
Discover Top 40 Companies in Composites In Oil & Gas Industry Market : Global Share, Market Size, Revenue Report (2024–2035)
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Composites In Oil & Gas Industry Market Size is projected To Grow from USD 2.76 Billion in 2024 to USD 5.03 Billion by 2035, at a CAGR of 5.61% during the forecast period 2025–2035. The market for composites in oil & gas industry growth is facilitated by lightweight strength, corrosion resistance, durability, and cost-effectiveness of composites, coupled with rising offshore exploration, infrastructure improvement, environment regulation, and developments in manufacturing and material technology.
Introduction
The composites in Oil & Gas Industry Market Size refers to the application of sophisticated composite materials, including carbon fiber composites and fiberglass-reinforced plastics, in production, drilling, exploration, and pipeline infrastructure. These composites provide high specific strength ratios, corrosion resistance, and strength, which are suitable for extreme oil and gas conditions. They find extensive application in piping systems, storage tanks, offshore platforms, and equipment parts to improve performance and lower maintenance costs. Market expansion is supported by rising offshore exploration activities, the necessity to replace aging metal infrastructure that is susceptible to corrosion, and the growing attention towards efficient and low-weight material. Main strengths are composites chemical and hostile environment resistance, resulting in extended service life and safe operation. Opportunities exist to grow applications in deepwater drilling, subsea hardware, and improved oil recovery units. Government efforts supporting sustainable and safer energy infrastructure such as safety regulations for pipelines and protection for the environment, again, drive market uptake. Research and development investments to improve composite performance while lowering costs are also fuelling market growth worldwide.
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Composites In Oil & Gas Industry Market Size & Statistics
- The Market Size for Composites In Oil & Gas Industry Was Estimated to be worth USD 2.76 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 5.61% between 2025 and 2035.
- The Global Composites In Oil & Gas Industry Market Size is anticipated to reach USD 5.03 Billion by 2035.
- North America is expected to generate the largest demand during the forecast period in the Composites In Oil & Gas Industry Market
- Asia Pacific is expected to grow the fastest during the forecast period in The Global Composites In Oil & Gas Industry Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the composites in oil & gas industry market. Asia-Pacific is witnessing the growth of composites use in oil and gas with acceleration due to industrialization, urbanization, and energy demands. Australia, India, and China are investing in offshore infrastructure and utilizing composites to increase equipment longevity as well as to address increasing environmental and efficiency needs.
North America is expected to generate the largest demand during the forecast period in the composites in oil & gas industry market. North America, with the U.S. in the lead, controls composites application in oil and gas due to replacement needs in aging infrastructure and shale gas expansion. Corrosion resistance, strength, and lightness of composites enable unconventional drilling, with regulatory support favoring environmentally friendly, safer operations, and high regional demand and adoption.
Top 10 trends in the Composites In Oil & Gas Industry Market
- Corrosion resistance
- High-performance fibers
- Lightweight composites
- Digitalization and monitoring
- Offshore applications growth
- Advanced manufacturing techniques
- Improved fire resistance
- Environmentally friendly materials
- Composite pipelines and risers
- Integration with IoT and AI
1. Corrosion resistance
The trend for corrosion resistance in the composites industry is of vital importance in the oil and gas sector, where extreme environments speed up material wear. Composites have much better corrosion resistance than conventional metals, increasing equipment life, minimizing maintenance fees, and protecting against accidents. This makes them perfectly suited for offshore and subsea operations.
2. High-performance fibers
The high-performance fibers refer to the utilization of fibers such as carbon, aramid, and glass fibers in composites for the oil and gas sector. The fibers improve strength, durability, and resistance to fatigue and are suitable for applications requiring high performance such as risers, pipes, and structural elements in aggressive environments.
3. Lightweight composites
The trend of lightweight composites is all about lowering the total weight of oil and gas industry components. The materials enhance installation efficiency, lower shipping costs, and avoid heavy support structures, hence being well-suited for offshore platforms, pipelines, and weight-critical applications.
4. Digitalization and monitoring
The composites market digitalization and monitoring are incorporating sensors and intelligent technologies into composite materials. This allows real-time structural health monitoring, stress, and environmental monitoring, improved safety, predictive maintenance, and improved efficiency for operations in extreme oil and gas conditions such as offshore rigs and pipelines.
5. Offshore applications growth
Offshore application growth fuels the use of composites in the oil and gas sector due to they are light, corrosion-free, and long-lasting even in harsh marine conditions. The utilization of composites in risers, platforms, and pipelines becomes more widespread, and they improve safety, lower maintenance requirements, and increase operating lifetimes.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the composites in oil & gas industry market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the Composites In Oil & Gas Industry Market
- Solvay S.A.
- ExxonMobil
- Hexcel Corporation
- Baker Hughes
- TechnipFMC
- Chevron
- Shawcor
- Toray Industries, Inc.
- BASF SE
- SGL Carbon
- Strohm
- Halliburton
- Freudenberg SE
- The Chemours Company
- NOV Inc.
- Future Pipe Industries
- Metalubgroup
- SLB (Schlumberger N.V.)
- Halocarbon, LLC
- Schlumberger Limited
Company Profiles
- Solvay S.A.
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- ExxonMobil
- Hexcel Corporation
- Baker Hughes
- TechnipFMC
- Chevron
- Shawcor
- Toray Industries, Inc.
- BASF SE
- Others
1. Solvay S.A.
Headquarters: Brussels, Belgium
Solvay S.A. is a global specialty chemicals and advanced materials company. For the oil and gas industry, Solvay is pushing composites forward through a collaboration with Baker Hughes to provide thermoplastic composite materials for ultra-deepwater flexible pipes and risers.The composites provide real advantages, particularly in weight savings, corrosion resistance, and fatigue life, over conventional metallic substitutes.Taking advantage of its extensive polymer and materials science know-how, Solvay aids the oil and gas sector in its transformation toward longer-lasting, more efficient, and lower-cost infrastructure solutions.
2. ExxonMobil
Headquarters: Spring, Texas, USA
ExxonMobil is leading the development of composite materials with its introduction of Proxxima polyolefin thermoset resin systems, which drive efficiency in composite fabrication. These advanced resins enable processes such as resin transfer molding and pultrusion, featuring superior properties such as strength, light weight, and corrosion resistance, perfect for high-performance applications. ExxonMobil is actively leading customers to adopt these next-generation composite systems while streamlining production processes and encouraging wider industry adoption.
3. Hexcel Corporation
Headquarters: Stamford, Connecticut, USA
Hexcel Corporation provides advanced composite solutions to a wide range of industries, with high applicability for oil & gas uses. As an integrated provider from carbon fiber to woven and non-crimp fabrics, resin systems for prepress, laminates, tooling, honeycomb structures, and adhesives, Hexcel addresses industrial requirements, including those of oil & gas, with long-life, lightweight, high-performance materials. Their technology supports better corrosion resistance, improved mechanical strength, and lower maintenance costs, and thus Hexcel is a leader driving composite adoption in demanding operating environments.
4. Baker Hughes
Headquarters: Texas, USA
Baker Hughes is a leader in the composites business within the oil & gas sector. The company has invented Onshore Composite Flexible Pipe, a light-weight reinforced thermoplastic (RTP) technology intended to replace heavy steel pipes. These composite pipes come in a spoilable design for quicker, less expensive installation, lowering the cost of installation by more than 20%. They are extremely corrosion-resistant and eco-friendly, facilitate hydrogen and carbon dioxide transportation, and eliminate chemical corrosion inhibitors. Baker Hughes produces these revolutionary pipes at its large Houston plant, increasing production capacity by a significant margin.
5. TechnipFMC
Headquarters: Houston, Texas, USA
TechnipFMC is a leader in the integration of composites in oil and gas through its advanced COOL-FLEX riser systems, which combine composite layers with live integrity monitoring. The systems provide up to 50% weight savings over conventional steel risers and dominate Deepwater operations in Brazil. Supported by its subsea and surface technologies, from engineering, procurement, manufacturing, and installation, TechnipFMC provides high-performance composite solutions tailored for demanding offshore conditions. Their solutions increase efficiency, decrease deployment danger, and set new standards for lightweight, long-lasting infrastructure in the generation of energy.
Are you ready to discover more about the composites in oil & gas industry market?
The report provides an in-depth analysis of the leading companies operating in the global composites in oil & gas industry market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Conclusion
The composites in The Oil & Gas Market Size are growing due to demand for light weight, corrosion-safe, and high-strength materials appropriate for hostile environments. Composites increase performance, lower maintenance costs, and extend equipment life, particularly in offshore operations. As more deepwater exploration and production activities occur, with growing regulatory backing and advances in technologies such as digital monitoring, leaders such as Solvay, ExxonMobil, Hexcel, Baker Hughes, and TechnipFMC are spearheading the drive. These initiatives enable safer, cleaner, and more efficient infrastructure throughout the oil and gas industry worldwide.
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