Composite Hoses Market is Forecasted to Reach US$ 390 million in 2029, Says Stratview Research

The global composite hoses market is projected to witness a growth rate of 4.7% annually from 2024 to 2029, with an anticipated size of US$ 390 million by 2029, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global composite hoses market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2029: US$ 390 million
Growth (CAGR): 4.7% during 2024-2029
Forecast Period: 2024-2029
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Composite Hoses Market:
The global composite hoses market is segmented based on media type, inner-liner type, application type, pressure type, and region.

Based on media type - The composite hoses market is segmented into oil & liquid fuel, gas, and chemical. Oil & liquid fuel is expected to remain the largest and the fastest-growing media type in the market during the forecast period. These hoses are used in onshore and offshore transfer, industrial use, dockside, and general shipboard transfer, as well as loading and unloading of road and rail tankers from storage tanks. Additionally, they are employed in loading and unloading road and rail tankers from storage tanks. Moreover, these hoses are utilized for bulk transfers of aviation fuels from storage facilities to grounded aircraft.

Based on the inner-liner type - The market is segmented into polypropylene, fluoropolymers, polyamide, and others. Polypropylene is expected to remain the dominant as well as the fastest-growing inner-liner in the market during the forecast period. PP liner-based composite hoses offer excellent flexibility, chemical resistance, corrosion resistance, broad temperature range, ease of processing and manufacturing, and good electrical conductivity. In addition to that, composite hoses for oil & liquid fuel conveyance are preferably constructed with a polypropylene liner with a carcass made of polypropylene fabrics and films sandwiched between inner and outer wires made of stainless steel or galvanized steel.

Based on the application type - The market is segmented into in-plant transfer, tank trucks & railcars transfer, marine transfer, and others. Tank trucks & railcars transfer is expected to remain the largest application in the market throughout the forecast period, mainly used for loading and unloading chemicals, oils, petroleum, and aromatic products from refineries and storage facilities to tankers in trucks or railcars. Composite hoses are preferred for mobility applications, such as tank trucks and railcars, due to their flexibility, low bending radii, and lightweight design.

Based on the pressure type - The market is segmented into below 200 PSI, 200-250 PSI, and above 250 PSI. Below 200 PSI is expected to remain the most preferred pressure rating for composite hoses in the market during the forecast period. Composite hoses with lower pressure ratings (below 200 PSI) are commonly employed in transportation and logistics, particularly for loading and unloading tank trucks and railcars. They are used for vapor return in marine, road tanker, and railcar operations, as well as for vapor recovery in bottom-loading applications.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for composite hoses during the forecast period. This growth outlook is majorly attributed to the following-
- The rapid industrialization in emerging economies like China and India, along with increased demand for LNG, and crude oil, and the rapid growth of chemical production, is driving the high growth of the composite hose market.
- To capitalize on this growing market potential, manufacturers are expanding their manufacturing capacities in the region.

Composite Hoses Market Drivers:

Some of the key drivers listed in the report are given below.
- The growth of the chemical industry.
- The increasing production of oil & gas.

Top Companies in the Composite Hoses Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• ALFAGOMMA SpA
• Bridgestone Corporation (Flextral)
• Dantec Ltd.
• Parker Hannifin Corporation
• Peraflex Hose Inc.
• Polyhose Inc.
• Smiths Group (United Flexible Inc.)
• The Novaflex Group
• Trelleborg AB

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Composite Hoses Market, 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?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.