Pressure Vessel Composite Materials Market to Grow at a CAGR of 21.4% to reach US$ 3,539.95 Million from 2020 to 2027
The pressure vessel composite materials market size is expected to grow from US$ 1,062.63 million in 2022 to US$ 3,224.09 million by 2028; it is estimated to register a CAGR of 20.3% from 2022 to 2028.
The demand for pressure vessel composite materials has increased owing to their high strength to weight ratio. Pressure vessel composite materials improve performance and offer significant material savings, which drives market growth. The high mechanical strength, toughness, weather resistance, and lightweight properties of pressure vessel composite material as compared with other metal alloys is driving their demand. Furthermore, the rise in the demand for cooling and heating equipment has boosted the growth of the pressure vessel composite materials market. Pressure vessel composite materials offers resistance from corrosion and cross-contamination, which facilitates its usage in various chemical procedures. All these factors are significantly driving the growth of the pressure vessel composite materials market.
In 2021, Asia Pacific held the largest revenue share of the global pressure vessel composite materials market. Asia Pacific is one of the lucrative markets for pressure vessel composite materials owing to rise in the use of pressure vessels in the automotive industry. Pressure vessels are mainly utilized in the automotive sector due to their easy availability and reduced cost. Using CNG and hydrogen vehicles in place of traditional fuel vehicles also favors the growth of the pressure vessel composite materials market in Asia Pacific. Pressure vessel composite materials such as epoxy resins and carbon fiber-reinforced plastics (CFRP) improve efficiency and cost savings for the manufacturers of pressure vessels. Moreover, these materials have high pressure containment property, thereby boosting their adoption in the Asia Pacific market.
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Pressure Vessel Composite Materials Market: Strategic Insights
Market Size Value in US$ 1,062.63 Million in 2022 Market Size Value by US$ 3,224.09 Million by 2028 Growth rate CAGR of 20.3% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Pressure Vessel Composite Materials Market: Strategic Insights
| Market Size Value in | US$ 1,062.63 Million in 2022 |
| Market Size Value by | US$ 3,224.09 Million by 2028 |
| Growth rate | CAGR of 20.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Pressure Vessel Composite Materials Market
Many industries, including the chemicals & materials industry, witnessed negative impacts of COVID-19 pandemic during the initial period. Supply chain disruptions caused by lockdowns and trade restrictions hampered the manufacturing outcomes of various large- and small-scale companies. The pressure vessel composite materials market also witnessed severe impacts of the pandemic in 2020. Due to shortage of raw materials and labor, there was a wide demand and supply gap. Moreover, the automobile industry witnessed significant decline in demand due to pandemic-induced recession, which hampered the sales of CNG or natural gas-powered vehicles. This factor directly affected the demand for pressure vessel composite materials. However, the initiatives by pharmaceutical companies to transport COVID-19 vaccines created new opportunities for pressure vessel composite materials market. For instance, GPI developed a 200-liter pressure vessel for the rapid delivery of COVID-19 vaccines in 2020. Such initiatives taken by manufacturers are expected to drive the pressure vessel composite material market.
In 2021, the marketplace witnessed a positive recovery, as the governments announced relaxation in previously imposed restrictions. The manufacturers were permitted to work at full capacity, leveraging their profitability. This factor is expected to further drive the pressure vessel composite materials market growth over the coming years.
Market Insights
Increasing Demand for Pressure Vessels from Various End-Use Industries
The chemicals industry is growing globally due to the increasing consumption of goods such as fertilizers and other agrochemical products, coatings & adsorbents, LED lightings, plastics, man-made fibers, and research laboratory chemicals. Also, according to the International Council of Chemical Associations (ICCA), the chemical industry was valued at US$ 5.7 trillion in 2019, which was equivalent to a 7% share in the global GDP. Likewise, the petrochemical industry is encountering heightened demand from various construction projects around the globe. Pressure vessels are designed to work by entering the pressure required to make an application function, like holding air in a scuba tank. It can deliver pressure either directly by valves and release gauges or indirectly via heat transfer. Potential pressure levels range from 15 psi to 150,000 psi, whereas temperatures are usually above 400°C (750°F). A pressure tank can hold anywhere from 75 liters (20 gallons) to many thousand liters. Pressure vessels are used in different industries, but three industries cover most of the market—chemicals, oil & gas, and energy industries. The growth in the number of industrial power projects and the replacement of existing pressure vessels are one of the significant factors propelling market growth.
Material Insights
Based on material, the global pressure vessel composite materials market is segmented into resin, fiber, and others. The resin segment held the largest share of the global pressure vessel composite materials market in 2021. Resin or epoxy resin is widely used to produce pressure vessels. As for the class of vessels, plastic-lined composite tanks are anticipated to see the most accelerated growth across the next five years and so is the market for epoxy resins in this category of vessel. Plastic-lined composite tanks use more numerous carbon epoxy composites and also provide maximum weight savings compared to other types of pressure vessels. Plastic-lined composite tank form is frequently penetrating, especially in mass transit buses and medium and heavy commercial vehicles. Lower fuel density and lower mass of these vessels allow for more excellent range and fuel efficiency for medium and heavy-duty commercial vehicles, and also longer operating times between refueling stops and reduced maintenance costs.
A few players operating in the global pressure vessel composite materials market include 3M Co, BASF SE, Huntsman Corporation, Kolon Industries Inc, Mitsubishi Chemical Holdings Corp, Solvay SA, ZOLTEK Corp, Steelhead Composites Inc, Hexion Inc, and Olin Corp. Market players are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and mergers & acquisitions.
Pressure Vessel Composite Materials Market Report Scope
Report Spotlights
- Progressive industry trends in the pressure vessel composite materials market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing countries
- Quantitative analysis of the pressure vessel composite materials market from 2020 to 2028
- Estimation of global demand for pressure vessel composite materials
- PEST analysis to illustrate the political, economic, social, and technological factors impacting the global pressure vessel composite materials market growth.
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the pressure vessel composite materials market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Pressure vessel composite materials market size at various nodes
- Detailed overview and segmentation of the market, as well as the pressure vessel composite materials’ industry dynamics
- Size of the pressure vessel composite materials market in various regions with promising growth opportunities
Company Profiles
- 3M Co
- BASF SE
- Huntsman Corporation
- Kolon Industries Inc
- Mitsubishi Chemical Holdings Corp
- Solvay SA
- ZOLTEK Corp
- Steelhead Composites Inc
- Hexion Inc
- Olin Corp
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global pressure vessel composite materials market is growing with an upward trend and are extensively being utilized in the space technology domain. This factor is expected to provide lucrative opportunities to the pressure vessel composite materials market.
The major players operating in the global pressure vessel composite materials market include 3M Co, BASF SE, Huntsman Corporation, Kolon Industries Inc, Mitsubishi Chemical Holdings Corp, Solvay SA, ZOLTEK Corp, Steelhead Composites Inc, Hexion Inc, and Olin Corp among few others.
Increasing demand for natural gas-fueled vehicles and increasing demand for pressure vessels from various end-use industries are some of the key driving factors for the pressure vessel composite materials market.
Based on end user, hydrogen vehicles segment is the fastest-growing segment in the pressure vessel composite materials market.
Based on the material, the resin segment accounted for the largest revenue share in 2021 owing to high utilization of resins in manufacturing pressure vessels used in mass transit buses and heavy commercial vehicles.
Asia Pacific accounted for the largest share of the global pressure vessel composite materials market owing to high penetration of CNG vehicles in countries like India and Japan coupled with the presence of well-established automotive industry.
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
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 South & Central America PEST Analysis
4.2.5 Middle East & Africa PEST Analysis
4.3 Expert Opinion
5. Pressure Vessel Composite Materials Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Natural Gas-Fueled Vehicles
5.1.2 Increasing Demand for Pressure Vessels from Various End-Use 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
5.4.2 Surging Adoption of Carbon Fiber-Reinforced Plastic (CFRP) Pressure Vessels
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 2028 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Pressure Vessel Composite Materials Market Analysis – By Material
7.1 Overview
7.2 Pressure Vessel Composite Materials Market, By Material (2021 and 2028)
7.3 Resin
7.3.1 Overview
7.3.2 Resin: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Fiber
7.4.1 Overview
7.4.2 Fiber: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (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 (2021 and 2028)
8.3 CNG Vehicles
8.3.1 Overview
8.3.2 CNG Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Hydrogen Vehicles
8.4.1 Overview
8.4.2 Hydrogen Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Gas Transport
8.5.1 Overview
8.5.2 Gas Transport: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (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 2028 (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 2028 (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 2028 (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 2028 (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 2028 (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 2028 (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 2028 (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 UK: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 UK: Pressure Vessel Composite Materials Market, By Material
9.3.4.3.2 UK: Pressure Vessel Composite Materials Market, By End User
9.3.4.4 Italy: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
9.3.4.4.1 Italy: Pressure Vessel Composite Materials Market, By Material
9.3.4.4.2 Italy: Pressure Vessel Composite Materials Market, By End User
9.3.4.5 Russia: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (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 2028 (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 Asia Pacific: Pressure Vessel Composite Materials Market
9.4.1 Asia Pacific: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.4.2 Asia Pacific: Pressure Vessel Composite Materials Market, By Material
9.4.3 Asia Pacific: Pressure Vessel Composite Materials Market, by End User
9.4.4 Asia Pacific: Pressure Vessel Composite Materials Market, by Key Country
9.4.4.1 Australia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (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 2028 (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 2028 (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 2028 (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 2028 (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 Asia Pacific: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of Asia Pacific: Pressure Vessel Composite Materials Market, By Material
9.4.4.6.2 Rest of Asia Pacific: Pressure Vessel Composite Materials Market, by End User
9.5 South and Central America: Pressure Vessel Composite Materials Market
9.5.1 South and Central America: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.5.2 South and Central America: Pressure Vessel Composite Materials Market, By Material
9.5.3 South and Central America: Pressure Vessel Composite Materials Market, by End User
9.5.4 South and Central America: Pressure Vessel Composite Materials Market, by Key Country
9.5.4.1 Brazil: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.1.1 Brazil: Pressure Vessel Composite Materials Market, By Material
9.5.4.1.2 Brazil: Pressure Vessel Composite Materials Market, by End User
9.5.4.2 Argentina: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.2.1 Argentina: Pressure Vessel Composite Materials Market, By Material
9.5.4.2.2 Argentina: Pressure Vessel Composite Materials Market, by End User
9.5.4.3 Rest of South and Central America: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.3.1 Rest of South and Central America: Pressure Vessel Composite Materials Market, By Material
9.5.4.3.2 Rest of South and Central America: Pressure Vessel Composite Materials Market, by End User
9.6 Middle East and Africa: Pressure Vessel Composite Materials Market
9.6.1 Middle East and Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.6.2 Middle East and Africa: Pressure Vessel Composite Materials Market, By Material
9.6.3 Middle East and Africa: Pressure Vessel Composite Materials Market, by End User
9.6.4 Middle East and Africa: Pressure Vessel Composite Materials Market, by Key Country
9.6.4.1 South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 South Africa: Pressure Vessel Composite Materials Market, By Material
9.6.4.1.2 South Africa: Pressure Vessel Composite Materials Market, by End User
9.6.4.2 UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 UAE: Pressure Vessel Composite Materials Market, By Material
9.6.4.2.2 UAE: Pressure Vessel Composite Materials Market, by End User
9.6.4.3 Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 Saudi Arabia: Pressure Vessel Composite Materials Market, By Material
9.6.4.3.2 Saudi Arabia: Pressure Vessel Composite Materials Market, by End User
9.6.4.4 Rest of Middle East and Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.4.1 Rest of Middle East and Africa: Pressure Vessel Composite Materials Market, by Material
9.6.4.4.2 Rest of Middle East and Africa: 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 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 3M Co
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 SWOT Analysis
12.1.5 Key Developments
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
12.2.6 Key Developments
12.3 Huntsman Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products & Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Kolon Industries Inc.
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 Mitsubishi Chemical Holdings Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products & Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Solvay SA
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
12.6.6 Key Developments
12.7 ZOLTEK Corp
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
12.7.6 Key Developments
12.8 Steelhead Composites Inc
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
12.8.6 Key Developments
12.9 Hexion Inc
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
12.9.6 Key Developments
12.10 Olin Corp
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 2028 (US$ Million)
Table 2. Global Pressure Vessel Composite Materials Market, by Material– Revenue and Forecast to 2028 (US$ Million)
Table 3. Global Pressure Vessel Composite Materials Market, by End User– Revenue and Forecast to 2028 (US$ Million)
Table 4. North America Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America Pressure Vessel Composite Materials Market, By End User– Revenue and Forecast to 2028 (US$ Million)
Table 6. US Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 7. US Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 12. Europe: Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 13. Europe: Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 15. Germany Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 16. France Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 17. France Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 18. UK Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 19. UK Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 20. Italy Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 21. Italy Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 26. Asia Pacific Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 27. Asia Pacific Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 28. Australia Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 29. Australia Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 30. China Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 31. China Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 32. India Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 33. India Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 34. Japan Pressure Vessel Composite Materials Market, By Material– Revenue and Forecast to 2028 (US$ Million)
Table 35. Japan Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 36. South Korea Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 37. South Korea Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 38. Rest of Asia Pacific Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 39. Rest of Asia Pacific Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 40. South and Central America Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 41. South and Central America Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 42. Brazil Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 43. Brazil Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 44. Argentina Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 45. Argentina Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 46. Rest of South and Central America Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 47. Rest of South and Central America Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 48. Middle East and Africa Pressure Vessel Composite Materials Market, By Material– Revenue and Forecast to 2028 (US$ Million)
Table 49. Middle East and Africa Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 50. South Africa Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 51. South Africa Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 52. UAE Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 53. UAE Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 54. Saudi Arabia Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 55. Saudi Arabia Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 56. Rest of Middle East and Africa Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 57. Rest of Middle East and Africa Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 58. 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. Global Pressure Vessel Composite Materials Market, By Product Type
Figure 5. Global Pressure Vessel Composite Materials Market, by Geography
Figure 6. Global Pressure Vessel Composite Materials Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. Europe PEST Analysis
Figure 9. Asia Pacific PEST Analysis
Figure 10. South & Central America PEST Analysis
Figure 11. Middle East & Africa PEST Analysis
Figure 12. Expert Opinion
Figure 13. Impact Analysis of Driver and Restraints on Pressure Vessel Composite Materials Market
Figure 14. Geographic Overview of Pressure Vessel Composite Materials Market
Figure 15. Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Pressure Vessel Composite Materials Market: Key Players
Figure 17. Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 18. Resin: Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Fiber: Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. Others: Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21. Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
Figure 22. CNG Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 23. Hydrogen Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 24. Gas Transport: Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 25. Others: Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 26. Global Pressure Vessel Composite Materials Market Revenue Share, By Region (2021 and 2028)
Figure 27. North America: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 28. North America: Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 29. North America: Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
Figure 30. North America: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 31. US: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 32. Canada: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 33. Mexico: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 34. Europe: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 35. Europe: Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 36. Europe: Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
Figure 37. Europe: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 38. Germany: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 39. France: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 40. UK: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 41. Italy: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 42. Russia: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 43. Rest of Europe: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 44. Asia Pacific: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Asia Pacific: Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 46. Asia Pacific: Pressure Vessel Composite Materials Market Revenue Share, by End User (2021 and 2028)
Figure 47. Asia Pacific: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 48. Australia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 49. China: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 50. India: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 51. Japan: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 52. South Korea: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 53. Rest of Asia Pacific: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 54. South and Central America: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. South and Central America: Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 56. South and Central America: Pressure Vessel Composite Materials Market Revenue Share, by End User (2021 and 2028)
Figure 57. South and Central America: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 58. Brazil: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. Argentina: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. Rest of South and Central America: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Middle East and Africa: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. Middle East and Africa: Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 63. Middle East and Africa: Pressure Vessel Composite Materials Market Revenue Share, by End User (2021 and 2028)
Figure 64. Middle East and Africa: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 65. South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 66. UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 67. Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 68. Rest of Middle East and Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 69. Impact of COVID-19 Pandemic in North American Country Markets
Figure 70. Impact of COVID-19 Pandemic on Europe
Figure 71. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 72. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 73. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Pressure Vessel Composite Materials Market
- 3M Co
- BASF SE
- Huntsman Corporation
- Kolon Industries Inc
- Mitsubishi Chemical Holdings Corp
- Solvay SA
- ZOLTEK Corp
- Steelhead Composites Inc
- Hexion Inc
- Olin Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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