Middle East & Africa 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 Middle East & Africa pressure vessel composite materials market is expected to grow from US$ 87.88 million in 2022 to US$ 239.95 million by 2028; it is estimated to grow at a CAGR of 18.2% from 2022 to 2028 .
Snowballing Demand for Natural Gas-Fueled Vehicles
Natural gas-fueled vehicles use liquefied natural gas (LNG) or compressed natural gas (CNG) stored in a composite pressure vessel. These vehicles are equipped with a composite pressure vessel; therefore, the growth of the natural gas vehicle will drastically increase the market’s growth during the forecast period. Moreover, Natural gas-fueled vehicles are good options for centrally fueled fleets, high mileage as they can provide the same fuel range support for applications that are not interested in long haul routes where fuel stations can become scarce. As a transportation fuel, natural gas benefits include extensive distribution infrastructure, domestic supply, and reduced greenhouse gas emissions over traditional gasoline and diesel fuels. Moreover, high-pressure gas storage vessels represent one of the fastest growing and most significant markets for advanced composites, especially for filament wound carbon fiber composites. Although they are used in self-contained breathing apparatuses and also provide oxygen and gas storage on aerospace vehicles, the principal end-markets for composite-reinforced pressure vessels are bulk transportation, also called mobile pipeline of compressed natural gas (CNG) products, and fuel storage in buses, passenger cars, and trucks with powertrains dependent on compressed natural gas and hydrogen alternatives to diesel and gasoline. Therefore, increasing demand for natural gas-fueled vehicles is expected to drive the market’s growth during the forecast period.
Middle East & Africa Pressure Vessel Composite Materials Market Overview
The pressure vessel composite materials market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The region is expected to rapidly increase commercialization and industrialization, further boosting the varied industrial sectors. The MEA is an evolving market for composite materials as stringent policies regarding the environment have banned the use of plastics in various applications. The use of pressure vessel composite materials in pressure vessels due to their high strength-to-weight ratio and enormous possibilities in design have favored the market for pressure vessel composite materials in the region.
Middle East & Africa Pressure Vessel Composite Materials Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Pressure Vessel Composite Materials Market Segmentation
The Middle East & Africa pressure vessel composite materials market is segmented based on material, end user, and country. Based on material, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa pressure vessel composite materials market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.
3M Co; BASF SE; Huntsman Corporation; Kolon Industries Inc.; Mitsubishi Chemical Holdings Corp; Solvay SA; Hexion Inc.; and Olin Corp are the leading companies operating in the Middle East & Africa pressure vessel composite materials market.
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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 Middle East & Africa Pressure Vessel Composite Materials Market, by Material
- 1.3.2 Middle East & Africa Pressure Vessel Composite Materials Market, by End User
- 1.3.3 Middle East & Africa 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. Middle East & Africa Pressure Vessel Composite Materials Market Landscape
- 4.1 Market Overview
- 4.2.1 Middle East & Africa PEST Analysis
- 4.3 Expert Opinion
- 5. Pressure Vessel Composite Materials Market – Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Snowballing Demand for Natural Gas-Fueled Vehicles
- 5.1.2 Swelling Demand for Pressure Vessels from Various End-Use Industries
- 5.2 Restraint
- 5.2.1 Storing Capacity of Composite Pressure Vessels
- 5.3 Opportunity
- 5.3.1 Developing use of Pressure Vessel Composite Materials for Space Technology
- 5.4 Future Trend
- 5.4.1 Augmenting Demand for Epoxy Resins
- 5.4.2 Soaring Adoption of Carbon Fiber-Reinforced Plastic (CFRP) Pressure Vessels
- 5.5 Impact Analysis of Drivers and Restraints
- 6. Pressure Vessel Composite Materials– Middle East & Africa Market Analysis
- 6.1 Middle East & Africa Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 7. Middle East & Africa 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. Middle East & Africa 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. Middle East & Africa Pressure Vessel Composite Materials Market– Country Analysis
- 9.1 Middle East & Africa: Pressure Vessel Composite Materials Market
- 9.1.1 Middle East and Africa: Pressure Vessel Composite Materials Market, by Key Country
- 9.1.1.1 South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.1.1 South Africa: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.1.2 South Africa: Pressure Vessel Composite Materials Market, by End User
- 9.1.1.2 UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.2.1 UAE: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.2.2 UAE: Pressure Vessel Composite Materials Market, by End User
- 9.1.1.3 Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.3.1 Saudi Arabia: Pressure Vessel Composite Materials Market, By Material
- 9.1.1.3.2 Saudi Arabia: Pressure Vessel Composite Materials Market, by End User
- 9.1.1.4 Rest of Middle East and Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- 9.1.1.4.1 Rest of Middle East and Africa: Pressure Vessel Composite Materials Market, by Material
- 9.1.1.4.2 Rest of Middle East and Africa: 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 Steelhead Composites 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
- 11.9 Hexion Inc
- 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
- 11.10 Olin Corp
- 11.10.1 Key Facts
- 11.10.2 Business Description
- 11.10.3 Products and Services
- 11.10.4 Financial Overview
- 11.10.5 SWOT Analysis
- 11.10.6 Key Developments
- 12. Appendix
- 12.1 About The Insight Partners
- 12.2 Glossary of Terms
- LIST OF TABLES
- Table 1. Middle East & Africa Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- Table 2. South Africa Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 3. South Africa Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
- Table 4. UAE Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 5. UAE Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
- Table 6. Saudi Arabia Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
- Table 7. Saudi Arabia Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
- Table 8. Rest of Middle East and Africa Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2028 (US$ Million)
- Table 9. Rest of Middle East and Africa Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
- Table 10. Glossary of Terms, Global Pressure Vessel Composite Materials Market
- LIST OF FIGURES
- Figure 1. Middle East & Africa Pressure Vessel Composite Materials Market Segmentation
- Figure 2. Middle East & Africa Pressure Vessel Composite Materials Market Segmentation – By Country
- Figure 3. Middle East & Africa Pressure Vessel Composite Materials Market Overview
- Figure 4. Middle East & Africa Pressure Vessel Composite Materials Market, By Product Type
- Figure 5. Middle East & Africa Pressure Vessel Composite Materials Market, by Country
- Figure 6. Middle East & Africa PEST Analysis
- Figure 7. Middle East & Africa Expert Opinion
- Figure 8. Middle East & Africa Impact Analysis of Driver and Restraints on Pressure Vessel Composite Materials Market
- Figure 9. Middle East & Africa Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 10. Middle East & Africa Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
- Figure 11. Resin: Middle East & Africa Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 12. Fiber: Middle East & Africa Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 13. Others: Middle East & Africa Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 14. Middle East & Africa Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
- Figure 15. CNG Vehicles: Middle East & Africa Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 16. Hydrogen Vehicles: Middle East & Africa Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 17. Gas Transport: Middle East & Africa Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 18. Others: Middle East & Africa Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
- Figure 19. Middle East & Africa: Pressure Vessel Composite Materials Market, by Key Country – Revenue (2021) (US$ Million)
- Figure 20. Middle East and Africa: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
- Figure 21. South Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 22. UAE: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 23. Saudi Arabia: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 24. Rest of Middle East and Africa: Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
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