Future Market Insights
Composite cylinder has emerged are as a superb alternative for traditional metal cylinders. Composite cylinder being made of plastic material are extremely light and easy to handle in comparison with metal cylinders. The partial or full use of plastic in the manufacturing of Composite cylinder helps cooking gas suppliers and end users to leverage the physical properties of plastic & glass fiber material. Composite cylinder has high resistance against corrosion and UV light hence qualifying it as a perfect solution for gas storage. The composite cylinder is also technologically advanced over traditional cylinders due to their explosion-proof technology. The truculent body of the Composite cylinder allows end users to keep a check on the level of gas inside the vessel while using and buying without the help of any measuring instrument.
Composite Cylinder market: Market Dynamics
For regular functioning, every business or operation relies heavily on energy obtained from fossil fuels and increased usage of composite cylinders for full filling the energy needs are driving the growth in composite cylinders market. Preference of end users for composite cylinders due to its ease of handling and partial visibility is driving the demand in composite cylinder market. Composite cylinders being explosion proof is another important factor supporting the growth is composite cylinders market. Apart from light weight and partial visibility composite cylinders are manufactured using recyclable materials which reduce its manufacturing and maintenance cost and thus benefitting the overall value chain by reducing cost operations for businesses and other entities. Composite cylinders are also available with colorful outer casing and barcode application which can help suppliers in handling and tracking cylinders more efficiently. Some additional features available with composite cylinders such integrated chips for providing information regarding the life of the composite cylinder. However, some end users may speculate the safety regarding the use of plastic for packaging of gas as the consumers are habitual for using steel cylinders which can limit the pace of growth in composite cylinder market. Introduction of gas pipe line has eliminated the need for cylinders hence hampering composite cylinder market significantly. Over the forecast period despite all the speculations the use of composite cylinders is poised to increase in many end-use industries due to the need for gas from a portable source is pushing the consumption of composite cylinders across the globe.
Composite Cylinder market: Market Segmentation
Composite cylinder market is segmented by material type, product type and by end use industry
Based on the material type, composite cylinder market is segmented into:
Based on the product type, composite cylinder market is segmented into:
Based on the end use, composite cylinder market is segmented into:
Composite Cylinder market - Regional Outlook:
Regionally global composite cylinder market is segmented into
APEJ region is expected to lead the composite cylinder market over the forecast period owing to the large base of manufacturing industry. North America is expected to follow APEJ region in composite cylinder market as the region has high per capita consumption of goods. Western Europe and Eastern Europe being the mature region are expected to grow moderately over the forecast period in composite cylinder market. MEA and Latin America are expected to exhibit sluggish growth in the composite cylinder market. Japan is expected to contribute significant value share in composite cylinder market.
Composite Cylinder market - Key Players:
Some major players of the composite cylinder market are Quantum Technologies, Worthington Cylinders, Hexagon Composites, LiteSafe Cylinder, Santek Equipments Pvt Ltd, Luxfer Gas Cylinders, Beijing Tianhai Industry Co., Aburi Composites, ALAMAN Gas Cylinders Manufacturing LLC, Time Technoplast, Faber Industries S.p.A., Shijiazhuang Yunhong Trade Co., Ltd. and Shanghai Qiaoyu Industrial Co., Ltd.
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