The Market of Resin in the Oil & Gas Industry is to grow at CAGR 6.1% by 2022

The new report of Stratview Research analyses the Resin Market in the Oil & Gas Industry over the trend period from 2011 to 2016 and forecast period from 2017 to 2022. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The Global Epoxy Resin Market in the Oil & Gas Industry: The Growth Prognosis & its Drivers
The global epoxy resin market in the oil & gas industry is projected to witness an impressive CAGR of 6.1% over the next five years, 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.

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

Global epoxy resin market in the oil & gas industry is segmented based on application type as composites, coatings, adhesion, painting, linings, and others. Composites is 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.

North America is expected to remain the largest market for epoxy resin in the oil & gas industry during the forecast period of 2017 to 2022. 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, China and India being the growth engines of this region. Increasing pipeline infrastructure in Middle-East and Africa is further propelling the growth of epoxy resin market in the oil & gas industry.

Market Players
Dow Coating Materials, Cytec Solvay Group, Henkel AG & Company, Hexion Inc., Huntsman Corporation, Nona composites, and Polyset Co Inc. are some of the major players in the global epoxy resin market for the oil & gas industry. 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.

Comprehensive Market Coverage
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This release was published on openPR.