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    Epoxy Resin Market In Pressure Vessels For Alterna | Covid-19 Impact Analysis

    Epoxy Resin Market In Pressure Vessels For Alterna | Covid-19 Impact Analysis

    Epoxy Resin Market In Pressure Vessels For Alterna | Covid-19 Impact Analysis
    Report code - SRAM131 Published On : Apr,2017 No. of Pages: 237
    Epoxy Resin Market in Pressure Vessels for Alternative Fuels: Size, Share, Trend, Forecast See more...
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    Impact of COVID-19 on Epoxy Resin Market In Pressure Vessels For Alterna

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Epoxy Resin Market In Pressure Vessels For Alterna

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Epoxy Resin Market in Pressure Vessels for Alternative Fuels: Insights

    Pressure vessels represent one of the fastest-growing markets for epoxy resin in the composites industry. Global epoxy resin market in pressure vessels for alternative fuels is projected to grow at a double-digit CAGR of 12.2% over the next five years to reach US$ 38.3 million in 2022, driven by increasing demand for alternative fuel based vehicles owing to stringent government regulations and lower price of natural gas as compared to gasoline and shift from type I vessel to type II, III, and IV vessels to make the vehicle lightweight for greater fuel efficiency and reduced carbon emissions.

     

    Market Share Analysis

    Epoxy Resin Market Share by Vessel Type

    Based on vessel type, type IV tank is likely to witness the highest growth over the next five years and so is the demand for epoxy resins in this vessel type. Type IV tank incorporates a greater amount of carbon epoxy composites and offers maximum weight saving as compared to other pressure vessel types. There is an increasing penetration of type IV tanks particularly in mass transit buses and medium & heavy duty commercial vehicles. For medium & heavy duty commercial vehicles, higher fuel density and lower mass of these vessels permit greater range and fuel efficiency, increased the operational interval between refueling stops, and reduced maintenance cost.  

    Epoxy Resin Market Share by Application Type

    Based on application type, CNG vehicles alone accounted for more than 90% of the epoxy resin market in the pressure vessels for alternative fuels and is expected to remain the largest application type over the next five years as well. Hydrogen fuel based vehicles currently generate negligible demand for pressure vessels and hence, the epoxy resin, but it is plausible that there would be a healthy production of hydrogen fuel based vehicles in the coming years as more than ten automakers have already released FCV demonstrators and test fleets.

    Regional Insights

    Europe is projected to remain the largest market for epoxy resins in pressure vessels for alternative fuels over the next five years, driven by an increased demand for alternative fuel vehicles using composite pressure vessels. This region is also likely to remain the fastest growing market during the same period as major European automakers are launching new auto models with powertrains dependent on compressed natural gas to leverage the abundant shale gas resources. A majority of them are using lightweight tanks with the purpose of reducing vehicle's weight to achieve European carbon emission standards.

    Key Players

    The global epoxy resin market in pressure vessels is highly consolidated with the presence of a few major global players. Huntsman Corporation, Hexion Inc, Olin Corporation, Nan Ya Plastics, and The 3M Company are the major epoxy resin suppliers to the pressure vessel manufacturers worldwide. New product development and collaboration with pressure vessel manufacturers are some of the key strategies adopted by epoxy resin manufacturers to gain a competitive edge in the market.

     

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2011-2022

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Size in 2022

    US$ 38.3 million

    Forecast

    12.2% CAGR during 2017-22

    Countries/Subregions Covered

    The USA, Canada, Germany, France, UK, Italy, Norway, China, Japan, South Korea, Thailand, Brazil, Argentina and others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The Epoxy Resin Market in Pressure Vessels for Alternative Fuels is segmented in the following ways:

    Epoxy Resin Market Size, Share & Forecast by Vessel Type:

    • Type II (Regional Analysis: NA, Europe, APAC, and RoW)
    • Type III (Regional Analysis: NA, Europe, APAC, and RoW)
    • Type IV (Regional Analysis: NA, Europe, APAC, and RoW)

    Epoxy Resin Market Size, Share & Forecast by Application Type:

    • CNG Vehicles (Regional Analysis: NA, Europe, APAC, and RoW)
    • Hydrogen Vehicles (Regional Analysis: NA, Europe, APAC, and RoW)
    • Gas Transport (Regional Analysis: NA, Europe, APAC, and RoW)

    Epoxy Resin Market Size, Share & Forecast by Vehicle Type:

    • Light Vehicles (Regional Analysis: NA, Europe, APAC, and RoW)
    • Medium & Heavy-Duty Vehicles (Regional Analysis: NA, Europe, APAC, and RoW)
    • Others (Regional Analysis: NA, Europe, APAC, and RoW)

    Epoxy Resin Market Size, Share & Forecast by Region:

    • North America (Country Analysis: USA and Canada)
    • Europe (Country Analysis: Germany, France, UK, Italy, Norway, and Rest of the Europe)
    • Asia-Pacific (Country Analysis: China, Japan, South Korea, Thailand, and Rest of Asia-Pacific)
    • Rest of the world (Country Analysis: Brazil, Argentina, and Others)

     

    Report Features

    This report, from Stratview Research, studies the global epoxy resin market in pressure vessels for alternative fuels over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3)
    • SWOT analysis of key players (up to 3)

    Market Segmentation

    • Current market segmentation of any one of the application type by vessel type 

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the size of Epoxy Resin Market in Pressure Vessels for Alternative Fuels in the foreseeable years?

    Epoxy resin market size in pressure vessels for alternative fuels is expected to grow at a healthy CAGR of 12.2% over the next five years to reach US$ 38.3 million in 2022.

    Who are the key players in the Epoxy Resin Market in Pressure Vessels for Alternative Fuels?

    Huntsman Corporation, Hexion Inc, Olin Corporation, Nan Ya Plastics, and The 3M Company are among the key players in the epoxy resin market in pressure vessels for alternative fuels.

    Which country/region is expected to be the largest Epoxy Resin Market in Pressure Vessels for Alternative Fuels?

    Europe is expected to remain the largest market for epoxy resins in pressure vessels for alternative fuels during the forecast period of 2017-22.

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