Hydrogen Tank Material Market by Material Type, Tank Type (Type 1, Type 2, Type 3), End-User

List of Tables

[182 Pages Report] The Hydrogen Tank Material Market size was estimated at USD 1.04 billion in 2023 and expected to reach USD 1.25 billion in 2024, at a CAGR 20.84% to reach USD 3.94 billion by 2030.

Global Hydrogen Tank Material Market

KEY MARKET STATISTICS
Base Year [2023]	USD 1.04 billion
Estimated Year [2024]	USD 1.25 billion
Forecast Year [2030]	USD 3.94 billion
CAGR (%)	20.84%

The hydrogen tank material market deals with producing, selling, and applying advanced materials specifically designed for hydrogen gas storage and transportation. These materials are vital in industries that utilize hydrogen as a fuel or energy source, such as automotive, aerospace, industrial processes, and renewable energy systems. The market covers various storage systems, such as high-pressure, low-pressure, and cryogenic vessels. Increasing demand for hydrogen tank material in the medical and pharmaceutical sectors and rising emphasis on renewable energy sources to combat climate change drive market growth. However, limitations and challenges include high production costs of advanced storage materials, and concerns regarding stringent safety standards and regulations. Opportunities for the hydrogen tank material market lie in the growing interest in green hydrogen production techniques utilizing renewable energy sources and emerging economies with rapidly expanding industrial sectors. Businesses focus on innovation and research, targeting cost-effective production methods for advanced tank materials and collaborating with governments to promote policy initiatives supporting global refueling infrastructure expansion.

Regional Insights

In the Americas, hydrogen storage technologies have gained significant attention in recent years driven by large-scale investments in clean energy projects. North America is the major market for hydrogen tank materials within this region due to its advanced research facilities, established automobile industry, stringent emission regulations, and increasing adoption of fuel cell vehicles (FCVs). The United States has numerous initiatives supporting hydrogen technology development, such as the H2@Scale initiative, which aims at wide-scale deployment of hydrogen across various sectors including transportation and industry. In the EMEA, Europe leads the demand for hydrogen tank materials due to its commitment to decarbonizing transport and energy sectors per the European Green Deal strategy. Countries such as Germany, France, and Italy invest heavily in FCVs and associated infrastructure, creating a favorable environment for the growth of hydrogen storage technologies. The Middle East is expected to witness a surge in demand for these materials, with countries such as Saudi Arabia exploring opportunities in green hydrogen production. APAC is expected to be the fastest-growing region for hydrogen tank materials primarily due to the rapid industrialization in countries including China, Japan, South Korea and India. These countries have set ambitious targets for hydrogen adoption and have implemented supportive policies such as subsidies, tax incentives, and funding for research & development.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hydrogen Tank Material Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hydrogen Tank Material Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Hydrogen Tank Material Market, highlighting leading vendors and their innovative profiles. These include Arkema, AVANCO Composites GmbH, Cevotec, Compagnie Plastic Omnium SE, Envalior by Koninklijke DSM N.V., Everest Kanto Cylinders Ltd., Faber Industrie SPA, H2MOF, Hexagon Ragasco AS, Hexcel Corporation, Hyosung Advanced Materials, Luxfer Group, Mitsubishi Chemical Corporation, NPROXX B.V., Pragma Industries, Praxair Technologies, Inc., Quantum Fuel Systems LLC, Solvay S. A., Tenaris, Toray Industries, Inc., Toyota Motor Corporation, Umoe Advanced Composites AS, and Worthington Industries Inc..

Market Segmentation & Coverage

This research report categorizes the Hydrogen Tank Material Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material Type
- Carbon Fiber
- Glass Fiber
- Metal
Tank Type
- Type 1
- Type 2
- Type 3
- Type 4
End-User
- Automotive
- Chemical
- Pharmaceutical
- Transportation & Logistics
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Hydrogen Tank Material Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hydrogen Tank Material Market?

3. What are the technology trends and regulatory frameworks in the Hydrogen Tank Material Market?

4. What is the market share of the leading vendors in the Hydrogen Tank Material Market?

5. Which modes and strategic moves are suitable for entering the Hydrogen Tank Material Market?

Product Code: MRR-CF6C60CF95B9

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Hydrogen Tank Material Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising environmental awareness for increased demand of hydrogen tank material
  - 5.1.1.2. Increasing demand for hydrogen tank material in the medical and pharmaceutical sector
  - 5.1.1.3. Rising emphasis on renewable energy systems across the world
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with hydrogen tank material and regulatory approval
- 5.1.3. Opportunities
  - 5.1.3.1. Growing research and development activities for specialized hydrogen storage systems
  - 5.1.3.2. Emergence of lightweight composite based tank material and adoption of hydrogen fuel based vehicles
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding stringent safety standards and regulations
5.2. Market Segmentation Analysis
- 5.2.1. Material Type: Growing popularity of carbon fiber in hydrogen tanks with demand for lightweight components in aerospace sector
- 5.2.2. Tank Type: Increasing inclination of end-users towards type 4 hydrogen tanks
- 5.2.3. End-User: Higher potential and demand for hydrogen tanks from automotive sector due to net zero emission initiatives
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Hydrogen Tank Material Market, by Material Type

6.1. Introduction
6.2. Carbon Fiber
6.3. Glass Fiber
6.4. Metal

7. Hydrogen Tank Material Market, by Tank Type

7.1. Introduction
7.2. Type 1
7.3. Type 2
7.4. Type 3
7.5. Type 4

8. Hydrogen Tank Material Market, by End-User

8.1. Introduction
8.2. Automotive
8.3. Chemical
8.4. Pharmaceutical
8.5. Transportation & Logistics

9. Americas Hydrogen Tank Material Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Hydrogen Tank Material Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Hydrogen Tank Material Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. New Product Launch & Enhancement
  - 12.3.1.1. This Startup Hopes Its Nanomaterial Fuel Tanks Will Jumpstart The Hydrogen Revolution
  - 12.3.1.2. UCF is Developing Materials to Stop Hydrogen Leaks Like Ones Delaying Artemis Launch
  - 12.3.1.3. Toyota Develops Storage Module Utilizing Resin High-Pressure Hydrogen Tanks
- 12.3.2. Investment & Funding
  - 12.3.2.1. NRP Zero Invests in UAC to Expand Hydrogen Pressure Vessel Production

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. Arkema
- 13.1.2. AVANCO Composites GmbH
- 13.1.3. Cevotec
- 13.1.4. Compagnie Plastic Omnium SE
- 13.1.5. Envalior by Koninklijke DSM N.V.
- 13.1.6. Everest Kanto Cylinders Ltd.
- 13.1.7. Faber Industrie SPA
- 13.1.8. H2MOF
- 13.1.9. Hexagon Ragasco AS
- 13.1.10. Hexcel Corporation
- 13.1.11. Hyosung Advanced Materials
- 13.1.12. Luxfer Group
- 13.1.13. Mitsubishi Chemical Corporation
- 13.1.14. NPROXX B.V.
- 13.1.15. Pragma Industries
- 13.1.16. Praxair Technologies, Inc.
- 13.1.17. Quantum Fuel Systems LLC
- 13.1.18. Solvay S. A.
- 13.1.19. Tenaris
- 13.1.20. Toray Industries, Inc.
- 13.1.21. Toyota Motor Corporation
- 13.1.22. Umoe Advanced Composites AS
- 13.1.23. Worthington Industries Inc.
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing