SAM Pressure Vessel Composites Materials Market Forecast to 2027 – Covid-19 Impact and Regional Analysis by Material (Resin, Fiber, Others); End-User (CNG Vehicles, Hydrogen Vehicles, Gas Transport, Others)
Pages: 94
Market Introduction
Pressure vessel composite materials are used in pressure vessels used to store gases and liquids under high pressure. A composite material is a combination of materials that vary in composition or shape on a macro scale. These materials do not dissolve or otherwise blend entirely into each other. Composite materials help boost efficiency and can deliver a large amount of material savings. Therefore, most of them are needed in various industries such as oil refineries, nuclear reactors, automobiles, gas repositories, and aerospace.
Market Overview and Dynamics
The pressure vessel composites materials market in SAM was valued at US$ 38.76 million in 2019 and is projected to reach US$ 162.84 million by 2027; it is expected to grow at a CAGR of 19.7% from 2020 to 2027. Factors driving the market growth include increasing use of natural gas vehicles and increasing demand for pressure vessels from various end-user industries. However, storage capacity of composite pressure vessels to have a negative impact on the market growth.
Effect of covid-19 on SAM Pressure Vessel Composites Materials Market
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, Brazil has the highest number of COVID-19 cases in South America, followed by Argentina, Peru, Chile, and Ecuador. The government of South America has taken an array of actions to protect their citizens and contain the spread of the novel coronavirus. It is anticipated that the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes—especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of South America would hamper economic activities in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
Key Market Segments
The resin segment accounted for a largest share of the SAM pressure vessel composites materials market, by material, in 2019. The CNG vehicle segment accounted for a largest share of the SAM pressure vessel composites materials 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 SAM pressure vessel composites materials market include 3M Company, BASF SE, Huntsman International LLC., Olin Corporation, Solvay S.A., and ZOLTEK Corporation (Toray Group).
Reasons to buy the report
To understand the SAM pressure vessel composites materials 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 materials market
To efficiently plan M&A and partnership deals in the pressure vessel composites materials 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 materials market
To obtain market revenue forecast for market by various segments from 2018 to 2027
SAM Pressure Vessel Composites Materials Market Segmentation
By Material
Resin
Fiber
Others
By End User
CNG Vehicles
Hydrogen Vehicles
Gas Transport
Others
Others
Company Profiles
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Mitsubishi Chemical Corporation
Olin Corporation
Solvay S.A.
Kolon Industries, Inc.
ZOLTEK Corporation (Toray Group)
By Country
Brazil
Argentina
Rest of SAM
South America Pressure Vessel Composites Materials Market Strategic Insights
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South America Pressure Vessel Composites Materials Market Segmentation Analysis
South America Pressure Vessel Composites Materials Market Report Highlights
South America Pressure Vessel Composites Materials Report Scope
Report Attribute
Details
Market size in 2019
US$ 38.76 Million
Market Size by 2027
US$ 162.84 Million
CAGR (2020 - 2027)
19.7%
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
South and Central America
Brazil
Argentina
Rest of South and Central America
Market leaders and key company profiles
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Mitsubishi Chemical Corporation
Olin Corporation
Solvay S.A.
Kolon Industries. Inc
ZOLTEK Corporation (Toray Group)
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South America Pressure Vessel Composites Materials Market Country and Regional Insights
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The List of Companies - South America Pressure Vessel Composites Materials Market
The List of Companies- APAC Pressure Vessel Materials Composites Market
3M Company
BASF SE
Hexion Inc.
Huntsman International LLC.
Mitsubishi Chemical Corporation
Olin Corporation
Solvay S.A.
Kolon Industries. Inc
ZOLTEK Corporation (Toray Group)
Frequently Asked Questions
How big is the South America Pressure Vessel Composites Materials Market?
The South America Pressure Vessel Composites Materials Market is valued at US$ 38.76 Million in 2019, it is projected to reach US$ 162.84 Million by 2027.
What is the CAGR for South America Pressure Vessel Composites Materials Market by (2020 - 2027)?
As per our report South America Pressure Vessel Composites Materials Market, the market size is valued at US$ 38.76 Million in 2019, projecting it to reach US$ 162.84 Million by 2027. This translates to a CAGR of approximately 19.7% during the forecast period.
What segments are covered in this report?
The South America Pressure Vessel Composites Materials 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 South America Pressure Vessel Composites Materials Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Pressure Vessel Composites Materials Market report:
Historic Period : 2017-2018
Base Year : 2019
Forecast Period : 2020-2027
Who are the major players in South America Pressure Vessel Composites Materials Market?
The South America Pressure Vessel Composites Materials 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.
Mitsubishi Chemical Corporation
Olin Corporation
Solvay S.A.
Kolon Industries. Inc
ZOLTEK Corporation (Toray Group)
Who should buy this report?
The South America Pressure Vessel Composites Materials 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 South America Pressure Vessel Composites Materials Market value chain can benefit from the information contained in a comprehensive market report.
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