The future of the composites in the oil and gas industry looks promising with opportunities in pipes, tanks, pultruded products, frac plugs and frac balls, and others. The composites in the global oil and gas industry declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $1.4 billion by 2026 with a CAGR of 6.5% from 2021 to 2026. The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.

Emerging trends, which have a direct impact on the dynamics of the industry, are the emergence of introduction of carbon fiber for oil and gas applications and on-site construction of FRP pipes to any length and diameter which exclude transportation and installation cost. Owens corning, Jushi, CPIC, Nippon Electric Glass Co. Ltd., Huntsman, Hexion, and Olin Corporation are among the leading players of composites material in global oil and gas industry.

A total of 98 figures / charts and 62 tables are provided in this 194-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the composites in the global oil and gas industry report, please download the report brochure.



The study includes trends and forecast for the composites in the global oil and gas industry by end use industry, by product, and region as follows:

By End Use Application [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • Pipes
  • Tanks
  • Pultruded Products
  • Frac Plugs and Frac Balls
  • Others


By Resin Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • Epoxy Composites
  • Polyester Composites
  • Phenolic Composites
  • Polyethylene Composites


By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world


In this market, polyester, epoxy, phenolic, and polyethylene composites are the materials used to manufacture various composite parts for oil and gas industry. Lucintel predicts that the demand for epoxy composites is expected to experience the highest growth in the forecast period, supported by its high performance characteristics such as low shrinkage, excellent adhesion, effective electrical insulation, high chemical, and solvent resistance properties.

Within the composites in the oil and gas industry, pipe application is expected to remain as the largest market by value and volume consumption and it is also expected to experience the highest growth in the forecast period. Increases in oil and gas production and exploration activity on both onshore and offshore production sites have increased the demand for pipes are the major driving forces that spur the growth for this segment over the forecast period.

North America is expected to remain the largest market due to growth in natural gas infrastructure projects, and awareness on the advantages of composite materials for oil and gas over traditional material.


Features of the Global Composites in the Oil and Gas Industry

  • Market Size Estimates: Composites in the oil and gas industry size estimation in terms of value ($M) and volume (M lbs) shipment
  • Trend and Forecast Analysis: Composites in the oil and gas industry trends (2015-2020) and forecast (2021-2026) by various segments and regions.
  • Segmentation Analysis: Composites in the oil and gas industry size by various segments, such as end use application, by resin type, and regions in terms of value and volume.
  • Regional Analysis: Composites in the oil and gas industry breakdown by North America, Europe, Asia Pacific, and Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different end use application, by product, and regions for the composites in the global oil and gas industry.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites in the global oil and gas industry.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.




This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the composites in the global oil and gas industry by end use application, by resin, and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the composites in the global oil and gas industry?
Q.5 What are the business risks and threats to the composites in the global oil and gas industry?
Q.6 What are emerging trends in this composites in the global oil and gas industry and the reasons behind them?
Q.7 What are some changing demands of customers in the composites in the global oil and gas industry?
Q.8 What are the new developments in the composites in the global oil and gas industry? Which companies are leading these developments?
Q.9 Who are the major players in the composites in the global oil and gas industry? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the composites in the global oil and gas industry, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the composites in the global oil and gas industry?