Epoxy Resin Market in Pressure Vessels for Alternative Fuels is Forecasted to Reach USD 49.7 Million in 2026, Says Stratview Research

The global Epoxy Resin Market in Pressure Vessels for Alternative Fuels is projected to witness a growth rate of 16.9% annually from 2021 to 2026, with an anticipated size of USD 49.7 million in 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Epoxy Resin Market in Pressure Vessels for Alternative Fuels which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/192/epoxy-resin-market-in-pressure-vessels.html

Report Highlights: `
Market Size in 2028: USD 49.7 million
Growth (CAGR): 16.9% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Epoxy Resin Market in Pressure Vessels for Alternative Fuels:
The global Epoxy Resin Market in Pressure Vessels for Alternative Fuels is segmented by vessel type, application type, vehicle type, and region

Based on the vessel type: The epoxy resin market in PVs for alternative fuels is segmented as Type II, Type III, and Type IV. Type IV is expected to remain the largest and the fastest-growing vessel type in the market during the forecast period. Type-IV tank incorporates a greater amount of carbon epoxy composites and offers maximum weight savings as compared to other pressure vessel types. It offers approximately 40% weight reduction compared to similar-sized type-III vessels.

Based on the application type: The market is segmented as CNG vehicles, hydrogen vehicles, and gas transport. CNG vehicles unassailably dominated the market in 2020 and are expected to remain the largest application type over the next five years as well. Hydrogen vehicles are likely to grow at the fastest pace in the market during the forecast period. Almost all hydrogen vehicles are likely to be fitted with composite vessels, mainly type III and IV, creating a huge demand for epoxy resin in the coming years.

Based on vehicle type: The market is segmented as light vehicles, medium- & heavy-duty commercial vehicles (M&HCVs), and others. Light vehicle is expected to remain the largest and the fastest-growing vehicle type in the market during the forecast period. Natural gas vehicles are less pollutant than gasoline or diesel-based vehicles, so there has been a growing trend towards the usage of light vehicles powered with alternative fuels, such as CNG, to curb carbon emissions. M&HCV to remain the second-dominant segment of the market during the forecast period. There is a rapid shift of OEMs towards alternative fuels, especially in North America and Europe, in the M&HCV segment.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/192/epoxy-resin-market-in-pressure-vessels.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Europe is expected to remain the largest region for the epoxy resin market in PVs for alternative fuels during the forecast period. This growth outlook is majorly attributed to the following-
• Italy is likely to remain the largest market for pressure vessels in Europe, propelled by a huge fleet of CNG vehicles. Type-I vessel is still most dominant in the region with increasing acceptance of composite pressure vessels, particularly type-III and type-IV.

Epoxy Resin Market in Pressure Vessels for Alternative Fuels Drivers:
The growth of the Epoxy Resin Market in Pressure Vessels for Alternative Fuels is driven by several factors.
• Increasing usage of composite pressure vessels: Composite pressure vessels are increasingly being adopted for alternative fuel storage due to their lightweight and high-strength properties.
• Growing demand for alternative fuel vehicles: As the adoption of alternative fuels (such as hydrogen and natural gas) rises, so does the demand for pressure vessels made using epoxy resin.
• Superior mechanical properties of epoxy resin: Epoxy resin provides excellent strength, strain absorption, and structural support by bonding with fibers, making it a preferred material in pressure vessel manufacturing.

Top 10 Companies in the Epoxy Resin Market in Pressure Vessels for Alternative Fuels:
Stratview Research has identified the following companies as the top market players:
• Huntsman Corporation
• Hexion Inc.
• The 3M Company
• Olin Corporation
• Nan Ya Plastics Corporation
• Aditya Birla Chemicals Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Epoxy Resin Market in Pressure Vessels for Alternative Fuels, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Epoxy Resin Market in Marine Compositest: https://www.stratviewresearch.com/360/Epoxy-Resin-Market-in-Marine-Composites.html
• Epoxy Resin Market in the Oil & Gas Industry: https://www.stratviewresearch.com/203/epoxy-resin-market-in-the-oil-&-gas-industry.html

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This release was published on openPR.