The global Composites in Oil & Gas Industry Market is projected to spread at a substantial pace in the near future. Increasing demand for oil exploration and drilling is fueling the growth of this market where the composites of oil and gas play an important role in exploring the oil.
What are composites in oil and gas industry?
Composites in oil and gas industry are recognized as an enabling technology deep water drilling conditions. These composites widely used because of their ability stand up to the harsh subsea environment enables oil and gas explorers retrieve reserves at deeper sea-floor depths.
What are the applications of composites in oil& gas?
Oil and gas composites are extensively used in various industries due to their unique properties, which make them fit for demanding applications in the oil & gas industry.
Glass-Fiber reinforced polymer (GFRP) of oil and gas composites are used in in piping systems for different applications such as desalination, oil exploration, chemical plants, dredging and fire mains.
Oil and gas composites have gained recognition in fossil fuel sector where corrosion resistance, low weight and performance in difficult high- pressure conditions help in saving money.
Market Research and Market Trends of Composites in Oil & Gas Industry Market
- There has been massive progress in the fields of fluid management and pipe work. Composites replacing the steel piping in backport applications has been the major driver of composites in oil and gas industry market.
- Replacements of corrosion- resistant metals with composites in manufacturing risers, tubing help industries witness the cost cutting in their operations. The market is also being propelled by new, safe, reliable and cost effective construction which can withstand severe condition when offshore.
Who are the Major Players Composites in Oil & Gas Industry Market?
The companies referred to in the market research report include Creative Composites Ltd., National Composites Center, Pipex Limited, Solent Composite Systems Ltd, CIP Composites, Magnum Oil Tools, Forum Energy Technologies, GE Oil & Gas, Magma Global Limited and other players who contribute to the growth of this market.
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