PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1933192
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1933192
The global composite cylinder market is projected to grow steadily, driven by the increasing adoption of lightweight, durable, and high-pressure resistant cylinders across diverse sectors. The market was valued at USD 1.38 billion in 2025, expected to reach USD 1.45 billion in 2026, and projected to grow to USD 2.31 billion by 2034, registering a CAGR of 5.72% during the forecast period. Composite cylinders, consisting of multiple layers of wound materials combined with resin over a metallic or non-metallic liner, are widely used in aerospace, defense, transportation, and industrial applications due to their safety, reliability, and weight advantages.
Market Dynamics
Drivers:
The market is driven by increasing preference for composite cylinders in transport, aerospace & defense, and healthcare industries. Type II, III, and IV cylinders are highly sought after due to their lightweight, corrosion resistance, high-pressure handling capabilities, and excellent chemical resistance. Hexagon Purus, a subsidiary of Hexagon Composites, has been awarded contracts to produce high-performance Type IV composite pressure vessels for aerospace applications, highlighting the market's reliance on innovative, safe, and high-performance products.
Technological advancements also propel market growth. For example, in April 2024, Hexagon Ragasco and Linde launched the Linktra Smart cylinder, featuring IoT connectivity, allowing users and distributors to monitor gas levels and consumption patterns, enhancing logistics and efficiency.
Restraints:
High manufacturing costs of composite cylinders compared to traditional metal cylinders remain a barrier. A 5 kg composite FTL cylinder costs approximately USD 30.17, almost double the cost of conventional metal cylinders in developing regions. This pricing challenge slows adoption, particularly in cost-sensitive emerging markets.
Opportunities:
The automotive industry offers substantial growth potential. Composite cylinders help reduce vehicle weight, improving fuel efficiency and supporting sustainability initiatives. Manufacturers are expanding product portfolios to meet rising demand for lightweight, safe, and environmentally friendly cylinder solutions.
Challenges:
Limited awareness and adoption in emerging markets, particularly in Africa and parts of Asia, constrain growth. Traditional metal cylinder manufacturers hold established market positions and benefit from economies of scale, making penetration by composite cylinder producers more difficult.
Market Trends
The growing interest in hydrogen as a clean energy source is a notable trend. Hydrogen storage requires high-pressure, durable containers to prevent leakage and embrittlement, creating increased demand for high-strength composite cylinders. Type IV cylinders are particularly favored in transportation applications such as buses, trucks, and fuel cell vehicles due to their lightweight and high volume-to-weight ratio.
Impact of COVID-19
The COVID-19 pandemic had a minimal overall impact on the composite cylinder market. Industrial activity slowed, but demand for medical gases, including oxygen therapy cylinders, surged. Companies such as Luxfer Gas Cylinders introduced Non-Limited Life (NLL) medical cylinders to support healthcare needs during the pandemic, highlighting the critical role of composite cylinders in medical applications.
By Tank Type:
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North America: Market USD 0.59 billion in 2025, led by technological adoption and aerospace applications. U.S. market expected at USD 0.54 billion in 2026.
Europe: Market USD 0.4 billion in 2026, driven by transportation and CNG adoption. U.K. USD 0.07 billion, Germany USD 0.09 billion, France USD 0.02 billion in 2025.
Asia Pacific: Market USD 0.27 billion in 2026, supported by rising CNG vehicle adoption and healthcare infrastructure. China USD 0.09 billion, India USD 0.03 billion, Japan USD 0.04 billion.
Latin America: Emerging growth due to NGVs and light-weight cylinder adoption.
Middle East & Africa: Market USD 0.09 billion in 2026, driven by consumer interest in safe, lightweight LPG composite cylinders. GCC market USD 0.04 billion in 2025.
Competitive Landscape
Key players include Hexagon Group, Time Technoplast, Aburi Composites, Evas, Luxfer Gas Cylinders, Quantum Fuel Systems, Sinoma, Worthington Cylinder, BTIC America Corp, and others. Notable developments include:
Conclusion
The Composite Cylinder Market is expected to grow from USD 1.38 billion in 2025 to USD 2.31 billion by 2034, driven by industrial, aerospace, defense, and transportation demand. Technological advancements, adoption of lightweight materials like carbon composites, IoT-enabled cylinders, and rising hydrogen and CNG applications will continue to fuel market expansion. Despite challenges such as high costs and limited awareness in emerging markets, the increasing emphasis on energy efficiency, safety, and environmental sustainability ensures a robust growth trajectory for composite cylinders globally.
Segmentation By Tank Type, By Material Type, By Gas Type, By End User, and By Region
Segmentation By Tank Type
By Material Type
By Gas Type
By End User
By Region