North America Pressure Vessel Composites Market
Pages: 106
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.
Strategic insights for the North America Pressure Vessel Composites 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.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 140.90 Million |
| Market Size by 2027 | US$ 669.05 Million |
| Global CAGR (2020 - 2027) | 21.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Pressure Vessel Composites 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.
The North America pressure vessel composites market was valued at US$ 140.90 million in 2019 and is projected to reach US$ 669.05 million by 2027; it is expected to grow at a CAGR of 21.6% during 2020–2027. Factors driving the market growth include increasing use of natural gas vehicles and increasing demand for pressure vessels from various end-user industries. However, storage capacity of composite pressure vessels to have a negative impact on the market growth.
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. It has adversely affected the chemicals and materials industry as the industry is suffering from supply chain disruptions, lockdowns, travel bans, and business shutdowns called in various countries. The US has the highest number of confirmed cases of the COVID-19 morbidity among all North American countries. This is likely to impact the chemicals and materials industry in the region due to the disruption of supply and distribution chain. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
The resin segment accounted for a largest share of the North America pressure vessel composites market, by material, in 2019. The CNG vehicle segment accounted for a largest share of the North America pressure vessel composites market, by end-user, in 2019.
A few of the major primary and secondary sources referred to while preparing this report on the North America pressure vessel composites market include 3M Company, BASF SE, Hexion Inc., Huntsman International LLC., Mitsubishi Chemical Corporation, Olin Corporation, Solvay S.A., Steelhead Composites, LLC., and ZOLTEK Corporation (Toray Group).
The North America Pressure Vessel Composites Market is valued at US$ 140.90 Million in 2019, it is projected to reach US$ 669.05 Million by 2027.
As per our report North America Pressure Vessel Composites Market, the market size is valued at US$ 140.90 Million in 2019, projecting it to reach US$ 669.05 Million by 2027. This translates to a CAGR of approximately 21.6% during the forecast period.
The North America Pressure Vessel Composites Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Pressure Vessel Composites Market report:
The North America Pressure Vessel Composites Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Pressure Vessel Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Pressure Vessel Composites Market value chain can benefit from the information contained in a comprehensive market report.
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