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2021
Composites Cylinder Market

Composites Cylinder Market: by fiber type (Glass fibre Composites, Carbon Fibre Composites, Aramid Fibre Composites) by tank type (Type II, Type III, Type IV) by end use (Gas Carriers and Storage, Transportation, Life Support, Recreation, Others) Global Opportunity Analysis and Industry Forecast, 2021–2030

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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Composite LPG cylinders are composed of helically woven fibers and combined with resin. Their features mark an important transition to a new generation technology transferring interesting characteristics, including being 100% recyclables, and resistant to UV. Composite LPG cylinders have a huge variety of uses, most significantly domestic use. They are acceptable for both indoor and outdoor use, including caravans, camping, and barbecues. Moreover, they are employed across many different sectors such as boating, hot air balloons, construction, recreation, hospitality, agricultural, calefaction and fishing.

Market Scope and Structure Analysis

Report Metric

Details

  Market Size Available for Years

  2020–2030

  Base Year Considered

   2020

 Forecast Period

   2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Fiber Type, Tank type, End Use, and Region

  Regions Covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies Covered

Time Technoplast Limited, Hexagon Composites ASA, AMS Composite Cylinders, Luxfer Gas Cylinders, Drägerwerk AG & Co. KGaA., and FABER INDUSTRIE S.P.A. Hexagon Ragasco AS, the subsidiary of Hexagon Composites ASA

 

COVID-19 Impact analysis

  • COVID-19 has emerged as a global pandemic that has spread across more than 200 countries worldwide and disrupted various industries around the world. 
  • The dynamics upon which various industries used to operate are set to change drastically. As the world continues to fight this crisis, multiple industries continue to experience a constant decline. 
  • A sharp decline in demand from end-use industries such as aerospace, automotive, construction, mining, and oil & gas is likely to affect the market. 
  • The demand for composites cylinder market from these industries is reducing as the COVID-19 pandemic is reducing manufacturing output as well as consumer confidence. 
  • The overcapacity caused by lower demand from these industries is anticipated to reduce average profit margins in FY2020. 
  • Two majorities of the areas impacted by the pandemic in industries such as aerospace & defense, automotive, construction, mining, and oil & gas are the on-site deployment of personals for operations that cannot be carried out remotely and the demand for industrial equipment (including equipment that use composite cylinders) owing to the global economic slowdown. 
  • All these factors are expected to negatively impact the growth of the global composites cylinder market

Top Impacting Factors
Polymer is recurrence of monomers, to form a macromolecule. It is mainly used in the packaging of food, electronics, and medicines. Polymer decreases spilling of food and extends its shelf life by substituting as a blockade material in packaging. Being light weight, plastics retain energy in transportation of wooden materials, electronics, and other products. Plastics are also utilized in the production of automotive parts, and electronic gadgets. They are long-lasting and inexpensive. Hence, their application is high in developing and developed countries. Composite cylinders are used as a replacement to steel cylinders. Composite cylinders are light weight, UV- protected, explosion proof, and non-corrosive. Moreover, composite cylinders are mark proof and indicate the level of gas in the cylinder, as it is semi-transparent. Being lighter in weight, these cylinders can be effortlessly moved. This helps reduce the cost of transportation. 

Market Trends

  • The composites cylinder is composed of modern polymeric and composite materials, which serve improvement in quality, design, and safety. This cylinder type is considered a better alternative over the ordinary metal cylinders by enabling light weighted safe and secure handling capability. It exhibits high resistance against corrosion and UV light and widely used for the purpose of gas storage with advanced explosion-proof technology. It extensively finds its application in industrial, leisure activities, and for home-users.
  • Helically woven fibers are mixed with resin to produce composite LPG cylinders. Their properties denote an essential transition to a new generation of technology, conveying intriguing traits such as being 100% recyclable and UV resistant, to name a few. The composites business is predicted to increase as a result of increased demand from the wind energy, aerospace & defense, and automotive & transportation industries as the economy gets better. 
  • The market's growth can be assigned to its use in a variety of domestic commercial applications, including camping, caravans, transportation, hot air balloons, construction, recreation, hospitality, barbecues, agriculture, calefaction, and fishing. Even though the kitchen is the most significant application area for these composite LPG cylinders, other applications such as automobiles and institutions are also important in the market's growth.
  • The repeating of monomers to build a macromolecule is known as polymerization. It is mostly found in food electronics, and pharmaceutical packaging. The polymer acts as a blockade material in packaging, preventing food from leaking and extending its shelf life. Plastics save energy in the transportation of timber materials, electronics, and other products since they are lightweight. 
  • Plastics are also utilized to make car parts, electronic devices, and other items. They are long-lasting and cost-effective. As a result, they are widely used in both poor and rich countries. Steel cylinders can be replaced with composite cylinders. These are non-corrosive, lightweight, UV-protected, and explosion-proof. Composite cylinders are also stain-resistant and translucent, indicating the amount of gas in the cylinder. These cylinders are easier to transport due to their low weight. This helps to reduce transportation costs.
  • People's non-ending want for resources is on a rapid rise with the increase in the per capita income. In addition, the demand for food increases with the rise in the world's population. As a result, the market for composite cylinders is experiencing growth. In addition, the international composites cylinder market is being driven by growth of economy, increase in per capita income, and rise in living standards, owing to the surge in demand for LPG cylinders that are explosion-proof, non-corrosive, and lightweight. 
  • The composite cylinder is a high-pressure vessel with a composite polymer body and a plastic body. Producing a modern composite cylinder is an immensely difficult and includes high-tech procedure, therefore its price is prominently high than that of a metal version. Rise in usage of LPG in developing nations is likely to intensify the demand for composite LPG cylinders during the forecast period.

Key Segments Covered
Fiber Type

  • Glass fibre Composites
  • Carbon Fibre Composites
  • Aramid Fibre Composites

Tank Type

  • Type II
  • Type III
  • Type IV

End-Use

  • Gas Carriers and Storage
  • Transportation
  • Life Support
  • Recreation 
  • Others

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Malaysia
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of LAMEA

Key Benefits of the Report
This study presents the analytical depiction of the Composites Cylinder industry along with the current trends and future estimations to determine the imminent investment pockets.

  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Composites Cylinder market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the Composites Cylinder market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Composites Cylinder market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the Composites Cylinder Report

  • Who are the leading market players active in the Composites Cylinder market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is " Composites Cylinder "?
  • what does " Composites Cylinder " allow organizations to achieve?
  • which technologies combine to make " Composites Cylinder " a critical organizational asset?
  • What is " Composites Cylinder " Market prediction in the future?
  • Who are the leading global players in the " Composites Cylinder " Market?
  • What are the current trends and predicted trends?
  • What are the challenges faced in the " Composites Cylinder " Market?
  • What are the key benefits of the " Composites Cylinder " Market report?
  • What will be the anticipated growth rates for your own Composites Cylinder Market economy altogether and also for every segment inside?
  • Which will be the niches at which players profiling with recent advancements should set a presence?
  • What are the driving factors and opportunities in the market?
 
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