South America Pressure Vessel Composites Materials Market
Pages: 94
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 South America Pressure Vessel Composites 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.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 38.76 Million |
| Market Size by 2027 | US$ 162.84 Million |
| Global CAGR (2020 - 2027) | 19.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Pressure Vessel Composites 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.
The pressure vessel composites materials market in SAM was valued at US$ 38.76 million in 2019 and is projected to reach US$ 162.84 million by 2027; it is expected to grow at a CAGR of 19.7% from 2020 to 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 COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, Brazil has the highest number of COVID-19 cases in South America, followed by Argentina, Peru, Chile, and Ecuador. The government of South America has taken an array of actions to protect their citizens and contain the spread of the novel coronavirus. It is anticipated that the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes—especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of South America would hamper economic activities in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
The resin segment accounted for a largest share of the SAM pressure vessel composites materials market, by material, in 2019. The CNG vehicle segment accounted for a largest share of the SAM pressure vessel composites materials market, by end-user, in 2019.
A few of the major primary and secondary sources referred to while preparing this report on the SAM pressure vessel composites materials market include 3M Company, BASF SE, Huntsman International LLC., Olin Corporation, Solvay S.A., and ZOLTEK Corporation (Toray Group).
The South America Pressure Vessel Composites Materials Market is valued at US$ 38.76 Million in 2019, it is projected to reach US$ 162.84 Million by 2027.
As per our report South America Pressure Vessel Composites Materials Market, the market size is valued at US$ 38.76 Million in 2019, projecting it to reach US$ 162.84 Million by 2027. This translates to a CAGR of approximately 19.7% during the forecast period.
The South America Pressure Vessel Composites Materials 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 South America Pressure Vessel Composites Materials Market report:
The South America Pressure Vessel Composites Materials Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Pressure Vessel Composites Materials Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Pressure Vessel Composites Materials Market value chain can benefit from the information contained in a comprehensive market report.
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