Global FRP Tank Market
Global FRP Tank Market Report Description:
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, current, and future market sizes (US$ Mn) on the basis of material, Type of Fibre Reinforcement, Application, End User and region. This report studies global FRP tank market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global FRP tank market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analysed global 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 global FRP tank market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global FRP tank products.
Global FRP Tank Market:
The global FRP tank market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025 due to increase in waste water treatment plants, chemical industries, oil and gas industries. FRP tanks are tanks or vessels made up of fiberglass-reinforced plastics which is a modern composite material. This material is highly corrosive resistant and leak proof. Moreover, there are many more advantages of these tanks like light weight, high physical strength, easy maintenance and less down time with good insulating qualities and they have wide range of applications in different industries for storage of chemicals or any other corrosive material, these are the major factors that are driving the growth of the global Market over the forecast timeframe.
Increase in water treatment plants and chemical industries.
Increase in the water treatment plants and chemical industries are key factors drive the global FRP tank market. Due to the increased awareness regarding water pollution and water management around the world many projects related to this have started by the governments of various countries and using FRP tanks to store waste water. Moreover, the wide applications of these tanks in various industries like chemical industry, oil and gas industry power plants, paper and pulp industry are anticipated to propel the global FRP tank market over the forecast years.
Asia Pacific Accounts for Larger Market Revenue Share in Global FRP Tank Market
Asia Pacific accounted for larger revenue share in global FRP tank market with significant CAGR, because of high demand of lightweight and non-corrosive storage tanks from the chemical, power, and water & waste water treatment industries and Increasing demand for energy, demand from retail fuel stations, increasing number of desalination plants, looming freshwater shortage, conservation of rainwater, and growing replacement of old existing tanks. North America FRP tank market projected to grow at significant rate owing to increase in chemical Industries are expected to enhance the market
- 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)
Key Findings of the Report:
- Global FRP tank market expanding at significant CAGR over 2019 to 2025 owing to increase in the waste water treatment projects.
- Based on application, water and waste water segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of newer forms of products and collaboration strategies to retain market position in global FRP tank market.
Based on material
- Vinyl ester
Based on Type of Fibre Reinforcement
- Glass fibre
- Carbon fibre
- Water & waste water
- Oil & gas
- Pulp & paper
By End User
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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 start up’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.