US FRP Tank Market Report Description:
US FRP tank market report gives comprehensive outlook on FRP tank across the U.S. The report on US FRP tank market gives historical, current, and future market sizes (US$ Mn) on the basis of resin type, fiber type, and application. This report studies US FRP tank market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, US FRP tank market report includes regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed US FRP tank market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the US FRP tank market report include suppliers, manufacturers, and marketers engaged in US FRP tank products.
US FRP Tank Market:
The US FRP tank market estimated to be valued US$ 315.0 Mn in 2018 and poised to grow at significant CAGR over 2019-2025 due to increase in the use of FRP tanks in heavy vehicles in U.S. Moreover, increase in demand from water and waste water treatments, wide applications of FRP tanks in areas like sewage, offshore, chemical, oil and gas, and retail fuel, and technological improvements in the FRP tanks are the major factors that are driving the growth of the FRP tank market in the U.S. region.
Increase in Use of FRP Tanks in Heavy Vehicles in U.S.
Increase in use of FRP tanks in heavy vehicles in U.S is a key factor propel the FRP tanks market over the forecast years. FRP composite are widely replacing the old age iron, steel or other metal formed tanks are taking the properties to another level such as low cost, long life and no corrosion. Government rules and regulations for water preservation and encouragement of rain water harvest are boosting the demand for FRP tank, especially in the US. Moreover, Rising demand for lightweight and superior properties of composites and increasing demand of FRP tanks for heavy vehicles in North America are responsible for the market growth. Light weighting is a key strategy to increase transportation energy efficiency and fuel economy while continuing to meet safety standards.
Key player’s profiles in the US FRP tank market include:
- ZCL Composites
- Luxfer Group
- Belco Manufacturing, Inc.
- LF Manufacturing
- Plasticon Composites
- Augusta Fiberglass Coatings
- EPP Composites
- Composite Technology Development, Inc.
- Granby Industries
- Plas Tanks Industries, Inc.
- Hexagon Composite Engineering Sdn Bhd
Global farm management market is surging owing to acquisitions, collaborations, product approvals, and launchings by the market players. For instance, In January 2017, Granby Industries acquired Vilco and Superior Tanks. The acquisition of two companies is a further testament to Granby Industries’ commitment to the oil storage industry.
Key Findings of the Report:
- US FRP tank market expanding at significant CAGR over 2019 to 2025 owing to increase in the launch of newer products into market
- Based on resin type, polyester resins accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in US FRP tank market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- 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 startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Resin Type
- Polyester Resins
- Epoxy Resins
- Vinyl Resins
By Fiber Type
- Glass Fibers
- Carbon Fibers
- Aramid Fibers
- Water and Waste Water
- Oil and Gas
- Pulp and Paper