Europe Pressure Vessel Composite Materials Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Resin, Fiber, and Others) and End User (CNG Vehicles, Hydrogen Vehicle, Gas Transport, and Others)
The Europe pressure vessel composite materials market is expected to grow from US$ 304.96 million in 2022 to US$ 913.68 million by 2028; it is estimated to grow at a CAGR of 20.1% from 2022 to 2028 .
Expanding Demand for Epoxy Resins
Pressure vessel composite materials represent one of the fastest-growing markets for epoxy resin in the composites industry. The factors such as its mechanical and adhesive properties, and water resistance play a major role. Hydrogen fuel-based vehicles currently generate negligible demand for pressure vessels and hence, the epoxy resin. Nevertheless, it is plausible that there would be a healthy production of hydrogen fuel-based vehicles in the upcoming years as more than ten automakers have already released FCV demonstrators and test fleets. Type IV tank is most likely to witness high growth over the upcoming years, and so is the demand for the epoxy resins in this vessel type. Type IV tank incorporates a more significant amount of carbon epoxy composites, and it offers maximum weight saving compared to other pressure vessel types. There is increasing penetration of type IV tanks particularly in mass transit medium & heavy-duty commercial vehicles and buses. For medium and heavy-duty commercial vehicles, higher fuel density and lower mass of these vessels permit more excellent range and fuel efficiency, increase the operational interval between refueling stops, and reduce maintenance cost. Moreover, rising demand for epoxy resins are further anticipated to boost the growth of the Europe pressure vessel composite materials market over the forecast period .
Market Overview
Europe's pressure vessel composite market comprises Germany, France, Italy, the UK, Russia, and the Rest of Europe. Europe has a well-established industrial sector. Germany, Italy, and France account for a significant proportion of the industry in the European region. The use of pressure vessels in industrial uses such as hydraulic reservoirs, distillation towers, and the containment of liquefied gases favors the market demand for pressure vessel composite materials in the region. The rapidly growing economies of the countries are also aiding the industry growth, which further propels the pressure vessel composite materials market growth. Stringent energy efficiency regulations and emission standards across the European Union drive the pressure vessel composite materials market.
Europe Pressure Vessel Composite Materials Market Revenue and Forecast to 2028 (US$ Million)
Europe Pressure Vessel Composite Materials Market Segmentation
The Europe pressure vessel composite materials market is segmented based on material, end user, and country. Based on material, the Europe pressure vessel composite materials market is segmented into resin, fiber, and others. The thermoset cylinders segment held the largest market share in 2022.
Based on end user, the Europe pressure vessel composite materials market is segmented into CNG vehicles, hydrogen vehicle, gas transport, and others. The CNG vehicles segment held the largest market share in 2022.
Based on country, the Europe pressure vessel composite materials market is segmented into Germany, Italy, the UK, France, Russia, and the Rest of Europe. Germany dominated the market share in 2022.
3M Co; BASF SE; Huntsman Corporation; Kolon Industries Inc.; Mitsubishi Chemical Holdings Corp; Solvay SA; Zoltek Corp; Hexion Inc.; and Olin Corp are the leading companies operating in the Europe pressure vessel composite materials market.
Reasons to Buy
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- 1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Europe Pressure Vessel Composite Materials Market, by Material
- 1.3.2 Europe Pressure Vessel Composite Materials Market, by End User
- 1.3.3 Europe Pressure Vessel Composite Materials Market, by Country
- 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. Europe Pressure Vessel Composite Materials Market Landscape
- 4.1 Market Overview
- 4.2.1 Europe PEST Analysis
- 4.3 Expert Opinion
- 5. Pressure Vessel Composite Materials Market – Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Growing Demand for Natural Gas-Fueled Vehicles
- 5.1.2 Rising Demand for Pressure Vessels from Various End-Use Industries
- 5.2 Restraint
- 5.2.1 Storage Size of Composite Pressure Vessels
- 5.3 Opportunity
- 5.3.1 Mounting use of Pressure Vessel Composite Materials for Space Technology
- 5.4 Future Trend
- 5.4.1 Expanding Demand for Epoxy Resins
- 5.4.2 Progressing Adoption of Carbon Fiber-Reinforced Plastic (CFRP) Pressure Vessels
- 5.5 Impact Analysis of Drivers and Restraints
- 6. Pressure Vessel Composite Materials– Europe Market Analysis
- 6.1 Europe Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 7. Europe Pressure Vessel Composite Materials Market Analysis – By Material
- 7.1 Overview
- 7.2 Pressure Vessel Composite Materials Market, By Material (2021 and 2028)
- 7.3 Resin
- 7.3.1 Overview
- 7.3.2 Resin: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
- 7.4 Fiber
- 7.4.1 Overview
- 7.4.2 Fiber: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
- 7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
- 8. Europe Pressure Vessel Composite Materials Market Analysis – By End User
- 8.1 Overview
- 8.2 Pressure Vessel Composite Materials Market, By End User (2021 and 2028)
- 8.3 CNG Vehicles
- 8.3.1 Overview
- 8.3.2 CNG Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 8.4 Hydrogen Vehicles
- 8.4.1 Overview
- 8.4.2 Hydrogen Vehicles: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 8.5 Gas Transport
- 8.5.1 Overview
- 8.5.2 Gas Transport: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9. Europe Pressure Vessel Composite Materials Market– Country Analysis
- 9.1 Europe: Pressure Vessel Composite Materials Market
- 9.1.1 Europe: Pressure Vessel Composite Materials Market, by Key Country
- 9.1.1.1 Germany: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.1.1 Germany: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.1.2 Germany: Pressure Vessel Composite Materials Market, By End User
- 9.1.1.2 France: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.2.1 France: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.2.2 France: Pressure Vessel Composite Materials Market, By End User
- 9.1.1.3 UK: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.3.1 UK: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.3.2 UK: Pressure Vessel Composite Materials Market, By End User
- 9.1.1.4 Italy: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.4.1 Italy: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.4.2 Italy: Pressure Vessel Composite Materials Market, By End User
- 9.1.1.5 Russia: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.5.1 Russia: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.5.2 Russia: Pressure Vessel Composite Materials Market, By End User
- 9.1.1.6 Rest of Europe: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.6.1 Rest of Europe: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.6.2 Rest of Europe: Pressure Vessel Composite Materials Market, By End User
- 10. Industry Landscape
- 10.1 Overview
- 10.2 Market Initiative
- 10.3 New Product Development
- 10.4 Merger and Acquisition
- 11. Company Profiles
- 11.1 3M Co
- 11.1.1 Key Facts
- 11.1.2 Business Description
- 11.1.3 Products and Services
- 11.1.4 Financial Overview
- 11.1.5 SWOT Analysis
- 11.1.6 Key Developments
- 11.2 BASF SE
- 11.2.1 Key Facts
- 11.2.2 Business Description
- 11.2.3 Products and Services
- 11.2.4 Financial Overview
- 11.2.5 SWOT Analysis
- 11.2.6 Key Developments
- 11.3 Huntsman Corporation
- 11.3.1 Key Facts
- 11.3.2 Business Description
- 11.3.3 Products & Services
- 11.3.4 Financial Overview
- 11.3.5 SWOT Analysis
- 11.3.6 Key Developments
- 11.4 Kolon Industries Inc.
- 11.4.1 Key Facts
- 11.4.2 Business Description
- 11.4.3 Products and Services
- 11.4.4 Financial Overview
- 11.4.5 SWOT Analysis
- 11.4.6 Key Developments
- 11.5 Mitsubishi Chemical Holdings Corp
- 11.5.1 Key Facts
- 11.5.2 Business Description
- 11.5.3 Products & Services
- 11.5.4 Financial Overview
- 11.5.5 SWOT Analysis
- 11.5.6 Key Developments
- 11.6 Solvay SA
- 11.6.1 Key Facts
- 11.6.2 Business Description
- 11.6.3 Products and Services
- 11.6.4 Financial Overview
- 11.6.5 SWOT Analysis
- 11.6.6 Key Developments
- 11.7 ZOLTEK Corp
- 11.7.1 Key Facts
- 11.7.2 Business Description
- 11.7.3 Products and Services
- 11.7.4 Financial Overview
- 11.7.5 SWOT Analysis
- 11.7.6 Key Developments
- 11.8 Hexion Inc
- 11.8.1 Key Facts
- 11.8.2 Business Description
- 11.8.3 Products and Services
- 11.8.4 Financial Overview
- 11.8.5 SWOT Analysis
- 11.8.6 Key Developments
- 11.9 Olin Corp
- 11.9.1 Key Facts
- 11.9.2 Business Description
- 11.9.3 Products and Services
- 11.9.4 Financial Overview
- 11.9.5 SWOT Analysis
- 11.9.6 Key Developments
- 12. Appendix
- 12.1 About The Insight Partners
- 12.2 Glossary of Terms
- LIST OF TABLES
- Table 1. Europe Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- Table 2. Germany Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 3. Germany Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 4. France Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 5. France Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 6. UK Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 7. UK Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 8. Italy Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 9. Italy Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 10. Russia Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 11. Russia Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 12. Rest of Europe Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 13. Rest of Europe Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
- Table 14. Glossary of Terms, Global Pressure Vessel Composite Materials Market
- LIST OF FIGURES
- Figure 1. Europe Pressure Vessel Composite Materials Market Segmentation
- Figure 2. Europe Pressure Vessel Composite Materials Market Segmentation – By Country
- Figure 3. Europe Pressure Vessel Composite Materials Market Overview
- Figure 4. Europe Pressure Vessel Composite Materials Market, By Product Type
- Figure 5. Europe Pressure Vessel Composite Materials Market, by Country
- Figure 6. Europe PEST Analysis
- Figure 7. Europe Expert Opinion
- Figure 8. Europe Impact Analysis of Driver and Restraints on Pressure Vessel Composite Materials Market
- Figure 9. Europe Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 10. Europe Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
- Figure 11. Resin: Europe Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 12. Fiber: Europe Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 13. Others: Europe Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 14. Europe Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
- Figure 15. CNG Vehicles: Europe Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 16. Hydrogen Vehicles: Europe Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 17. Gas Transport: Europe Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 18. Others: Europe Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 19. Europe: Pressure Vessel Composite Materials Market, by Key Country – Revenue (2021) (US$ Million)
- Figure 20. Europe: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
- Figure 21. Germany: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- Figure 22. France: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- Figure 23. UK: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- Figure 24. Italy: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- Figure 25. Russia: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
- Figure 26. Rest of Europe: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
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