Covid-19 Impact on Epoxy Resin Market in Pressure Vessels for Alternative Fuels Market to Witness Steady Growth through 2026

The Epoxy Resin Market in Pressure Vessels for Alternative Fuels Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Epoxy Resin Market in Pressure Vessels for Alternative Fuels Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

To get a free sample report, Click here: https://www.stratviewresearch.com/Request-Sample/192/epoxy-resin-market-in-pressure-vessels.html#form

The research offers segment wise analysis of the Epoxy Resin Market in Pressure Vessels for Alternative Fuels Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.
Epoxy Resin Market in Pressure Vessels for Alternative Fuels (FDM) Market Share: Epoxy Resin Market by Vessel Type
Based on the vessel type, type IV tank is likely to witness the fastest recovery in the market over the next five years, after the least hit in 2020 by the pandemic 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 increasing penetration of type IV tanks, particularly in mass transit buses and medium & heavy-duty 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.

Epoxy Resin Market by Application Type
Based on application type, CNG vehicle alone accounted for more than 80% of the epoxy resin market in the pressure vessels for alternative fuels in 2019 and is expected to remain the largest application type over the next five years as well. Hydrogen vehicle currently generates a low demand for pressure vessels including epoxy resins, but it is plausible that there would be a spike in the production of hydrogen vehicles in the coming years as more than ten automakers have already released FCV demonstrators and test fleets. In short, CNG vehicle is projected to be the most affected segment by the pandemic coupled with an expected rise in the production of hydrogen vehicles.

Epoxy Resin Market by Vehicle Type
Based on the vehicle type, the epoxy resin market in pressure vessels for alternative fuels is segmented as light vehicles, M&HCV, and others. A light vehicle is likely to remain the most dominant user of the market in the coming years. All the vehicle type segments are expected to log a massive decline at the rate (20%+ YoY in 2020) in the wake of the pandemic.

After a severe hit by the pandemic, the light vehicle segment is expected to rebound at the fastest pace in the coming years. Natural gas vehicles are considered to be less pollutant than gasoline or diesel-based vehicles so there has been an increasing trend towards the usage of light vehicles powered with alternative fuels, such as CNG to curb carbon emissions.

Regional Insights
Despite being one of the worst-affected regions in 2020, Europe is projected to maintain its supremacy in the market over the next five years, driven by increased demand for alternative fuel vehicles incorporating composite pressure vessels. Major European automakers are launching new auto models with powertrains dependent on CNG to leverage the abundant shale gas resources. A majority of them are utilizing lightweight tanks to reduce vehicle's weight to achieve European carbon emission standards.

Key Players
The following are the key players in the Epoxy Resin Market in Pressure Vessels for Alternative Fuels Market-
• Aditya Birla Chemicals Ltd.
• Hexion Inc
• Huntsman Corporation
• Nan Ya Plastics Corporation
• Olin Corporation
• The 3M Company.

Custom Research:
Stratview research delivers custom research services across the sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.

400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
Email-sales@stratviewresearch.com

About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.

This release was published on openPR.