Market Overview:
The global fiber reinforced plastic sucker rod market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for fiber reinforced plastic sucker rods from oil wells that are exposed to corrosive environments. Fiber reinforced plastic sucker rods are also being increasingly used in non-corrosive oil wells, owing to their superior mechanical properties as compared with traditional metal sucker rods. The global fiber reinforced plastic sucker rod market has been segmented on the basis of type, application and region. On the basis of type, the market has been segmented into below 20mm, 20-25mm, 25-28mm and others. The below 20mm segment is expected to account for a major share of the global fiber reinforced plastic sucker rod market during the forecast period owing to its low cost and easy installation process as compared with other types of fiber reinforced plastic suckers rods. On the basis of application,the market has been divided into no corrosion or effective suppression oil well and corrosive oil well segments. The no corrosion or effective suppression oil well segment is anticipated witness higher growth during 2018–2030 due mainlyto growing demand from North Americaand Europeregionsthat have stringent environmental regulations mandating useof non-corrosive materialsforoil production activities In terms og geography,.
Product Definition:
A fiber reinforced plastic sucker rod is a type of sucker rod that is made from fiber reinforced plastic. This type of sucker rod has many benefits over traditional metal sucker rods, including increased strength and resistance to corrosion.
Below 20mm:
Below 20mm, it's usage and growth factor in Fiber Reinforced Plastic Sucker Rod market? Fiber reinforced plastic (FRP) has been used as a major material in the manufacturing of fishing rods and pipe. The demand for FRP has increased over the past few years owing to its various beneficial properties such as high strength, corrosion resistance, lightweight etc.
20-25mm:
20-25mm is a standard diameter for fiber reinforced plastic (FRP) sucker rods used in the oil & gas industry. The 20-25mm FRP sucker rod has excellent properties such as fatigue resistance, high strength and stiffness, low thermal expansion along with good electrical characteristics. These are widely preferred for use in offshore drilling activities owing to their excellent strength to weight ratio which makes them ideal for use at great depths where other materials fail due to the immense pressure.
Application Insights:
The no corrosion or effective suppression oil well application segment led the global market in 2017. This is attributed to its high performance in harsh environments with high temperature and pressure. The product has excellent resistance against chemicals, which makes it a preferred material for use in oil & gas wells worldwide.
Corrosive environment is anticipated to be one of the fastest-growing applications over the forecast period owing to its ability to resist acids and bases as well as temperatures ranging between 70°C and 300°C without getting deformed or broken down completely. These are some of the key factors that are driving product demand from corrosive environments across various industries including chemical, petrochemical, power generation and others globally.
Regional Analysis:
North America dominated the global market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the presence of major manufacturers such as PPG, Inc.; Sherwin-Williams; and International Latex Ltd., which are engaged in developing advanced products for various applications. Moreover, increasing demand for oil & gas from shale reserves coupled with growing offshore drilling activities is expected to drive product demand over the forecast period.
Asia Pacific was estimated at USD X million in 2017.
Europe also held a significant share owing to high demand from end-use industries such as chemical processing, metalworking, automotive etc.
Growth Factors:
- Increasing demand for fiber reinforced plastic sucker rods from the oil and gas industry as a result of increasing exploration and production activities
- Rising demand for fiber reinforced plastic sucker rods in developing countries due to the growth of their economies and the expansion of their oil and gas industries
- The increasing use of fiber reinforced plastic sucker rods in unconventional drilling applications, such as shale gas extraction, which is driving market growth
- Growing awareness among consumers about the benefits of using fiber reinforced plastic sucker rods over traditional metal sucker rods, which is helping to boost market growth
- Technological advancements that are resulting in the development of more durable and reliable fiber reinforced plastic sucker rods
Scope Of The Report
Report Attributes
Report Details
Report Title
Fiber Reinforced Plastic Sucker Rod Market Research Report
By Type
Below 20mm, 20-25mm, 25-28mm, Others
By Application
No Corrosion or Effective Suppression Oil Well, Corrosive Oil Well
By Companies
Weatherford, John Crane, Shengli Oilfield Highland, General Composites
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Fiber Reinforced Plastic Sucker Rod Market Report Segments:
The global Fiber Reinforced Plastic Sucker Rod market is segmented on the basis of:
Types
Below 20mm, 20-25mm, 25-28mm, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
No Corrosion or Effective Suppression Oil Well, Corrosive Oil Well
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Weatherford
- John Crane
- Shengli Oilfield Highland
- General Composites
Highlights of The Fiber Reinforced Plastic Sucker Rod Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 20mm
- 20-25mm
- 25-28mm
- Others
- By Application:
- No Corrosion or Effective Suppression Oil Well
- Corrosive Oil Well
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Fiber Reinforced Plastic Sucker Rod Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Fiber Reinforced Plastic Sucker Rod is a type of fishing rod made from fiber-reinforced plastic. This material makes the rod strong and durable, making it ideal for use in tough environments.
Some of the key players operating in the fiber reinforced plastic sucker rod market are Weatherford, John Crane, Shengli Oilfield Highland, General Composites.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Fiber Reinforced Plastic Sucker Rod Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Fiber Reinforced Plastic Sucker Rod Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fiber Reinforced Plastic Sucker Rod Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Fiber Reinforced Plastic Sucker Rod Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Fiber Reinforced Plastic Sucker Rod Market Size & Forecast, 2018-2028
4.5.1 Fiber Reinforced Plastic Sucker Rod Market Size and Y-o-Y Growth
4.5.2 Fiber Reinforced Plastic Sucker Rod Market Absolute $ Opportunity
Chapter 5 Global Fiber Reinforced Plastic Sucker Rod Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
5.2.1 Below 20mm
5.2.2 20-25mm
5.2.3 25-28mm
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Fiber Reinforced Plastic Sucker Rod Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
6.2.1 No Corrosion or Effective Suppression Oil Well
6.2.2 Corrosive Oil Well
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fiber Reinforced Plastic Sucker Rod Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Fiber Reinforced Plastic Sucker Rod Analysis and Forecast
9.1 Introduction
9.2 North America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
9.6.1 Below 20mm
9.6.2 20-25mm
9.6.3 25-28mm
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
9.10.1 No Corrosion or Effective Suppression Oil Well
9.10.2 Corrosive Oil Well
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Fiber Reinforced Plastic Sucker Rod Analysis and Forecast
10.1 Introduction
10.2 Europe Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
10.6.1 Below 20mm
10.6.2 20-25mm
10.6.3 25-28mm
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
10.10.1 No Corrosion or Effective Suppression Oil Well
10.10.2 Corrosive Oil Well
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Fiber Reinforced Plastic Sucker Rod Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
11.6.1 Below 20mm
11.6.2 20-25mm
11.6.3 25-28mm
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
11.10.1 No Corrosion or Effective Suppression Oil Well
11.10.2 Corrosive Oil Well
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Fiber Reinforced Plastic Sucker Rod Analysis and Forecast
12.1 Introduction
12.2 Latin America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
12.6.1 Below 20mm
12.6.2 20-25mm
12.6.3 25-28mm
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
12.10.1 No Corrosion or Effective Suppression Oil Well
12.10.2 Corrosive Oil Well
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Fiber Reinforced Plastic Sucker Rod Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Type
13.6.1 Below 20mm
13.6.2 20-25mm
13.6.3 25-28mm
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Fiber Reinforced Plastic Sucker Rod Market Size Forecast by Applications
13.10.1 No Corrosion or Effective Suppression Oil Well
13.10.2 Corrosive Oil Well
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Fiber Reinforced Plastic Sucker Rod Market: Competitive Dashboard
14.2 Global Fiber Reinforced Plastic Sucker Rod Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Weatherford
14.3.2 John Crane
14.3.3 Shengli Oilfield Highland
14.3.4 General Composites
