Dublin, March 31, 2021 (GLOBE NEWSWIRE) -- The "Pressure Vessel Composite Materials Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material and End User" report has been added to ResearchAndMarkets.com's offering.
According to this report the global 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 % during 2020-2027. The report highlights key driving factors and prominent market players along with their developments in the market.
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 of applications on which it is used 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.
The chemicals industry is growing across the world due to the increasing consumption of goods such as fertilizers and other agrochemical products, coatings and adsorbents, LED lightings, plastics, and human-made fibers, and research laboratory chemicals. 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. Also, the petrochemical industry is receiving a huge demand from various construction projects worldwide.
Pressure vessels are designed to work by reaching the pressure level required to make an application function, such as 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 ranges from 15 psi to 150,000 psi, while temperatures are usually above 400C (750F). A pressure tank can hold anywhere from 75 liters (20 gallons) to many thousand liters. Pressure vessels are used in different industries, but chemical, oil & gas, and energy industry are the main industries.
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. Lockdowns, travel bans, and business shutdown measures are restricting the supplies of chemicals and materials products, which is causing a significant loss for pressure vessels composite materials manufacturers.
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) are among the well-established players in the global pressure vessel composite materials market.
Reasons to Buy
- 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.
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 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
9.3 Europe: Pressure Vessel Composite Materials Market
9.4 APAC: Pressure Vessel Composite Materials Market
9.5 MEA: Pressure Vessel Composite Materials Market
9.6 SAM: Pressure Vessel Composite Materials Market
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 Publisher
13.2 Glossary of Terms
For more information about this report visit https://www.researchandmarkets.com/r/sisgiw