Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels: 2017 - 2022 - Research and Markets
Research and Markets has announced the addition of the "Global
Epoxy Resin Market in Pressure Vessels for Alternative Fuels: 2017 -
2022" report to their offering.
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.
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.
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.
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.
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.
Key Topics Covered:
1. Executive Summary
2. Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels:
Overview and Market Forces
3. Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels -
By Vessel Type
4. Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels -
By Vehicle Type
5. Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels -
By Application Type
6. Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels -
By Region
7. Competitive Analysis
8. Strategic Growth Opportunities
9. Company Profile of Key Players
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Aditya Birla Chemicals Limited (Thai Epoxy)
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Hexion Inc.
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Huntsman Corporation
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Nan Ya Plastics Corporation
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Olin Corporation
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The 3M
For more information about this report visit http://www.researchandmarkets.com/research/plskjb/global_epoxy
View source version on businesswire.com: http://www.businesswire.com/news/home/20170428006133/en/
Copyright Business Wire 2017
Source: Business Wire
(April 28, 2017 - 7:50 PM EDT)
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