A gas cylinder may be a pressure vessel for storage and containment of gases at above air pressure. High-pressure gas cylinders also are called bottles. Inside the cylinder the stored contents could also be during a state of gas, vapor over liquid, supercritical fluid, or dissolved during a substrate material, counting on the physical characteristics of the contents. A typical gas cylinder design is elongated, standing upright on a flattened bottom end, with the valve and fitting at the highest for connecting to the receiving apparatus.
A seamless composite translucent cylinder made up from a polyethylene, moulded inner lining, glass fibres and resin with inner liner to make a good greater strength and an outer layer makes this a perfect one to use.
Due to the superior performance of composite LPG cylinder, the steel LPG cylinder must get replaced by composite LPG cylinder gradually. And with the event of technology, there'll be better materials to be developed.
Indian LPG imports have been registering some remarkable trends in the last 10 years. The growth trends over the last 10 years, 5 years and 1 year are: 17% CAGR (FY07 to FY17), 14% CAGR (FY12 to FY17) and 23%. At nearly 11 million tonnes in FY17, India surpassed Japan’s imports at 10.6 million tonnes.
The government has gone full throttle in promoting LPG as a reliable fuel through schemes such as Pahal, Ujjwala, Direct Benefit Transfer and 'Give it Up' which led to increased adoption of LPG in residential segment. While 'Pahal' got enlisted under Guinness Book of World Record for its largest cash transfer at a whopping USD 6.5 billion. All the same, under the Ujjwala scheme free LPG connections will be provided to 5 crore poor households.
A rapid increase in urban population combined with increasing LPG penetration in rural areas has resulted in a 10% growth in LPG consumption, making India the second largest LPG consumer in the World at 19 million tonne per year. Based on Government's continued efforts to promote clean fuel and increased adoption by consumers, LPG consumption is expected to see a sustained double-digit growth in the years to come.
Global composite cylinders market stood at $ 601 million in 2018 and is projected to reach $ 921 million by 2024, exhibiting a CAGR of over 7% during 2019-2024, owing to increasing demand for explosion proof, non-corrosive and lightweight LPG cylinders. Composite cylinder is a high-pressure vessel that is made of a composite-polymer material and placed in a plastic body. The technology of manufacturing a modern composite cylinder is a very complex and high-tech process, thus its cost is much higher than the cost of a metal analogue. Increasing consumption of LPG in the developing countries is expected to boost the demand.
Increasing demand for lightweight, explosion proof and non-corrosive LPG cylinders and government push towards the usage of composite cylinders are a number of the most important drivers of the market. Increase within the consumption of LPG within the developing economies further elevate the demand for composite LPG cylinders over subsequent five years. As an entire any entrepreneur can venture during this project without risk and earn profit.
Few Indian major players are as under
Everest Kanto Cylinder Ltd
Hindustan Petroleum Corpn. Ltd
Supreme Cylinders Ltd.
Time Technoplast Ltd.
