World Epoxy Resin Market in Pressure Vessels for Alternative Fuels to Cross USD 38 Mln, Says Stratview Research in New Report Available at MarketPubli11 May 2017 • by Natalie Aster
LONDON – Today, pressure vessels make up one of the most rapidly-evolving markets for epoxy resin in the overall composites industry. Through 2022, the world’s market for epoxy resin in pressure vessels for alternative fuels will likely demonstrate double-digit growth, posting a CAGR of slightly over 12%, and the market value is predicted to cross the USD 38 million mark by the end of the forecast period. Robust growth in this market is attributed to such favourable factors as mushrooming demand for alternative fuel based vehicles, strict government guidelines and norms, lower natural gas prices coupled with continued shift from type I vessel to type II, III, and IV (in order to make the vehicle lightweight and also increase fuel efficiency and reduce carbon emissions).
As for vessels types, type IV vessel is anticipated to register growth at the highest pace in the years ahead. Moreover, the demand for epoxy resins in type IV vessels is also predicted to see the highest growth rate.
Application-wise, compressed natural gas (CNG) vehicles capture the major share (90%) of the total market. This application is projected to keep on dominating the market in the offing.
Globally, Europe is likely to possess the lion’s share in the world’s epoxy resin market in pressure vessels for alternative fuels through 2022.
New Stratview Research report “Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels by Vessel Type, by Application Type, by Vehicle Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017 – 2022” provides a whole picture of the market performance historical, present and forecast. This comprehensive study offers in-depth insights into the market dynamics, covering the most vital factors driving and limiting the market growth. This cutting-edge report is a great source of relevant data on the market structure, market life cycle and supply chain. Additionally, the report comprises a granular market environment analysis, offers Porter’s five forces and SWOT analyses, reviews the ongoing and future market trends, highlights the competitive landscape, identifies top players and reviews the recent industry developments and product launches. The most attractive segments and lucrative growth opportunities are identified in the report, too. Future forecasts for the marketplace till 2022 are at hand in the report.
Many more research studies by our research partner are available at the Stratview Research online page.