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Pressure Vessel Market Report by Material, Product, End Use, and Region 2024-2032

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    Report

  • 138 Pages
  • August 2024
  • Region: Global
  • IMARC Group
  • ID: 5912017
The global pressure vessel composite materials market size reached US$ 478.3 Million in 2023. Looking forward, the publisher expects the market to reach US$ 721.3 Million by 2032, exhibiting a growth rate (CAGR) of 4.67% during 2023-2032.

Pressure vessels are containers made of composite materials, such as carbon fiber and epoxy resin, which are used to store liquid propane gas (LPG), compressed natural gas (CNG), renewable natural gas (RNG), and hydrogen gas (H2). They are lightweight and cost-effective while having a long shelf life compared to their steel-based counterparts. They offer a high strength-to-weight ratio, corrosion resistance, and can be customized to meet specific design requirements. They also provide high strength and durability to withstand harsh environmental conditions. As there is a rise in the utilization of hydrogen and compressed natural gas (CNG) vehicles, the demand for pressure vessel composite materials is rising worldwide.

Pressure Vessel Composite Materials Market Trends:

The growing awareness among the masses about environment-friendly and fuel-efficient transportation solutions around the world represents one of the key factors driving the market. Besides this, there is an increase in the demand for lightweight and high-performance pressure vessels in the aerospace industry. This, along with the growing demand for boilers in various energy generation procedures, is offering a positive market outlook. Moreover, the rising utilization of pressure vessels in the oil and gas industry to conduct physical and chemical processes under high temperatures and pressure is contributing to the growth of the market.

In addition, the increasing employment of pressure vessels in the chemical industry to store and transport various chemicals is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce customized pressure vessels, which is positively influencing the market. Additionally, there is a rise in the adoption of supercritical power generation technologies across the globe. This, coupled with the burgeoning petrochemical industry, is bolstering the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global pressure vessel composite materials market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on material, application and end user.

Breakup by Material:

  • Epoxy Resin
  • Glass Fiber
  • Carbon Fiber

Breakup by Application:

  • CNG Vehicle
  • Hydrogen Vehicle
  • Gas Storage

Breakup by End User:

  • Automotive
  • Aircraft and Military
  • Aerospace
  • Marine
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Huntsman Corporation, IHI Corporation (Dai-ichi Life Insurance Company Limited), Larsen & Toubro Ltd, Nippon Steel Corporation, Olin Corporation, Pentair plc, Solvay S.A., Steelhead Composites Inc. and ZOLTEK Corporation (Toray Industries Inc.).

Key Questions Answered in This Report

1. What was the size of the global pressure vessel composite materials market in 2023?
2. What is the expected growth rate of the global pressure vessel composite materials market during 2024-2032?
3. What are the key factors driving the global pressure vessel composite materials market?
4. What has been the impact of COVID-19 on the global pressure vessel composite materials market?
5. What is the breakup of the global pressure vessel composite materials market based on the material?
6. What is the breakup of the global pressure vessel composite materials market based on the application?
7. What is the breakup of the global pressure vessel composite materials market based on end user?
8. What are the key regions in the global pressure vessel composite materials market?
9. Who are the key players/companies in the global pressure vessel composite materials market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Pressure Vessel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Material
6.1 Hastelloy
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Titanium
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Nickel and Nickel Alloys
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Tantalum
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Steel
6.5.1 Market Trends
6.5.2 Key Segments
6.5.2.1 Stainless Steel
6.5.2.2 Duplex Steel
6.5.2.3 Carbon Steel
6.5.2.4 Super Duplex Steel
6.5.2.5 Others
6.5.3 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Product
7.1 Boiler
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Nuclear Reactor
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Separator
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by End Use
8.1 Chemicals and Petrochemicals
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Oil and Gas
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Power Generation
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Abbott & Co (Newark) Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Alloy Products Corp.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Babcock & Wilcox Enterprises Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Bharat Heavy Electricals Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Doosan Heavy Industries & Construction
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 GEA Group Aktiengesellschaft
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Halvorsen Company
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 IHI Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Larsen & Toubro Limited
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Mitsubishi Power Ltd.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Pressure Vessels (India)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Samuel Son & Co.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Pressure Vessel Market: Major Drivers and Challenges
Figure 2: Global: Pressure Vessel Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Pressure Vessel Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Pressure Vessel Market: Breakup by Material (in %), 2023
Figure 5: Global: Pressure Vessel Market: Breakup by Product (in %), 2023
Figure 6: Global: Pressure Vessel Market: Breakup by End Use (in %), 2023
Figure 7: Global: Pressure Vessel Market: Breakup by Region (in %), 2023
Figure 8: Global: Pressure Vessel (Hastelloy) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Pressure Vessel (Hastelloy) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Pressure Vessel (Titanium) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Pressure Vessel (Titanium) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Pressure Vessel (Nickel and Nickel Alloys) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Pressure Vessel (Nickel and Nickel Alloys) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Pressure Vessel (Tantalum) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Pressure Vessel (Tantalum) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Pressure Vessel (Steel) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Pressure Vessel (Steel) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Pressure Vessel (Other Materials) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Pressure Vessel (Other Materials) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Pressure Vessel (Boiler) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Pressure Vessel (Boiler) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Pressure Vessel (Nuclear Reactor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Pressure Vessel (Nuclear Reactor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Pressure Vessel (Separator) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Pressure Vessel (Separator) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Pressure Vessel (Other Products) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Pressure Vessel (Other Products) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Pressure Vessel (Chemicals and Petrochemicals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Pressure Vessel (Chemicals and Petrochemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Pressure Vessel (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Pressure Vessel (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Pressure Vessel (Power Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Pressure Vessel (Power Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Pressure Vessel (Other End Uses) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Pressure Vessel (Other End Uses) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: North America: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: North America: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: United States: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: United States: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Canada: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Canada: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Asia-Pacific: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Asia-Pacific: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: China: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: China: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Japan: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Japan: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: India: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: India: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: South Korea: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: South Korea: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Australia: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Australia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Indonesia: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Indonesia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Others: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Europe: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Europe: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Germany: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Germany: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: France: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: France: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: United Kingdom: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: United Kingdom: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Italy: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Italy: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Spain: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Spain: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Russia: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Russia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Others: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Latin America: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Latin America: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Brazil: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Brazil: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Mexico: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Mexico: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Others: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Middle East and Africa: Pressure Vessel Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Middle East and Africa: Pressure Vessel Market: Breakup by Country (in %), 2023
Figure 84: Middle East and Africa: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Global: Pressure Vessel Industry: SWOT Analysis
Figure 86: Global: Pressure Vessel Industry: Value Chain Analysis
Figure 87: Global: Pressure Vessel Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Pressure Vessel Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Pressure Vessel Market Forecast: Breakup by Material (in Million US$), 2024-2032
Table 3: Global: Pressure Vessel Market Forecast: Breakup by Product (in Million US$), 2024-2032
Table 4: Global: Pressure Vessel Market Forecast: Breakup by End Use (in Million US$), 2024-2032
Table 5: Global: Pressure Vessel Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Pressure Vessel Market: Competitive Structure
Table 7: Global: Pressure Vessel Market: Key Players

Companies Mentioned

  • Abbott & Co (Newark) Ltd.
  • Alloy Products Corp.
  • Babcock & Wilcox Enterprises Inc.
  • Bharat Heavy Electricals Limited
  • Doosan Heavy Industries & Construction
  • GEA Group Aktiengesellschaft
  • Halvorsen Company
  • IHI Corporation
  • Larsen & Toubro Limited
  • Mitsubishi Power Ltd.
  • Pressure Vessels (India)
  • Samuel Son & Co.

Methodology

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Table Information