Status : Published | Published On : Jan, 2021 | Report Code : VREP3011 | Industry : Energy & Power | Available Format :
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Page : 165 |
Industry Overview
The world market size for Composite Cylinders will hit USD 940 million by 2025, from USD 690 million by 2020 and 6.4% by CAGR between 2020 and 2025.
Thanks to their unique properties such as lightweight and not corrosive, composite cylinders are used more and more in developed and developing countries. Furthermore, they can be used as an alternative to steel cylinders. This reduces the cost of production and increases the company's sales growth. As a result, many producer investments in the composite cylinder industry have been gradually growing. Furthermore, the composite polymers are UV safe, non-corrosive and explosion-proof. Due to this, the demand for gas and oil products is rising, these stain proof and translucent properties help measure or suggest gas in the cylinder. Furthermore, these cylinders can be transported easily because they are lightweight. This aspect also contributes to reducing transport costs.
Composite LPG cylinder composed and attached with resin are composed of helically woven fibre. They represent a significant shift to a new generation technology that has desirable characteristics, including 100% recyclable and UV-resistant characteristics, to name a few.
Composite cylinders on the safety front boast not to be explosive, even if engulfed in flames. The composite solution is unusual in that the composition is transparent and allows for an easy visibility in the previously impossible LP gas levels, in addition to being fifty per cent lighter than traditional stainless-steel cylinders.
The growth of the composite cylinder market can nevertheless be hampered by environmental products and governmental strict policies. Continuous raw material availability and customer knowledge are also one of the most significant challenges to the composite cylinder industry. Due to increased demand from the packaging and electronics industry, the composite cylinder external casing material segment is expected to develop strongly over the forecast period. Due to its lightweight and energy saving applications, such as electronics transportation, wooden materials or other items, the growing application of composite cylinder systems has been having a positive effect.
The size of the demand for composite cylinder is expected to rise significantly from 2019 to 2025. The composite cylinders will be expanding with rising demand for lightweight storage solutions combined with the growing amount of natural gas vehicles. The industry landscape would be increased by continuous urbanization along with an increasingly increasing population.
The growing transport industry, combined with the strict safety requirements for safe gas transport, would drive the market share of the composite cylinders. The growing adoption and easy handling of the product would improve the market landscape due to its explosion bearing ability. The composite cylinder consists of a transparent structure that allows the consumer to see the amount of gas clearly.
These cylinders are commonly used in different industries, including help for life, leisure industries and other industries. Moreover, strict environmental policies for the manufacture of these cylinders would have a negative effect on the growth of the company. In the manufacturing process, however, recycled material is used to minimize cost of product and its effect on the environment. Due to growing R&D efforts and the favourable government rules to encourage LPG adoption, the composite cylinders market is expected to expand.
Market Segmentation of Global Composite Cylinder
By Outer Casing Material
The high-density polyethylene group was one of the most important outdoor casing materials and is projected in the coming years to remain the largest category. The rise in the category of high-density polyethylene is primarily based on its lightweight features and higher performance benefits.
By Tank Type
Based on type III and type IV cylinders, the global LPG composite market is segmented. Type IV is the most common type of cylinder on the LPG composite market. During the forecast era, the cylinder type is expected to be greater and faster to develop. All the main composite manufacturers of LPG cylinders are only present in type IV tanks. The cylinders Type IV provides the highest weight reduction and increased explosive pressure in contrast to the cylinders Type I and Type III.
By End Use Industry
The global composite cylinder market will be powered by an expansion in the household segment. Composite cylinder is commonly used in homes and hotels for cooking purposes. They are commonly used in hospitals, naval, chemical and spacecraft as oxygen cylinders. Oxygen, nitrogen, and hydrogen cylinders are also used in the chemical industry in reactions of chemical processing. CNG cylinders are widely used as fuel for automobiles in the automotive industry. Composite cylinders are commonly used for scuba diving because they are lighter in weight.
By Region
Regional research in North America, Europe, Asia Pacific and Rest of the World of the worldwide composite cylinder industry is split. Asia Pacific is one of Composite Cylinder's fastest-growing markets by area. An increasing chemical and packaging industry in different developing and developed countries is likely to boost demand for composite cylinders. Other driving forces in the Asia Pacific world of composite cylinders include a greater understanding of composite cylinders and a rapid industrialization in developing economies. Moreover, North America is estimated to have a significant share of the world market for composite cylinders because of its high per-capita consumption of goods.
Competitive Landscape and Key players of Global Composite Cylinder Market
There is a very large concentration in the global composite cylinders industry. Luxfer Gas Cylinder, Hexagon Composites, Aburi Composites, Faber Industry and Worthington Cylinders are all leading producers in North America and Europe.
News Update for Global Composite Cylinders Market
Rolls-Royce has also built robots at the £25m facility that can manufacture carbon fiber fan blades, a project that took over 10 years to complete. Giant robots have a diameter of around 3,7 m (almost 12ft) to make up thousands of strips of carbon fibre tapping. The cylinder is the outer covering of the latest engine of Rolls-Royce, the Ultrafan. This is critical because the aerospace industry is under pressure to reduce its effects on the environment. Aircraft become more effective, but airline traffic rises more rapidly.
The Indian Government says that the gas system decreases the use of household fuels which are more contaminating. However, the cost of having cylinders refilled decreases their initial accomplishments. This has contributed to a substantial rise in households using LPG. For each free LPG connection, they build in homes, the government system pays gas suppliers. The first LPG cylinder is to be installed on an interest-free government loan from every connected household.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
Source: VynZ Research
Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Tank Type
1.2.2. By Outer Casing Material
1.2.3. By End Use Industry
1.3. Research Phases
1.4. Limitations
1.5. Research Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2025
5. Market Segmentation Estimate and Forecast
5.1. By Tank Type
5.1.1. Type I
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2025
5.1.2. Type II
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2025
5.1.3. Type III
5.1.3.1. Market Definition
5.1.3.2. Market Estimation and Forecast to 2025
5.1.4. Type IV
5.1.4.1. Market Definition
5.1.4.2. Market Estimation and Forecast to 2025
5.2. By Outer Casing Material
5.2.1. Glass Fibers
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2025
5.2.2. Carbon Fibers
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2025
5.2.3. High Density Polyethylene
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2025
5.2.4. Others
5.2.4.1. Market Definition
5.2.4.2. Market Estimation and Forecast to 2025
5.3. By End Use Industry
5.3.1. Hotels & Restaurants
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2025
5.3.2. Household Purpose
5.3.2.1. Market Definition
5.3.2.2. Market Estimation and Forecast to 2025
5.3.3. Industrial Fuel
5.3.3.1. Market Definition
5.3.3.2. Market Estimation and Forecast to 2025
5.3.4. Industrial Process
5.3.4.1. Market Definition
5.3.4.2. Market Estimation and Forecast to 2025
5.3.5. Automotive
5.3.5.1. Market Definition
5.3.5.2. Market Estimation and Forecast to 2025
6. North America Market Estimate and Forecast
6.1. By Tank Type
6.2. By Outer Casing Material
6.3. By End Use Industry
6.4. By Country
6.4.1. U.S. Market Estimate and Forecast
6.4.2. Canada Market Estimate and Forecast
6.4.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Tank Type
7.2. By Outer Casing Material
7.3. By End Use Industry
7.4. By Country
7.4.1. Germany Market Estimate and Forecast
7.4.2. France Market Estimate and Forecast
7.4.3. U.K. Market Estimate and Forecast
7.4.4. Italy Market Estimate and Forecast
7.4.5. Spain Market Estimate and Forecast
7.4.6. Russia Market Estimate and Forecast
7.4.7. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Tank Type
8.2. By Outer Casing Material
8.3. By End Use Industry
8.4. By Country
8.4.1. China Market Estimate and Forecast
8.4.2. Japan Market Estimate and Forecast
8.4.3. India Market Estimate and Forecast
8.4.4. South Korea Market Estimate and Forecast
8.4.5. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Tank Type
9.2. By Outer Casing Material
9.3. By End Use Industry
9.4. By Country
9.4.1. Brazil Market Estimate and Forecast
9.4.2. Saudi Arabia Market Estimate and Forecast
9.4.3. South Africa Market Estimate and Forecast
9.4.4. U.A.E. Market Estimate and Forecast
9.4.5. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Luxfer Gas Cylinders
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. AMS Composite Cylinders
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. Hexagon Composites ASA
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. FABER INDUSTRIES S.P.A
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Dragerwerk
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. Worthington Cylinders
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. Sinoma
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. Quantum Technologies
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. Aburi Composites
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. HITACHI
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Composite Cylinders Market Size, by Tank Type, 2015 – 2019 (USD Million)
Table 5 Global Composite Cylinders Market Size, by Tank Type, 2020 – 2025 (USD Million)
Table 6 Global Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2019 (USD Million)
Table 7 Global Composite Cylinders Market Size, by Outer Casing Material, 2020 – 2025 (USD Million)
Table 8 Global Composite Cylinders Market Size, by End Use Industry, 2015 – 2019 (USD Million)
Table 9 Global Composite Cylinders Market Size, by End Use Industry, 2020 – 2025 (USD Million)
Table 10 Global Composite Cylinders Market Size, by Region, 2015 – 2019 (USD Million)
Table 11 Global Composite Cylinders Market Size, by Region, 2020 – 2025 (USD Million)
Table 12 North America Composite Cylinders Market Size, by Tank Type, 2015 – 2019 (USD Million)
Table 13 North America Composite Cylinders Market Size, by Tank Type, 2020 – 2025 (USD Million)
Table 14 North America Composite Cylinders Market Size, by Outer Casing Material, 2015–2019 (USD Mn)
Table 15 North America Composite Cylinders Market Size, by Outer Casing Material, 2020–2025 (USD Mn)
Table 16 North America Composite Cylinders Market Size, by End Use Industry, 2015–19 (USD Mn)
Table 17 North America Composite Cylinders Market Size, by End Use Industry, 2020–25 (USD Mn)
Table 18 North America Composite Cylinders Market Size, by Country, 2015 – 2019 (USD Million)
Table 19 North America Composite Cylinders Market Size, by Country, 2020 – 2025 (USD Million)
Table 20 Europe Composite Cylinders Market Size, by Tank Type, 2015 – 2019 (USD Million)
Table 21 Europe Composite Cylinders Market Size, by Tank Type, 2020 – 2025 (USD Million)
Table 22 Europe Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2019 (USD Million)
Table 23 Europe Composite Cylinders Market Size, by Outer Casing Material, 2020 – 2025 (USD Million)
Table 24 Europe Composite Cylinders Market Size, by End Use Industry, 2015 – 2019 (USD Million)
Table 25 Europe Composite Cylinders Market Size, by End Use Industry, 2020 – 2025 (USD Million)
Table 26 Europe Composite Cylinders Market Size, by Country, 2015 – 2019 (USD Million)
Table 27 Europe Composite Cylinders Market Size, by Country, 2020 – 2025 (USD Million)
Table 28 Asia-Pacific Composite Cylinders Market Size, by Tank Type, 2015 – 2019 (USD Million)
Table 29 Asia-Pacific Composite Cylinders Market Size, by Tank Type, 2020 – 2025 (USD Million)
Table 30 Asia-Pacific Composite Cylinders Market Size, by Outer Casing Material, 2015–19 (USD Million)
Table 31 Asia-Pacific Composite Cylinders Market Size, by Outer Casing Material, 2020–25 (USD Million)
Table 32 Asia-Pacific Composite Cylinders Market Size, by End Use Industry, 2015 – 2019 (USD Million)
Table 33 Asia-Pacific Composite Cylinders Market Size, by End Use Industry, 2020 – 2025 (USD Million)
Table 34 Asia-Pacific Composite Cylinders Market Size, by Country, 2015 – 2019 (USD Million)
Table 35 Asia-Pacific Composite Cylinders Market Size, by Country, 2020 – 2025 (USD Million)
Table 36 RoW Composite Cylinders Market Size, by Tank Type, 2015 – 2019 (USD Million)
Table 37 RoW Composite Cylinders Market Size, by Tank Type, 2020 – 2025 (USD Million)
Table 38 RoW Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2019 (USD Million)
Table 39 RoW Composite Cylinders Market Size, by Outer Casing Material, 2020 – 2025 (USD Million)
Table 40 RoW Composite Cylinders Market Size, by End Use Industry, 2015 – 2019 (USD Million)
Table 41 RoW Composite Cylinders Market Size, by End Use Industry, 2020 – 2025 (USD Million)
Table 42 RoW Composite Cylinders Market Size, by Country, 2015 – 2019 (USD Million)
Table 43 RoW Composite Cylinders Market Size, by Country, 2020 – 2025 (USD Million)
Table 44 Snapshot – Luxfer Gas Cylinders
Table 45 Snapshot – AMS Composite Cylinders
Table 46 Snapshot – Hexagon Composites ASA
Table 47 Snapshot – FABER INDUSTRIES S.P.A
Table 48 Snapshot – Dragerwerk
Table 49 Snapshot – Worthington Cylinders
Table 50 Snapshot – Sinoma
Table 51 Snapshot – Quantum Technologies
Table 52 Snapshot – Aburi Composites
Table 53 Snapshot – HITACHI
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Composite Cylinders Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Composite Cylinders Market Highlight
Figure 12 Global Composite Cylinders Market Size, by Tank Type, 2015 – 2025 (USD Million)
Figure 13 Global Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2025 (USD Million)
Figure 14 Global Composite Cylinders Market Size, by End Use Industry, 2015 – 2025 (USD Million)
Figure 15 Global Composite Cylinders Market Size, by Region, 2015 – 2025 (USD Million)
Figure 16 North America Composite Cylinders Market Highlight
Figure 17 North America Composite Cylinders Market Size, by Tank Type, 2015 – 2025 (USD Million)
Figure 18 North America Composite Cylinders Market Size, by Outer Casing Material, 2015–2025 (USD Million)
Figure 19 North America Composite Cylinders Market Size, by End Use Industry, 2015 – 2025 (USD Million)
Figure 20 North America Composite Cylinders Market Size, by Country, 2015 – 2025 (USD Million)
Figure 21 Europe Composite Cylinders Market Highlight
Figure 22 Europe Composite Cylinders Market Size, by Tank Type, 2015 – 2025 (USD Million)
Figure 23 Europe Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2025 (USD Million)
Figure 24 Europe Composite Cylinders Market Size, by End Use Industry, 2015 – 2025 (USD Million)
Figure 25 Europe Composite Cylinders Market Size, by Country, 2015 – 2025 (USD Million)
Figure 26 Asia-Pacific Composite Cylinders Market Highlight
Figure 27 Asia-Pacific Composite Cylinders Market Size, by Tank Type, 2015 – 2025 (USD Million)
Figure 28 Asia-Pacific Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2025 (USD Million)
Figure 29 Asia-Pacific Composite Cylinders Market Size, by End Use Industry, 2015 – 2025 (USD Million)
Figure 30 Asia-Pacific Composite Cylinders Market Size, by Country, 2015 – 2025 (USD Million)
Figure 31 RoW Composite Cylinders Market Highlight
Figure 32 RoW Composite Cylinders Market Size, by Tank Type, 2015 – 2025 (USD Million)
Figure 33 RoW Composite Cylinders Market Size, by Outer Casing Material, 2015 – 2025 (USD Million)
Figure 34 RoW Composite Cylinders Market Size, by End Use Industry, 2015 – 2025 (USD Million)
Figure 35 RoW Composite Cylinders Market Size, by Country, 2015 – 2025 (USD Million)
Global Composite Cylinders Market Coverage
Tank Type Insight and Forecast 2015-2025
Outer Casing Material Insight and Forecast 2015-2025
End Use Industry Insight and Forecast 2015-2025
Geographical Segmentation
Composite Cylinders Market by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)
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