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990914

Asia Pacific Pressure Vessel Composite Materials Market Forecast to 2027 - COVID-19 Impact and Analysis - by Type Material (Resin, Fiber, and Others) and End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport, and Others)

Published: | The Insight Partners | 113 Pages | Delivery time: 1-2 business days

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Asia Pacific Pressure Vessel Composite Materials Market Forecast to 2027 - COVID-19 Impact and Analysis - by Type Material (Resin, Fiber, and Others) and End User (CNG Vehicles, Hydrogen Vehicles, Gas Transport, and Others)
Published: February 12, 2021
The Insight Partners
Content info: 113 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents
  • List of Tables

The pressure vessel composite materials market in APAC was valued at US$ 293.72 million in 2019 and is projected to reach US$ 1,433.68 million by 2027; it is expected to grow at a CAGR of 22.0 % from 2020 to 2027.

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.Based on material type, the APAC pressure vessel composite materials market is segmented into resin, fiber, and others. The resin segment led the market with the largest share in 2019. Resin or epoxy resin is widely used in the pressure vessel composite materials market to produce pressure vessels. For the class of vessels, plastic-lined composite tanks are anticipated to see the most accelerated growth in the next five years. The market for epoxy resins in this category of a vessel as plastic-lined composite tanks uses numerous carbon epoxy composites and also provides maximum weight savings than other types of pressure vessels. Plastic-lined composite tanks are frequently used in mass transit buses and medium and heavy commercial vehicles, which drives the growth of the market. Geographically, the APAC pressure vessel composite materials market is segmented into China, India, Japan, South Korea, Australia, and Rest of APAC.

In 2019, China contributed to the largest share in the market. The market growth in China is primarily attributed to the increasing automotive production; growing number of power plants; and rising number of car manufacturers such as Toyota, BMW, Ford, and Nissan across the country. The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, India has the highest number of confirmed cases and reported deaths in APAC. The COVID-19 crisis is anticipated to cause a loss of more than US$ 3 billion in the region in coming years. The consequence and impact of the pandemic can be even worse and totally depends on the spread of the virus. The government of APAC is taking possible steps to reduce its effects by announcing lockdown, which impacts the revenue generated by the market negatively. The governments have asked the chemical & materials manufacturers to delay their production, which would hinder the supply of pressure vessel composite materials in the coming years. 3M Company, BASF SE, Hexion Inc., Huntsman International LLC., Kolon Industries. Inc., Mitsubishi Chemical Corporation, Olin Corporation, Solvay S.A., and ZOLTEK Corporation (Toray Group) are among the major players operating in the APAC pressure vessel composite materials market.

The overall APAC pressure vessel composite materials market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC pressure vessel composite materials market.

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Table Of Contents

1. Introduction

  • 1.1 Study Scope
  • 1.2 The Insight Partners Research Report Guidance
  • 1.3 Market Segmentation
    • 1.3.1 APAC Pressure Vessel Composite Materials Market, by Material
    • 1.3.2 APAC Pressure Vessel Composite Materials Market, by End User
    • 1.3.3 APAC Pressure Vessel Composite Materials Market, by Geography

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 APAC PEST Analysis
    • 4.2.1 APAC
  • 4.3 Expert Opinion

5. Pressure Vessel Composite Materials Market - Key Market Dynamics

  • 5.1 Driver
    • 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 -Market Analysis

  • 6.1 Pressure Vessel Composite Materials Market Overview
  • 6.2 Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • 6.3 Market Positioning - Global Market Players

7. 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 - Geographic Analysis

  • 9.1 Overview
  • 9.2 APAC: Pressure Vessel Composite Materials Market, by Key Countries
      • 9.2.1.1 Australia: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
      • 9.2.1.2 China: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
      • 9.2.1.3 India: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
      • 9.2.1.4 Japan: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
      • 9.2.1.5 South Korea: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
      • 9.2.1.6 Rest of APAC: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)

10. Impact of COVID-19 Pandemic on Global Pressure Vessel Composite Material Market

  • 10.1 Overview
  • 10.2 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

  • 11.1 Overview
  • 11.2 Merger and Acquisition
  • 11.3 Product News

12. Key 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 KOLON INDUSTRIES. INC.
    • 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 MITSUBISHI CHEMICAL CORPORATION
    • 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 OLIN CORPORATION
    • 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
  • 12.8 SOLVAY S.A.
    • 12.8.1 Key Facts
    • 12.8.2 Business Description
    • 12.8.3 Products And Services
    • 12.8.4 Financial Overview
    • 12.8.5 Swot Analysis
  • 12.9 ZOLTEK CORPORATION (TORAY GROUP)
    • 12.9.1 Key Facts
    • 12.9.2 Business Description
    • 12.9.3 Products And Services
    • 12.9.4 Financial Overview
    • 12.9.5 Swot Analysis
    • 12.9.6 Key Developments

13. Appendix

  • 13.1 About The Insight Partners
  • 13.2 Glossary of Terms

List Of Tables

  • Table 1. Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Table 2. Australia: Pressure Vessel Composite Materials Market, by Material
  • Table 3. Australia: Pressure Vessel Composite Materials Market, by End User
  • Table 4. China: Pressure Vessel Composite Materials Market, by Material
  • Table 5. China: Pressure Vessel Composite Materials Market, by End User
  • Table 6. India: Pressure Vessel Composite Materials Market, by Material
  • Table 7. India: Pressure Vessel Composite Materials Market, by End User
  • Table 8. Japan: Pressure Vessel Composite Materials Market, by Material
  • Table 9. Japan: Pressure Vessel Composite Materials Market, by End User
  • Table 10. South Korea: Pressure Vessel Composite Materials Market, by Material
  • Table 11. South Korea: Pressure Vessel Composite Materials Market, by End User
  • Table 12. Rest of APAC: Pressure Vessel Composite Materials Market, by Material
  • Table 13. Rest of APAC: Pressure Vessel Composite Materials Market, by End User
  • Table 14. Glossary of Terms, APAC Pressure Vessel Composite Materials Market

List Of Figures

  • Figure 1. APAC Pressure Vessel Composite Materials Market Segmentation
  • Figure 2. APAC Pressure Vessel Composite Materials Market Segmentation - By Geography
  • Figure 3. APAC Pressure Vessel Composite Materials Market Overview
  • Figure 4. CNG Vehicles Segment Held Largest Share of APAC Pressure Vessel Composite Materials Market
  • Figure 5. China Held Largest Share of APAC Pressure Vessel Composite Materials Market
  • Figure 6. APAC Pressure Vessel Composite Materials Market, Industry Landscape
  • Figure 7. APAC: PEST Analysis
  • Figure 8. Expert Opinion
  • Figure 9. APAC Pressure Vessel Composite Materials Market Impact Analysis Of Driver And Restraints
  • Figure 10. Geographic Overview of Pressure Vessel Composite Materials Market
  • Figure 11. APAC: Pressure Vessel Composite Materials Market - Revenue and Forecast to 2027 (US$ Million)
  • 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. APAC Pressure Vessel Composite Materials Market Revenue Share, by Country (2019 and 2027)
  • Figure 22. Australia: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 23. China: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 24. India: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 25. Japan: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 26. South Korea: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 27. Rest of APAC: Pressure Vessel Composite Materials Market -Revenue and Forecast to 2027 (US$ Million)
  • Figure 28. Impact of COVID-19 Pandemic in Asia Pacific Country Markets