Composite Hoses Market to Reach US$ 354 Million in 2024, Says Stratview Research
DETROIT, July 25, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Composite Hoses Market by Media Type (Oil & Liquid Fuel, Gas, and Chemical), by Inner Liner Type (Polypropylene, Fluoropolymers, Polyamide, and Others,), by Application Type (In-Plant Transfer, Tank Trucks and Railcar Transfer, Marine Transfer, and Others), by Pressure Type (<200 PSI, 200-250 PSI, and >250 PSI), and by Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This comprehensive report, from Stratview Research, studies the composite hoses market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report estimates current and future demand for composite hoses at the global, regional, as well as country-level. It also studies all the major suppliers of composite hoses across the globe. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Composite Hoses Market: Highlights
Composite hoses are preferred for the conveyance of fluids, such as aggressive chemicals, oil, cryogenic gases, inks & paints, and petroleum products, from one point to another. They are made with spirally wrapped inner layer reinforced with multiple layers of thermoplastic fabrics and films, held together by an inner and outer metal wire. These hoses are used in a wide array of plants/industries including oil and petroleum refineries, steel plants, chemical plants, pharmaceutical plants, storage tank terminals, ink and paint industries, and paper mills. Apart from these applications, these hoses also found usage in marine vessels and road tank haulages.
Composite hoses are constructed with different types of inner liners including polypropylene, polytetrafluoroethylene (PTFE), ethylene chlorotrifluoroethylene (ECTFE), and polyamide. The inner wire used in composite hoses provides structural support and crush resistance and are made of either polypropylene-coated steel, or stainless steel, or galvanized steel. The outer wire provides structural integrity and is generally made of either galvanized steel or stainless steel.
As per Stratview Research, the market for composite hoses is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 354 million in 2024. Organic growth in oil & gas production and chemical industry, and increasing preference of composite hose over its counterparts are the major factors spurring the market growth.
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Based on the media type, oil & liquid fuel is likely to remain the growth engine of the market during the forecast period. Increasing rapid industrialization and urbanization, especially in the developing economies, such as China and India, is creating a greater demand for oil & gas. To have a smooth supply of oil and liquid fuel, the demand for composite hoses is increasing at an excellent rate. It is estimated that oil & liquid fuel will remain the most dominant segment of the market in the coming five years as well.
Based on the inner liner type, the market is segmented into polypropylene, fluoropolymers, polyamide, and others. Polypropylene liner is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. Polypropylene liners are predominantly used in composite hoses, owing to their excellent flexibility, ease of handling, leak-free transfer of fluid, and good electrical conductivity.
Tank truck & railcar transfer is expected to remain the dominant segment of the market during the forecast period, whereas in-plant transfer is expected to be the fastest-growing segment in the same period. For tank truck application, composite hoses are mainly used to convey oil and liquid fuels from refineries to storage facilities and from storage facilities to petrol pumps.
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In terms of region, Asia-Pacific is projected to remain the largest market during the forecast period. Increasing chemical production and rising fuel demand are fuelling the growth of composite hoses in the region. North America is projected to remain the second-largest market for composite hoses in the same period. Increasing fuel demand by the emerging economies and increasing shale gas production are triggering the demand for composite hoses in the region. The USA is the growth engine of the region's market and is one of the largest producers of oil & gas in the world.
Key players in the market are Alfagomma S.p.A., Dantec Ltd., United Flexible Inc., Novaflex Group, Trelleborg AB, Polyhose, Gasso Equipments, Gutteling B.V., and Flextral. Development of lightweight and flexible composite hoses, expansion in untapped markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the global composite hoses market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Composite Hoses Market, by Media Type:
- Oil & Liquid Fuel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Hoses Market, by Inner Liner Type
- Polypropylene (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fluoropolymer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyamide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Hoses Market, by Application Type
- In-Plant Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Tank Trucks and Railcar Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Marine Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Hoses Market, by Pressure Type
- <200 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 200-250 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- >250 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Composite Hoses Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Composites Industry
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About Stratview Research
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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
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