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
Middle East & Africa Pressure Vessel Composites Material Market Strategic Insights
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Middle East & Africa Pressure Vessel Composites Material Market Segmentation Analysis
Middle East & Africa Pressure Vessel Composites Material Market Report Highlights
Middle East & Africa Pressure Vessel Composites Material Report Scope
Report Attribute
Details
Market size in 2019
US$ 65.98 Million
Market Size by 2027
US$ 269.04 Million
CAGR (2020 - 2027)
19.3 %
Historical Data
2017-2018
Forecast period
2020-2027
Segments Covered
By Material
Resin
Fiber
By End User
CNG Vehicles
Hydrogen Vehicles
Gas Transport
Regions and Countries Covered
Middle East and Africa
South Africa, Saudi Arabia, UAE, Rest of Middle East and Africa
Market leaders and key company profiles
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Olin Corporation
Solvay S.A.,
ZOLTEK Corporation (Toray Group)
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Middle East & Africa Pressure Vessel Composites Material Market Country and Regional Insights
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The List of Companies - Middle East & Africa Pressure Vessel Composites Material MarketThe List of Companies- MEA Pressure Vessel Composites Material Market
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Olin Corporation
Solvay S.A.,
ZOLTEK Corporation (Toray Group)
Frequently Asked Questions
How big is the Middle East & Africa Pressure Vessel Composites Material Market?
The Middle East & Africa Pressure Vessel Composites Material Market is valued at US$ 65.98 Million in 2019, it is projected to reach US$ 269.04 Million by 2027.
What is the CAGR for Middle East & Africa Pressure Vessel Composites Material Market by (2020 - 2027)?
As per our report Middle East & Africa Pressure Vessel Composites Material Market, the market size is valued at US$ 65.98 Million in 2019, projecting it to reach US$ 269.04 Million by 2027. This translates to a CAGR of approximately 19.3 % during the forecast period.
What segments are covered in this report?
The Middle East & Africa Pressure Vessel Composites Material Market report typically cover these key segments-
Material (Resin, Fiber)
End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport)
What is the historic period, base year, and forecast period taken for Middle East & Africa Pressure Vessel Composites Material Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Pressure Vessel Composites Material Market report:
Historic Period : 2017-2018
Base Year : 2019
Forecast Period : 2020-2027
Who are the major players in Middle East & Africa Pressure Vessel Composites Material Market?
The Middle East & Africa Pressure Vessel Composites Material Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Olin Corporation
Solvay S.A.,
ZOLTEK Corporation (Toray Group)
Who should buy this report?
The Middle East & Africa Pressure Vessel Composites Material Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Middle East & Africa Pressure Vessel Composites Material Market value chain can benefit from the information contained in a comprehensive market report.
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