石油・ガス産業における複合材料の市場:樹脂タイプ(エポキシ、コンポジット、ポリエステル、フェノール)、繊維タイプ(カーボン、ガラス)、用途(パイプ、タンク、トップサイドアプリケーション、ポンプ&コンプレッサー)、地域別 - 2028年までの世界予測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 石油・ガス産業におけるコンポジット市場は、2022年の23億ドルから2028年には34億ドルに成長すると予測され、予測期間中の年平均成長率は6.1%です。石油・ガス産業の過酷な条件に耐える耐久性のある複合材料への... もっと見る
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サマリー石油・ガス産業におけるコンポジット市場は、2022年の23億ドルから2028年には34億ドルに成長すると予測され、予測期間中の年平均成長率は6.1%です。石油・ガス産業の過酷な条件に耐える耐久性のある複合材料へのニーズが高まっているため、市場の拡大が予想されます。複合材料は、鋼鉄などの従来の材料に比べて大幅に軽量で強度が高いため、石油・ガス産業にとって魅力的な選択肢となっています。また、これらの材料は特定の性能要件を満たすようにカスタマイズすることができ、深海掘削のような厳しい環境にも最適です。石油・ガス産業は、効率と生産性を向上させる新しい方法を常に模索しており、新しい複合材料の開発は、活発な研究と革新の分野です。新しい素材や技術が利用できるようになれば、業界の成長と発展の原動力となり続けるでしょう。''金額ベースでは、石油・ガス産業におけるコンポジット市場全体で、炭素繊維タイプのセグメントが2番目に大きなシェアを占めた。'' 繊維の種類に基づくと、炭素繊維セグメントは、オイル&ガス産業におけるコンポジット市場全体で2番目に大きなシェアを占めています。炭素繊維複合材料は、鉄などの従来の材料よりもはるかに軽量でありながら、非常に高い強度を有しています。そのため、軽量化が重要なライザーなどの海洋構造物に最適です。炭素繊維複合材料は、複雑な形状に成形することが容易であるため、設計の柔軟性やカスタマイズ性に優れています。炭素繊維複合材料のユニークな特性は、軽量化と強度・剛性の向上により、ドリルパイプなどの石油・ガス機器の性能を向上させることができます。このような要因が、石油・ガス産業におけるコンポジットに含まれる炭素繊維の市場成長を促進しています。 "''金額ベースでは、石油・ガス産業におけるコンポジット市場全体で、ポリステル樹脂タイプのセグメントが2番目に大きなシェアを占めている''。 樹脂の種類別では、ポリエステル樹脂が石油・ガス産業用コンポジット市場全体の2番目に大きなシェアを占めています。ポリエステル樹脂コンポジットは、その汎用性と費用対効果の高さから、石油・ガス産業で一般的に使用されています。ポリエステル樹脂コンポジットは耐腐食性に優れているため、石油・ガス産業で腐食性物質を貯蔵・輸送するためのタンクやパイプの建設に適しています。また、プラットフォーム、歩道、階段などの海洋構造物にも利用されています。これらの構造物は、過酷な海洋環境に耐えることができ、軽量であるため、輸送や設置のコストを削減することができます。ポリエステル樹脂コンポジットは、石油やガスのパイプラインやタンクの断熱材として使用でき、優れた断熱性を発揮してエネルギー損失を低減します。ポリエステル樹脂コンポジットの優れた特性は、石油・ガス産業での需要を後押ししています。 "予測期間中、ヨーロッパ地域のオイル&ガス産業におけるコンポジット市場は、2番目に高いシェアを記録すると予測されています。" 石油・ガス産業におけるコンポジット市場は、北米、ヨーロッパ、アジア太平洋、中東・アフリカ、中南米で調査されています。北米は、2022年に最大の市場シェアをサクセスしています。ヨーロッパは、2022年に2番目に大きな市場シェアを占めています。ヨーロッパ市場は、今後数年間で大きな成長を遂げるでしょう。なぜなら、世界とヨーロッパ地域でエネルギー需要が増加しており、石油とガスを抽出し処理するための、より効率的で費用対効果の高い方法の必要性が高まっているからです。複合材料は、軽量化、耐腐食性の向上、性能の向上により、これらの目標を達成するのに役立ちます。また、探査の面では、この地域、特に北海で大きな発見がありました。2019年、Equinorとそのパートナーは、北海のノルウェー部門で、3800万から1億バレルの原油換算量があると推定される石油とガスの発見を発表しました。これらの要因は、市場の世界的な拡大に寄与しています。 本調査は、全世界の業界専門家への一次インタビューを通じて検証されたものです。これらの一次情報源は、以下の3つのカテゴリーに分類されています: - 企業タイプ別- Tier 1 37%、Tier 2 33%、Tier 3 30 - 役職別:Cレベル50%、ディレクターレベル20%、その他30%。 - 地域別:北米15%、欧州50%、アジア太平洋(APAC)20%、中南米5%、中東・アフリカ(MEA)10%。 本レポートでは、企業プロファイルを包括的に分析しています: 著名な企業としては、Baker Hughes(米国)、Strohm(オランダ)、NOV Inc.(米国)、SLB(Schlumberger N.V.)(米国)、Halliburton(米国)、Shawcor(カナダ)、TechnipFMC plc(英国)などがあります。 調査対象 この調査レポートは、石油・ガス産業における複合材料市場を、樹脂タイプ(エポキシ、ポリエステル、フェノール、その他)、繊維タイプ(カーボン、ガラス、その他)、用途(パイプ、タンク、トップサイドアプリケーション、ポンプ&コンプレッサー、その他)&地域(北米、欧州、アジア太平洋、中東&アフリカ、中南米)別に分類しています。本レポートの範囲は、石油・ガス産業における複合材料市場の成長に影響を与える促進要因、阻害要因、課題、機会などの主要要因に関する詳細情報を網羅しています。主要な業界プレイヤーを詳細に分析し、事業概要、ソリューション、サービス、主要戦略、契約、パートナーシップ、協定、新製品・サービスの発表、M&A、石油・ガス産業のコンポジット市場に関連する最近の動向についての洞察を提供します。石油・ガス産業の複合材料市場のエコシステムにおける今後の新興企業の競争分析については、本レポートで取り上げています。 本レポートを購入する理由 本レポートは、石油・ガス産業における複合材料市場全体とサブセグメントの収益数の最も近い近似値に関する情報を提供し、この市場のマーケットリーダー/新規参入者の助けとなります。本レポートは、利害関係者が競争環境を理解し、より多くの洞察を得ることで、自社のビジネスをより良く位置づけ、適切な市場参入戦略を計画するのに役立つことでしょう。また、本レポートは、関係者が市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、および機会に関する情報を提供します。 本レポートは、以下のポイントに関する洞察を提供します: - 主要な促進要因(石油・ガス産業における非腐食性・軽量材料の需要の増加、複合材料の長いライフサイクルと低いメンテナンスコスト)、抑制要因(原油価格の変動、高い加工・製造コスト。製造技術の標準化の欠如)、機会 油圧破砕のブームが複合材料に新たな機会を提供)、課題(高い製造コストと低コストの代替品の利用可能性)が石油・ガス産業における複合材料の市場成長に影響を与える。 - 製品開発/イノベーション:石油・ガス産業における複合材料市場における今後の技術、研究開発活動、新製品・サービスの発売に関する詳細な洞察 - 市場開拓:有利な市場に関する包括的な情報 - 当レポートは、さまざまな地域の石油・ガス産業における複合材料市場を分析しています。 - 市場の多様化:石油・ガス産業用複合材料市場における新製品・サービス、未開拓の地域、最近の開発、投資に関する情報を網羅的に提供します。 - 競争力のある評価:石油・ガス産業における複合材料市場におけるBaker Hughes社(米国)、Strohm社(オランダ)、NOV社(米国)、SLB社(Schlumberger N.V)(米国)、Halliburton社(米国)、Shawcor社(カナダ)、TechnipFMC plc(英国)などの主要企業の市場シェア、成長戦略、サービス提供状況を詳細に分析します。 目次1 INTRODUCTION 331.1 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
SummaryThe 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. Table of Contents1 INTRODUCTION 331.1 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
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