Hydrogen Tank Material Market

Hydrogen Tank Material Market by Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Tank 1, Tank 2, Tank 3, Tank 4), End-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Pharmaceuticals), Region Global Forecast to 2030

Report Code: CH 8664 May, 2023, by marketsandmarkets.com

Hydrogen Tank Material Market

Hydrogen Tank Material Market was valued at USD 953 million in 2023 and is projected to reach USD 3,988 million by 2030, growing at a cagr 22.7% from 2023 to 2030. Significant growth of hydrogen and hydrogen tanks in industrial applications, chemical industry, automotive & transportation, and many other end-use industries is driving the growth of the market globally.

Attractive Opportunities in the Hydrogen Tank Material Market

Hydrogen Tank Material Market

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Hydrogen Tank Material Market

Hydrogen Tank Material Market Dynamics

Drivers: Rising environmental awareness to increase hydrogen tank materials demand

Stringent environmental norms and regulations are other factors boosting the demand for hydrogen vehicles across the globe. The most important energy fuel sources prevailing globally are gasoline, diesel, petroleum products, and natural gas. The exploration and production of these fuels are harmful and pose a risk to the environment, but natural gas is considered as the alternative fuel for the enhancement of welfare and sustainable development as it reduces carbon emissions, slows down global warming, and lessens GHG emissions. In order to protect against and minimize the risks associated with the usage of gasoline or diesel as a fuel and promote the usage of natural gas, the US government has set up various rules and regulations for environmental conservation. Countries with major natural gas reserves are looking at the advantages of using hydrogen as an alternative fuel; its use results in lower CO2 emissions as compared to the use of petrol or diesel.

Restraints: High cost of composite material-based tanks and regulatory approvals

The market for composites and end-use industries is competitive. A manufacturer needs to have a composite cylinder type-approved by a regulatory body or an independent inspection authority. For instance, in most Asia Pacific countries, such as India and Pakistan, Type 2, Type 3, and Type 4 cylinders are not permissible for commercial purposes. These processes and procedures may discourage the use of hydrogen tanks. There are also certain standards that need to be conformed to, pertaining to the safety measures, to avoid human or property loss from blast accidents. However, such incidents occur mainly due to the use of substandard hydrogen cylinders and hydrogen kits in vehicles, which may hamper the demand and limit the growth of the hydrogen tank material market. These factors may impact the market, eventually.

Opportunities: Emergence of lightweight composite material-based hydrogen tanks

Hydrogen tanks are available in a variety of types, sizes, and weights to suit various applications. The emergence of lightweight cylinders has given rise to a new phase in the hydrogen tanks industry. Composite cylinders, which include Type 3, and Type 4 cylinders are basically, the lightweight cylinders, with Type 4 being the lightest., A cylinder’s cost increases with a reduction in its weight. Over the years, Type 1 has been the most dominant type of cylinder, but in recent years, there has been a shift in the demand toward composite cylinders. The Type 3 cylinders are metal-lined composite cylinders, whereas Type 4 cylinders are plastic-lined composite cylinders, due to which Type 4 is the costliest cylinder. These composite cylinders are lighter than the steel cylinders, safe, reliable, and have an increased life span, owing to their advantageous properties and increasing demand from OEMs.

Challenges: Impact of fluctuating oil prices

The oil price volatility has a significant impact on the natural gas markets. As witnessed in recent years, oil prices were relatively stable, but they fell sharply in 2014, due to which many energy companies were forced to reconsider their investments, business models, and cost structures. Over the years, the wide gap between oil and natural gas prices has led to fuel conversions. Gas prices in some markets are related to oil prices; there are also substitution effects, which means users switch between oil and gas in response to changes in pricing dynamics. Hydrogen is considered economical options and have a cost advantage over oil prices. Even a small reduction in the price differential between natural gas and oil can undermine the viability of hydrogen as transportation fuels. On the other hand, when the prices of oil are at their peak, the demand for natural gas accelerates, ultimately pushing the demand for hydrogen tanks and its material. The uncertain nature of oil prices is expected to impact the growth of the hydrogen tank material industry in the future.

Carbon Fiber to account for the largest market share in terms of both value and volume by 2030

In high-value applications and for higher performance, carbon fiber materials are used to produce hydrogen tanks. Carbon fiber reinforcement is mainly used to prevent galvanic corrosion of the metallic components of the cylinder for long life. These carbon fiber composite materials are majorly used in manufacturing Type 3 and Type 4 hydrogen tanks. The use of carbon fiber material in Type 3 and Type 4 hydrogen tanks, is driving the market due to the reduction in weight of fuel systems and vehicles.

Tank 4 type to be the fastest growing tank type of hydrogen tank material market

Type 4 hydrogen tanks are manufactured with a gas-tight thick rubber membrane, and metal is not used in their structural design. In the Type 4 hydrogen tanks, the plastic liner is reinforced with either woven glass fiber or a woven carbon fiber material, by which the entire tank is wrapped. These composite wrappers offer strength to the cylinder. Type 4 hydrogen tanks are very light and can contain more volumes of gas compared to other types of tanks available in related dimensions due to the very thin wall of the tanks. Also, because of the lesser load in the vehicle, the overall mileage of the vehicles improves. However, these tanks are the most expensive type, since they are made of composites.

Asia Pacific held the largest market share and is expected to witness the highest CAGR in the hydrogen tank material market

Asia Pacific is the dominating region in the hydrogen tank material market, and it is expected to witness high growth in the next five years. Asia Pacific is one of the leading markets for green technology adoption in order to meet government targets for lowering greenhouse gas (GHG) emissions. Because of the commercial deployment of Japanese fuel cell micro-CHP products, Japan and South Korea have invested heavily in fuel cell adoption since 2009. FCEVs are zero-emission vehicles that use an on-board hydrogen fuel cell to power an electric motor. To combat climate change and meet decarbonization targets, governments in the region are encouraging the use of EVs and FCEVs and are funding, either fully or partially, the construction of hydrogen refueling stations to enable the deployment of FCEVs such as public buses and municipal trucks as well as cars. the deployment of fuel cell rail applications in this region can help decarbonize the sector while also propelling the growth of the hydrogen tank material market.

Hydrogen Tank Material Market by Region

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Hydrogen Tank Material Market Players

The key players in the global hydrogen tank material market are:

  • Worthington Industries, Inc. (US)
  • Luxfer Group (England)
  • Hexagon Composites ASA (Norway)
  • Quantum Fuel Systems LLC (US)
  • Faber Industrie SPA (Italy)
  • Everest Kanto Cylinders Ltd. (India)

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the hydrogen tank material industry. The study includes an in-depth competitive analysis of these key players in the hydrogen tank material market, with their company profiles, recent developments, and key market strategies.

Hydrogen Tank Material Market Report Scope

Report Metric

Details

Market Size Value in 2023

USD 953 million

Revenue Forecast in 2030

USD 3,988 million

CAGR

22.7%

Years considered for the study

2021–2030

Base year

2022

Forecast period

2023–2030

Units considered

Value (USD Million/Billion), Volume (Units)

Segments

Material Type, Tank Type, End-use Industry, and Region

Regions

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Companies

Worthington Industries, Inc. (US), Luxfer Group (England), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC (US), Faber Industrie SPA (Italy), Everest Kanto Cylinders Ltd. (India), Avanco Group (Germany), Praxair Technologies, Inc. (US), and others.

This research report categorizes the hydrogen tank material market based on material type, tank type, end-use industry, and region.

By Material Type:
By Tank Type:
  • Tank 1
  • Tank 2
  • Tank 3
  • Tank 4
By End-use Industry:
  • Automotive & Transportation
  • Industrial
  • Chemicals
  • Medical & Pharmaceuticals
  • Others
By Region:
  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

Recent Developments

  • In October 2022, Worthington Industries entered into a Partnership with Innovair Group to bring the best quality cylinders to Canada.
  • In October 2022, Hexagon Purus and Lhyfe companies has got into a collaboration project for production of green and renewable hydrogen for transportation and industrial applications.
  • In July 2022, Rev1 Ventures Partners with Worthington Industries to accelerate advancements in sustainability technology, smart manufacturing. Worthington to provide individual investments, up to $10 million, to propel emerging technologies that align with Worthington’s vision and enable the company to better serve current and future markets.
  • In July 2021, Luxfer Gas Cylinders partnered with Octopus Hydrogen to make heavy goods transportation and the aviation industries cleaner and greener by delivering green hydrogen to the sectors which cannot be decarbonized by batteries alone, mainly aviation and heavy-duty road vehicles.
  • In March 2021, The Worthington Industries subsidiary SCI was acquired by Luxfer Group in full. The goal of this transaction is to strengthen Luxfer Group's capacity for expanding hydrogen and CNG gas potential.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE 
          FIGURE 1 HYDROGEN TANK MATERIAL MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNIT CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH APPROACH 
          FIGURE 2 HYDROGEN TANK MATERIAL MARKET: RESEARCH DESIGN
    2.2 BASE NUMBER CALCULATION 
           2.2.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
           2.2.2 APPROACH 2: DEMAND-SIDE ANALYSIS
    2.3 IMPACT OF RECESSION 
    2.4 FORECAST NUMBER CALCULATION 
           2.4.1 SUPPLY-SIDE
           2.4.2 DEMAND-SIDE
           2.4.3 SECONDARY DATA
                    2.4.3.1 Key data from secondary sources
           2.4.4 PRIMARY DATA
                    2.4.4.1 Key data from primary sources
                    2.4.4.2 Primary interviews with top hydrogen tank material manufacturers
                    2.4.4.3 Breakdown of primary interviews
                    2.4.4.4 Key industry insights
    2.5 MARKET SIZE ESTIMATION 
           2.5.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.5.2 TOP-DOWN APPROACH
                    FIGURE 4 TOP-DOWN APPROACH
    2.6 DATA TRIANGULATION 
          FIGURE 5 HYDROGEN TANK MATERIAL MARKET: DATA TRIANGULATION
    2.7 FACTOR ANALYSIS 
    2.8 ASSUMPTIONS 
    2.9 MARKET GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 
    2.10 LIMITATIONS 
    2.11 RISKS ASSOCIATED WITH HYDROGEN TANK MATERIAL MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 37)
    FIGURE 6 METAL SEGMENT DOMINATED OVERALL HYDROGEN TANK MATERIAL MARKET IN 2022
    FIGURE 7 TYPE 1 TANK TYPE SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
    FIGURE 8 INDUSTRIAL SEGMENT ACCOUNTED FOR LARGEST SHARE OF HYDROGEN TANK MATERIAL MARKET
    FIGURE 9 ASIA PACIFIC LED HYDROGEN TANK MATERIAL MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 40)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN TANK MATERIAL MARKET 
          FIGURE 10 SIGNIFICANT GROWTH EXPECTED IN HYDROGEN TANK MATERIAL MARKET BETWEEN 2023 AND 2030
    4.2 HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE AND REGION 
          FIGURE 11 TYPE 1 TANK TYPE AND ASIA PACIFIC WERE LARGEST MARKETS IN 2022
    4.3 HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE 
          FIGURE 12 METAL SEGMENT DOMINATED MARKET IN 2022
    4.4 HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY 
          FIGURE 13 INDUSTRIAL SEGMENT DOMINATED MARKET IN 2022
    4.5 HYDROGEN TANK MATERIAL MARKET GROWTH, BY KEY COUNTRY 
          FIGURE 14 CHINA TO BE FASTEST-GROWING HYDROGEN TANK MATERIAL MARKET, (2023–2030)
 
5 MARKET OVERVIEW (Page No. - 43)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN HYDROGEN TANK MATERIAL MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for clean energy
                    5.2.1.2 Government investments and initiatives
                                TABLE 1 GOVERNMENT INITIATIVES AND STRATEGIES TO PROMOTE USAGE OF HYDROGEN
                    5.2.1.3 Increasing demand from automotive, industrial, and other end-use industries
                    5.2.1.4 Rising environmental awareness
                                TABLE 2 GLOBAL SALES OF NG VEHICLES, BY REGION, 2021
           5.2.2 RESTRAINTS
                    5.2.2.1 Limited availability of hydrogen refueling infrastructure in developed economies
                    5.2.2.2 High cost of composite material-based tanks and regulatory approvals
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Development of lightweight transportation tanks
                    5.2.3.2 Emergence of lightweight composite material-based hydrogen tanks
           5.2.4 CHALLENGES
                    5.2.4.1 Development of electric cars
                    5.2.4.2 Fluctuating oil prices
    5.3 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 16 HYDROGEN TANK MATERIAL MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF BUYERS
           5.3.2 BARGAINING POWER OF SUPPLIERS
           5.3.3 THREAT OF NEW ENTRANTS
           5.3.4 THREAT OF SUBSTITUTES
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 3 HYDROGEN TANK MATERIAL MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.4 SUPPLY CHAIN ANALYSIS 
          TABLE 4 HYDROGEN TANK MATERIAL MARKET: COMPANIES AND THEIR ROLE IN ECOSYSTEM
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE, BY END-USE INDUSTRIES (KEY PLAYERS)
                    FIGURE 17 AVERAGE SELLING PRICE OF KEY PLAYERS FOR TOP 3 END-USE INDUSTRIES (USD/KG)
                    TABLE 5 AVERAGE SELLING PRICE OF KEY PLAYERS, BY END-USE INDUSTRY (USD/KG)
    5.6 AVERAGE SELLING PRICE, BY MATERIAL TYPE 
          FIGURE 18 AVERAGE SELLING PRICE FOR DIFFERENT MATERIAL TYPES (USD/KG)
    5.7 AVERAGE SELLING PRICE, BY TANK TYPE 
          FIGURE 19 AVERAGE SELLING PRICE BASED ON TANK TYPES (USD/KG)
    5.8 AVERAGE SELLING PRICE TREND 
          TABLE 6 AVERAGE SELLING PRICE TREND IN HYDROGEN TANK MATERIAL MARKET, BY REGION
    5.9 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USE INDUSTRIES
                    TABLE 7 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USE INDUSTRIES
           5.9.2 BUYING CRITERIA
                    FIGURE 21 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
                    TABLE 8 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
    5.10 TECHNOLOGY ANALYSIS 
    5.11 ECOSYSTEM: HYDROGEN TANK MATERIAL MARKET 
    5.12 VALUE CHAIN ANALYSIS 
           FIGURE 22 VALUE CHAIN ANALYSIS: HYDROGEN TANK MATERIAL MARKET
    5.13 CASE STUDY ANALYSIS 
    5.14 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
    5.15 KEY MARKETS FOR IMPORT/EXPORT 
           5.15.1 CHINA
           5.15.2 ITALY
           5.15.3 US
           5.15.4 UKRAINE
    5.16 TARIFF AND REGULATIONS 
           5.16.1 US
           5.16.2 JAPAN
           5.16.3 EUROPE
           5.16.4 CHINA
           5.16.5 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 9 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 10 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.17 HYDROGEN TANK MATERIAL MARKET: OPTIMISTIC, PESSIMISTIC, AND REALISTIC SCENARIOS 
           TABLE 13 HYDROGEN TANK MATERIAL MARKET: CAGR (BY VALUE) IN OPTIMISTIC, PESSIMISTIC, AND REALISTIC SCENARIOS
           5.17.1 OPTIMISTIC SCENARIO
           5.17.2 PESSIMISTIC SCENARIO
           5.17.3 REALISTIC SCENARIO
           5.17.4 STANDARDS IN HYDROGEN TANK MATERIAL MARKET
                     TABLE 14 CURRENT STANDARD CODES FOR AUTOMOTIVE COMPOSITES
                     TABLE 15 CURRENT STANDARD CODES FOR HYDROGEN CYLINDERS
    5.18 PATENT ANALYSIS 
           5.18.1 INTRODUCTION
           5.18.2 METHODOLOGY
           5.18.3 DOCUMENT TYPE
                     TABLE 16 HYDROGEN TANK MATERIAL MARKET: GLOBAL PATENTS
                     FIGURE 23 GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE
                     FIGURE 24 GLOBAL PATENT PUBLICATION TREND: 2012–2022
           5.18.4 INSIGHTS
           5.18.5 LEGAL STATUS OF PATENTS
                     FIGURE 25 HYDROGEN TANK MATERIAL MARKET: LEGAL STATUS OF PATENTS
           5.18.6 JURISDICTION ANALYSIS
                     FIGURE 26 GLOBAL JURISDICTION ANALYSIS
           5.18.7 TOP APPLICANTS' ANALYSES
                     FIGURE 27 CHINA PETROLEUM & CHEM CORP. REGISTERED HIGHEST NUMBER OF PATENTS
           5.18.8 PATENTS BY CHINA PETROLEUM & CHEM CORP.
           5.18.9 PATENTS BY SINOPEC ENGINEERING GROUP CO.
                    5.18.10 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
    5.19 KEY CONFERENCES & EVENTS 
           TABLE 17 DETAILED LIST OF CONFERENCES & EVENTS RELATED TO HYDROGEN TANK MATERIAL MARKET, 2023–2024
 
6 HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE (Page No. - 72)
    6.1 INTRODUCTION 
          FIGURE 28 TYPE 1 TANK TYPE DOMINATED HYDROGEN TANK MATERIAL MARKET
          TABLE 18 HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
          TABLE 19 HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
    6.2 TYPE 1 
           6.2.1 USED FOR STORAGE AND TRANSPORTATION OF HYDROGEN
                    FIGURE 29 ASIA PACIFIC TO REGISTER HIGHEST GROWTH IN TYPE 1 HYDROGEN TANKS
           6.2.2 TYPE 1: HYDROGEN TANK MATERIAL MARKET, BY REGION
                    TABLE 20 TYPE 1: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 21 TYPE 1: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    6.3 TYPE 2 
           6.3.1 LIGHTWEIGHT PROPERTY DRIVING DEMAND FROM APPLICATIONS
                    FIGURE 30 ASIA PACIFIC TO DOMINATE TYPE 2 HYDROGEN TANK MATERIAL MARKET
           6.3.2 TYPE 2: HYDROGEN TANK MATERIAL MARKET, BY REGION
                    TABLE 22 TYPE 2: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 23 TYPE 2: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    6.4 TYPE 3 
           6.4.1 HIGH STRENGTH AND EXTRA IMPACT RESISTANCE
           6.4.2 TYPE 3: HYDROGEN TANK MATERIAL MARKET, BY REGION
                    TABLE 24 TYPE 3: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 25 TYPE 3: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    6.5 TYPE 4 
           6.5.1 LIGHT BUT ALSO COSTLY
           6.5.2 TYPE 4: HYDROGEN TANK MATERIAL MARKET, BY REGION
                    TABLE 26 TYPE 4: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 27 TYPE 4: HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (USD THOUSAND)
 
7 HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE (Page No. - 80)
    7.1 INTRODUCTION 
          FIGURE 31 CARBON FIBER MATERIAL TYPE TO DOMINATE HYDROGEN TANK MATERIAL MARKET
          TABLE 28 HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
          TABLE 29 HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
    7.2 METAL 
           7.2.1 CHEAPEST AND MOST WIDELY USED RAW MATERIAL
                    FIGURE 32 ASIA PACIFIC TO REGISTER FASTEST GROWTH IN METAL-BASED HYDROGEN TANKS
           7.2.2 METAL HYDROGEN TANKS MARKET, BY REGION
                    TABLE 30 METAL HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 31 METAL HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    7.3 CARBON FIBER 
           7.3.1 APPLICATIONS IN HIGH-END APPLICATIONS
                    FIGURE 33 ASIA PACIFIC TO DOMINATE CARBON FIBER-BASED HYDROGEN TANKS MARKET
           7.3.2 CARBON FIBER HYDROGEN TANKS MARKET, BY REGION
                    TABLE 32 CARBON FIBER HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (UNITS)
                    TABLE 33 CARBON FIBER HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    7.4 GLASS FIBER 
           7.4.1 15%–20% LIGHTER THAN TRADITIONAL STEEL
                    FIGURE 34 ASIA PACIFIC TO DOMINATE GLASS FIBER HYDROGEN TANKS MARKET
           7.4.2 GLASS FIBER HYDROGEN TANKS MARKET, BY REGION
                    TABLE 34 GLASS FIBER HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (UNIT)
                    TABLE 35 GLASS FIBER HYDROGEN TANKS MARKET, BY REGION, 2021–2030 (USD THOUSAND)
 
8 HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY (Page No. - 88)
    8.1 INTRODUCTION 
          FIGURE 35 AUTOMOTIVE & TRANSPORTATION INDUSTRY TO DOMINATE HYDROGEN TANK MATERIAL MARKET DURING FORECAST PERIOD
          TABLE 36 HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
          TABLE 37 HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
    8.2 AUTOMOTIVE & TRANSPORTATION 
           8.2.1 FASTEST-GROWING END-USE INDUSTRY OF HYDROGEN TANKS
                    FIGURE 36 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY
           8.2.2 HYDROGEN TANK MATERIAL MARKET IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION
                    TABLE 38 HYDROGEN TANK MATERIAL MARKET IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2021–2030 (UNIT)
                    TABLE 39 HYDROGEN TANK MATERIAL MARKET IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2021–2030 (USD THOUSAND)
    8.3 INDUSTRIAL 
           8.3.1 HIGH USAGE OF TYPE 1 AND TYPE 2 HYDROGEN TANKS
                    FIGURE 37 ASIA PACIFIC TO DOMINATE HYDROGEN TANK MATERIAL MARKET IN INDUSTRIAL SECTOR
           8.3.2 HYDROGEN TANK MATERIAL MARKET IN INDUSTRIAL END-USE INDUSTRY, BY REGION
                    TABLE 40 HYDROGEN TANK MATERIAL MARKET IN INDUSTRIAL END-USE INDUSTRY, BY REGION, 2021–2030 (UNIT)
                    TABLE 41 HYDROGEN TANK MATERIAL MARKET IN INDUSTRIAL END-USE INDUSTRY, BY REGION, 2021–2030 (USD THOUSAND)
    8.4 CHEMICALS 
           8.4.1 ASIA PACIFIC TO BE LARGEST MARKET
           8.4.2 HYDROGEN TANK MATERIAL MARKET IN CHEMICALS END-USE INDUSTRY, BY REGION
                    TABLE 42 HYDROGEN TANK MATERIAL MARKET IN CHEMICALS END-USE INDUSTRY, BY REGION, 2021–2030 (UNIT)
                    TABLE 43 HYDROGEN TANK MATERIAL MARKET IN CHEMICALS END-USE INDUSTRY, BY REGION, 2021–2030 (USD THOUSAND)
    8.5 MEDICAL & PHARMACEUTICALS 
           8.5.1 GROWING APPLICATIONS OF HYDROGEN TANKS DUE TO TECHNOLOGICAL ADVANCEMENTS
           8.5.2 HYDROGEN TANK MATERIAL MARKET IN MEDICAL & PHARMACEUTICALS END-USE INDUSTRY, BY REGION
                    TABLE 44 HYDROGEN TANK MATERIAL MARKET IN MEDICAL & PHARMACEUTICALS END-USE INDUSTRY, BY REGION, 2021–2030 (UNIT)
                    TABLE 45 HYDROGEN TANK MATERIAL MARKET IN MEDICAL & PHARMACEUTICALS END-USE INDUSTRY, BY REGION, 2021–2030 (USD THOUSAND)
    8.6 OTHERS 
           8.6.1 HYDROGEN TANK MATERIAL MARKET IN OTHER END-USE INDUSTRIES, BY REGION
                    TABLE 46 HYDROGEN TANK MATERIAL MARKET IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2030 (UNIT)
                    TABLE 47 HYDROGEN TANK MATERIAL MARKET IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2030 (USD THOUSAND)
 
9 HYDROGEN TANK MATERIAL MARKET, BY REGION (Page No. - 97)
    9.1 INTRODUCTION 
          TABLE 48 HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (UNIT)
          TABLE 49 HYDROGEN TANK MATERIAL MARKET, BY REGION, 2021–2030 (USD THOUSAND)
    9.2 NORTH AMERICA 
           9.2.1 IMPACT OF RECESSION
                    FIGURE 38 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET SNAPSHOT
           9.2.2 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE
                    TABLE 50 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
                    TABLE 51 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
           9.2.3 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE
                    TABLE 52 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
                    TABLE 53 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
           9.2.4 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY
                    TABLE 54 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                    TABLE 55 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
           9.2.5 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY
                    TABLE 56 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (UNIT)
                    TABLE 57 NORTH AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (USD THOUSAND)
                    9.2.5.1 US
                               9.2.5.1.1 Largest market in North America
                               9.2.5.1.2 US: Hydrogen tank material market, by end-use industry
                                               TABLE 58 US: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 59 US: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.2.5.2 Canada
                               9.2.5.2.1 Improving demand from industrial and automobile industries to boost market
                               9.2.5.2.2 Canada: Hydrogen tank material market, by end-use industry
                                               TABLE 60 CANADA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 61 CANADA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
    9.3 EUROPE 
           9.3.1 IMPACT OF RECESSION
                    FIGURE 39 EUROPE: HYDROGEN TANK MATERIAL MARKET SNAPSHOT
           9.3.2 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE
                    TABLE 62 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
                    TABLE 63 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
           9.3.3 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE
                    TABLE 64 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
                    TABLE 65 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
           9.3.4 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY
                    TABLE 66 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                    TABLE 67 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
           9.3.5 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY
                    TABLE 68 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (UNIT)
                    TABLE 69 EUROPE: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.1 Germany
                               9.3.5.1.1 Largest market in Europe
                               9.3.5.1.2 Germany: Hydrogen tank material market, by end-use industry
                                               TABLE 70 GERMANY: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 71 GERMANY: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.2 Italy
                               9.3.5.2.1 Efforts to reduce carbon emissions from automobile & transportation industries to boost market
                               9.3.5.2.2 Italy: Hydrogen tank material market, by end-use industry
                                               TABLE 72 ITALY: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 73 ITALY: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.3 France
                               9.3.5.3.1 Fuel and energy efficiency plan to boost market
                               9.3.5.3.2 France: Hydrogen tank material market, by end-use industry
                                               TABLE 74 FRANCE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 75 FRANCE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.4 UK
                               9.3.5.4.1 Changes in climate change regulations to boost market
                               9.3.5.4.2 UK: Hydrogen tank material market, by end-use industry
                                               TABLE 76 UK: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 77 UK: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.5 Netherlands
                               9.3.5.5.1 Plans to improve hydrogen-based vehicles and refueling infrastructure to boost market
                               9.3.5.5.2 Netherlands: Hydrogen tank material market, by end-use industry
                                               TABLE 78 NETHERLANDS: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 79 NETHERLANDS: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.3.5.6 Rest of Europe
                               9.3.5.6.1 Rest of Europe: Hydrogen tank material market, by end-use industry
                                               TABLE 80 REST OF EUROPE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 81 REST OF EUROPE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
    9.4 ASIA PACIFIC 
           9.4.1 IMPACT OF RECESSION
                    FIGURE 40 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET SNAPSHOT
           9.4.2 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE
                    TABLE 82 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
                    TABLE 83 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
           9.4.3 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE
                    TABLE 84 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
                    TABLE 85 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
           9.4.4 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY
                    TABLE 86 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                    TABLE 87 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
           9.4.5 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY
                    TABLE 88 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (UNIT)
                    TABLE 89 ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (USD THOUSAND)
                    9.4.5.1 South Korea
                               9.4.5.1.1 Development of hydrogen and fuel cell-based vehicles to boost market
                               9.4.5.1.2 South Korea: Hydrogen tank material market, by end-use industry
                                               TABLE 90 SOUTH KOREA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 91 SOUTH KOREA: HYDROGEN TANK MATERIAL, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.4.5.2 China
                               9.4.5.2.1 Carbon neutrality targets to drive hydrogen as major energy source
                               9.4.5.2.2 China: Hydrogen tank material market, by end-use industry
                                               TABLE 92 CHINA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 93 CHINA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.4.5.3 India
                               9.4.5.3.1 Changes in regulations in favor of hydrogen as fuel to boost market
                               9.4.5.3.2 India: Hydrogen tank material market, by end-use industry
                                               TABLE 94 INDIA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 95 INDIA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.4.5.4 Japan
                               9.4.5.4.1 National hydrogen strategies to achieve emission reduction targets to boost market
                               9.4.5.4.2 Japan: Hydrogen tank material market, by end-use industry
                                               TABLE 96 JAPAN: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 97 JAPAN: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.4.5.5 Rest of Asia Pacific
                               9.4.5.5.1 Rest of Asia Pacific: Hydrogen tank material market, by end-use industry
                                               TABLE 98 REST OF ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 99 REST OF ASIA PACIFIC: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
    9.5 MIDDLE EAST & AFRICA 
           9.5.1 IMPACT OF RECESSION
           9.5.2 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE
                    TABLE 100 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
                    TABLE 101 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
           9.5.3 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE
                    TABLE 102 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
                    TABLE 103 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
           9.5.4 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY
                    TABLE 104 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                    TABLE 105 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
           9.5.5 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY
                    TABLE 106 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (UNIT)
                    TABLE 107 MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (USD THOUSAND)
                    9.5.5.1 South Africa
                               9.5.5.1.1 Net-zero emission target by 2050 to influence market
                               9.5.5.1.2 South Africa: Hydrogen tank material market, by end-use industry
                                               TABLE 108 SOUTH AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 109 SOUTH AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.5.5.2 UAE
                               9.5.5.2.1 Use of hydrogen as energy source to drive market
                               9.5.5.2.2 UAE: Hydrogen tank material market, by end-use industry
                                               TABLE 110 UAE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 111 UAE: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.5.5.3 Rest of middle east & Africa
                               9.5.5.3.1 Rest of Middle East & Africa: Hydrogen tank material market, by end-use industry
                                               TABLE 112 REST OF MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                               TABLE 113 REST OF MIDDLE EAST & AFRICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
    9.6 LATIN AMERICA 
           9.6.1 IMPACT OF RECESSION
           9.6.2 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE
                    TABLE 114 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (UNIT)
                    TABLE 115 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY MATERIAL TYPE, 2021–2030 (USD THOUSAND)
           9.6.3 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE
                    TABLE 116 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (UNIT)
                    TABLE 117 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY TANK TYPE, 2021–2030 (USD THOUSAND)
           9.6.4 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY
                    TABLE 118 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                    TABLE 119 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
           9.6.5 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY
                    TABLE 120 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (UNIT)
                    TABLE 121 LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY COUNTRY, 2021–2030 (USD THOUSAND)
                    9.6.5.1 Brazil
                               9.6.5.1.1 Need for cleaner transportation fuels to drive market
                               9.6.5.1.2 Brazil: Hydrogen tank material market, by end-use industry
                                              TABLE 122 BRAZIL: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                              TABLE 123 BRAZIL: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.6.5.2 Mexico
                               9.6.5.2.1 Changing energy dependence to greener alternatives to drive market
                               9.6.5.2.2 Mexico: Hydrogen tank material market, by end-use industry
                                              TABLE 124 MEXICO: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                              TABLE 125 MEXICO: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
                    9.6.5.3 Rest of Latin America
                               9.6.5.3.1 Rest of Latin America: Hydrogen tank material market, by end-use industry
                                              TABLE 126 REST OF LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (UNIT)
                                              TABLE 127 REST OF LATIN AMERICA: HYDROGEN TANK MATERIAL MARKET, BY END-USE INDUSTRY, 2021–2030 (USD THOUSAND)
 
10 COMPETITIVE LANDSCAPE (Page No. - 145)
     10.1 INTRODUCTION 
     10.2 MARKET SHARE ANALYSIS 
             FIGURE 41 MARKET SHARE OF TOP COMPANIES IN HYDROGEN TANK MATERIAL MARKET
     10.3 MARKET RANKING 
             FIGURE 42 RANKING OF TOP FIVE PLAYERS IN HYDROGEN TANK MATERIAL MARKET
     10.4 MARKET EVALUATION FRAMEWORK 
             TABLE 128 HYDROGEN TANK MATERIAL MARKET: DEALS, 2018–2022
             TABLE 129 HYDROGEN TANK MATERIAL MARKET: OTHERS, 2018–2022
             TABLE 130 HYDROGEN TANK MATERIAL MARKET: NEW PRODUCT DEVELOPMENTS, 2018–2022
     10.5 REVENUE ANALYSIS OF TOP MARKET PLAYERS 
     10.6 COMPANY EVALUATION MATRIX 
             TABLE 131 COMPANY PRODUCT FOOTPRINT
             TABLE 132 COMPANY END-USE INDUSTRY FOOTPRINT
             TABLE 133 COMPANY REGION FOOTPRINT
             10.6.1 STARS
             10.6.2 PERVASIVE PLAYERS
             10.6.3 PARTICIPANTS
             10.6.4 EMERGING LEADERS
                        FIGURE 43 HYDROGEN TANK MATERIAL MARKET (GLOBAL): COMPETITIVE LEADERSHIP MAPPING, 2022
             10.6.5 STRENGTH OF PRODUCT PORTFOLIO
                        FIGURE 44 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN HYDROGEN TANK MATERIAL MARKET
             10.6.6 BUSINESS STRATEGY EXCELLENCE
                        FIGURE 45 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN HYDROGEN TANK MATERIAL MARKET
     10.7 START-UPS/ SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX 
             10.7.1 PROGRESSIVE COMPANIES
             10.7.2 RESPONSIVE COMPANIES
             10.7.3 DYNAMIC COMPANIES
             10.7.4 STARTING BLOCKS
                        FIGURE 46 HYDROGEN TANK MATERIAL MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2022
 
11 COMPANY PROFILES (Page No. - 162)
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
     11.1 KEY COMPANIES 
             11.1.1 WORTHINGTON INDUSTRIES, INC.
                        TABLE 134 WORTHINGTON INDUSTRIES, INC.: COMPANY OVERVIEW
                        FIGURE 47 WORTHINGTON INDUSTRIES, INC.: COMPANY SNAPSHOT
                        TABLE 135 WORTHINGTON INDUSTRIES INC.: NEW PRODUCT/TECHNOLOGY DEVELOPMENT
                        TABLE 136 WORTHINGTON INDUSTRIES INC: DEALS
             11.1.2 LUXFER GROUP
                        TABLE 137 LUXFER GROUP: COMPANY OVERVIEW
                        FIGURE 48 LUXFER GROUP: COMPANY SNAPSHOT
                        TABLE 138 LUXFER GROUP: NEW PRODUCT /TECHNOLOGY DEVELOPMENTS
                        TABLE 139 LUXFER GROUP: DEALS
             11.1.3 HEXAGON COMPOSITES ASA
                        TABLE 140 HEXAGON COMPOSITES ASA: COMPANY OVERVIEW
                        FIGURE 49 HEXAGON COMPOSITES ASA: COMPANY SNAPSHOT
                        TABLE 141 HEXAGON COMPOSITES ASA: DEALS
                        TABLE 142 HEXAGON COMPOSITES ASA: OTHERS
             11.1.4 QUANTUM FUEL SYSTEMS LLC
                        TABLE 143 QUANTUM FUEL SYSTEMS LLC: COMPANY OVERVIEW
                        TABLE 144 QUANTUM FUEL SYSTEMS LLC: DEALS
             11.1.5 FABER INDUSTRIE S.P.A.
                        TABLE 145 FABER INDUSTRIE S.P.A.: COMPANY OVERVIEW
                        TABLE 146 FABER INDUSTRIE S.P.A.: OTHER DEVELOPMENTS
             11.1.6 EVEREST KANTO CYLINDER LTD.
                        TABLE 147 EVEREST KANTO CYLINDER LTD.: COMPANY OVERVIEW
                        FIGURE 50 EVEREST KANTO CYLINDER LTD.: COMPANY SNAPSHOT
             11.1.7 AVANCO GROUP
                        TABLE 148 AVANCO GROUP: COMPANY OVERVIEW
             11.1.8 PRAXAIR TECHNOLOGY INC.
                        TABLE 149 PRAXAIR TECHNOLOGY INC.: COMPANY OVERVIEW
             11.1.9 BEIJING TIANHAI INDUSTRY CO. LTD.
                        TABLE 150 BEIJING TIANHAI INDUSTRY CO. LTD.: COMPANY OVERVIEW
             11.1.10 COMPOSITES ADVANCED TECHNOLOGIES, LLC (CATEC GASES)
                        TABLE 151 COMPOSITES ADVANCED TECHNOLOGIES, LLC (CATEC GASES): COMPANY OVERVIEW
             11.1.11 NPROXX
                        TABLE 152 NPROXX: COMPANY OVERVIEW
                        TABLE 153 NPROXX: NEW PRODUCT /TECHNOLOGY DEVELOPMENTS
                        TABLE 154 NPROXX: DEALS
             11.1.12 TENARIS
                        TABLE 155 TENARIS: COMPANY OVERVIEW
                        FIGURE 51 TENARIS: COMPANY SNAPSHOT
                        TABLE 156 TENARIS: NEW PRODUCT /TECHNOLOGY DEVELOPMENTS
                        TABLE 157 TENARIS: DEALS
             11.1.13 PRAGMA INDUSTRIES
                        TABLE 158 PRAGMA INDUSTRIES: COMPANY OVERVIEW
                        TABLE 159 PRAGMA INDUSTRIES: DEALS
             11.1.14 PLASTIC OMNIUM
                        TABLE 160 PLASTIC OMNIUM: COMPANY OVERVIEW
                        FIGURE 52 PLASTIC OMNIUM: COMPANY SNAPSHOT
                        TABLE 161 PLASTIC OMNIUM: DEALS
             11.1.15 UMOE ADVANCED COMPOSITES
                        TABLE 162 UMOE ADVANCED COMPOSITES: COMPANY OVERVIEW
                        TABLE 163 UMOE ADVANCED COMPOSITES: DEALS
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     11.2 OTHER PLAYERS 
             11.2.1 DOOSAN MOBILITY INNOVATION
             11.2.2 AMS COMPOSITE CYLINDERS
             11.2.3 BNH GAS TANKS LLP
             11.2.4 SHIJIAZHUANG ENRIC GAS EQUIPMENT CO., LTD.
             11.2.5 CALVERA HYDROGEN
             11.2.6 MAHYTEC
             11.2.7 STEELHEAD COMPOSITES INC.
             11.2.8 MARINE SERVICE NORD
 
12 APPENDIX (Page No. - 206)
     12.1 DISCUSSION GUIDE 
     12.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 
     12.3 CUSTOMIZATION OPTIONS 
     12.4 RELATED REPORTS 
     12.5 AUTHOR DETAILS 

The study involved two major activities in estimating the current size of the hydrogen tank material market. Exhaustive secondary research was performed to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Factiva, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The hydrogen tank material market comprises several stakeholders, such as material suppliers, manufacturers, end-product users, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of mainly the automotive & transportation, industrial, chemicals, medical & pharmaceuticals, and other end-use industries. Advancements in technology and diverse applications in various end-use industries describe the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

Hydrogen Tank Material Market Size, and Share

Notes: Tiers of companies are selected based on their ownership and revenues in 2022.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the hydrogen tank material market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall hydrogen tank material market size, using the market size estimation processes explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the automotive & transportation, industrial, chemicals, medical & pharmaceuticals.

Market Definition

The Office of Energy Efficiency and Renewable Energy has defined that hydrogen can be stored physically as either a gas or a liquid. Storage of hydrogen as a gas typically requires high-pressure tanks [350–700 bar (5,000–10,000 psi) tank pressure]. Storage of hydrogen as a liquid requires cryogenic temperatures because its boiling point at one atmosphere pressure is -423.04°F (−252.8°C).

Hydrogen tank can be considered as a storage vessel designed for holding or storing hydrogen gas wither at low or high temperature. Hydrogen tank materials mainly consist of carbon fiber, glass fiber, metal or composite materials. Overall, the choice and preference of the materials depends on the applications and required properties and characteristics including weight, capacity, pressure, and cost. The market covers hydrogen storage tanks used to store hydrogen in gaseous form for stationary and mobile applications. Stationary hydrogen storage tanks in the form of bundles and cascades are used to store hydrogen gas in hydrogen refueling stations, chemical, industrial, medical & pharmaceutical, and other industries. The mobile applications include hydrogen storage tanks in the form of bundles and cascades for transporting hydrogen at shorter distances. The mobile applications also include on-board (fuel tanks) hydrogen tanks and those transported through tube trailers over a distance of 300 Km. The scope of this report is restricted to tanks used to store hydrogen in gaseous form and doesn’t include those used to store cryogenic, cryo-compressed or material-based hydrogen tanks. The cost of gaseous hydrogen tanks is considered for the revenue estimation and depends on various factors such as material, industry, and tank volume.

Key Stakeholders

  • Hydrogen tank manufacturers
  • Raw material suppliers
  • Distributors and suppliers
  • Industry associations
  • Universities, governments & research organizations
  • Associations and industrial bodies
  • Research and consulting firms
  • R&D institutions
  • Environmental support agencies
  • Investment banks and private equity firms

Objectives of the Report

  • To define, describe, and forecast the size of the hydrogen tank material industry, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To provide detailed information about the technological advancements influencing the growth of the market
  • To forecast the market based on the material type, tank type, and end-use industry
  • To define, describe, and forecast the market based on five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
  • To analyze recent developments such as expansions and joint ventures in the market
  • To strategically profile the key players and comprehensively analyze their market share and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of Europe hydrogen tank material market
  • Further breakdown of Rest of North America hydrogen tank material market
  • Further breakdown of Rest of Asia Pacific hydrogen tank material market
  • Further breakdown of Rest of Middle East & Africa hydrogen tank material market
  • Further breakdown of Rest of Latin America hydrogen tank material markets

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
CH 8664
Published ON
May, 2023
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