Composites in Oil and Gas Industry Market

Agreements, Partnerships, & Contracts, and New Product Launches are the Key Strategies Adopted by the Key Players in the Market of Composites in Oil & Gas Industry

The major companies offering oil & gas composites are mainly involved in agreements, partnerships & contracts as their key growth strategy to strengthen their position in the market of composites in oil & gas industry. The key players in the market also actively participate in new products launches, expansions, and mergers & acquisitions to expand their global market reach.

Agreements, partnerships & contracts were the key strategies that accounted for a share of 59% of all the strategies adopted in the market of composites in oil & gas industry between 2011 and 2016. New product launches, expansions, and mergers & acquisitions are the other growth strategies that together accounted for 41% of all the development strategies of the composites in oil & gas industry.

The major manufacturers of composites in oil & gas industry includes Airborne Oil & Gas (Netherlands), GE Oil & Gas (U.K.), Magma Global Limited (U.K.), National Oilwell Varco (U.S.), Vello Nordic AS (Norway), Schlumberger Limited (U.S.), Halliburton (U.S.), Strongwell Corporation (U.S.), Enduro Composites, Inc. (U.S.), and ZCL Composite (Canada). These companies have adopted various organic and inorganic growth strategies such as agreements, contracts, new product launches, expansions, partnerships, and mergers & acquisitions.

Airborne Oil & Gas (Netherlands) and GE Oil & Gas (U.K.) are the most active players in the market of composites in oil & gas industry. They adopted various strategies to enhance their market share in the global market of composites in oil & gas industry, accounting for more than half of all the market activities undertaken between 2012 and 2016.

Airborne Oil & Gas (Netherlands) develops, manufactures, sells, and markets fully bonded thermoplastic composite pipes composed of glass or carbon fiber reinforcements to offshore oil & gas industry. Airborne Oil & Gas (Netherlands) accounted for 25% share of all the development activities undertaken in the market of composites in oil & gas industry between 2011 and 2016. The company follows dynamic growth strategies with partnerships, agreements & contracts and expansions to enhance its regional presence. For instance, the company signed a partnership with Hydrasun (U.K.) that has helped the company for faster delivery of TCP Jumpers, increasing its market share. In addition, the company commissioned two new production carrousels that extended the production capacity of Airborne Oil & Gas to 7-inch internal diameter pipe in a single length of 3000m and even longer lengths for smaller pipe diameters.

GE Oil & Gas (U.K.) is another major player that has established a strong foothold in the market of composites in oil & gas industry. The company accounted for 19% share of all the development activities undertaken in the market of composites in oil & gas industry between 2011 and 2016. The company focuses on partnerships, agreements & contracts and new product launches to meet the growing demand from its customers. For instance, the company collaborated with National Oilwell Varco to provide topside systems for Floating Production Storage and Offloading, overcoming oil & gas offshore industry challenges. In addition, the company has launched wellstream flexible risers made of carbon fiber thermoplastic composites. This approach by the company has shifted the customer focus to more remote locations with very complex and harsh conditions from conventional patterns of production.

Related Reports:

Composites in Oil and Gas Industry Market by Resin Type (Epoxy, Polyester, and Phenolic), Fiber Type (Glass and Carbon), Application (Pipes, Tanks, and Top Side Applications), and Region - Global Forecasts to 2021

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Report Code
CH 4567
RI Published ON
9/14/2016
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