Pressure Vessel Composite Materials Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material (Resin, Fiber, and Others) and End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport, and Others)
The pressure vessel composite materials market was valued at US$ 758.36 million in 2019 and is projected to reach US$ 3,539.95 million by 2027; it is expected to grow at a CAGR of 21.4% from 2020 to 2027.
Pressure vessel composite materials are used in pressure vessels used to store gases and liquids under high pressure. A composite material is a combination of materials that vary in composition or shape on a macro scale. These materials do not dissolve or otherwise blend entirely into each other. Composite materials help boost efficiency and can deliver a large amount of material savings. Therefore, most of them are needed in various industries such as oil refineries, nuclear reactors, automobiles, gas repositories, and aerospace.
Asia Pacific held the largest share of the market in 2019, followed by Europe. The growth of the market in Asia Pacific is primarily attributed to increasing automotive production in the region, growing number of power plants in countries such as China and India, and rising demand for pressure vessel composite materials from various end-use industries such as CNG vehicles, hydrogen vehicles, gas transport, and others across the region. Currently, key players—in developed and developing countries across Asia Pacific—are majorly investing in renewable energy to meet the increasing demand for energy supply, which is expected to fuel the demand for pressure vessels in the near future. Rapid industrialization and huge demand for electricity are the key factors driving the growth of the pressure vessels composite materials market.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures updated on January 2021, there are ~ 83,322,449 confirmed cases and 1,831,412 total deaths globally. The COVID-19 pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and material industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns etc. For instance, China is the global manufacturing hub and largest raw material supplier for various industries; it is also one of the worst affected countries. The lockdown of various plants and factories in China is hindering the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals and materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemical and materials industry in a negative manner, and thus act as restraining factor for the growth of various markets related to this industry.
Geographic Overview Pressure Vessel Composite Materials Market
Market Insights
Increasing Use of Natural Gas Vehicles
Natural gas vehicles (NGV) use liquefied natural gas (LNG) or compressed natural gas (CNG) stored in a composite pressure vessel. The NGV is coupled with a composite pressure vessel; therefore, the growing use of the NGV would drive the growth of the market in the forecast period. Moreover, NGVs are good options for centrally fuelled fleets and high mileage as they can provide the same fuel range support for applications that are not interested in long haul routes where fuel stations can become scarce. As a transportation fuel, natural gas offers various benefits such as extensive distribution infrastructure, domestic supply, and reduced greenhouse gas emissions over traditional gasoline and diesel fuels. According to the Natural gas vehicles (NGV) global base, in 2019, there were 27,765,376 natural gas vehicles present, whereas the Asia Pacific recorded 19,841,688 natural gas vehicles.
Moreover, high-pressure gas storage vessels represent one of the fastest-growing and most significant markets for advanced composites, especially for filament wound carbon fiber composites. Although they are used in self-contained breathing apparatuses and also provides oxygen and gas storage on aerospace vehicles. The principal end-markets for composite-reinforced pressure vessels are bulk transportation, also called mobile pipeline of compressed natural gas (CNG) products, and fuel storage in buses, passenger cars, and trucks with powertrains dependent on compressed natural gas and hydrogen alternatives to diesel and gasoline. Therefore, increasing natural gas vehicles in the chemical and material industry drives the growth of the market in the forecast period.
Material Type Insights
Based on material, the pressure vessel composite materials market is segmented into resin, fiber, and others. The resin segment led the pressure vessel composite materials market with the largest market share in 2019. Resin or epoxy resin is widely used in the pressure vessel composite materials market to produce pressure vessels. For the class of vessels, plastic-lined composite tanks are anticipated to see the most accelerated growth in the next five years. The market for epoxy resins in this category of a vessel as plastic-lined composite tanks uses more numerous carbon epoxy composites and also provides maximum weight savings compared to other types of pressure vessels. Plastic-lined composite tank form is frequently used in mass transit buses and medium and heavy commercial vehicles, which drives the growth of the market.
End User Insights
Based on end user, the pressure vessel composite materials market is segmented into CNG vehicles, hydrogen vehicles, gas transport, and others. The CNG vehicles segment led the market with the largest market share in 2019. It held a significant share in the market it costs lower than other vehicles. The pressure vessel's outer shells are made of a conventional metal alloy, which is used to store fuel in a truck, car, or bus equivalent to a gas tank for a combustion engine or applications for bulk storage. Composite CNG pressure vessel has safer burst behavior for passenger vehicles as opposed to metallic CNG. The lining used for CNG pressure vessels are made from HDPE, and carbon fibers are used to wind the vessel filament and be used in diesel fuel, gasoline, and liquefied petroleum gas (LPG). CNG combustion also produces fewer undesirable gases than diesel fuel, gasoline, and LPG mentioned fuels. These factors has led to an increased sales of pressure vessel composite materials through end user.
Global Pressure Vessel Composite Materials Market, by Material Type – 2019 and 2027
Strategic Insights
A few key players operating in the pressure vessel composite materials market are 3M Company; BASF SE; Hexion Inc.; Huntsman International LLC.; Kolon Industries. Inc.; Mitsubishi Chemical Corporation; Olin Corporation; Solvay S.A.; Steelhead Composites, LLC.; and ZOLTEK Corporation (Toray Group). Major market players are focusing on strategies such as mergers and acquisitions, and product launches to increase their geographical presence and consumer base globally. For instance, in 2020, Hexion Inc. ('Hexion' or 'Company') announced that it would raise all off-list prices for the epoxy resins named as EPIKOTE Resin Solutions, EPONTM Solid Epoxy Resin, EPONTM Liquid Epoxy Resin, and Bisphenol A in North America and South America—effective from March 1, 2020 or as contract permits. The company stated that the price change is mainly motivated by a rise in the cost of key raw materials and all other terms and conditions of sale shall remain unchanged.
Report Spotlights
- Progressive industry trends in the global pressure vessel composite materials market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global pressure vessel composite materials market from 2017 to 2027
- Estimation of the demand for pressure vessel composite materials across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for pressure vessel composite materials
- Market trends and outlook coupled with factors driving and restraining the growth of the Pressure Vessel Composite Material market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global pressure vessel composite materials market growth
- pressure vessel composite materials market size at various nodes of market
- Detailed overview and segmentation of the global pressure vessel composite materials market as well as its dynamics in the industry
- pressure vessel composite materials market size in various regions with promising growth opportunities
Pressure Vessel Composite Materials Market, by Material
- Resin
- Fiber
- Others
Pressure Vessel Composite Materials Market, by End User
- CNG Vehicles
- Hydrogen Vehicles
- Gas Transport
- Others
Company Profiles
- 3M Company
- BASF SE
- Hexion Inc.
- Huntsman International LLC.
- Kolon Industries. Inc.
- Mitsubishi Chemical Corporation
- Olin Corporation
- Solvay S.A.
- Steelhead Composites, LLC.
- ZOLTEK Corporation (Toray Group)
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Pressure Vessel Composite Materials Market, by Material
1.3.2 Pressure Vessel Composite Materials Market, by End User
1.3.3 Pressure Vessel Composite Materials Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Pressure Vessel Composite Materials Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Pressure Vessel Composite Materials Market – Key Market Dynamics
5.1 Driver
5.1.1 Increasing Natural Gas Vehicles
5.1.2 Increasing Demand for Pressure Vessels from Various End-User Industries
5.2 Restraint
5.2.1 Storage Capacity of Composite Pressure Vessels
5.3 Opportunity
5.3.1 Increasing use of Pressure Vessel Composite Materials for Space Technology
5.4 Future Trend
5.4.1 Rising Demand for Epoxy Resins
5.5 Impact Analysis Of Drivers And Restraints
6. Pressure Vessel Composite Materials – Global Market Analysis
6.1 Pressure Vessel Composite Materials Market Overview
6.2 Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Global Market Players
7. Pressure Vessel Composite Materials Market Analysis – By Material
7.1 Overview
7.2 Pressure Vessel Composite Materials Market, By Material (2019 and 2027)
7.3 Resin
7.3.1 Overview
7.3.2 Resin: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Fiber
7.4.1 Overview
7.4.2 Fiber: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8. Pressure Vessel Composite Materials Market Analysis – By End-User
8.1 Overview
8.2 Pressure Vessel Composite Materials Market, By End-User (2019 and 2027)
8.3 CNG Vehicles
8.3.1 Overview
8.3.2 CNG Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Hydrogen Vehicles
8.4.1 Overview
8.4.2 Hydrogen Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Gas Transport
8.6.1 Overview
8.6.2 Gas Transport: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
9. Pressure Vessel Composite Materials Market – Geographic Analysis
9.1 Overview
9.2 North America: Pressure Vessel Composite Materials Market
9.2.1 North America: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Pressure Vessel Composite Materials Market, by Material
9.2.3 North America: Pressure Vessel Composite Materials Market, by End User
9.2.4 North America: Pressure Vessel Composite Materials Market, by Key Country
9.2.4.1 US: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Pressure Vessel Composite Materials Market, by Material
9.2.4.1.2 US: Pressure Vessel Composite Materials Market, by End User
9.2.4.2 Canada: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Pressure Vessel Composite Materials Market, by Material
9.2.4.2.2 Canada: Pressure Vessel Composite Materials Market, by End User
9.2.4.3 Mexico: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Pressure Vessel Composite Materials Market, by Material
9.2.4.3.2 Mexico: Pressure Vessel Composite Materials Market, by End User
9.3 Europe: Pressure Vessel Composite Materials Market
9.3.1 Europe: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Pressure Vessel Composite Materials Market, by Material
9.3.3 Europe: Pressure Vessel Composite Materials Market, by End User
9.3.4 Europe: Pressure Vessel Composite Materials Market, by Key Country
9.3.4.1 Germany: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Pressure Vessel Composite Materials Market, by Material
9.3.4.1.2 Germany: Pressure Vessel Composite Materials Market, by End User
9.3.4.2 France: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Pressure Vessel Composite Materials Market, by Material
9.3.4.2.2 France: Pressure Vessel Composite Materials Market, by End User
9.3.4.3 Italy: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Italy: Pressure Vessel Composite Materials Market, by Material
9.3.4.3.2 Italy: Pressure Vessel Composite Materials Market, by End User
9.3.4.4 UK: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Pressure Vessel Composite Materials Market, by Material
9.3.4.4.2 UK: Pressure Vessel Composite Materials Market, by End User
9.3.4.5 Russia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Pressure Vessel Composite Materials Market, by Material
9.3.4.5.2 Russia: Pressure Vessel Composite Materials Market, by End User
9.3.4.6 Rest of Europe: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Pressure Vessel Composite Materials Market, by Material
9.3.4.6.2 Rest of Europe: Pressure Vessel Composite Materials Market, by End User
9.4 APAC: Pressure Vessel Composite Materials Market
9.4.1 APAC: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Pressure Vessel Composite Materials Market, by Material
9.4.3 APAC: Pressure Vessel Composite Materials Market, by End User
9.4.4 APAC: Pressure Vessel Composite Materials Market, by Key Country
9.4.4.1 Australia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 Australia: Pressure Vessel Composite Materials Market, by Material
9.4.4.1.2 Australia: Pressure Vessel Composite Materials Market, by End User
9.4.4.2 China: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 China: Pressure Vessel Composite Materials Market, by Material
9.4.4.2.2 China: Pressure Vessel Composite Materials Market, by End User
9.4.4.3 India: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Pressure Vessel Composite Materials Market, by Material
9.4.4.3.2 India: Pressure Vessel Composite Materials Market, by End User
9.4.4.4 Japan: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 Japan: Pressure Vessel Composite Materials Market, by Material
9.4.4.4.2 Japan: Pressure Vessel Composite Materials Market, by End User
9.4.4.5 South Korea: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Pressure Vessel Composite Materials Market, by Material
9.4.4.5.2 South Korea: Pressure Vessel Composite Materials Market, by End User
9.4.4.6 Rest of APAC: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Pressure Vessel Composite Materials Market, by Material
9.4.4.6.2 Rest of APAC: Pressure Vessel Composite Materials Market, by End User
9.5 MEA: Pressure Vessel Composite Materials Market
9.5.1 MEA: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA: Pressure Vessel Composite Materials Market, by Material
9.5.3 MEA: Pressure Vessel Composite Materials Market, by End User
9.5.4 MEA: Pressure Vessel Composite Materials Market, by Key Country
9.5.4.1 South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Pressure Vessel Composite Materials Market, by Material
9.5.4.1.2 South Africa: Pressure Vessel Composite Materials Market, by End User
9.5.4.2 Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Saudi Arabia: Pressure Vessel Composite Materials Market, by Material
9.5.4.2.2 Saudi Arabia: Pressure Vessel Composite Materials Market, by End User
9.5.4.3 UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 UAE: Pressure Vessel Composite Materials Market, by Material
9.5.4.3.2 UAE: Pressure Vessel Composite Materials Market, by End User
9.5.4.4 Rest of MEA: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Pressure Vessel Composite Materials Market, by Material
9.5.4.4.2 Rest of MEA: Pressure Vessel Composite Materials Market, by End User
9.6 SAM: Pressure Vessel Composite Materials Market
9.6.1 SAM: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 SAM: Pressure Vessel Composite Materials Market, by Material
9.6.3 SAM: Pressure Vessel Composite Materials Market, by End User
9.6.4 SAM: Pressure Vessel Composite Materials Market, by Key Country
9.6.4.1 Brazil: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Pressure Vessel Composite Materials Market, by Material
9.6.4.1.2 Brazil: Pressure Vessel Composite Materials Market, by End User
9.6.4.2 Argentina: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Pressure Vessel Composite Materials Market, by Material
9.6.4.2.2 Argentina: Pressure Vessel Composite Materials Market, by End User
9.6.4.3 Rest of SAM: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Pressure Vessel Composite Materials Market, by Material
9.6.4.3.2 Rest of SAM: Pressure Vessel Composite Materials Market, by End User
10. Impact of COVID-19 Pandemic on Global Pressure Vessel Composite Material Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.6 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Merger and Acquisition
11.3 Product News
12. Key Company Profiles
12.1 3M COMPANY
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.2 BASF SE
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 HEXION INC.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 HUNTSMAN INTERNATIONAL LLC.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 KOLON INDUSTRIES. INC.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.6 MITSUBISHI CHEMICAL CORPORATION
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.7 OLIN CORPORATION
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.8 SOLVAY S.A.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products And Services
12.8.4 Financial Overview
12.8.5 Swot Analysis
12.9 STEELHEAD COMPOSITES, LLC.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products And Services
12.9.4 Financial Overview
12.9.5 Swot Analysis
12.10 ZOLTEK CORPORATION (TORAY GROUP)
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products And Services
12.10.4 Financial Overview
12.10.5 Swot Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. North America Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 4. US Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 5. US Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 10. Europe Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 11. Europe Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 12. Germany Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 13. Germany Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 14. France Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 15. France Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 16. Italy Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 17. Italy Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 18. UK Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 19. UK Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 20. Russia Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 21. Russia Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of Europe Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of Europe Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 24. APAC Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 25. APAC Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 26. MEA Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 27. MEA Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 28. SAM Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 29. SAM Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 30. Brazil Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 31. Brazil Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 32. Argentina Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 33. Argentina Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of SAM Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 35. Rest of SAM Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 36. Glossary of Terms, Global Pressure Vessel Composite Materials Market
LIST OF FIGURES
Figure 1. Pressure Vessel Composite Materials Market Segmentation
Figure 2. Pressure Vessel Composite Materials Market Segmentation – By Geography
Figure 3. Global Pressure Vessel Composite Materials Market Overview
Figure 4. CNG Vehicles Segment Held Largest Share of Global Pressure Vessel Composite Materials Market
Figure 5. Asia Pacific Region Held Largest Share of Global Pressure Vessel Composite Materials Market
Figure 6. Global Pressure Vessel Composite Materials Market, Industry Landscape
Figure 7. North America: PEST Analysis
Figure 8. Europe: PEST Analysis
Figure 9. APAC: PEST Analysis
Figure 10. MEA: PEST Analysis
Figure 11. SAM: PEST Analysis
Figure 12. Expert Opinion
Figure 13. Pressure Vessel Composite Materials Market Impact Analysis Of Driver And Restraints
Figure 14. Geographic Overview of Pressure Vessel Composite Materials Market
Figure 15. Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 17. Resin: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Fiber: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Pressure Vessel Composite Materials Market Revenue Share, by End-User (2019 and 2027)
Figure 21. CNG Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Hydrogen Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Gas Transport: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. Global Pressure Vessel Composite Materials Market Revenue Share, by Region (2019 and 2027)
Figure 26. North America: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. North America: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 28. North America: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 29. North America: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 30. US: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 31. Canada: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 32. Mexico: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 33. Europe: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Europe: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 35. Europe: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 36. Europe: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 37. Germany: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 38. France: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 39. Italy: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 40. UK: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 41. Russia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 42. Rest of Europe: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 43. APAC: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. APAC: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 45. APAC: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 46. APAC: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 47. Australia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 48. China: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 49. India: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 50. Japan: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 51. South Korea: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 52. Rest of APAC: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 53. MEA: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. MEA: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 55. MEA: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 56. MEA: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 57. South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 58. Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 59. UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 60. Rest of MEA: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 61. SAM: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 62. SAM: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 63. SAM: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 64. SAM: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 65. Brazil: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 66. Argentina: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 67. Rest of SAM: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 68. Impact of COVID-19 Pandemic in North American Country Markets
Figure 69. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 70. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 71. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 72. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Pressure Vessel Composite Materials Market
- 3M Company
- BASF SE
- Hexion Inc.
- Huntsman International LLC.
- Kolon Industries. Inc.
- Mitsubishi Chemical Corporation
- Olin Corporation
- Solvay S.A.
- Steelhead Composites, LLC.
- ZOLTEK Corporation (Toray Group)
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global pressure vessel composite materials market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Frequently Asked Questions
The major players operating in the global pressure vessel composite materials market are 3M Company, BASF SE, Hexion Inc., Huntsman International LLC., Kolon Industries. Inc., Mitsubishi Chemical Corporation, Olin Corporation, Solvay S.A., Steelhead Composites, LLC. And ZOLTEK Corporation (Toray Group) and among others.
In 2019 , the pressure vessel composite materials market was dominated by North America region at the global level. The surge in demand for pressure vessels in the energy sector to contain harmful gases is the major factor driving the pressure vessel composite materials market in North America. The demand for pressure vessel composite materials have increased owing to their high-strength to weight. The pressure vessel composite materials improve the performance and offer significant amount of material savings which in turn drives the market growth.
The epoxy resins segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as its high weather-resistant properties, mechanical and adhesive properties play a substantial role in the epoxy resins segment to maintain its market position. Hence, the resin type is anticipated to drive the global pressure vessel composite materials market over the forecast period.