(I-BusinessNews.Com, February 21, 2019 )
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
The 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 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.
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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.
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.
As per Stratview Research, 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.
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