Pressure Vessel Composite Materials Market

Pressure Vessel Composite Materials Market (Material - Epoxy Resin, Glass Fiber, Carbon Fiber, and Other Materials; End-use Industry - Hydrogen Vehicles, CNG Vehicles, Gas Transport, and Other End-use Industries): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : December, 2019

  • Rep Id : CM00810

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the pressure vessel composite materials market provides an in-depth analysis of segments and sub-segments in the global as well as regional pressure vessel composite materials market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pressure vessel composite materials market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global pressure vessel composite materials market. According to the report, the global pressure vessel composite materials market is projected to grow at a CAGR of 22.1% over the forecast period of 2019-2025.

 

Market Insight

Pressure vessels are ergonomically designed chambers that enclose gases or liquids. These vessels are of different shapes, the most common is cylindrical and conical for industrial applications. Pressure vessels are used in a wide range of applications such as distillation towers, power plants, and hot water storage tanks. Companies operating in the global pressure vessel composite materials market are focusing on strategic mergers, acquisitions, and new product launches that maximize their market share.

 

The increasing use of carbon fiber in manufacturing pressure vessels drives the growth of the pressure vessel composite materials market. The rising demand for pressure vessel composite materials from various end-use industries contributes to the growth of the pressure vessel composite materials market. The rising industrialization and growing demand for electricity stimulate the growth of the pressure vessel composite materials market. The rising investments by key market players for renewable energy promote demand for power supply contributing to the growth of the pressure vessel composite materials market. In addition, the superior properties of composites materials compared to metal alloys boost the growth of the pressure vessel composite materials market. On the flip side, the high cost of carbon fiber and price fluctuations of crude oil hamper the growth of the pressure vessel composite materials market. Moreover, research and development create several opportunities for the growth of the pressure vessel composite materials market.

 

Based on geography, the global pressure vessel composite materials market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to hold a premium share in the global pressure vessel composite materials market. China and India dominate the global pressure vessel composite materials market due to the rising number of automobile manufacturers. Europe is expected to grow in the pressure vessel composite materials market with a healthy CAGR over the forecast period. North America is showing growth in the global pressure vessel composite materials market. 

 

Segment Covered

The report on global pressure vessel composite materials market covers segments such as material and end-use industry. On the basis of material, the sub-markets include epoxy resin, glass fiber, carbon fiber, and other materials. On the basis of the end-use industry, the sub-markets include hydrogen vehicles, CNG vehicles, gas transport, and other end-use industries.

 

Companies Profiled:

The report provides profiles of the companies in the market such as 3M Company, Hexion Inc., Olin Corporation, Doosan Infracore Co., Ltd., Nippon Steel and Sumitomo Metal Corp., Alloy Products Corp., Pentair plc, Air Products and Chemicals, Inc., Huntsman International LLC, Nan Ya Plastics Corp., and other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of pressure vessel composite materials market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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