DUBLIN, May 24, 2022--(BUSINESS WIRE)--The "FRP Tank Market: Market Size, Trends and Growth Analysis" report has been added to ResearchAndMarkets.com's offering.
The future of the FRP (Fiber Reinforced Plastic) tank market looks promising with opportunities in water/wastewater, septic, pulp and paper, chemical, petroleum, and agriculture/aquaculture applications.
The global FRP tank market declined in 2020 due to the global economic recession led by COVID-19. However, the market witnessed recovery in the year 2021, and it is expected to reach an estimated $3.3 million by 2026 with a CAGR of 4.8% from 2021 to 2026.
The major growth drivers for this market are growing demand for oil and gas storage systems, and expansion of chemical plants, rapid urbanization and infrastructure development in developing countries.
Emerging trends, which have a direct impact on the dynamics of the FRP tank industry, includes dual purpose application FRP tanks, heating oil tanks, and multi compartment tanks.
The study includes trends and forecasts for the global FRP market by end use industry, product, and region as follows:
By Application [Value $M and Volume (M lbs) shipment analysis from 2015 to 2026]:
By Resin Type [Value $M and Volume (M lbs) shipment analysis from 2015 to 2026]:
Vinyl Ester Composites and Others
By Region [Value $M and Volume (M lbs) shipment analysis from 2015 to 2026]:
In this market, polyester composites and vinyl ester composites are the resins used in the global FRP tank market. Polyester composites are expected to remain the largest market by value and volume, mainly driven by its increasing use in various end use industry.
Within the global FRP tank market, petroleum will remain the largest application by value and volume due to increasing number of retail fuel stations and also due to various properties like heat resistance, chemical resistance, fire resistance, corrosion resistance and it is also expected to witness highest growth over the forecast period.
Asia Pacific (APAC) is expected to remain the largest region by value and volume due to increasing energy demand, demand from retail fuel stations, increasing number of desalination plants, looming fresh water shortage, conservation of rainwater, and gaining momentum in replacing old existing tanks. Europe is expected to witness the highest growth over the forecast period.
Some of the global FRP tank manufacturers profiled in this report include Hengrun, ZCL Composites, Containment Solutions, Orenco Systems, and Belco Manufacturing.
Features of the Global FRP Tank Market
Market Size Estimates: Global FRP tank market size estimation in terms of value ($M) shipment and volume (M lbs).
Trend and Forecast Analysis: Global FRP tank market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
Segmentation Analysis: Global FRP tank market size by various segments, such as application, resin type, and regions in terms of value and volume.
Regional Analysis: Global FRP tank market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis on growth opportunities in different application, resin type, and regions for the global FRP tank market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global FRP tank market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
3. Market Trends and Forecast Analysis from 2015 to 2026
3.2: Global FRP Tank Market Trends and Forecast
3.3: Global FRP Tank Market by Application
3.4: Global FRP Tank Market by Resin
4. Market Trends and Forecast Analysis from 2015 to 2026
4.1: Global FRP Tank Market by Region
4.2: North America FRP Tank Market Trends and Forecast
4.3: European FRP Tank Market Trends and Forecast
4.4: APAC FRP Tank Market Trends and Forecast
4.5: ROW FRP Tank Market Trends and Forecast
5.4: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.2: Emerging Trend in the Global FRP Tank Market
6.3.1: Capacity Expansion of the Global FRP Tank Market
6.3.2: Mergers, Acquisitions and Joint Ventures in the Global FRP Tank Market
ZCL Composites Inc (Shwacor Ltd.)
Hydro Dynamic Engineering Pte Ltd
Hao Hua Zhongyi GFRP Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/dwa77z
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