Global Composites In Oil and Gas Industry Market - By Resin Type (Epoxy, Polyester, Phenolic, And Others), Fiber Type (Glass Fiber And Carbon Fiber), Application (Pipes, Tanks, Top Side Applications, And Others), And Region - Global Industry Analysis, Size, Share, Growth, Investment, Forecast Report (2025 to 2033)
The global composites in the oil and gas industry market size was calculated to be USD 3.13 billion in 2024 and is anticipated to be worth USD 6.01 billion by 2033, growing from USD 3.37 billion in 2025 at a CAGR of 7.50% during the forecast period.
On the basis of Resin Type
The epoxy segment of resin type had the largest market value and volume in 2018. The wide applicability of epoxy resin is the major reason for its quick-rising growth.
On the basis of Fiber Type
Of the mentioned types of fibers, carbon fiber is expected to lead the market by the end of the forecast period, due to its unique properties like high mechanical strength.
On the basis of Application
Among the different applications mentioned the pipes segment is expected to have the highest CAGR in the aforementioned forecast period. This growth is attributed to the growing hydraulic fracturing activities and rises in the production of shale gas, which in turn raises the demand for composite flowlines, jumpers, risers, etc.
| REPORT METRIC | DETAILS |
| Market Size Available | 2024 to 2033 |
| Base Year | 2024 |
| Forecast Period | 2025 to 2033 |
| CAGR | 7.5% |
| Segments Covered | Basis of Resin Type, Fiber Type, Application, And Region |
| Various Analyses Covered | Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Market Leaders Profiled | Oil & Gas (Netherlands), Creative Composites Ltd. (India), GE Oil & Gas (UK), Strongwell Corporation (U.S.), National Composites Center (UK), Magma Global Limited (UK), Enduro Composites, Inc. (U.S.), Pipex Limited (UK), National Oilwell Varco (US), Solent Composite Systems Ltd. (UK), Vello Nordic AS (Norway), CIP Composites (Columbia), Schlumberger Limited (US), ZCL Composite (Canada), Magnum Oil Tools (US), Halliburton (US), |
The Asia Pacific region is anticipated to lead the global market with the highest growth rate in the forecast period, due to the increased scope of future opportunities, and demand for growing industries mainly in developing countries like Japan, India, and China. The market value of Europe was the highest in the year 2018 but may not continue to lead the global market due to the dominance of the Asia Pacific region.
North America considerably has moderate market value and growth in the forecast period. A well-established economy like North America has such moderate market growth due to the economic crisis which makes leading competitors in this market shift their area of operation to the Asia Pacific through mergers and agreements. Also, the slow growth rate in these regions is the result of regional advantages gained by companies in the Asia Pacific like cheap labor and ease of resource availability. These advantages make the market centered in the Asia Pacific hence forcing Europe and North America to have slow growth in the aforementioned forecast period.
The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Composites in the Oil and Gas Industry market in these regions are slow-growing in nature. However, the Middle East alone may witness steep growth due to the rise in industrial activities related to oil and gas in this region.
Airborne Oil & Gas, a Netherlands gas & oil composites market leader, has announced the merger with Renato Bastos to form V.P Brazil to strengthen itself in the Brazilian market. However, Renato is responsible for dynamic applications in Deepwater Brazil and delivering the company with guidelines to qualify the thermoplastic composite pipeline (TCP).
Major companies plying their trade in the Composites In Oil And Gas Industry Market include Oil & Gas (Netherlands), Creative Composites Ltd. (India), GE Oil & Gas (UK), Strongwell Corporation (U.S.), National Composites Center (UK), Magma Global Limited (UK), Enduro Composites, Inc. (U.S.), Pipex Limited (UK), National Oilwell Varco (US), Solent Composite Systems Ltd. (UK), Vello Nordic AS (Norway), CIP Composites (Columbia), Schlumberger Limited (US), ZCL Composite (Canada), Magnum Oil Tools (US), Halliburton (US), and Forum Energy Technologies (US) are the leading shareholders of the Global Oil & Gas Composites market. Most of these companies are currently into the development of advanced products and are focused on expansion strategies to improve their market value and position.
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