas Industry Market In Pumps & Compressors Application, By Region, 2023–2028 (Kiloton) 97
6.6 Others 97
6.6.1 Frac Plugs And Frac Balls 98
6.6.2 Flexible Tubes 98
6.6.3 Composite Risers 98
6.6.4 Accumulator Bottles 98
6.6.5 Caissons 98
6.6.6 Others 98
Table 35 Composites In Oil & Gas Industry Market In Other Applications, By Region, 2018–2022 (Usd Million) 99
Table 36 Composites In Oil & Gas Industry Market In Other Applications, By Region, 2018–2022 (Kiloton) 99
Table 37 Composites In Oil & Gas Industry Market In Other Applications, By Region, 2023–2028 (Usd Million) 99
Table 38 Composites In Oil & Gas Industry Market In Other Applications, By Region, 2023–2028 (Kiloton) 100

7 Composites In Oil & Gas Industry Market, By Fiber Type 101
7.1 Introduction 102
Figure 31 Glass Fiber Composites Segment To Dominate Composites In Oil & Gas Industry Market 102
Table 39 Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Usd Million) 102
Table 40 Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Kiloton) 103
Table 41 Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Usd Million) 103
Table 42 Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 103
7.2 Glass Fiber Composites 104
7.2.1 Longer Lifespan And Significant Cost Savings To Lead To High Growth 104
Figure 32 North America To Be Largest Glass Fiber Composites Market During Forecast Period 104
7.2.2 Glass Fiber Composites In Oil & Gas Industry Market, By Region 104
Table 43 Glass Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 104
Table 44 Glass Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 105
Table 45 Glass Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 105
Table 46 Glass Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 105
7.3 Carbon Fiber Composites 106
7.3.1 Technological Advancements To Increase Competitiveness And Reduce Cost 106
7.3.1.1 Chopped Carbon Fiber 106
7.3.1.2 Continuous Carbon Fiber 106
Figure 33 North America To Be Largest Carbon Fiber Composites Market By 2028 107
7.3.2 Carbon Fiber Composites In Oil & Gas Industry Market, By Region 107
Table 47 Carbon Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 107
Table 48 Carbon Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 108
Table 49 Carbon Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 108
Table 50 Carbon Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 108
7.4 Others 109
Figure 34 North America To Be Largest Market For Other Fiber Composites 109
7.4.1 Other Fiber Composites In Oil & Gas Industry Market, By Region 110
Table 51 Other Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 110
Table 52 Other Fiber Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 110
Table 53 Other Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 110
Table 54 Other Fiber Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 111

8 Composites In Oil & Gas Industry Market, By Resin Type 112
8.1 Introduction 113
Figure 35 Epoxy Resin Composites To Dominate Composites In Oil & Gas Industry Market 113
Table 55 Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 113
Table 56 Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 114
Table 57 Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 114
Table 58 Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 114
8.1.1 Epoxy Resin Composites 115
8.1.1.1 Increasing Demand From End-Use Applications In Oil & Gas Industry To Drive Market 115
Figure 36 North America To Be Largest Epoxy Resin Composites Market 115
8.1.2 Epoxy Resin Composites In Oil & Gas Industry Market, By Region 116
Table 59 Epoxy Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 116
Table 60 Epoxy Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 116
Table 61 Epoxy Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 116
Table 62 Epoxy Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 117
8.2 Polyester Resin Composites 117
8.2.1 Cost-Effectiveness And Use In High-Temperature Applications To Drive Market 117
Figure 37 North America To Be Largest Polyester Resin Composites Market 118
8.2.2 Polyester Resin Composites In Oil & Gas Industry Market, By Region 118
Table 63 Polyester Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 118
Table 64 Polyester Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 118
Table 65 Polyester Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 119
Table 66 Polyester Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 119
8.3 Phenolic Resin Composites 119
8.3.1 Oil & Gas Industry Moving Toward Sustainable Growth 119
Figure 38 Europe To Be Second-Largest Phenolic Resin Composites Market 120
8.3.2 Phenolic Resin Composites In Oil & Gas Industry Market, By Region 120
Table 67 Phenolic Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 120
Table 68 Phenolic Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 121
Table 69 Phenolic Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 121
Table 70 Phenolic Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 121
8.4 Other Resin Composites 122
8.4.1 Polyethylene Resins 122
8.4.2 Polyamide Resins 122
8.4.3 Peek Resins 122
8.4.4 Vinyl Ester Resins 123
Table 71 Other Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 123
Table 72 Other Resin Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 123
Table 73 Other Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 123
Table 74 Other Resin Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 124

9 Composites In Oil & Gas Industry Market, By Region 125
9.1 Introduction 126
Figure 39 Market In Canada To Grow At Highest Cagr (2023-2028) 126
Table 75 Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Usd Million) 126
Table 76 Composites In Oil & Gas Industry Market, By Region, 2018–2022 (Kiloton) 127
Table 77 Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Usd Million) 127
Table 78 Composites In Oil & Gas Industry Market, By Region, 2023–2028 (Kiloton) 127
9.2 Europe 128
9.2.1 Impact Of Recession In Europe 128
Figure 40 Europe: Composites In Oil & Gas Industry Market Snapshot 129
9.2.2 Europe: Composites In Oil & Gas Industry Market, By Resin Type 130
Table 79 Europe: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 130
Table 80 Europe: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 130
Table 81 Europe: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 130
Table 82 Europe: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 131
9.2.3 Europe: Composites In Oil & Gas Industry Market, By Fiber Type 131
Table 83 Europe: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Usd Million) 131
Table 84 Europe: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Kiloton) 132
Table 85 Europe: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Usd Million) 132
Table 86 Europe: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 132
9.2.4 Europe: Composites In Oil & Gas Industry Market, By Application 133
Table 87 Europe: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 133
Table 88 Europe: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Kiloton) 133
Table 89 Europe: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 134
Table 90 Europe: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 134
9.2.5 Europe: Composites In Oil & Gas Industry Market, By Country 135
Table 91 Europe: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Usd Million) 135
Table 92 Europe: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Kiloton) 135
Table 93 Europe: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Usd Million) 136
Table 94 Europe: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Kiloton) 136
9.2.6 Uk 137
9.2.6.1 Increasing Oil & Gas Exploration And Production To Drive Market 137
9.2.7 Norway 137
9.2.7.1 Latest Licensing Round And Growing Exploration To Drive Market 137
9.2.8 Netherlands 137
9.2.8.1 Discovery Of F17a Off The Coast Driving Market Growth 137
9.2.9 Denmark 138
9.2.9.1 Development Of Existing Fields To Boost Demand For Composites 138
9.2.10 Russia 138
9.2.10.1 Exploration And Development Of New Oil & Gas Fields To Boost Market 138
9.2.11 Italy 138
9.2.11.1 New Offshore Exploration Project In The Adriatic Sea To Boost Market Growth 138
9.2.12 Germany 138
9.2.12.1 Shift Toward Gas-Fired Power Plants To Generate Demand For Composites In Pipes And Tanks 138
9.2.13 Rest Of Europe 138
9.3 North America 139
9.3.1 Impact Of Recession In North America 139
Figure 41 North America: Composites In Oil & Gas Industry Market Snapshot 140
9.3.2 North America: Composites In Oil & Gas Industry Market, By Resin Type 140
Table 95 North America: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 140
Table 96 North America: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 141
Table 97 North America: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 141
Table 98 North America: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 141
9.3.3 North America: Composites In Oil & Gas Industry Market, By Fiber Type 142
Table 99 North America: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Usd Million) 142
Table 100 North America: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Kiloton) 142
Table 101 North America: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Usd Million) 142
Table 102 North America: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 143
9.3.4 North America: Composites In Oil & Gas Industry Market, By Application 143
Table 103 North America: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 143
Table 104 North America: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Kiloton) 144
Table 105 North America: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 144
Table 106 North America: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 144
9.3.5 North America: Composites In Oil & Gas Industry Market, By Country 145
Table 107 North America: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Usd Million) 145
Table 108 North America: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Kiloton) 145
Table 109 North America: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Usd Million) 145
Table 110 North America: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Kiloton) 146
9.3.6 Us 146
9.3.6.1 Increasing Shale Gas Production To Boost Market Growth 146
9.3.7 Canada 146
9.3.7.1 Proposed Pipeline Projects To Drive Market Growth 146
9.4 Asia Pacific 147
9.4.1 Impact Of Recession In Asia Pacific 147
Figure 42 Asia Pacific: Composites In Oil & Gas Industry Market Snapshot 148
9.4.2 Asia Pacific: Composites In Oil & Gas Industry Market, By Resin Type 149
Table 111 Asia Pacific: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 149
Table 112 Asia Pacific: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 149
Table 113 Asia Pacific: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 149
Table 114 Asia Pacific: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 150
9.4.3 Asia Pacific: Composites In Oil & Gas Industry Market, By Fiber Type 150
Table 115 Asia Pacific: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Usd Million) 150
Table 116 Asia Pacific: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Kiloton) 151
Table 117 Asia Pacific: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Usd Million) 151
Table 118 Asia Pacific: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 151
9.4.4 Asia Pacific: Composites In Oil & Gas Industry Market, By Application 152
Table 119 Asia Pacific: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 152
Table 120 Asia Pacific: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Kiloton) 152
Table 121 Asia Pacific: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 153
Table 122 Asia Pacific: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 153
9.4.5 Asia Pacific: Composites In Oil & Gas Industry Market, By Country 154
Table 123 Asia Pacific: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Usd Million) 154
Table 124 Asia Pacific: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Kiloton) 154
Table 125 Asia Pacific: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Usd Million) 155
Table 126 Asia Pacific: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Kiloton) 155
9.4.6 China 156
9.4.6.1 Ongoing And Upcoming Oil & Gas Exploration Projects To Boost Demand For Composites 156
9.4.7 Australia 156
9.4.7.1 Increased Gas Production Leading To Rising Demand For Composites In Pipe And Tank Applications 156
9.4.8 India 156
9.4.8.1 Growing Demand For Energy To Boost Demand For Composites In Oil & Gas Applications 156
9.4.9 Thailand 157
9.4.9.1 Upcoming Exploration Projects To Drive Market For Composites In Oil & Gas Applications 157
9.4.10 Malaysia 157
9.4.10.1 Growing Efforts By Public Sector Toward Energy Security To Boost Market 157
9.4.11 Rest Of Asia Pacific 157
9.5 Latin America 158
9.5.1 Impact Of Recession On Latin America 158
9.5.2 Latin America: Composites In Oil & Gas Industry Market, By Resin Type 158
Table 127 Latin America: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 158
Table 128 Latin America: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 159
Table 129 Latin America: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 159
Table 130 Latin America: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 159
9.5.3 Latin America: Composites In Oil & Gas Industry Market, By Fiber Type 160
Table 131 Latin America: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022, (Usd Million) 160
Table 132 Latin America: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022, (Kiloton) 160
Table 133 Latin America: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028, (Usd Million) 160
Table 134 Latin America: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 161
9.5.4 Latin America: Composites In Oil & Gas Industry Market, By Application 161
Table 135 Latin America: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 161
Table 136 Latin America: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Kiloton) 162
Table 137 Latin America: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 162
Table 138 Latin America: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 163
9.5.5 Latin America: Composites In Oil & Gas Industry Market, By Country 163
Table 139 Latin America: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Usd Million) 163
Table 140 Latin America: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Kiloton) 164
Table 141 Latin America: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Usd Million) 164
Table 142 Latin America: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Kiloton) 164
9.5.6 Brazil 165
9.5.6.1 Increasing Investments By Global Players To Boost Market 165
9.5.7 Mexico 165
9.5.7.1 Significant Potential And Production In Offshore Fields To Increase Demand For Composites-Based Applications 165
9.5.8 Venezuela 165
9.5.8.1 Offshore Production Activities To Drive Market Growth During Forecast Period 165
9.5.9 Rest Of Latin America 166
9.6 Middle East & Africa 166
9.6.1 Impact Of Recession On Middle East & Africa 166
9.6.2 Middle East & Africa: Composites In Oil & Gas Industry Market, By Resin Type 167
Table 143 Middle East & Africa: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Usd Million) 167
Table 144 Middle East & Africa: Composites In Oil & Gas Industry Market, By Resin Type, 2018–2022 (Kiloton) 167
Table 145 Middle East & Africa: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Usd Million) 167
Table 146 Middle East & Africa: Composites In Oil & Gas Industry Market, By Resin Type, 2023–2028 (Kiloton) 168
9.6.3 Middle East & Africa: Composites In Oil & Gas Industry Market, By Fiber Type 168
Table 147 Middle East & Africa: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Usd Million) 168
Table 148 Middle East & Africa: Composites In Oil & Gas Industry Market, By Fiber Type, 2018–2022 (Kiloton) 168
Table 149 Middle East & Africa: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Usd Million) 169
Table 150 Middle East & Africa: Composites In Oil & Gas Industry Market, By Fiber Type, 2023–2028 (Kiloton) 169
9.6.4 Middle East & Africa: Composites In Oil & Gas Industry Market, By Application 170
Table 151 Middle East & Africa: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Usd Million) 170
Table 152 Middle East & Africa: Composites In Oil & Gas Industry Market, By Application, 2018–2022 (Kiloton) 170
Table 153 Middle East & Africa: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Usd Million) 171
Table 154 Middle East & Africa: Composites In Oil & Gas Industry Market, By Application, 2023–2028 (Kiloton) 171
9.6.5 Middle East & Africa: Composites In Oil & Gas Industry Market, By Country 172
Table 155 Middle East & Africa: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Usd Million) 172
Table 156 Middle East & Africa: Composites In Oil & Gas Industry Market, By Country, 2018–2022 (Kiloton) 172
Table 157 Middle East & Africa Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Usd Million) 173
Table 158 Middle East & Africa: Composites In Oil & Gas Industry Market, By Country, 2023–2028 (Kiloton) 173
9.6.6 Saudi Arabia 174
9.6.6.1 Increasing Global Supply Of Oil & Gas To Drive Market During Forecast Period 174
9.6.7 Uae 174
9.6.7.1 Recent Exploration And Increased Oil & Gas Production Capacity To Drive Market 174
9.6.8 Qatar 174
9.6.8.1 New Exploration Agreements And Involvement Of Global Players To Boost Demand For Composites In Oil & Gas Industry 174
9.6.9 Nigeria 175
9.6.9.1 Exploration By Countries Such As China To Open New Avenues For Oil & Gas Industry 175
9.6.10 Rest Of Middle East & Africa 175

10 Competitive Landscape 176
10.1 Introduction 176
10.2 Market Share Analysis 176
Figure 43 Share Of Top Companies In Composites In Oil & Gas Industry Market, 2021 176
Table 159 Degree Of Competition 177
10.3 Market Ranking 177
Figure 44 Ranking Of Top Five Players In Composites In Oil & Gas Industry Market 178
10.4 Revenue Analysis Of Top Market Players 178
Figure 45 Revenue Analysis 178
10.5 Company Evaluation Matrix 179
Table 160 Company Product Footprint 179
Table 161 Company Application Footprint 179
Table 162 Company Region Footprint 180
10.6 Competitive Landscape Mapping 180
10.6.1 Stars 180
10.6.2 Pervasive Players 180
10.6.3 Participants 181
10.6.4 Emerging Leaders 181
Figure 46 Competitive Leadership Mapping, 2022 181
10.6.5 Strength Of Product Portfolio 182
Figure 47 Product Portfolio Analysis Of Top Players In Composites In Oil & Gas Industry Market 182
10.6.6 Business Strategy Excellence 183
Figure 48 Business Strategy Excellence Of Top Players In Composites In Oil & Gas Industry Market 183
10.7 Competitive Scenario And Trends 183
Table 163 Deals, 2017–2023 183
Table 164 Other Developments, 2017–2023 190
10.8 Competitive Benchmarking Of Key Startups/Smes 191
Table 165 Key Startups/Smes 191
Table 166 Competitive Benchmarking Of Key Startups/Smes 192
10.9 Small And Medium-Sized Enterprises (Sme) Evaluation Matrix 193
10.9.1 Progressive Companies 193
10.9.2 Responsive Companies 193
10.9.3 Dynamic Companies 193
10.9.4 Starting Blocks 193
Figure 49 Small And Medium-Sized Enterprises Mapping, 2022 194

11 Company Profiles 195
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Mnm View)*
11.1 Key Companies 195
11.1.1 Strohm 195
Table 167 Strohm: Company Overview 195
11.1.2 Nov Inc. 201
Table 168 Nov Inc.: Company Overview 201
Figure 50 Nov Inc.: Company Snapshot 202
11.1.3 Baker Hughes 207
Table 169 Baker Hughes: Company Overview 207
Figure 51 Baker Hughes: Company Snapshot 208
11.1.4 Slb 211
Table 170 Slb: Company Overview 211
Figure 52 Slb: Company Snapshot 212
11.1.5 Shawcor 215
Table 171 Shawcor: Company Overview 215
Figure 53 Shawcor: Company Snapshot 215
11.1.6 Halliburton 218
Table 172 Halliburton: Company Overview 218
Figure 54 Halliburton: Company Snapshot 219
11.1.7 Technipfmc Plc 223
Table 173 Technipfmc Plc: Company Overview 223
Figure 55 Technipfmc Plc: Company Snapshot 224
11.1.8 Saudi Arabian Amiantit Co. 227
Table 174 Saudi Arabian Amiantit Co.: Company Overview 227
Figure 56 Saudi Arabian Amiantit Co.: Company Snapshot 228
11.1.9 Weatherford International Plc 231
Table 175 Weatherford International Plc: Company Overview 231
Figure 57 Weatherford International Plc: Company Snapshot 232
11.1.10 Future Pipe Industries 235
Table 176 Future Pipe Industries: Company Overview 235
11.2 Other Players 239
11.2.1 Vello Nordic As 239
Table 177 Vello Nordic As: Company Overview 239
11.2.2 Enduro Composites Inc. 240
Table 178 Enduro Composites Inc: Company Overview 240
11.2.3 Fiberglass Grating Systems 241
Table 179 Fiberglass Grating Systems: Company Overview 241
11.2.4 Containment Solutions, Inc. 242
Table 180 Containment Solutions, Inc.: Company Overview 242
11.2.5 Hengrun Group Co., Ltd. 243
Table 181 Hengrun Group Co., Ltd.: Company Overview 243
11.2.6 Lianyungang Zhongfu Lianzhong Composites Group., Ltd. 244
Table 182 Lianyungang Zhongfu Lianzhong Composites Group., Ltd.: Company Overview 244
11.2.7 L.F. Manufacturing, Inc. 245
Table 183 L.F. Manufacturing, Inc.: Company Overview 245
11.2.8 Palmer Manufacturing & Tank Inc. 246
Table 184 Palmer Manufacturing & Tank Inc.: Company Overview 246
11.2.9 The Gund Company, Inc. 247
Table 185 The Gund Company, Inc.: Company Overview 247
11.2.10 Flowserve Corporation 248
Table 186 Flowserve Corporation : Company Overview 248
11.2.11 Sundyne 249
Table 187 Sundyne: Company Overview 249
11.2.12 Timken Company 250
Table 188 Timken Company: Company Overview 250
11.2.13 Valvtechnologies 251
Table 189 Valvtechnologies: Company Overview 251
11.2.14 Wolf Kunststoff-Gleitlager Gmbh 251
Table 190 Wolf Kunststoff-Gleitlager Gmbh: Company Overview 251
11.2.15 Sealmax 252
Table 191 Sealmax: Company Overview 252
*Details On Business Overview, Products/Solutions/Services Offered, Recent Developments, Mnm View Might Not Be Captured In Case Of Unlisted Companies.

12 Appendix 253
12.1 Knowledgestore: Marketsandmarkets’ Subscription Portal 255
12.2 Customization Options 257
12.3 Related Reports 257
12.4 Author Details 258

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