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Epoxy Resin Market In The Oil & Gas Industry Report
Epoxy Resin Market in the Oil & Gas Industry: Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025
The global epoxy resin market in the oil & gas industry is projected to witness an impressive CAGR of >6% over the next five years, driven by an expected increase in the oil & gas rig activities, increasing demand for non-corrosive and lightweight composites, and continuous investment in the pipeline infrastructure to meet the growing demand from developing countries owing to rising population.
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Global epoxy resin market in the oil & gas industry is segmented based on operation type as onshore, offshore, and transportation. Onshore is expected to remain the most dominant application in the epoxy resin market in the oil & gas industry during the forecast period. Epoxy resin is preferred in a wide array of applications from exploration, drilling to production applications. There is an increasing penetration of epoxy resin based composite applications, such as small diameter GRE pipes in the onshore applications. Offshore operations are expected to offer an excellent growth in the epoxy resins market, driven by higher demand for lightweight, high-strength, and corrosion-resistant composites over the next five years.
Global epoxy resin market in the oil & gas industry is segmented based on application type as composites, coatings, adhesion, painting, linings, and others. Composites is expected to be the fastest growing application of epoxy resin in the oil & gas industry over the next five years, driven by its multiple advantages, such as corrosion resistance, shear resistance, chemical resistance, high operating temperature, low maintenance cost, and durability.
North America is expected to remain the largest market for epoxy resin in the oil & gas industry during the forecast period of 2020 to 2025. All three countries, the US, Canada, and Mexico are generating a healthy demand for epoxy resins in the North American oil & gas industry. Good natural gas infrastructure, installation, and replacement of underground tanks have contributed to the demand in this region. Asia-Pacific is estimated to witness the highest growth in the epoxy resin market in the oil & gas industry for the same period, China and India being the growth engines of this region. Increasing pipeline infrastructure in Middle-East and Africa is further propelling the growth of epoxy resin market in the oil & gas industry.
Dow Coating Materials, Cytec Solvay Group, Henkel AG & Company, Hexion Inc., Huntsman Corporation, Nona composites, and Polyset Co Inc. are some of the major players in the global epoxy resin market for the oil & gas industry. New application development of composites, advancement in technology, and collaboration with EPC companies are some of the key strategies adopted by the major companies to gain a competitive edge over others.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
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Research Scope |
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Trend & Forecast Period |
2014-2025 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Forecast |
>6% CAGR during 2020-2025 |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, Russia, The UK, China, Japan, India, Latin America, the Middle East and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The market is segmented in the following ways:
This report, from Stratview Research, studies the global epoxy resin market in the oil & gas industry over the period 2020 to 2025. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Driven by the factors like expected increase in the oil & gas rig activities; increasing demand for non-corrosive and lightweight composites, the epoxy resin market in the oil & gas industry is expected to witness an impressive growth of >6% CAGR during the forecast period of 2020 to 2025.
Dow Coating Materials, Cytec Solvay Group, Henkel AG & Company, Hexion Inc., Huntsman Corporation, Nona composites, and Polyset Co Inc. are among the key players in the epoxy resin market in the oil & gas industry.
North America is expected to remain the largest market for epoxy resin in the oil & gas industry during the forecast period of 2020 to 2025.
Composites application is expected to witness the fastest growth in the epoxy resin market in the oil & gas industry.
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