The world market size for Composite Cylinders will hit USD 940 million by 2025, from USD 690 million by 2020 and 6.4% by CAGR between 2020 and 2025.

Thanks to their unique properties such as being lightweight and not being corrosive, composite cylinders are used more and more in developed and developing countries. Furthermore, they can be used as an alternative to steel cylinders. This reduces the cost of production and increases the company's sales growth. As a result, many producer investments in the composite cylinder industry have been gradually growing.

Composite LPG cylinder composed and attached with resin is composed of helically woven fiber. They represent a significant shift to a new generation technology that has desirable characteristics, including 100% recyclable and UV-resistant characteristics, to name a few.

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The growth of the composite cylinder market can nevertheless be hampered by environmental products and governmental strict policies. Continuous raw material availability and customer knowledge are also some of the most significant challenges to the composite cylinder industry.

The size the demand for composite cylinders is expected to rise significantly from 2019 to 2025. The composite cylinders will be expanding with the rising demand for lightweight storage solutions combined with the growing amount of natural gas vehicles.

The growing transport industry, combined with the strict safety requirements for safe gas transport, would drive the market share of the composite cylinders. The growing adoption and easy handling of the product would improve the market landscape due to its explosion-bearing ability. The composite cylinder consists of a transparent structure that allows the consumer to see the amount of gas clearly.

Luxfer Gas Cylinders
AMS Composite Cylinders
Hexagon Composites ASA
FABER INDUSTRIES S.P.A
Dragerwerk
Worthington Cylinders
Sinoma
Quantum Technologies
Aburi Composites
HITACHI
KOMATSU
Ventura Engineering Pvt. Ltd.
Dragerwerk AG and Co. KGaA.

Source: VynZ Research