Global FRP Tank Market : Global Market Estimation, Dynamics, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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FRP Tanks Market By Resin Type (Polyester Resins, Epoxy Resins, Vinyl Resins and Others), By Fiber Type (Glass Fibers, Carbon Fibers and Aramid Fibers), By Application (Water & waste water, Chemicals, Oil & gas, Pulp & paper, Power, Agriculture/Aquaculture and Septic) and Geography

 

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Report

Description

FRP Tanks market is estimated to be valued USD 2,221.3 million in 2021 and poised to grow at significant CAGR of 4.7% over 2022-2028, to reach USD 2,883.8 million by 2028. Fiber-reinforced plastic (FRP) is a composite material made composed of polymers that are strengthened with fibers. It’s often utilized in industries like aerospace, construction, and marine to develop structures that need more force resistance to avoid deformation. It is possible to make fiberglass tanks totally “watertight.” This is due to the fact that FRP tank manufacturers may design fiberglass tanks without any connections through which liquid materials could leak. Fiberglass tanks can provide a completely secure storage solution. This means that items stored in fiberglass tanks are less likely to get polluted while inside the tank, and are also less likely to seep out and become a contamination in the environment. Polyester Resins market is estimated to be valued USD 1,289.2 Million in 2021 and poised to grow at significant CAGR of 4.5% over 2022-2027, to reach USD 1,653.0 Million by 2027. Polyester Resins are thermoset polyesters.  They’re adaptable, have good dimensional stability, and have excellent mechanical, chemical, and electrical properties. The need for the market is being driven by the expanding urban population and the expansion of the composite industry. By application segment, water & waste water hold the market revenue share 26.1% and it is estimated to grow with a CAGR 5.2% from 2022-2027.

 

FRP Tank Market

MARKET SUMMARY
-
4.7%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 4.7%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

FRP Tank Market

  • The global FRP tank market report gives comprehensive outlook on FRP tank across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The report on global FRP tank market gives historical growth, current trends and future market sizes (US$ Mn) on the basis of resin type, fiber type, application and geography.
  • Key stakeholders of the global FRP tank market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global FRP tank products.
Market Key Players
  • ZCL Composites (Canada)
  • Enduro Composites (U.S.)
  • LF Manufacturing (U.S.)
  • Edwards Fiberglass (U.S)
  • Denali Inc. (U.S.)
  • EPP Composites (India)
  • Luxfer Group (U.K.)
Growth

FRP Tank Market

Increased usage of FRP tanks in heavy vehicles, replacing traditional materials in various manufacturing and industrial sectors, sturdy solution at a low cost for the automotive industry, growing need for pure drinking water, oil and gas storage systems, and chemical plant expansion are some factors fostering the market growth. However, high costs of the products and lack of awareness are hindering the market growth. 


Asia-Pacific Got Significant Share

FRP Tank Market

The FRP tanksmarket in Asia Pacific is expected to hold the highest share of 42.8% in 2021 and it is expected to grow with a significant rate in the coming years is due to the increasing urbanization and industrialisation, as well as the population's disposable income. As a result, consumer goods and services such as power, construction, processed foods, and sanitation, which are all applications for FRP tanks, are in high demand. As a result, these burgeoning application industries will have a considerable impact on the region's market.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The FRP tanks market report provides granular level information about market size, regional market share, historic market (2016-2021) and forecast (2022-2027).
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
  • The report provides plethora of information about market entry strategies
FRP Tank Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content

1. Executive Summary
2. Global FRP Tanks Market Introduction
2.1. Global FRP Tanks Market – Taxonomy
2.2. Global FRP Tanks Market –Definitions
2.2.1. Material Type
2.2.2. Fiber Reinforcement
2.2.3. End User Industry
3. Global FRP Tanks Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global FRP Tanks Market Dynamic Factors – Impact Analysis
3.6. Global FRP Tanks Market – Competition Landscape
4. Global FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global FRP Tanks Market, By Material Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Polyester
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Epoxy
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Vinyl Ester
5.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others
5.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global FRP Tanks Market Forecast, By Fiber Reinforcement, 2017-2021 and Forecast, 2022-2028
6.1. Glass Fibre
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Carbon Fibre
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global FRP Tanks Market Forecast, By End User Industry, 2017-2021 and Forecast, 2022-2028
7.1. Water and Wastewater Treatment
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Chemicals
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Oil & Gas
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Pulp & Paper
7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Power
7.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Others
7.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
8. Global FRP Tanks Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Region, 2022-2028
9. North America FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. By Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Polyester
9.1.2. Epoxy
9.1.3. Vinyl Ester
9.1.4. Others
9.2. Fiber Reinforcement Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.2.1. Glass Fibre
9.2.2. Carbon Fibre
9.3. End User Industry Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Water and Wastewater Treatment
9.3.2. Chemicals
9.3.3. Oil & Gas
9.3.4. Pulp & Paper
9.3.5. Power
9.3.6. Others
9.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Country, 2022-2028
9.6. North America FRP Tanks Market Dynamics – Trends
10. Europe FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. By Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Polyester
10.1.2. Epoxy
10.1.3. Vinyl Ester
10.1.4. Others
10.2. Fiber Reinforcement Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Glass Fibre
10.2.2. Carbon Fibre
10.3. End User Industry Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Water and Wastewater Treatment
10.3.2. Chemicals
10.3.3. Oil & Gas
10.3.4. Pulp & Paper
10.3.5. Power
10.3.6. Others
10.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Poland
10.4.8. Rest of Europe
10.5. Europe FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Country, 2022-2028
10.6. Europe FRP Tanks Market Dynamics – Trends
11. Asia-Pacific FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. By Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Polyester
11.1.2. Epoxy
11.1.3. Vinyl Ester
11.1.4. Others
11.2. Fiber Reinforcement Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Glass Fibre
11.2.2. Carbon Fibre
11.3. End User Industry Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Water and Wastewater Treatment
11.3.2. Chemicals
11.3.3. Oil & Gas
11.3.4. Pulp & Paper
11.3.5. Power
11.3.6. Others
11.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. Japan
11.4.2. China
11.4.3. India
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Country, 2022-2028
11.6. Asia-Pacific FRP Tanks Market Dynamics – Trends
12. Latin America FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. By Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Polyester
12.1.2. Epoxy
12.1.3. Vinyl Ester
12.1.4. Others
12.2. Fiber Reinforcement Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Glass Fibre
12.2.2. Carbon Fibre
12.3. End User Industry Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Water and Wastewater Treatment
12.3.2. Chemicals
12.3.3. Oil & Gas
12.3.4. Pulp & Paper
12.3.5. Power
12.3.6. Others
12.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Country, 2022-2028
12.6. Latin America FRP Tanks Market Dynamics – Trends
13. Middle East and Africa FRP Tanks Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. By Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Polyester
13.1.2. Epoxy
13.1.3. Vinyl Ester
13.1.4. Others
13.2. Fiber Reinforcement Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. Glass Fibre
13.2.2. Carbon Fibre
13.3. End User Industry Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Water and Wastewater Treatment
13.3.2. Chemicals
13.3.3. Oil & Gas
13.3.4. Pulp & Paper
13.3.5. Power
13.3.6. Others
13.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. Israel
13.4.3. South Africa
13.4.4. Rest of MEA
13.5. MEA FRP Tanks Market – Opportunity Analysis Index, By Material Type, Fiber Reinforcement, End User Industry, and Country, 2022-2028
13.6. MEA FRP Tanks Market Dynamics – Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Fiber Reinforcement & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. ZCL Composites (Canada)
14.2.2. Enduro Composites (USA)
14.2.3. LF Manufacturing (USA)
14.2.4. BSF FRP INDUSTRIES (India)
14.2.5. Edwards Fiberglass (USA)
14.2.6. Denali Inc. (USA)
14.2.7. EPP Composites (India)
14.2.8. Hexagon Composite Engineering Sdn Bhd (Malaysia)
14.2.9. Composite Type of Fibre Reinforcement Development, Inc. (USA)
14.2.10. Luxfer Group (UK)
14.2.11. Hexagon Composites ASA (Norway)
14.2.12. Pentair (USA)
15. Research Methodology
16. Key Assumptions and Acronyms

Report

Company Profile

Competition Assessment

  • ZCL Composites (Canada)
  • Enduro Composites (U.S.)
  • LF Manufacturing (U.S.)
  • BSF FRP INDUSTRIES (India)
  • Edwards Fiberglass (U.S)
  • Denali Inc. (U.S.)
  • EPP Composites (India)
  • Hexagon Composite Engineering Sdn Bhd (Malaysia)
  • Composite Technology Development, Inc. (U.S.)
  • Luxfer Group (U.K.)
  • Hexagon Composites ASA (Norway)

Description

FRP Tanks market is estimated to be valued USD 2,221.3 million in 2021 and poised to grow at significant CAGR of 4.7% over 2022-2028, to reach USD 2,883.8 million by 2028. Fiber-reinforced plastic (FRP) is a composite material made composed of polymers that are strengthened with fibers. It’s often utilized in industries like aerospace, construction, and marine to develop structures that need more force resistance to avoid deformation. It is possible to make fiberglass tanks totally “watertight.” This is due to the fact that FRP tank manufacturers may design fiberglass tanks without any connections through which liquid materials could leak. Fiberglass tanks can provide a completely secure storage solution. This means that items stored in fiberglass tanks are less likely to get polluted while inside the tank, and are also less likely to seep out and become a contamination in the environment. Polyester Resins market is estimated to be valued USD 1,289.2 Million in 2021 and poised to grow at significant CAGR of 4.5% over 2022-2027, to reach USD 1,653.0 Million by 2027. Polyester Resins are thermoset polyesters.  They’re adaptable, have good dimensional stability, and have excellent mechanical, chemical, and electrical properties. The need for the market is being driven by the expanding urban population and the expansion of the composite industry. By application segment, water & waste water hold the market revenue share 26.1% and it is estimated to grow with a CAGR 5.2% from 2022-2027.

 

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