(I-BusinessNews.Com, January 03, 2019 )
Stratview Research has published a new research report on Composite Frac Plugs and Frac Balls Market. This extensive report by Stratview Research analyses the growth of Composite Frac Plugs and Frac Balls Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023 under the following segments –
• by Product Type (Frac Plugs, Frac Balls)
• by Resin Type (Epoxy Resin, Phenolic Resin, Other Resins)
• by Manufacturing Process Type (Injection Molding, Filament Winding, Other Processes)
• by Sales Channel Type (Direct Sales, Distributors)
• by Region (North America, Europe, Asia-Pacific, Rest of the World)
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Use of frac plugs & frac balls
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.
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.
Top market players
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.
The key composite frac plug and frac ball manufacturers are Baker Hughes, Magnum Oil Tools, The Gund Co, Team Oil Tools, and Downhole Composites. New product development, collaboration with customers, and regional expansion are the key strategies adopted by the major players to gain a competitive edge in the market.
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Ritesh Gandecha
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Source: EmailWire.Com 
