The global FRP tank market is projected to grow at a robust rate during the forecast period, 2023-2027. Fibreglass-reinforced Plastic (FRP) tank offers complete protection against corrosive fluids and harsh environments at various temperatures, pressures, and adverse weather conditions. The market growth can be attributed to the growing end-use applications in emerging economies and an increasing number of desalination plants.
The Important Elements of the Global FRP Tank Market
Besides, the growing need for the replacement of old existing tanks and increasing demand for lightweight tanks in water treatment, chemical, and oil & gas applications are some of the factors contributing to the growth of the global FRP tank market. Besides, the rising use of FRP tanks in many other industries such as fertilizing, refining, water treatment, metal extraction, paper and wood pulp, food storage, etc.
Additionally, FRP tanks are becoming popular as storage units for potable water to keep the water clean and drinkable for long periods.
The global FRP tank market is segmented on the basis of fibre type, resin type, application, and region. Based on fibre type, the market has been segmented into glass fibre and carbon fibre. In 2021, the glass fibre FRP tank segment dominated the market in terms of value and volume, owing to the growing demand from applications such as water & wastewater, chemicals, oil & gas, and so on. Based on application, the market has been categorised into water & wastewater, pulp & paper, chemicals, oil & gas, power and others.
In 2021, the water & wastewater segment constituted a major portion of the FRP tank market, by value and volume. APAC region led the market in 2017 and is expected to maintain its dominance over the next five years as well owing to the rising disposable income of the population, increasing urbanization and growing industrialization in the region.
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Some of the leading players in the global FRP tank market
- ZCL Composites Inc
- Denali Incorporated
- Luxfer Holdings PLC
- Faber Industries SPA
- LF Manufacturing Inc.
- Hexagon Composite Engineering Sdn Bhd
- LF Manufacturing Inc.
- Enduro Composites Inc.
- EPP Composites Pvt. Ltd.
- Composite Technology Development Inc., etc.
| Attribute | Details |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue Forecast, Volume Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends |
| Segments covered | · By Fibre Type
· By Resin Type · By Application |
| Region scope | Asia Pacific; Europe & CIS; North America; South America; Middle East & Africa |
| Country scope | China, India, Japan, South Korea, Australia, Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar |
| Key companies profiled | ZCL Composites Inc., Denali Incorporated, Luxfer Holdings PLC, Faber Industries SPA, LF Manufacturing Inc., Hexagon Composite Engineering Sdn Bhd, LF Manufacturing Inc., Enduro Composites Inc., EPP Composites Pvt. Ltd., Composite Technology Development Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Report Scope:
In this report, the global FRP tank market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- FRP Tank Market, By Fibre Type:
- Glass Fibre
- Carbon Fibre
- FRP Tank Market, By Resin Type:
- Polyester Resin
- Epoxy Resin
- Others
- FRP Tank Market, By Application:
- Water & Waste Water
- Pulp & Paper
- Chemicals
- Oil & Gas
- Power
- Others
- FRP Tank Market, By Region:
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe & CIS
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
- Asia Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the FRP Tank Market.
