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The global pressure vessel composite materials market has the potential to grow by USD 4.82 billion during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 23%.
The growing demand for pressure vessels from various end-users and the increasing use of carbon fiber to manufacture pressure vessels are some of the major factors are driving market growth. The US, China, and India are currently the significant markets for pressure vessel composite materials.
The report provides a detailed analysis of the market by type and geography. Also, the pressure vessel composite materials market forecast report analyzes the market’s competitive landscape and offers information on several market vendors.
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The pressure vessel composite materials market is fragmented, and the degree of fragmentation will remain the same during the forecast period. 3M Co., Air Products and Chemicals Inc., and Doosan Infracore Co. Ltd. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the high costs of carbon fiber will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The pressure vessel composite materials market analysis report provides information on the production, sustainability, and prospects of several companies, including:
Pressure vessels are used in a wide range of applications, including natural gas storage systems, distillation towers, power plants, and hot water storage tanks. In the chemical industry these vessels are used to store industrial liquids and other materials required for the production of various chemicals. They are also used to final products for shipping. In boilers, pressure vessels are used in power-plants to generate high-pressure steam to produce electricity. With the expected increase in the demand for these industrial boilers, the need for pressure vessels will also grow. This will subsequently fuel pressure vessel composite material market growth over the forecast period.
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APAC is one of the significant markets for pressure vessel composite materials. The rising automobile production is a major factor driving market growth in this region. Moreover, the increasing number of power plants in countries such as China and India are also driving market growth in the region.
During the forecast period, over 42% of the overall market growth will originate from APAC. Market growth in this region will be faster than the growth of the market in the other regions.
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Epoxy resins are available in both liquid and solid forms and are used in pressure vessels because of their mechanical and adhesive properties and resistance to water. These resins are used in the inner pressure vessel as an inner coating liner for water treatment systems.
Over the forecast period, the pressure vessel composite materials market size will increase in the epoxy resins segment. This report provides an accurate prediction of the contribution of various segment to pressure vessel composite materials market growth.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY TYPE
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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