Chemical Cylinders Market By Material (Stainless Steel, Aluminum, Composite Materials); By Application (Industrial Gases, Medical Gases, Hazardous Chemicals, Food and Beverage Gases); By End-User (Chemical Manufacturing, Healthcare and Pharmaceuticals, Oil and Gas, Food and Beverage); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The chemical cylinders market was estimated to be worth around USD 1.4 billion in 2023 and is expected to rise to USD 2.2 billion by 2030, with a CAGR of 6.4% from 2024 to 2030.

 

The Chemical Cylinders Market is an industry that involves the manufacture, development, and use of special vessels required for storing, transporting, and dispensing chemicals. These cylinders come in various types and are often made of stainless steel, aluminum, or any other inflexible and corrosion-resistant material. They are used in petrochemicals, health care, pharmaceuticals, food processing, and many more sectors.

 

Chemical cylinders are required for the expansion of the chemical industry and the transport and storage of hazardous and non-hazardous chemical products in the international market. Regarding the current trends driving the market, stricter regulatory standards for managing chemicals, combined with the increasing focus on safety and environmentally friendly practices, are also reasons for market growth.

 

Market Drivers

Growing Chemical Industry: The chemical industry worldwide is growing due to increased demand in areas such as agriculture, pharma, and manufacturing. This growth calls for the need to have safe and effective means of storing and transporting chemical cylinders. Example: Chemical production in China rose by 7.5% in 2023, and consumers rely on high-capacity chemical cylinders, particularly exports.

 

Stringent Safety and Regulatory Requirements: The chemical cylinders are specialized with strict controls on the transportation and storage of hazardous chemicals hence the need for certified chemical cylinders required by governments and regulatory bodies. Example: In the European Union, the demand for specialized chemical cylinders increased by 15% in 2023 due to the implementation of ADR (European Agreement Concerning the International Carriage of Dangerous Goods by Road) regulations.

 

Increasing International Trade of Chemicals: The mounting globalization of trade procedures has enhanced the transfer of chemicals across geographical regions, thereby requiring robust and compliant chemical cylinders that can uphold global standards. Example: The Indian chemical market was a compelling story in 2023, with chemical exports up 18% that year, led by flammable/incompatible portable chemical cylinders for safe sea transport.

 

Growth in Healthcare and Pharmaceuticals: Chemical cylinders are widely used in the pharmaceutical and healthcare industries because they store and transport medical gases, solvents, and other mixed acids needed in production and processing. Example: The medical-grade chemical cylinders also witnessed a growth of 12% in 2023 in the USA because more hospitals and healthcare facilities were operating.

 

Market Opportunities

Advancements in Cylinder Materials: New product types for composites are seen in the composite cylinders that provide lightweight, enhanced corrosion resistance properties that lead to better durability and utility. Example: A manufacturer in Germany released composite chemical cylinders in 2023 that weighed 30% less, thereby making the cylinders more suitable for industrial use.

 

Focus on Sustainability: The increasing concern about preserving the environment has seen manufacturers design and produce chemical cylinders that are recyclable and reusable for industries that focus on green practices. The chemical companies of the Netherlands are an example of how, in 2023, a reusable cylinder program was launched to mitigate waste by 20%.

 

Market Restraints

High Initial Costs: the high cost of sophisticated chemical cylinders, particularly those made of composite material or containing smart technologies, may limit their uptake in some markets. Small-scale chemical manufacturers in Africa, in particular, had problems embracing advanced cylinders because they were 25 % more expensive than regular ones.

 

Competition from Alternative Storage Solutions: Chemical cylinders face competition in some segments from other storage systems, such as tanks and bulk containers, which slows market growth. For example, in the United States, a petrochemical company changed its production system and utilized bulk storage tanks in 2023, which adversely affected the consumption of chemical cylinders.

 

Market Segmentation

By Material

• Stainless Steel

• Aluminum

• Composite Materials

 

By Application

• Industrial Gases

• Medical Gases

• Hazardous Chemicals

• Food and Beverage Gases

 

By End-User

• Chemical Manufacturing

• Healthcare and Pharmaceuticals

• Oil and Gas

• Food and Beverage

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Segment Analysis

Leading Material: Stainless Steel

Stainless steel cylinders are the most popular type, commanding 45% of the market share in 2023 since they are corrosion-resistant, durable, and ideal for flammable and toxic substances. Example: In Canada, chemical companies started using SS cylinders in 2023 for safety and low maintenance frequent in extreme chemical industries.

 

Leading Application: Industrial Gases

The industrial gases segment captured 40% of market revenue in 2023 due to the increasing use of compressed gases such as hydrogen, oxygen, nitrogen, and others across various industries. Example: In South Korea, industrial gas suppliers increased their cylinder stocks significantly in 2023 due to the rising demand from the semiconductor and electronics industries.

 

Regional Analysis

North America owns the largest share of 38% in the overall market in 2023, owing to well-developed industrial facilities and standard safety norms. Example: In the United States, the sales of chemical cylinders increased by 12% in 2023 due to favorable growth in the sector regarding health care and oil and sectors.

 

Europe is a strategic market for the industry due to regulations, standards, and a focus on sustainability. Germany, France, and the UK lead other nations using advanced chemical cylinder technology. For example, in Germany, chemical manufacturers adopted reusable cylinders in 2023 to achieve a circular economy in the EU.

 

The Asia-Pacific region has the highest CAGR of 7.2% due to the continuing industrialization process and the enhancement of chemical exports by countries like China and India. Example: Chemical production facilities in India took up high-capacity cylinders in 2023 because the export rate grew a further 15% year-on-year.

 

Key Players

• Worthington Industries, Inc.

• Luxfer Holdings PLC

• Faber Industrie S.p.A.

• Linde Group

• Hexagon Composites ASA

• Air Products and Chemicals, Inc.

• Praxair, Inc.

• Chart Industries

• Cyl-Tec, Inc.

• Sinoma Science & Technology Co., Ltd.

 

Future Outlook

Chemical Cylinders are expected to grow steadily in the near future because of changes in materials, growth in industries and aerospace, and growing concern for safety and ecology. In turn, the demand in emerging markets within the Asia-Pacific and Latin America region will be crucial for future growth.

 

Advanced smart monitoring systems, modular designs, and sustainable manufacturing practices in the market by 2030 will redefine chemical cylinders as indispensable tools for chemical transporting and storage.