A recent report published by Infinium Global Research on composites in oil and gas market provides in-depth analysis of segments and sub-segments in the global as well as regional composites in oil and gas market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional composites in oil and gas market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global composites in oil and gas market.
The global composites in oil & gas industry keeps searching for materials which combine lightweight properties with safety features and cost efficiency. The operations of modern industries depend on composites for two main purposes: they serve as replacements for deteriorating piping systems and as essential components in building offshore platforms and subsea pipelines, and storage tanks that operate under high-pressure conditions. The exploration and production activities in more challenging environments need innovative corrosion-resistant solutions which comply with regulations. Major investments in Asia-Pacific, and North America, and Europe have become necessary. Integration with IoT, digital monitoring, and advanced manufacturing techniques—like filament winding and resin infusion—is now enabling smarter asset management and operational efficiency.
The use of composite materials in the oil and gas industry is mainly coming from the requirement of the industry to have materials that are light, corrosion-resistant, and with very high durability that would not only cut down the cost of maintenance but also elongate the period of the asset's life. The U.S. Department of Energy reports that composite materials can be as much as 60% lighter than steel and can reduce the time and effort of maintenance by up to 80% thus resulting in operational costs of 20-30% less during the whole life of a system. Moreover, the growing regulatory requirements, mostly from the American Petroleum Institute and the European Union's environmental directives, are speeding up the use of composites as a way of complying with the toughest safety and sustainability standards. Nevertheless, the very high costs of materials and production—between 1.5 and 3 times that of conventional steel according to the U.S. Geological Survey—are a major problem, in addition to the fear of long-term reliability stopping the acceptance of composites in such harsh or critical locations.
The absence of universal regulatory standards, which the International Organization for Standardization identifies due to its showing over 60 distinct national standards, makes it even harder to manage procurement and practice across borders. The market still has strong chances of development thanks to the ever-growing global demand for natural gas, which the International Energy Agency estimates will increase at 3.4% per year till 2030, and also the investments in renewables such as offshore wind infrastructure. Digitalization, that also includes predictive maintenance and smart monitoring which more than 40% of the pipeline operators have already embraced, is another factor that is helping to increase the attraction of composites as it is enabling better management and longer life for the assets. Additionally, the urgent need to remediate aging oil and gas infrastructure worldwide creates lucrative prospects for composite materials to offer safer, longer-lasting solutions.
Glass fiber composites lead the market, with approximately 60% membership due to cost effectiveness and extensive utilization in a wide range of pipelines and tanks. Carbon fiber composites find use in high-spec subsea risers and drilling tools due to their strength and light weight in deep offshore fields. Aramid composites are utilized in applications where high impact and abrasion resistance is key.
Composite pipes—flowlines, risers, and jumpers—take the highest share of market application, since composites provide excellent corrosion resistance along with better handling of high-pressure, [high-temperature (HPHT)] conditions compared to traditional materials. Other growing applications include pressure vessels, offshore platform structures, and storage tanks. Companies are investing in composite upgrades to replace traditional materials after composites have been proven to outperform in the most taxing conditions for durability. Coating and repair systems are becoming more common as a remediation for aging infrastructure and downtime.
Epoxy composites are dominant in offshore and drilling applications because of superior mechanical performance and chemical resistance, while polyester and vinyl ester are more widely used in above-ground tank and pipe projects where cost is a larger consideration. Phenolic resins have unique properties that demonstrate a level of fire resistance that would be necessary in topside or safety-related applications.
North America remains the largest market due to the extensive shale and offshore activity, strong regulatory drivers around safety and environmental compliance, and evolution of legacy products into advanced composites. Asia-Pacific is fastest growing region, as China, India and Australia are investing heavily in new offshore and pipeline infrastructure—driven by energy demand and Government initiatives to increase their operational life cycles and for safety. Europe is leading sustainable and standards development, regulatory harmonization, and adoption of advanced composites to improve environmental and lifecycle efficiency. LAMEA (Latin America, Middle East, Africa) have seen the earliest uptake due to growth in oil and gas and a slow penetration of composite solutions in new development. These developments illustrate the market's pivot toward advanced manufacturing, new partnerships, and rapid scaling of composites to perform globally within the oil and gas marketplace segment.
Airborne oil & gas, back in the first quarter of 2025, disclosed the installation of a novel class of thermoplastic composite pipes for deepwater use, which would take place in Brazil and the Gulf of Mexico, thereby improving safety for operations and cutting down installation costs.
In the summer of 2025, Solvay S.A. joined up with a significant oil company in the Middle East to create composite risers for offshore platforms, where a service life increase of up to 50% over steel risers is the goal.
Owens Corning rolled out a next-generation corrosion-resistant glass fiber composite for pressure vessels in North America that assures regulatory conformity and faster intervention for aging assets.
National Oilwell Varco (NOV Inc.) has enlarged its production capability for large-diameter composite pipes in Texas and India in order to cater to the rising demand from shale and offshore industries.
All these advancements point to the market's transition to sophisticated manufacturing, forming new alliances, and the speedy deployment of composite innovation in the global petroleum and gas sector.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 3.11 Billion |
| Market Size by 2032 | USD 13.68 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 19.93% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Type, By Resin Type, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global composites in oil and gas market provides a detailed analysis of segments in the market based on Type, Resin Type, and Application.
· Glass Fiber
· Carbon Fiber
· Others
· Epoxy Resin
· Polyester Resin
· Phenolic Resin
· Vinyl Ester Resin
· Others
· Pipes
· Pressure Vessels
· Offshore Platforms
· Topside
· Tanks
· Others
· Solvay S.A.
· Hexcel Corporation
· Owens Corning
· DuPont
· Toray Industries
· Teijin Limited
· ZCL Composites Inc. (acquired Xerxes Corporation)
· Momentive Performance Materials
· GE Oil & Gas
· Airborne Oil & Gas
· Enduro Composites
· Magma Global
· National Oilwell Varco (NOV Inc.)
· Halliburton
· SLB
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the composites in oil and gas market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.