Aluminium Cylinder Market Size, Share & Industry Analysis, By Type (High pressure(>2000PSI), Low pressure(<2000PSI)), By Application (Food & Beverage, Medical, Special & Industrial, Others(Scuba, Fire extinguisher, etc.)) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI101790 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Aluminium cylinder refers to storage and transport of various gases, such as nitrogen, oxygen, helium, carbon dioxide and natural gases above atmospheric pressure. These gases are utilized mainly in chemical industry, mining industry and hospitality industry. The major application of aluminium cylinder is into the storage and transport of industrial gas, medical oxygen, food & beverage grade gas and alternative aerospace gases. Moreover, high pressure aluminium gas cylinder creates hydrophobic layer on internal surface that does not absorb gas molecules.

Key Market Driver -

Key Market Driver – • Strict governmental laws regarding worker safety. • Technological development of gas handling equipment.

Key Market Restraint -

Key Market Restraint – • Unsystematic transport of gas handling equipment.

The emergence of the global aluminium cylinder market is likely to witness high demand over the forecast period owing to its less weight, ease of transportation, non-affection of carbonic acid and resistance to corrosion nature. The companies are now focusing on aluminium cylinder & related products mainly in North America owing to its cutting edge technology and innovations in the large number of infrastructure development projects that are in progress. Companies are opting for merger & acquisition with local players to sustain the reach and maintain their position in the competitive market. For instance, Luxfer Gas Cylinders has signed a joint venture agreement with Uttam Air Products to manufacture aluminium cylinders in India. Furthermore, in June 2017, Worthington industries has acquired Amtrol for nearly USD 283 million to expand the core competencies of pressure cylinder to wholesale and retail customers.

Key Players Covered:

Key players operating in the global aluminium cylinder market are Luxfer Gas Cylinders, Hexagon Composites ASA, Sinoges, Faber Industrie SPA, Worthington Industries, Al-Can Group, Time Technoplast Ltd., Rubis, Beijing Tianhai Industry Co., Ltd., Aburi Ltd. among others.

Regional Analysis:

The aluminium cylinder market in North America is experiencing the dominance, owing to the strong growth of demand in forecast period. In U.S., strict government standards have positive impact on proper and safest use of gas carrying equipment. Aluminium cylinder market has high demand owing to rapid growth of gas utilization in metallurgical and chemical industries. For instance, in August 2017, Worthington Industries has introduced its lightest type 3 Rail Mount truck installed with brackets to hold an aluminium cylinder.

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Asia Pacific is expected to witness a rapid growth in the forecast period. The sudden rise in population and infrastructural developments is driving the growth of utilization of gas carrying equipment in countries like India and Australia. For instance, Luxfer- Uttam’s exclusive 7000-series alloy hoop wrapped Composite Life support cylinders are available for SCUBA in Australia.

The aluminium cylinder market in Latin America is recovering from low market growth. Countries such as Peru and Brazil are experiencing the significant growth mainly associated with less respiratory deceases, growing demand of natural gases and medical gases.

Segmentation

ATTRIBUTE	DETAILS
By Type	High pressure(>2000PSI) Low pressure(<2000PSI)
By Application	Food & Beverage Medical Special & Industrial Others(Scuba, Fire extinguisher, etc.)
By Geography	North America (the USA, Canada and Rest of North America) Europe (U.K., Germany, France, Italy, Spain, Scandinavia and Rest of Europe) Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific) Latin America (Brazil, Mexico and Rest of Latin America) Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Key Industry Developments

May 2019: - Luxfer gas cylinders experimented its lightweight L7X medical cylinders that offers significant cost saving and productivity improvements.

October 2016: - Hexagon Composites ASA has signed an agreement with Avanco GmbH to acquire its subsidiary, xperion Energy & Environment for nearly around USD 43 Million to expand the position in Europe.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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