North America 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)

North America 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 North America pressure vessel composite materials market is expected to grow from US$ 198.70 million in 2022 to US$ 610.62 million by 2028; it is estimated to grow at a CAGR of 20.6% from 2022 to 2028 .

Increasing Demand for Pressure Vessels from Various End-Use Industries is Fueling the North America Pressure Vessel Composite Materials Market

The chemicals industry is growing across the region due to the increasing consumption of goods such as fertilizers and other agrochemical products, coatings & adsorbents, LED lightings, plastics, and human-made fibers, and research laboratory chemicals. Also, the petrochemical industry is encountering heightened demand from various construction projects around the North America. Pressure vessels are designed to work by entering the pressure required to make an application function, like holding air in a scuba tank. It can deliver pressure either directly by valves and release gauges or indirectly via heat transfer. Potential pressure levels range from 15 psi to 150,000 psi, whereas temperatures are usually above 400°C (750°F). A pressure tank can hold anywhere from 75 liters (20 gallons) to many thousand liters. Pressure vessels are used in different industries, but three industries cover most of the market. These industries are the chemical industry, oil and gas industry, and the energy industry. The growth in the number of industrial power projects and the replacement of existing pressure vessels are one of the significant factors propelling market growth. The factors boosting the market include increasing upstream & downstream activities in the oil & gas industry, expanding power generation capacities, increasing chemical projects, and surging demand for electricity. The North America surge in demand from oil and gas, energy, and chemical industries is a major fueling factor. Also, based on the variability of dynamics in the power and energy industry, the design process varies amongst various industries, and therefore the nature and scope of demand differ. It results in a high turnaround time for production vessels, thereby boosting market growth. Moreover, the government norms and regulations for energy consumption enable high demand for pressure vessels in energy industries. Hence, the increasing demand for pressure vessel composite materials from various end-use industries is anticipated to augment the North America pressure vessel composite materials market growth in the forecast period.

North America Pressure Vessel Composite Materials Market Overview

The North America pressure vessel composite market is segmented into the US, Canada, and Mexico. The regional companies are continuously enhancing the overall business processes to meet the customer demand in the best possible way. Various domestic and international companies such as Mitsubishi Chemical Corporation, Hexion Inc. and Olin Corporation have a strong foothold in the North American region, which boost the demand for pressure vessel composite materials. The US is a major pressure vessel composite materials market, followed by Canada and Mexico. Rapid industrialization and flexible trade policies are driving the growth of the North America pressure vessel composite materials market.

North America Pressure Vessel Composite Materials Market Revenue and Forecast to 2028 (US$ Million)

North America pressure vessel composite materials market Segmentation

The North America pressure vessel composite materials market is segmented based on material, end user, and country. Based on material, the North America 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 North America 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 North America pressure vessel composite materials market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.

3M Co; BASF SE; Huntsman Corporation; Kolon Industries Inc.; Mitsubishi Chemical Holdings Corp; Solvay SA; Zoltek Corp; Steelhead Composites Inc.; Hexion Inc.; and Olin Corp are the leading companies operating in the North America 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 North America Pressure Vessel Composite Materials Market, by Material
1.3.2 North America Pressure Vessel Composite Materials Market, by End User
1.3.3 North America 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. North America Pressure Vessel Composite Materials Market Landscape
4.1 Market Overview
4.2.1 North America PEST Analysis
4.3 Expert Opinion
5. Pressure Vessel Composite Materials Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Natural Gas-Fueled Vehicles
5.1.2 Increasing Demand for Pressure Vessels from Various End-Use 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
5.4.2 Surging Adoption of Carbon Fiber-Reinforced Plastic (CFRP) Pressure Vessels
5.5 Impact Analysis of Drivers and Restraints
6. Pressure Vessel Composite Materials– North America Market Analysis
6.1 North America Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
7. North America 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. North America 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. North America Pressure Vessel Composite Materials Market– Country Analysis
9.1 North America: Pressure Vessel Composite Materials Market
9.1.1 North America: Pressure Vessel Composite Materials Market, by Key Country
9.1.1.1 US: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Pressure Vessel Composite Materials Market, By Material
9.1.1.1.2 US: Pressure Vessel Composite Materials Market, By End User
9.1.1.2 Canada: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Pressure Vessel Composite Materials Market, By Material
9.1.1.2.2 Canada: Pressure Vessel Composite Materials Market, By End User
9.1.1.3 Mexico: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Pressure Vessel Composite Materials Market, By Material
9.1.1.3.2 Mexico: 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
11.8.6 Key Developments
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. North America Pressure Vessel Composite Materials Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Pressure Vessel Composite Materials Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Pressure Vessel Composite Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Pressure Vessel Composite Materials Market, By Material – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Pressure Vessel Composite Materials Market, By End User – Revenue and Forecast to 2028 (US$ Million)
Table 8. Glossary of Terms, Global Pressure Vessel Composite Materials Market
LIST OF FIGURES
Figure 1. North America Pressure Vessel Composite Materials Market Segmentation
Figure 2. North America Pressure Vessel Composite Materials Market Segmentation – By Country
Figure 3. North America Pressure Vessel Composite Materials Market Overview
Figure 4. North America Pressure Vessel Composite Materials Market, By Product Type
Figure 5. North America Pressure Vessel Composite Materials Market, by Country
Figure 6. North America PEST Analysis
Figure 7. North America Expert Opinion
Figure 8. North America Impact Analysis of Driver and Restraints on Pressure Vessel Composite Materials Market
Figure 9. North America Pressure Vessel Composite Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. North America Pressure Vessel Composite Materials Market Revenue Share, By Material (2021 and 2028)
Figure 11. Resin: North America Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 12. Fiber: North America Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13. Others: North America Pressure Vessel Composite Materials Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. North America Pressure Vessel Composite Materials Market Revenue Share, By End User (2021 and 2028)
Figure 15. CNG Vehicles: North America Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 16. Hydrogen Vehicles: North America Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 17. Gas Transport: North America Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 18. Others: North America Pressure Vessel Composite Materials Market– Revenue and Forecast To 2028 (US$ Million)
Figure 19. North America: Pressure Vessel Composite Materials Market, by Key Country – Revenue (2021) (US$ Million)
Figure 20. North America: Pressure Vessel Composite Materials Market Revenue Share, by Key Country (2021 and 2028)
Figure 21. US: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. Canada: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)
Figure 23. Mexico: Pressure Vessel Composite Materials Market– Revenue and Forecast to 2028 (US$ Million)

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