Composite Cylinder Market to Register Significant Growth Globally During 2017 – 2027
Composite Cylinder market: Market Dynamics
For regular functioning, every business or operation relies heavily on energy obtained from fossil fuels and increased usage of composite cylinders for full filling the energy needs are driving the growth in composite cylinders market. Preference of end users for composite cylinders due to its ease of handling and partial visibility is driving the demand in composite cylinder market. Composite cylinders being explosion proof is another important factor supporting the growth is composite cylinders market.
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Apart from light weight and partial visibility composite cylinders are manufactured using recyclable materials which reduce its manufacturing and maintenance cost and thus benefitting the overall value chain by reducing cost operations for businesses and other entities. Composite cylinders are also available with colorful outer casing and barcode application which can help suppliers in handling and tracking cylinders more efficiently. Some additional features available with composite cylinders such integrated chips for providing information regarding the life of the composite cylinder.
However, some end users may speculate the safety regarding the use of plastic for packaging of gas as the consumers are habitual for using steel cylinders which can limit the pace of growth in composite cylinder market. Introduction of gas pipe line has eliminated the need for cylinders hence hampering composite cylinder market significantly. Over the forecast period despite all the speculations the use of composite cylinders is poised to increase in many end-use industries due to the need for gas from a portable source is pushing the consumption of composite cylinders across the globe.
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.
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