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(I-AutoNewsWire.com, October 19, 2018 )
Stratview Research announces the launch of a new research report on Composite Frac Plugs and Frac Balls Market by Product Type (Frac Plugs and Frac Balls), by Resin Type (Epoxy Composites, Phenolic Composites, and Other Composites), by Manufacturing Process Type (Injection Molding, Filament Winding, and Others), by Sales Channel Type (Direct Sales and Distributors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
Composite Frac Plugs and Frac Balls Market: Highlights
Composite frac plugs and frac balls are designed to provide zonal isolation of a wellbore between multistage stimulation treatments during a 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.
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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.
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.
Despite the short-term fluctuation in demand of composite frac plugs and frac balls in North America caused by dropping new shale oil & gas rig activities (because of the decreasing crude oil prices), the long-term business outlook seems promising with good growth potential in the foreseen future.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Stratview Research
Ritesh Gandecha
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Source: EmailWire.Com
Source: EmailWire.com
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