Epoxy Resin Market in the Oil & Gas Industry Analysis | 2020-2025

Epoxy Resin Market in the Oil & Gas Industry Analysis | 2020-2025

Epoxy Resin Market in the Oil & Gas Industry Analysis | 2020-2025
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Epoxy Resin Market in the Oil & Gas Industry Size, Share, Trend, Forecast &a See more...

“The Epoxy Resin Market in the Oil & Gas Industry is projected to witness an impressive CAGR of >6% during the forecast period.”

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Market Dynamics

Introduction

The Epoxy Resin Market in the Oil & Gas Industry plays a crucial role in providing durable and high-performance materials for various applications. Epoxy resins are widely used in coatings, adhesives, and composite materials due to their excellent corrosion resistance, mechanical strength, and chemical stability. In the oil and gas sector, epoxy resins are primarily utilized for protective coatings on pipelines, storage tanks, and offshore structures to prevent corrosion from harsh environmental conditions, including seawater and chemicals.

Their use enhances the longevity and safety of critical infrastructure, reducing maintenance costs. The increasing demand for energy and ongoing exploration activities are driving the growth of the epoxy resin market in this sector.

Market Drivers

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.

Segments Analysis

By Operation Type

“Onshore segment dominates the market during the forecast period.”

The 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, and 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 excellent growth in the epoxy resins market, driven by higher demand for lightweight, high-strength, and corrosion-resistant composites over the next five years.

By Application Type

“Composites segment dominates the market during the forecast period.”

The global epoxy resin market in the oil & gas industry is segmented based on application types such as composites, coatings, adhesion, painting, linings, and others. Composites are 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.

Regional Analysis

“North America is expected to remain the largest market for epoxy resin in the oil & gas industry during the forecast period.”

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, with China and India being the growth engines of this region. Increasing pipeline infrastructure in the Middle East and Africa is further propelling the growth of the epoxy resin market in the oil & gas industry.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. 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.

The following are the key players in the global epoxy resin market for the oil & gas industry (arranged alphabetically).

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the Epoxy Resin Market in the Oil & Gas Industry

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market Segment Analysis and Forecast

Who are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a 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. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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 to sales@stratviewresearch.com

Frequently Asked Questions (FAQs)

The Epoxy Resin Market in the Oil & Gas Industry plays a crucial role in providing durable and high-performance materials for various applications. Epoxy resins are widely used in coatings, adhesives, and composite materials due to their excellent corrosion resistance, mechanical strength, and chemical stability. In the oil and gas sector, epoxy resins are primarily utilized for protective coatings on pipelines, storage tanks, and offshore structures to prevent corrosion from harsh environmental conditions, including seawater and chemicals. Their use enhances the longevity and safety of critical infrastructure, reducing maintenance costs. The increasing demand for energy and ongoing exploration activities are driving the growth of the epoxy resin market in this sector.

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.