- Polyester
- Epoxy
- Vinyl Ester
- Others
Frp Tank Market size was valued at USD 2,221.3 million in 2023 and is poised to grow at a significant CAGR of 4.7% from 2024-2030. Fiber-reinforced plastic (FRP) is a composite material 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 because 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 contaminated in the environment. The Polyester Resins market is estimated to be valued at USD 1,289.2 Million in 2022 and poised to grow at a significant CAGR of 4.5% over 2023-2029, to reach USD 1,653.0 Million by 2029. 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 & wastewater hold the market revenue share of 26.1% and it is estimated to grow with a CAGR 5.2% from 2023-2029.
Global Frp Tank Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.7%
Largest Market
Asia Pacific
Fastest Growing Market
North America
FRP Tank Market Dynamics
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 Regional Analysis
The FRP tank market 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 industrialization, 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
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Global Frp Tank Market Segmentation
By Material Type
By Fiber Reinforcement
- Glass Fibre
- Carbon Fibre
By End User Industry
- Water and Wastewater Treatment
- Chemicals
- Oil & Gas
- Pulp & Paper
- Power
- Others
Frequently Asked Questions
The FRP tank market size was valued at USD 2,221.3 million in 2023
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.
The FRP tank market key players are: 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)
| 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, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Polyester |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Glass Fibre |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 |
| 7.1. Water and Wastewater Treatment |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2019 - 2023 and Forecast, 2024 - 2030 (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, 2024 - 2030 |
| 9. North America FRP Tanks Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. By Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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, 2024 - 2030 |
| 9.6. North America FRP Tanks Market Dynamics – Trends |
| 10. Europe FRP Tanks Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. By Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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, 2024 - 2030 |
| 10.6. Europe FRP Tanks Market Dynamics – Trends |
| 11. Asia-Pacific FRP Tanks Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. By Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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, 2024 - 2030 |
| 11.6. Asia-Pacific FRP Tanks Market Dynamics – Trends |
| 12. Latin America FRP Tanks Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. By Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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, 2024 - 2030 |
| 12.6. Latin America FRP Tanks Market Dynamics – Trends |
| 13. Middle East and Africa FRP Tanks Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. By Material Type Analysis 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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 2019 - 2023 and Forecast 2024 - 2030 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, 2024 - 2030 |
| 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 |
- 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)