According to the recent study the FRP tank market is projected to reach an estimated $4.0billion by 2030 from $2.9 billion in 2023, at a CAGR of 3.0% from 2023 to 2030. Growth in this market is primarily driven by growing demand for oil and gas storage systems, and expansion of chemical plants, rapid urbanization and infrastructure development in developing countries.
Browse 109 figures / charts and 75 tables in this 192 -page report to understand trends, opportunities and forecast in FRP tank market by application (water/wastewater, septic, pulp and paper, chemical, petroleum, agriculture, aquaculture, and others), resin type (polyester composites, vinyl ester composites and other), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that water/wastewater will remain the largest market by value and volume over the forecast period due to infrastructural development.
Polyester composites FRP tank will remain the largest segment over the forecast period due to its increasing use in various end use industry.
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Asia Pacific is expected to remain the largest region over the forecast period 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.
Hengrun Group Co., Ltd., ZCL Composites Inc. (Shwacor Ltd.), Containment Solutions, Orenco Systems Inc., Belco Manufacturing Co. Inc., L.F. Manufacturing, Inc., Zurn Green Turtle, Hydro Dynamic Engineering Pte Ltd, Induro International, Hao Hua Zhongyi GFRP Co. Ltd, Fabricated Plastic Limited, and Amiantit, Diamond Fiberglass are the major suppliers in the FRP tank market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
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