"Composites in Oil and Gas Industry Market Global Forecasts to 2021 " is a professional and in-depth study.
MRRS adds "Composites in Oil and Gas Industry Market Global Forecasts to 2021 " latest studies,published in December 2016. It is a professional and in-depth study.
The market size of composites in oil & gas industry is projected to reach USD 1.98 billion by 2021, registering a CAGR of 5.05% between 2016 and 2021. The increasing demand of non-corrosive and lightweight materials in the oil & gas industry along with long life cycle and low maintenance cost of composites are the major factors fueling the growth of the global market of composites in oil & gas industry.
“Pipes: The fastest-growing application of the market of composites in oil & gas industry”
The market of composites in oil & gas industry is driven by increase in the production of shale gas and improved hydraulic fracturing methods, thereby increasing the demand of composites pipes, risers, jumpers, flowline, and others. This is because these composite components offers complete solutions against highly corrosive fluids and harsh environment conditions at various temperature, pressure, adverse weather, and soil conditions. This growth is attributed to the growing exploration of untapped resources and growing demand for energy.
“North America: The fastest-growing market of composites in oil & gas industry”
North America is the largest and fastest-growing market of composites in oil & gas industry. The rising demand for high-performance and lightweight materials and increasing new product launches & other development strategies in the region lead to the growth of the market of composites in oil & gas industry in this region.
Figure And Tables
TABLE 1 OIL & GAS COMPOSITES MARKET SIZE (USD MILLION AND KILOTON), 2014–2021 27
TABLE 2 TRENDS AND FORECAST OF GDP, USD BILLION 35
TABLE 3 PER CAPITA GDP VS. PER CAPITA COMPOSITE MATERIALS DEMAND, 2015 37
TABLE 4 TREND OF OIL PRODUCTION, THOUSAND BARRELS PER DAY (2011-2015) 38
TABLE 5 TREND OF OIL CONSUMPTION, THOUSAND BARRELS PER DAY (2011-2015) 40
TABLE 6 TREND OF GAS PRODUCTION, BILLION CUBIC METERS (2011-2015) 41
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