The epoxy resin market in pressure vessels for alternative fuels maintained good growth from 2015 to 2019 and was expected to maintain its upward growth trajectory in 2020 as well. However, the sudden outburst of the pandemic trashed the market hope owing to which, there was an enormous decline in the production of automobiles across regions which, in turn, affected the demand for epoxy resins in pressure vessels for alternative fuels. After a colossal decline of -31.6% in 2020, the market is set to rebound in 2021, followed by a healthy CAGR of 16.9% over the next five years to reach US$ 49.7 Million in 2026.
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