According to a report by Future Market Insights, composite cylinders have emerged as an excellent alternative to traditional metal cylinders. These cylinders, crafted from plastic material, offer exceptional lightweight and ease of handling compared to their metal counterparts. The incorporation of plastic and glass fiber materials, either partially or fully, in the manufacturing of composite cylinders enables cooking gas suppliers and end-users to capitalize on the advantageous physical properties of these materials. This shift towards composite cylinders reflects an industry trend towards more efficient, lightweight, and user-friendly solutions in the realm of gas storage and transportation.
A composite cylinder is a three-layer cylinder made up of a blow-molded HDPE inner liner, covered with composite layer of polymer-wrapped fiber glass and fitted with a HDPE outer jacket. Composite cylinders are used as an alternative to steel cylinders.
In the Asia-Pacific, East Asia (APEJ) region is anticipated to take the lead during the forecast period. APEJ’s prominence in the composite cylinder market is attributed to its extensive manufacturing industry, which drives the demand for these lightweight and durable cylinders. The region’s manufacturing base underpins the need for efficient storage and transport solutions, making composite cylinders a preferred choice.
Following APEJ, North America is expected to be a significant player in the composite cylinder market. The region’s high per capita consumption of goods, coupled with the adoption of composite cylinders for various applications, contributes to its strong position in the market.
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In contrast, Western and Eastern Europe, considered mature markets, are poised for moderate growth in the composite cylinder market over the forecast period. These regions may not exhibit as rapid expansion as some emerging markets but continue to rely on composite cylinders for various applications.
The Middle East and Africa (MEA) and Latin America regions are expected to experience slower growth in the composite cylinder market. These regions are gradually adopting these cylinders, albeit at a steadier pace.
Japan is also anticipated to make a notable contribution to the composite cylinder market, given its penchant for technological advancements and the adoption of innovative solutions.
These regional variations underline the global diversity and evolving preferences in the composite cylinder market, shaped by factors like industrialization, consumption patterns, and economic dynamics.
The transportation sector is one of the biggest users of composite cylinders, as CNG and LPG are increasingly being used as alternative fuels for vehicles. Composite cylinders are also used in other applications such as medical oxygen cylinders, firefighting equipment, and breathing apparatus.
One of the biggest challenges facing the composite cylinder market is the high cost of production. The raw materials used in the production of composite cylinders are expensive, which results in a higher cost for the finished product. However, the benefits of composite cylinders, such as their lightweight design and durability, make them a cost-effective option in the long run.
Another challenge facing the composite cylinder market is the lack of standardization in regulations across different countries. This can result in different safety standards and testing requirements, which can make it difficult for companies to sell their products in different markets.
Growth Drivers:
- Lightweight and High Strength: Composite cylinders are often preferred for their lightweight nature combined with high strength. This makes them suitable for applications where weight reduction is critical, such as aerospace and automotive industries.
- Corrosion Resistance: Composite cylinders are known for their corrosion resistance, making them attractive for applications where exposure to harsh environments or corrosive substances is a concern.
- Safety Regulations: Stringent safety regulations and standards in various industries, such as transportation and storage of hazardous materials, may drive the demand for composite cylinders that comply with these standards.
- Growing Industrialization: As industrialization continues to expand globally, there is an increasing demand for reliable and durable materials in various sectors, driving the adoption of composite cylinders.
- Energy Sector Applications: The energy sector, including oil and gas exploration, is a significant consumer of composite cylinders due to their durability and suitability for harsh conditions.
Market Restraints:
- High Initial Costs: The initial costs associated with manufacturing composite cylinders can be higher compared to traditional materials, which may act as a restraint, particularly for cost-sensitive industries.
- Limited Recycling Options: Depending on the specific composite materials used, recycling options for composite cylinders may be limited, posing environmental concerns and potentially hindering market growth.
- Limited Awareness: In some regions or industries, there may be limited awareness of the benefits of composite cylinders, leading to slower adoption rates.
- Material Limitations: While composite materials offer many advantages, there may be limitations in terms of temperature resistance, chemical compatibility, or other specific requirements in certain applications.
- Competitive Pressure: Intense competition within the composite cylinder market can lead to price wars and margin pressures for manufacturers, affecting overall industry profitability.
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.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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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
- Metal
- Steel
- Aluminum
- Carbon Fibers
- Glass Fibers
- High-density polyethylene (HDPE)
Based on the product type
- Type II
- Type III
- Type IV
Based on the end use
- Hotels & Restaurants
- Household Purpose
- Ballooning
- Gas Cutting
- Others
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