Epoxy Resin Market in Pressure Vessels for Alternative Fuels to experience an impressive growth of 12.2% during 2017-2022

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Epoxy Resin Market in Pressure Vessels for Alternative Fuels, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Epoxy Resin Market in Pressure Vessels for Alternative Fuels.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2017-2022.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels: Highlights
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.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Vessel Type : Type II, Type III and Type IV
• by Application Type : CNG Vehicles, Hydrogen Vehicles and Gas Transport
• by Vehicle Type : Light Vehicles, Medium & Heavy Duty Vehicles and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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Market Segments
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.
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.
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.

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.

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This release was published on openPR.