The new report by Expert Market Research titled, ‘Global Aluminium Cylinder Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aluminium cylinder market, assessing the market based on its segments like product types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Aluminium Cylinder Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.3%
In comparison to carbon alloy steel cylinders, aluminium cylinders are more commonly used because of its lighter weight, anti-corrosive properties, and ease of shipping. Numerous industries, such as medicine, home care, scuba diving, drinks, fire extinguishers, sports and fitness, tracking, paintball, IABP machines, and soda machines, among others are using aluminium cylinders.
These uses are anticipated to propel the global aluminium cylinder market. Additionally, aluminium cylinders are non-magnetic (as opposed to steel cylinders), making them suitable in operating rooms and MRI centres. Such widespread use of aluminium cylinders is accelerating the market growth.
Aluminium Cylinder Industry Definition and Major Segments
Modern aluminium cylinders are lightweight, compact, and simple to handle; they are constructed of aluminium and are far more portable than steel cylinders in an emergency.
By type, the market is segmented into:
• High Pressure (>2000PSI)
• Low Pressure (<2000PSI)
Based on application, the market is divided into:
• Food and Beverage
• Special and Industrial
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Aluminium Cylinder Market Trends
The companies are focusing on aluminium cylinders and related products mainly in North America due to the cutting-edge technologies and innovations in the region. The rise in population and the growing number of infrastructural projects globally are also propelling the growth of the market.
The high demand for aluminium cylinders can also be attributed to the rapid growth of gas utilisation in the metallurgical and chemical industries. In addition, stricter government laws regarding worker safety are one of the major factors driving the global aluminium cylinder market growth.
Key Market Players
The major players in the market are:
- Luxfer Gas Cylinders
- Faber Industrie S.P.A.
- Worthington Industries, Inc.
- Al- Can Exports Private Limited
- Axcel Gases
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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