Composite Frac Plugs and Frac Balls Market offers healthy growth opportunity in 2023

Stratview Research has published a new research report on Composite Frac Plugs and Frac Balls Market. This extensive report by Stratview Research analyses the growth of Composite Frac Plugs and Frac Balls Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023 under the following segments -
• by Product Type (Frac Plugs, Frac Balls)
• by Resin Type (Epoxy Resin, Phenolic Resin, Other Resins)
• by Manufacturing Process Type (Injection Molding, Filament Winding, Other Processes)
• by Sales Channel Type (Direct Sales, Distributors)
• by Region (North America, Europe, Asia-Pacific, Rest of the World)

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Use of frac plugs & frac balls
Composite frac plugs and frac balls are designed to provide zonal isolation of a wellbore between multistage stimulation treatments during the hydraulic fracturing. These composite balls and plugs are made from glass fiber and epoxy or phenolic resin and are easier to mill out than metal plugs and balls. They can withstand higher pressure and temperature than traditional plastic and dissolvable salt balls.
Frac plugs are generally in the range from 4.5 to 5.5 inches in diameter and 22 to 30 inches in length, whereas frac balls typically measure from 1.0 to 5.75 inches in diameter. A single wellbore requires 10 to 40 multi-part frac plugs to pressurize and perforate multiple oil and gas producing layers, also known as stages. The volatility in crude oil prices adversely impacted the demand for composite frac plugs and frac balls. Many oil & gas explorations have been shut down due to the decreased oil prices.

Major factors burgeoning the growth of the market of frac plugs & frac balls
Despite the short-term fluctuations in composite frac plugs and frac balls demand in North America caused by dropping new shale oil & gas rig activities that is a result of the decreasing crude oil prices, the long-term business outlook seems promising with good growth potential in the foreseen future.
The global composite frac plugs and frac balls market offers healthy growth opportunity during the forecast period of 2018 to 2023. Recovery of oil & gas exploration activities, mammoth shale gas reserve in different parts of the world, especially in the USA, and superior performance of composite frac plugs and balls over their rival are the major factors burgeoning the growth of the market. Both, composite frac plugs and frac balls, are expected to experience similar growth in the next five years, driven by increasing use of composites frac balls and plugs in the onshore oil & gas application.

Top market players
The supply chain of this market comprises raw material manufacturers, composite frac plug and frac ball manufacturers, drilling contractors, EPC contractors and operators (oil & gas companies). The key oil & gas service companies are Baker Hughes, Halliburton (Houston), Schlumberger (Houston) and Weatherford International (Zug, Switzerland). The key oil & gas companies are British Petroleum, Shell, Exxon Mobil, Chevron, and ConocoPhillips.
The key composite frac plug and frac ball manufacturers are Baker Hughes, Magnum Oil Tools, The Gund Co, Team Oil Tools, and Downhole Composites. New product development, collaboration with customers, and regional expansion are the key strategies adopted by the major players to gain a competitive edge in the market.

Why Stratview Research
Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Composite Frac Plugs and Frac Balls Market overview, industry life cycle analysis, supply chain analysis
• Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend (2012 – 2017) and forecast analysis (2018-2023) of each segment.
• Competitors’ market share, product portfolio and new launches.
• Growth opportunities in each segment.
• Emerging trends which will decide the future course of development.
• Strategic growth opportunities for the existing and new players
• Key success factors.

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