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Global Composite Frac Plugs and Balls Market to 2025 with COVID-19 Impact Insights

Dublin, Dec. 11, 2020 (GLOBE NEWSWIRE) — The “Composite Frac Plugs and Balls Market by Product Type, by Resin Type, by Manufacturing Process Type, by Sales Channel Type, and by Region, Size, Share, Trend, Forecast & Competitive Analysis: 2020-2025” report has been added to ResearchAndMarkets.com’s offering. This strategic assessment report provides a comprehensive analysis that reflects today’s composite frac plugs and balls market realities and future market possibilities for the forecast period of 2020 to 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies. Composite Frac Plugs and Balls Market: HighlightsPlug-n-perf is the most common technique and accounts for 85%+ of the global hydraulic fracturing market. Composites hold more than 70% share of the overall frac plugs and balls market in the industry. The composite frac plugs and balls market is highly dependent on hydraulic fracturing, the latter is highly subjected to the volatility of crude oil prices. The cash cost of producing a barrel of oil from the hydraulic fracking from shale is about US$ 30 to US$ 50, whereas the cost of producing a barrel of oil from the conventional method in Saudi Arabia is about US$ 5 to US$ 10. Hydraulic fracturing becomes unviable for operators if the oil price is below US$ 40 per barrel.Similar to hydraulic fracking, the composite frac plugs and balls market registered a severe downfall in 2015 and 2016, followed by huge recovery in 2018, giving a future hope to the composite frac plug and ball manufacturers. However, this hope did not last long and broke with a massive double-digit decline in 2019, owing to the weakened oil prices and increased capital discipline by major US operators, which slowed completion activity. In response to this, the oilfield service companies have cut the cost, retired equipment, and improved efficiencies.The year 2020 is estimated to further exacerbate the demand for hydraulic fracking due to the two major setbacks (the price war between Russia and Saudi Arabia and COVID-19). The prices of crude oil declined from US$ 60 per barrel at the start of the year to US$ 20 per barrel in April in the wake of the steep fall in crude oil demand, followed by the collapse of the three-year-old pact between Russia and Saudi Arabia. As per EIA (June 2020), the average US crude oil production will be around 11.8 million b/d in 2020, down 0.5 million b/s from the year 2019. The organization expects a further decline of 0.7 million b/d to reach 11.1 million b/d in 2021.The industry’s teething issues were further triggered by the discount offered on oil prices by Saudi Arabia and the increase in crude oil production by Russia and Saudi Arabia. The outbreak of the COVID-19 worsened the market to an unprecedented level. As per IEA estimates, the oil demand fell by 6 percent (6 mb/d) in Q1 2020 and 23 percent (23 mb/d) in Q2 2020, owing to strong travel restrictions and lockdowns across various parts of the world.At that moment, assessing the real impact of the pandemic on the composite frac plugs and balls market in the short-term as well as long-term is an extremely challenging task. The pandemic is still spreading, taking the major economies in its grip and deteriorating the market conditions with the oil & gas industry being the biggest victim of it. It is difficult to state that when the pandemic would start to fade away.However, based on interviews conducted with the leading market stakeholders coupled with the past industry trends (The Great Recession and 2014 crude oil price crunch), it is estimated that the composite frac plugs and balls market may record a U-shape recovery (similar to ones recorded during 2014-2017) with recovery to commence from 2021 onwards, driving the overall long-term healthy growth with composite frac plug and ball sales reaching US$ 957.9 million in 2025.Key Topics Covered:1. Executive Summary 2. Composite Frac Plugs and Balls Market- Overview and Segmentation 2.1. Introduction2.2. Composite Frac Plugs and Balls Market Overview and Segmentation 2.3. Supply Chain Analysis 2.4. Industry Life Cycle Analysis 2.5. PEST Analysis 2.6. SWOT Analysis 3. Composite Frac Plugs and Balls Market – The COVID-19 Impact Assessment3.1. Insights 3.2. Composite Frac Plugs and Balls Market Penetration 3.3. Composite Frac Plugs and Balls Market Trend and Forecast (US$ Million and Thousand Units) 3.4. Pre-COVID vs Post-COVID Assessment3.5. Post-COVID Scenario Analysis: Pessimistic, Most Likely, and Optimistic 3.6. Profitability Analysis 3.7. Market Segments’ Analysis (US$ Million and Thousand Units) 3.8. Regional and Country-Level Analysis (US$ Million and Thousand Units)3.9. Market Drivers 3.10. Market Challenges4. Competitive Analysis 4.1. Product Portfolio Analysis 4.2. Geographical Presence4.3. New Product Launches4.4. Strategic Alliances4.5. Market Share Analysis4.6. Porter’s Five Forces Analysis 5. Composite Frac Plugs and Balls Market Trend and Forecast by Product Type (2014-2025)5.1. Insights 5.2. Frac Plugs: Regional Trend and Forecast (US$ Million and Thousand Units)5.3. Frac Balls: Regional Trend and Forecast (US$ Million and Thousand Units)6. Composite Frac Plugs and Balls Market Trend and Forecast by Resin Type (2014-2025)6.1. Insights 6.2. Epoxy Composites: Regional Trend and Forecast (US$ Million and Thousand Units)6.3. Phenolic Composites: Regional Trend and Forecast (US$ Million and Thousand Units)6.4. Other Composites: Regional Trend and Forecast (US$ Million and Thousand Units)7. Composite Frac Plugs and Balls Market Trend and Forecast by Manufacturing Process Type (2014-2025)7.1. Insights 7.2. Filament Winding: Regional Trend and Forecast (US$ Million and Thousand Units)7.3. Compression Molding: Regional Trend and Forecast (US$ Million and Thousand Units)7.4. Injection Molding: Regional Trend and Forecast (US$ Million and Thousand Units)8. Composite Frac Plugs and Balls Market Trend and Forecast by Sales Channel Type (2014-2025)8.1. Insights 8.2. Direct Sales Channel: Regional Trend and Forecast (US$ Million and Thousand Units)8.3. Distributor Sales Channel: Regional Trend and Forecast (US$ Million and Thousand Units)9. Composite Frac Plugs and Balls Market Trend and Forecast by Region (2014-2025)10. Strategic Growth Opportunities10.1. Insights 10.2. Market Attractiveness Analysis 10.3. Emerging Trends 10.4. Growth Matrix Analysis 10.5. Key Success Factors (KSFs) 11. Company Profile of Key Players (Profiling, Financial Information, Competition, Strategies, etc.)11.1. Baker Hughes Company11.2. General Plastics & Composites LP11.3. Halliburton11.4. Nine Energy Service, Inc.11.5. Repeat Precision LLC11.6. Schlumberger Limited11.7. Torquato Drilling Accessories11.8. Weatherford International For more information about this report visit https://www.researchandmarkets.com/r/p5z8pu Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT:
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