Opportunities in the global composite cylinder market have evolved through a number of stages i.e. from first use of composite cylinders to development of second generation type 4 composite cylinders and increase penetration of cylinder in new application. Lucintel has found the future of this market to be promising; the global composite cylinder market is expected to reach $0.8 billion by 2025 with a CAGR of 0.7%. In this market, type III is the largest segment by tank type, whereas transportation is largest by end use industry. Players can benefit from the available opportunities like higher acceptance level and increasing use of lightweight cylinders.
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Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit are some of the companies profiled in this report.
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