| Product Code: ETC13298465 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Shubham Deep | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Composites in Oil and Gas Industry Market was valued at USD 2.1 Billion in 2024 and is expected to reach USD 3.7 Billion by 2031, growing at a compound annual growth rate of 6.58% during the forecast period (2025-2031).
The global composites in oil and gas industry market is experiencing significant growth due to the increasing demand for lightweight and corrosion-resistant materials in the sector. Composites, such as carbon fiber, fiberglass, and aramid, offer superior strength-to-weight ratios and durability, making them ideal for various applications in oil and gas exploration, production, and transportation. These materials are being increasingly adopted for pipes, tanks, offshore structures, and other components to enhance performance, extend asset life, and reduce maintenance costs. The market is also driven by the need for sustainable solutions to minimize environmental impacts and improve operational efficiency. Key players in the industry are investing in research and development to innovate new composite materials and technologies tailored to meet the evolving demands of the oil and gas sector.
The Global Composites in Oil and Gas Industry Market is witnessing a growing trend towards the use of advanced composite materials for various applications such as pipes, tanks, and offshore structures. Key opportunities in this market include the increasing demand for lightweight and corrosion-resistant materials in the oil and gas industry, as well as the emphasis on improving operational efficiency and reducing maintenance costs. With the rising focus on environmental sustainability and stringent regulations, composites offer a viable solution due to their durability and long lifespan. Additionally, the market is seeing advancements in composite manufacturing technologies, leading to the development of high-performance materials that can withstand harsh operating conditions in the oil and gas sector. Overall, the market presents promising prospects for growth and innovation in the coming years.
The Global Composites in Oil and Gas Industry Market faces several challenges, including the high cost of raw materials and manufacturing processes, stringent regulations and standards for safety and environmental protection, limited adoption of composites due to traditional industry practices, and the need for specialized expertise in design and installation. Additionally, the cyclical nature of the oil and gas industry and fluctuating oil prices impact investment decisions and project timelines, leading to uncertainty for composite manufacturers and suppliers. Overcoming these challenges requires continuous innovation in composite materials and processes, collaboration between industry stakeholders to develop standards and best practices, and targeted marketing efforts to increase awareness and acceptance of composites in oil and gas applications.
The global composites in the oil and gas industry market is primarily driven by the increasing demand for lightweight and corrosion-resistant materials in various applications such as pipes, tanks, and platforms. Composites offer superior strength-to-weight ratio compared to traditional materials like steel, leading to reduced maintenance costs and improved durability in harsh operating environments. Additionally, stringent regulations focusing on safety and environmental protection are prompting oil and gas companies to adopt composites for their non-corrosive and non-conductive properties. The growing exploration and production activities in offshore and deep-sea drilling operations further propel the demand for composites due to their high resistance to corrosion and fatigue. Overall, the shift towards composites in the oil and gas industry is driven by the need for cost-effective, durable, and sustainable solutions.
Government policies related to the Global Composites in Oil and Gas Industry Market include regulations aimed at promoting safety, environmental sustainability, and efficiency in the sector. This includes standards for the use of composite materials in oil and gas operations to ensure structural integrity and prevent corrosion. Additionally, governments may offer incentives or grants to encourage the adoption of composites in the industry as a means of reducing carbon emissions and promoting innovation. Some regions may also have specific regulations regarding the disposal and recycling of composite materials to minimize environmental impact. Overall, government policies play a crucial role in shaping the adoption and growth of composites in the oil and gas industry by setting standards and providing support for sustainable practices.
The Global Composites in Oil and Gas Industry Market is expected to witness significant growth in the coming years, driven by increasing demand for lightweight and corrosion-resistant materials in the oil and gas sector. Composites offer benefits such as high strength-to-weight ratio, durability, and resistance to harsh environmental conditions, making them ideal for various applications including pipelines, tanks, and offshore structures. The market is also likely to be propelled by the growing focus on operational efficiency and cost reduction in the industry. Additionally, advancements in composite materials technology, including the development of new resin systems and fiber reinforcements, are expected to further drive market growth. However, challenges such as high initial costs and limited awareness about the benefits of composites may hinder the market expansion to some extent.
In the global composites in the oil and gas industry market, Asia is experiencing significant growth due to the rising demand for energy and infrastructure development projects. North America is a mature market with a strong focus on technological advancements and innovation in composites for oil and gas applications. Europe is also a key player in the market, driven by stringent regulations promoting the use of lightweight and corrosion-resistant materials. The Middle East and Africa region is witnessing steady growth in composites adoption, particularly in offshore drilling activities. Latin America is emerging as a promising market with increasing investments in oil and gas exploration activities, driving the demand for composites for their durability and cost-efficiency in harsh environments.
Global Composites in Oil and Gas Industry Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Composites in Oil and Gas Industry Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Composites in Oil and Gas Industry Market Revenues & Volume, 2021 & 2031F |
3.3 Global Composites in Oil and Gas Industry Market - Industry Life Cycle |
3.4 Global Composites in Oil and Gas Industry Market - Porter's Five Forces |
3.5 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By Material Type, 2021 & 2031F |
3.7 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.9 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.10 Global Composites in Oil and Gas Industry Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Global Composites in Oil and Gas Industry Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Composites in Oil and Gas Industry Market Trends |
6 Global Composites in Oil and Gas Industry Market, 2021 - 2031 |
6.1 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Thermoplastic Composites, 2021 - 2031 |
6.1.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Carbon Fiber Composites, 2021 - 2031 |
6.1.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Fiberglass Composites, 2021 - 2031 |
6.1.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Hybrid Composites, 2021 - 2031 |
6.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Pipelines, 2021 - 2031 |
6.2.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Offshore Rigs, 2021 - 2031 |
6.2.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Storage Tanks, 2021 - 2031 |
6.2.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Downhole Equipment, 2021 - 2031 |
6.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Drill Pipes, 2021 - 2031 |
6.3.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Platform Decks, 2021 - 2031 |
6.3.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Pressure Vessels, 2021 - 2031 |
6.3.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Casing & Tubing, 2021 - 2031 |
6.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Filament Winding, 2021 - 2031 |
6.4.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Resin Infusion, 2021 - 2031 |
6.4.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Vacuum-Assisted Resin Transfer Molding, 2021 - 2031 |
6.4.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Automated Layup, 2021 - 2031 |
6.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Oil & Gas Companies, 2021 - 2031 |
6.5.3 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Offshore Drilling Firms, 2021 - 2031 |
6.5.4 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Refinery Operators, 2021 - 2031 |
6.5.5 Global Composites in Oil and Gas Industry Market, Revenues & Volume, By Petrochemical Plants, 2021 - 2031 |
7 North America Composites in Oil and Gas Industry Market, Overview & Analysis |
7.1 North America Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
7.2 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
7.4 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
7.5 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
7.6 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
7.7 North America Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
8 Latin America (LATAM) Composites in Oil and Gas Industry Market, Overview & Analysis |
8.1 Latin America (LATAM) Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
8.4 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
8.5 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
8.6 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
8.7 Latin America (LATAM) Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
9 Asia Composites in Oil and Gas Industry Market, Overview & Analysis |
9.1 Asia Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
9.4 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
9.5 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
9.6 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
9.7 Asia Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
10 Africa Composites in Oil and Gas Industry Market, Overview & Analysis |
10.1 Africa Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
10.4 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
10.5 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
10.6 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
10.7 Africa Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
11 Europe Composites in Oil and Gas Industry Market, Overview & Analysis |
11.1 Europe Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
11.4 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
11.5 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
11.6 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
11.7 Europe Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
12 Middle East Composites in Oil and Gas Industry Market, Overview & Analysis |
12.1 Middle East Composites in Oil and Gas Industry Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Composites in Oil and Gas Industry Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By Material Type, 2021 - 2031 |
12.4 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By Application, 2021 - 2031 |
12.5 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By Component, 2021 - 2031 |
12.6 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By Technology, 2021 - 2031 |
12.7 Middle East Composites in Oil and Gas Industry Market, Revenues & Volume, By End User, 2021 - 2031 |
13 Global Composites in Oil and Gas Industry Market Key Performance Indicators |
14 Global Composites in Oil and Gas Industry Market - Export/Import By Countries Assessment |
15 Global Composites in Oil and Gas Industry Market - Opportunity Assessment |
15.1 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By Material Type, 2021 & 2031F |
15.3 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By Application, 2021 & 2031F |
15.4 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By Component, 2021 & 2031F |
15.5 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By Technology, 2021 & 2031F |
15.6 Global Composites in Oil and Gas Industry Market Opportunity Assessment, By End User, 2021 & 2031F |
16 Global Composites in Oil and Gas Industry Market - Competitive Landscape |
16.1 Global Composites in Oil and Gas Industry Market Revenue Share, By Companies, 2024 |
16.2 Global Composites in Oil and Gas Industry Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |