A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Composites
in Oil and Gas
Market. The
study, titled “Composites
in Oil and Gas Market - Global Industry Analysis, Size, Share,
Trends, and Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Composites
in Oil and Gas Market: Overview
The
oil & gas industry needs to meet certain technical,
technological, and economic requirements. This is especially observed
in materials employed in construction, which are expected to
withstand corrosion, fatigue, and weight. These factors contribute to
increased risk and cost of offshore projects.
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Composites
are used due to their unique properties, which make them suitable for
demanding applications in the oil & gas industry. They have the
advantage of being low in weight, which eliminates the need for large
and exorbitant buoyancy tanks. Composites are inexpensive to install,
extremely corrosion-resistant, and well-suited to increased operating
pressures.
Composites
are made by matrix combination of different materials. The most
commonly used composites are formed by combining epoxy, phenolic, or
polymer (polyethylene, poly-vinyl-denefluoride, and polyamide) matrix
with glass fibers, carbon fibers, or aramid fibers.
Composites
in Oil and Gas Market: Applications
Glass-fiber
reinforced polymer (GFRP) composites are used in piping systems for
applications such as oil exploration, desalination, chemical plants,
fire mains, dredging, and portable water. They enable the piping
systems to withstand highly corrosive fluids at various temperatures,
pressures, and in adverse weather and soil conditions.
Composite
grinds/gratings perform better than traditional, metallic
grinds/gratings, due to their superior properties under harsh
environments in the chemical process industry. They are preferred due
to their ability to overcome limitations with respect to weight,
corrosion resistance, durability, and lifecycle costs.
Composite
ladders are stronger than wood or aluminum and they do not rot,
corrode, or absorb water.
During
the construction of a riser (a pipeline that connects the rig of
water surface to the well bore at seabed), thermoplastic polymer
matrix reinforced with glass or carbon fibers is used. This matrix is
wound around its steel reinforcement, which drastically reduces its
weight. In some cases, epoxy matrix reinforced with carbon fibers may
be used.
In
the construction of pipe systems for fluid transport and storage
tanks, fiberglass composites are used. They are formed by combining
polymer matrix (generally, epoxy matrix and vinyl ester matrix) with
glass fibers.
Tubings
are usually produced from GRE pipes or GRE pipes reinforced with
carbon steel, which provide resistance to high pressure in down-hole
applications.
Composites
in Oil and Gas Market: Trends
There
has been major advances in the fields of composite pipe work and
fluid handling. Cost-cutting due to composites replacing steel piping
in retrofit applications is a major driver for the market. Cost
advantage can also be witnessed during the manufacturing process of
risers, tubings, and storage and transport systems in offshore
platforms when composites are used in place of expensive
corrosion-resistant metals. Another important propellant for the
market is amplified longevity of new, reliable, safe, and
cost-effective construction, which can withstand severe conditions
anticipated in an offshore environment.
Composites
in Oil and Gas Market: Segmentation
In
terms of matrix materials, the composites in oil and gas market can
be segmented into six segments: epoxy, phenolic, polymers, glass
fibers, carbon fibers, and aramid fibers.
Based
on product type, the market has been divided into: glass reinforced
plastic (GRP), glass reinforced epoxy resin (GRER), glass reinforced
vinyl ester (GRVE), and reinforced thermoplastic (RTP).
In
terms of application, the market has been segmented into: piping
systems, grinds/gratings, ladders, flexible tubes, composite risers,
and caissons & pull tubes.
Composites
in Oil and Gas Market: Region-wise Outlook
In
terms of volume, the U.S. and China are prominent consumers of
composites. North America is likely to remain the key region owing to
the rising number of natural gas infrastructure projects and growing
awareness about advantages of composite materials in the region. The
market in the region is expanding also due to the rise in demand for
high-performance lightweight materials and new products developed
using them.
Composites
in Oil and Gas Market: Key Players
Key
players operating in the composites in oil and gas market include
Creative Composites Ltd., National Composites Center, Pipex Limited,
and Solent Composite Systems Ltd., CIP Composites, Magnum Oil Tools,
Forum Energy Technologies, GE Oil & Gas, and Magma Global
Limited.
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to view Sample Report:
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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