Middle East & Africa Pressure Vessel Composite Materials Market

The Middle East & Africa pressure vessel composite materials market is expected to grow from US$ 87.88 million in 2022 to US$ 239.95 million by 2028; it is estimated to grow at a CAGR of 18.2% from 2022 to 2028.

Snowballing Demand for Natural Gas-Fueled Vehicles

Natural gas-fueled vehicles use liquefied natural gas (LNG) or compressed natural gas (CNG) stored in a composite pressure vessel. These vehicles are equipped with a composite pressure vessel; therefore, the growth of the natural gas vehicle will drastically increase the market’s growth during the forecast period. Moreover, Natural gas-fueled vehicles are good options for centrally fueled fleets, 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 benefits include extensive distribution infrastructure, domestic supply, and reduced greenhouse gas emissions over traditional gasoline and diesel fuels. 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 provide 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 demand for natural gas-fueled vehicles is expected to drive the market’s growth during the forecast period.

Middle East & Africa Pressure Vessel Composite Materials Market Overview

The pressure vessel composite materials market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The region is expected to rapidly increase commercialization and industrialization, further boosting the varied industrial sectors. The MEA is an evolving market for composite materials as stringent policies regarding the environment have banned the use of plastics in various applications. The use of pressure vessel composite materials in pressure vessels due to their high strength-to-weight ratio and enormous possibilities in design have favored the market for pressure vessel composite materials in the region.

 Middle East & Africa Pressure Vessel Composite Materials Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Pressure Vessel Composite Materials Strategic Insights

Strategic insights for the Middle East & Africa Pressure Vessel Composite Materials provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Pressure Vessel Composite Materials Report Scope

Middle East & Africa Pressure Vessel Composite Materials Regional Insights

The geographic scope of the Middle East & Africa Pressure Vessel Composite Materials refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Middle East & Africa Pressure Vessel Composite Materials Market Segmentation

The Middle East & Africa pressure vessel composite materials market is segmented based on material, end user, and country. Based on material, the Middle East & Africa pressure vessel composite materials market is segmented into resin, fiber, and others. The thermoset cylinders segment held the largest market share in 2022.

Based on end user, the Middle East & Africa pressure vessel composite materials market is segmented into CNG vehicles, hydrogen vehicle, gas transport, and others. The CNG vehicles segment held the largest market share in 2022.

Based on country, the Middle East & Africa pressure vessel composite materials market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.

3M Co; Basf SE; Huntsman Corporation; Kolon Industries Inc.; Mitsubishi Chemical Holdings Corp; Solvay SA; Hexion Inc.; and Olin Corp are the leading companies operating in the Middle East & Africa pressure vessel composite materials market.