Middle East & Africa Pressure Vessel Composites Material Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Material (Resin, Fiber and Others); End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport and Others); and Country
MIDDLE EAST & AFRICA PRESSURE VESSEL COMPOSITES MATERIAL MARKET RD
Middle East & Africa Pressure Vessel Composites Material Market Forecast to 2027 – Covid-19 Impact and Regional Analysis by Material (Resin, Fiber and Others); End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport and Others) and Country
Pages: 73
Market Introduction
Pressure vessel offer excellent compromise between low weigh and high mechanical properties. The composite materials that are mainly employed in the making of pressure vessels are epoxy resin and fibers. These materials are decided on the basis of their reliability and safe operation. Therefore it becomes a crucial task for determining the correct material. The pressure vessel composite materials do not dissolve and blend into each other making a perfect combination. The materials used provide high energy saving and helps in boosting efficiency and also the durability of the pressure vessels.
Market Overview and Dynamics
The Middle East & Africa pressure vessel composites material market is expected to reach US$ 269.04 Million in 2027 from US$ 65.98 Million in 2019. The market is anticipated to grow at a CAGR of 19.3 % from 2020 to 2027. Factors driving the market growth include increasing natural gas vehicles and increasing demand for pressure vessels from various end-user industries. However, storage capacity of composite pressure vessels is likely to have a negative impact on the market growth.
Effect of covid-19 on Middle East & Africa pressure vessel composites material market
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 South Africa has the highest number of confirmed cases of the COVID-19 morbidity among all Middle East & African 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.
Key Market Segments
The resin segment accounted for a larger share of the Middle East & Africa pressure vessel composites material market, by material, in 2019. The CNG vehicles segment accounted for a larger share of the Middle East & Africa pressure vessel composites material market, by end user, in 2019.
Major Sources and Companies Listed
A few of the major primary and secondary sources referred to while preparing this report on the Middle East & Africa pressure vessel composites material market include 3M Company, BASF SE, Hexion Inc., Huntsman International LLC., Olin Corporation, Solvay S.A.,. and ZOLTEK Corporation (Toray Group).
Reasons to buy the report
- To understand the Middle East & Africa pressure vessel composites material market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead by comprehending the ever-changing competitive landscape for the pressure vessel composites material market
- To efficiently plan M&A and partnership deals in the pressure vessel composites material market by identifying market segments with most promising probable sales
- To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments in the pressure vessel composites material market
- To obtain market revenue forecast for market by various segments from 2018 to 2027
Middle East & Africa Pressure Vessel Composites Material Market Segmentation
By Material
- Resin
- Fiber
- Others
By End User
- CNG Vehicles
- Hydrogen Vehicles
- Gas Transport
- Others
Company Profiles
- 3M Company
- BASF SE
- Hexion Inc.
- Huntsman International LLC.
- Olin Corporation
- Solvay S.A.,
- ZOLTEK Corporation (Toray Group)
By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Pressure Vessel Composite Materials Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Middle East & Africa
4.3 Expert Opinion
5. Pressure Vessel Composite Materials Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Natural Gas Vehicles
5.1.2 Increasing Demand for Pressure Vessels from Various End-User Industries
5.2 Restraint
5.2.1 Storage Capacity of Composite Pressure Vessels
5.3 Opportunity
5.3.1 Increasing use of Pressure Vessel Composite Materials for Space Technology
5.4 Future Trend
5.4.1 Rising Demand for Epoxy Resins
5.5 Impact Analysis Of Drivers And Restraints
6. Pressure Vessel Composite Materials – Middle East & Africa Market Analysis
6.1 Pressure Vessel Composite Materials Market Overview
6.2 Middle East & Africa Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning of Key Players
7. Middle East & Africa Pressure Vessel Composite Materials Market Analysis – By Material
7.1 Overview
7.2 Pressure Vessel Composite Materials Market, By Material (2019 and 2027)
7.3 Resin
7.3.1 Overview
7.3.2 Resin: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Fiber
7.4.1 Overview
7.4.2 Fiber: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8. Pressure Vessel Composite Materials Market Analysis – By End-User
8.1 Overview
8.2 Pressure Vessel Composite Materials Market, By End-User (2019 and 2027)
8.3 CNG Vehicles
8.3.1 Overview
8.3.2 CNG Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Hydrogen Vehicles
8.4.1 Overview
8.4.2 Hydrogen Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Gas Transport
8.6.1 Overview
8.6.2 Gas Transport: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
9. Pressure Vessel Composite Materials Market – Country Analysis
9.1 Overview
9.1.1 Middle East & Africa: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2 MEA: Pressure Vessel Composite Materials Market, by Material
9.1.3 MEA: Pressure Vessel Composite Materials Market, by End User
9.1.4 MEA: Pressure Vessel Composite Materials Market, by Key Country
9.1.4.1 South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 South Africa: Pressure Vessel Composite Materials Market, by Material
9.1.4.1.2 South Africa: Pressure Vessel Composite Materials Market, by End User
9.1.4.2 Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 Saudi Arabia: Pressure Vessel Composite Materials Market, by Material
9.1.4.2.2 Saudi Arabia: Pressure Vessel Composite Materials Market, by End User
9.1.4.3 UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 UAE: Pressure Vessel Composite Materials Market, by Material
9.1.4.3.2 UAE: Pressure Vessel Composite Materials Market, by End User
9.1.4.4 Rest of MEA: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.4.1 Rest of MEA: Pressure Vessel Composite Materials Market, by Material
9.1.4.4.2 Rest of MEA: Pressure Vessel Composite Materials Market, by End User
10. Overview- Impact of COVID-19 of Middle East & Africa Pressure Vessel Composite Materials Market
10.1 Overview
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of January 2021, South Africa, Saudi Arabia and UAE are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemical and materials is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the Middle East & Africa hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the Middle East & Africa supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the Middle East & Africa travel bans imposed by countries in Middle East & Africa are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
10.2 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Merger and Acquisition
11.3 Product News
12. Company Profiles
12.1 3M COMPANY
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.2 BASF SE
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 HEXION INC.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 HUNTSMAN INTERNATIONAL LLC.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 OLIN CORPORATION
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.6 SOLVAY S.A.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products And Services
12.6.4 Financial Overview
12.6.5 Swot Analysis
12.7 ZOLTEK CORPORATION (TORAY GROUP)
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products And Services
12.7.4 Financial Overview
12.7.5 Swot Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Middle East & Africa Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. MEA Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2027 (US$ Million)
Table 3. MEA Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 4. Glossary of Terms, Pressure Vessel Composite Materials Market
LIST OF FIGURES
Figure 1. Middle East & Africa Pressure Vessel Composite Materials Market Segmentation
Figure 2. Middle East & Africa Pressure Vessel Composite Materials Market Segmentation – By Country
Figure 3. Middle East & Africa Pressure Vessel Composite Materials Market Overview
Figure 4. CNG Vehicles Segment Held Largest Share of Middle East & Africa Pressure Vessel Composite Materials Market
Figure 5. Rest of MEA Held Largest Share of Middle East & Africa Pressure Vessel Composite Materials Market
Figure 6. Middle East & Africa Pressure Vessel Composite Materials Market, Industry Landscape
Figure 7. Middle East & Africa PEST Analysis
Figure 8. Expert Opinion
Figure 9. Pressure Vessel Composite Materials Market Impact Analysis Of Driver And Restraints
Figure 10. Middle East & Africa: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Market Positioning of Key Player In Pressure Vessel Composite Materials Market
Figure 12. Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 13. Resin: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Fiber: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Pressure Vessel Composite Materials Market Revenue Share, by End-User (2019 and 2027)
Figure 17. CNG Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Hydrogen Vehicles: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Gas Transport: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Others: Pressure Vessel Composite Materials Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Middle East & Africa: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. MEA: Pressure Vessel Composite Materials Market Revenue Share, by Material (2019 and 2027)
Figure 23. MEA: Pressure Vessel Composite Materials Market Revenue Share, by End User (2019 and 2027)
Figure 24. MEA: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2019 and 2027)
Figure 25. South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of MEA: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in Middle East & African Country Markets
- 3M Company
- BASF SE
- Hexion Inc.
- Huntsman International LLC.
- Olin Corporation
- Solvay S.A.,
- ZOLTEK Corporation (Toray Group)
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa pressure vessel composite material market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.