• ASSO
• 2022-05-08
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Pressure Vessels Market

ASSO International Consulting: Hydrogen energy industry and new energy vehicles drive rapid growth in demand for pressure vessels
 
Carbon Fiber Reinforced Polymer Composites (CFRP) are lightweight, strong materials used in the manufacturing of numerous products used in our daily life. In general, CFRP composites use thermosetting resins such as epoxy, polyester, or vinyl ester. Pressure vessel composite materials are used in manufacturing pressure vessels that are used to store gases and liquids under high pressure. The strength of the vessel is the critical parameter to prevent explosions as a result of the rupture. A composite material is a combination of materials differing in composition or form on a macro scale. These materials do not dissolve or otherwise merge completely into each other. Composite materials help to improve the performance and also offers a significant amount of material savings.
 

Source: Doosan
 
In recent years, the demand for carbon fiber pressure vessels in the global market is increasing with the growth of global sales of fuel cell electric vehicles and investment in hydrogen energy infrastructure. 2021 was a good year for fuel cell electric vehicles (FCEV) in passenger car markets. Toyota, with their second generation Mirai FCEV, and Hyundai, with their NEXO FCEV, both had record sales. Actually, not just fuel cell electric vehicles It needs to use carbon fiber pressure vessels, and its supporting hydrogen refueling stations also need carbon fiber pressure vessels to store hydrogen.
 
The Glass Fiber Composites segment is considered the most important product type because the downstream demand for Glass Fiber Composites segment products is rigid, and this demand will not decrease due to the growth of other types. Fiberglass composite products are an alternative to traditional seamless steel gas cylinders, and these substitutions are widely occurring in the LPG industry. However, due to the slow replacement of seamless steel gas cylinders, the growth rate of glass fiber composite products has been slow. The Carbon Fiber Composites segment is considered to be the fastest growing type because the Carbon Fiber Composites segment reflects more details of the product and better application experience. Analysts at ASSO International Consulting estimate that the global market for carbon fiber pressure vessels will exceed $2.5 billion by 2030.
 
Carbon Fiber Pressure Vessel Market Size Forecast to 2030 (US$ Million)

Source: ASSO International Consulting
 
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http://www.assointernationalconsulting.com/
Phone: +(86) 18519734165
 

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