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Global Aluminium Cylinder Market to Grow at a CAGR of 6.3% During the Period 2022-2027, Driven by Uses in Multiple Applications

According to a new report by EMR titled, ‘Global Aluminium Cylinder Market Report and Forecast 2022-2027’, the global aluminium cylinder market is expected to grow at a CAGR of 6.3% during the period 2022-2027, led by advantages of aluminium cylinders over steel cylinders.

Aluminium cylinders are widely in use due to their lesser weight, anti-corrosive nature and ease of transportation as compared to carbon alloy steel cylinders. Also, aluminium cylinders are better looking than alloy steel cylinders. The various types of aluminium cylinders available on the market include high pressure cylinders, disposable/low pressure cylinders, and those used in various applications, including medical, homecare, scuba, beverages, fire extinguishers, sports and fitness, tracking, paintball, IABP machine, soda machine, etc. Such applications are expected to drive the global aluminium cylinder market. North America, Europe and Asia are likely to be key markets.

 

Key Developments

In 2021, Metal Impact East LLC, a subsidiary of Chicago, US-based Thunderbird Manufacturing LLC, acquired the Luxfer Holdings PLC aluminium gas cylinders division. According to Metal Impact, the addition of the manufacturing operations of Luxfer in Graham, North Carolina, and its range of products and services, made it a premier aluminium gas cylinder supplier to the medical and healthcare industries. The acquisition would more than double the cylinder capacity and manufacturing footprint of Metal Impact, assisting a more expansive line of cylinders for a wide range of markets, including food and beverage, fire extinguishing, industrial, performance racing, SCUBA, and life support. Such developments are expected to drive the global aluminium cylinder market. Metal Impact is a provider of aluminium and steel impact extrusions and gas cylinders.

In 2021, Luxfer announced the strategic acquisition of Structural Composites Industries (SCI); SCI strengthened Luxfer’s composite cylinder offering and aligned with recent investments to increase its alternative fuel abilities to take advantage of the growing compressed natural gas (CNG) and Hydrogen opportunities. The SCI team would join the Luxfer Gas Cylinder’s team located in Riverside, CA, and complement Luxfer’s additional sites in UK, Canada and China. For Luxfer, the addition of SCI significantly enhanced their product offering and fortified their capabilities in alternative fuels and aerospace applications. With the intent to divest the majority of Luxfer’s aluminium operations and the announcement of SCI’s acquisition, Luxfer sought to actively reshape its portfolio and open new avenues of growth.

In 2022, Worthington Industries announced a price increase on steel and aluminium cylinders.

In 2019, Luxfer Gas Cylinders, the world’s largest manufacturer of high-pressure composite and aluminium cylinders, displayed its lightweight L7X® medical cylinders at Hospitalar 2019.  Luxfer’s patented higher-strength L7X alloy medical cylinders offered significant cost savings and productivity improvements to the healthcare industry.

Key Findings of the Report:

  • The global aluminium cylinder market is expected to be driven by advantages of aluminium cylinders over steel cylinders.
  • Uses in multiple applications are likely to boost market growth.
  • North America, Europe and Asia are projected to be key markets.

Market Analysis by Type, Application and Region:

  • By type, the market is segmented into High Pressure (>2000PSI) and Low Pressure (<2000PSI).
  • By application, the market is divided into Medical, Food and Beverage, Special and Industrial, and Others.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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