• Composites are winning favor for operational resilience, offering lightweight, high-strength, and corrosion-resistant solutions that enhance durability, reduce maintenance, and improve cost efficiency in oil and gas operations.

• Sustainability gains traction as composites extend equipment lifespan and lower carbon footprints, aligning with regulatory and environmental goals for greener energy practices.

• Manufacturing technology improvements like automated fiber placement, resin transfer molding, and 3D-printing are enabling faster, cheaper, and more versatile composite applications.

• Adoption still limited, with only around one-fifth of operators using composites, mainly due to low awareness of benefits and lack of standardized durability testing.

• Technological innovation accelerates material performance through advanced resins, reinforcement fibers, and hybrid composites suited for harsh offshore, subsea, and high-pressure environments.

• Asia Pacific and North America lead adoption, driven by rising energy infrastructure investments and modernization efforts in these regions.

• Major players redefine competition, with leaders like Hexcel, DuPont, Mitsubishi Chemical, and BASF advancing R&D to strengthen their foothold in the composites landscape.

• In June 2025, DNOW announced an all-stock merger with MRC worth $1.5 billion, forming a distribution leader with 350+ locations. MRC shareholders will receive 0.9489 DNOW shares each, a 6.8% premium, with projected $70 million synergies and improved earnings performance.

• In March 2025, Honeywell acquired Sundyne LLC for $2.2 billion, adding advanced pumps and compressors for petrochemical, LNG, and renewable markets, boosting growth and reinforcing its $9 billion acquisition strategy.

In this report, the Composites in Oil and Gas Industry Market has been segmented by Fiber Type, Resin Type, Application and Geography.

Composites in Oil and Gas Industry Market, Segmentation by Fiber Type

The Composites in Oil and Gas Industry Market has been segmented by Fiber Type into Glass Fiber Composites and Carbon Fiber Composites.

Glass Fiber Composites

Glass fiber composites are widely used in the oil and gas industry due to their affordability, durability, and excellent resistance to corrosion. They are commonly implemented in pipelines, storage tanks, and pressure vessels. Glass fiber usage grew by 1.7% in 2019, with overall demand expected to increase by approximately 15% by 2025.

Carbon Fiber Composites

Carbon fiber composites are increasingly favored in oil and gas applications that require lightweight materials with high strength and corrosion resistance, such as offshore platforms and high-pressure pipelines. These materials are seeing rising adoption across the sector, contributing to an estimated market growth of over 5% annually.

Composites in Oil and Gas Industry Market, Segmentation by Resin Type

The Composites in Oil and Gas Industry Market has been segmented by Resin Type into Epoxy Resin, Polyester Resin, Phenolic Resins and Others.

Epoxy Resin

Epoxy resin composites are extensively utilized in the oil and gas industry due to their exceptional mechanical strength, chemical resistance, and durability. They are particularly favored in applications requiring high-performance materials that can withstand harsh environments. Epoxy resins contribute to approximately 50% of the resin usage in composite applications within this sector.

Polyester Resin

Polyester resin composites are known for their cost-effectiveness and versatility, making them a popular choice in the oil and gas industry. They offer good corrosion resistance and are commonly used in the fabrication of pipes, tanks, and other structural components. Polyester resins account for around 30% of the resin market share in oil and gas composite applications.

Phenolic Resins

Phenolic resin composites are valued for their fire resistance, low smoke emission, and thermal stability, making them suitable for applications where fire safety is paramount. In the oil and gas industry, they are often used in offshore platforms and refineries. Phenolic resins constitute approximately 15% of the resin usage in this sector.

Others

This category includes various other resins such as vinyl ester and polyurethane, which are used in specialized applications requiring specific properties like enhanced chemical resistance or flexibility. Collectively, these resins make up about 5% of the resin market share in oil and gas composite applications.

Composites in Oil and Gas Industry Market, Segmentation by Application

The Composites in Oil and Gas Industry Market has been segmented by Application into Pipes, Tanks, Top Side Applications and Others.

Pipes

Composite pipes are extensively utilized in the oil and gas industry due to their lightweight, corrosion resistance, and durability. They are commonly used in piping systems, jumpers, risers, and downlines. The pipes segment holds the largest share in the composites market, accounting for approximately 60% of the total application.

Tanks

Composite tanks are widely adopted for the storage of fluids transported through pipeline systems in the oil and gas sector. Their corrosion resistance and ability to prevent underground leakage make them a preferred choice over traditional materials. Tanks constitute about 25% of the composite applications in this industry.

Top Side Applications

Top side applications encompass components like gratings, ladders, walkways, handrails, decking, and flooring. The inherent corrosion resistance of composite materials in these applications reduces life cycle costs and enhances operational efficiency. Top side applications represent approximately 10% of the composite usage in the oil and gas industry.

Others

This category includes various specialized applications such as pumps, compressors, frac balls, frac plugs, and flexible tubes. These applications leverage the unique properties of composites to meet specific operational requirements. Collectively, these 'Other' applications account for around 5% of the composite market in the oil and gas sector.

Composites in Oil and Gas Industry Market, Segmentation by Geography

In this report, the Composites in Oil and Gas Industry Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Composites in Oil and Gas Industry Market Share (%), by Geographical Region

North America

North America maintains a significant position in the composites in oil and gas industry, driven by its advanced infrastructure and technological innovations. The region's focus on enhancing operational efficiency and reducing maintenance costs has led to increased adoption of composite materials. North America contributes approximately 35% to the global market share.

Europe

Europe's commitment to sustainable practices and stringent environmental regulations has propelled the use of composites in the oil and gas sector. The region emphasizes the deployment of lightweight and corrosion-resistant materials to improve performance and reduce environmental impact. Europe accounts for about 25% of the global market share.

Asia Pacific

The Asia Pacific region is experiencing rapid growth in the composites market due to expanding industrial activities and increasing energy demands. Countries in this region are investing in infrastructure development and adopting advanced materials to enhance efficiency. Asia Pacific holds approximately 20% of the global market share.

Middle East and Africa

The Middle East and Africa region is leveraging composites to address challenges associated with harsh environmental conditions and to improve the durability of oil and gas infrastructure. The adoption of corrosion-resistant materials is crucial for extending the lifespan of assets. This region contributes around 15% to the global market share.

Latin America

Latin America is gradually embracing composites in the oil and gas industry to enhance operational efficiency and reduce maintenance requirements. The region's focus on modernizing infrastructure and adopting cost-effective solutions is driving market growth. Latin America accounts for approximately 5% of the global market share.

This report provides an in depth analysis of various factors that impact the dynamics of Composites in Oil and Gas Industry Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Lightweighting for Fuel Efficiency
• Corrosion Resistance and Durability
• Increasing Exploration and Production Activities

• Regulatory Push for Safety Standards - The becoming a major driver across high-risk industries such as oil & gas, chemicals, aerospace, and manufacturing. Governments and international organizations are enforcing strict safety compliance mandates to reduce workplace incidents and enhance operational integrity. This trend is fueled by public demand for accountability in industrial operations, alongside increasing legal and insurance liabilities for unsafe practices.

  As a result, industries are being compelled to invest in advanced safety equipment, implement automated monitoring systems, and adhere to well-documented safety protocols. The adoption of real-time data analytics and sensor-based technologies is becoming more common as companies seek to meet evolving standards. These technologies support the continuous tracking of equipment performance, worker exposure levels, and environmental risks, ensuring compliance while minimizing operational downtime.

  Regulatory bodies are pushing for transparency in safety audits and imposing heavy penalties for non-compliance. This has created a shift from reactive to proactive risk management, where businesses prioritize the prevention of hazards over post-incident response. Safety training, certification, and internal auditing systems are becoming core components of organizational strategy.

  Overall, the rising influence of regulatory-driven safety culture is reshaping how companies approach operations. Those who align early with these standards not only reduce liabilities but also improve reputation, workforce morale, and investor confidence, gaining a competitive advantage in safety-critical markets.

Restraints

• Limited Awareness and Adoption
• Challenges in Manufacturing Complexity

• Stringent Industry Standards and Regulations - Increasingly influencing product design, process controls, and supply chain compliance across numerous sectors. Organizations such as ISO, OSHA, API, and national safety agencies mandate specific technical and operational criteria to ensure consistent quality and human safety. These regulations require companies to constantly upgrade systems and documentation to remain compliant.

  The financial and operational burden of adhering to evolving standards is substantial, particularly in heavily regulated environments like aerospace, energy, and healthcare. Companies must invest in certification programs, regulatory consulting, and compliance audits to stay ahead of enforcement actions. Failure to comply can lead to penalties, license revocations, or market entry bans.

  Standards also act as catalysts for innovation. Organizations are developing safer, smarter, and more compliant solutions by embedding safety features, adopting environmentally friendly materials, and using intelligent monitoring tools. These efforts not only fulfill compliance requirements but also differentiate offerings in a competitive marketplace.

  In the global context, companies face the added complexity of meeting region-specific standards, which may vary significantly. This drives demand for universal compliance platforms, cross-border training, and supply chain vetting, especially for multinational operations. Those that proactively manage compliance gain long-term resilience and are better positioned to navigate disruptions.

Opportunities

• Advancements in Composite Materials Technology
• Growing Demand for Renewable Energy

• Expansion of Offshore Drilling Activities - Unlocking new growth avenues in the energy sector, particularly in oil- and gas-rich regions like the Gulf of Mexico, North Sea, and Southeast Asia. With declining output from mature onshore fields, energy companies are investing in deepwater exploration and ultra-deepwater projects to secure long-term supply. These operations require high-grade, durable technologies designed to withstand harsh marine environments.

  Offshore drilling demands highly specialized equipment such as subsea safety systems, advanced blowout preventers, and anti-corrosion components. The complexity of these projects necessitates precision engineering, real-time control systems, and extensive safety planning, which in turn drives demand for innovation and robust supply chains. These needs foster growth opportunities for vendors who can meet offshore certification standards.

  Governments and energy operators are also incentivizing exploration through tax breaks, licensing reforms, and public-private investment partnerships. This has led to greater capital inflow into offshore projects and the expansion of oilfield service providers, fabricators, and technology enablers. As nations seek to balance energy independence with sustainability, offshore production plays a vital strategic role.

  Offshore drilling comes with inherent risks that demand enhanced emergency response capabilities, environmental monitoring systems, and adherence to international safety laws. Companies that deliver cost-effective, compliant, and resilient offshore solutions are likely to gain market leadership in this rapidly evolving sector.

Composites In Oil and Gas Industry Market is experiencing notable transformation as companies adopt advanced materials to enhance performance and durability in harsh environments. Increasing reliance on composites for pipelines, risers, and subsea applications highlights their growing role. Competitive pressures are pushing firms toward strategies involving partnerships and mergers, ensuring stronger market presence and sustainable growth.

Market Structure and Concentration
The market exhibits moderate concentration, with a mix of established multinationals and specialized firms. Leading players focus on collaboration and mergers to strengthen portfolios and capture larger market shares. Around 60% of the industry presence is dominated by top-tier participants, while mid-sized firms target niche applications, creating a balanced yet competitive landscape.

Brand and Channel Strategies
Key manufacturers are prioritizing strong brand positioning supported by diversified distribution channels. Direct engagement with oil and gas operators, alongside long-term supply agreements, ensures reliability and trust. Marketing strategies emphasize safety, durability, and cost-effectiveness, while partnerships with service providers expand reach. This structured approach supports sustained expansion in critical energy segments.

Innovation Drivers and Technological Advancements
The sector is being reshaped by technological advancements in resin formulations, fiber reinforcements, and smart composites. Nearly 45% of research initiatives focus on improved fatigue resistance and lightweight structures. Continuous innovation is driving safer, more efficient oilfield operations, while digital monitoring integration enhances predictive maintenance, offering a robust platform for growth in competitive markets.

Regional Momentum and Expansion
Regional activity is marked by concentrated expansion across offshore projects in North America, Europe, and the Middle East. Over 55% of composite adoption is linked to subsea and offshore drilling. Localized partnerships with operators, combined with regulatory alignment, accelerate adoption. Regional demand is also strengthened by government-backed infrastructure investments and collaborative strategies.

Future Outlook
The future outlook points toward steady growth as demand for corrosion-resistant, lightweight materials expands. Strong emphasis on collaboration, merger activities, and partnerships will continue shaping competitive edges. With over 50% of upcoming projects integrating composite solutions, the industry is well-positioned to leverage innovation and technological advancements for sustainable long-term expansion.

Key players in Composites in Oil and Gas Industry Market include:

• Baker Hughes
• NOV Inc (National Oilwell Varco)
• SLB (Schlumberger)
• Halliburton
• Shawcor
• TechnipFMC
• Future Pipe Industries
• Saudi Arabian Amiantit (Amiantit)
• Toray Advanced Composites (Toray Industries)
• Hexagon Composites
• Trelleborg Group
• Prysmian Group
• Enduro Composites
• Syensqo
• BASF SE

In this report, the profile of each market player provides following information:

• Market Share Analysis
• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis