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Pulished Date February, 2020
ID: 8234
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FRP Tank Market by Resin Type (Epoxy & Polyester), Fiber Type (Glass and Carbon), Application (Oil and Gas, Chemical, Water & Waste Water Treatment, Pulp & Paper), and Region (Latin America, North America, Asia Pacific, Europe, Middle East and Africa) –Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2021–2026)

Pulished: February, 2020
ID: 8234
Pages: 180

FRP Tank Market was calculated to be 2.23 billion USD in 2021, and it is foreseen to grow at a CAGR of 4.7% during the outlook period of 2021 to 2026.

Drivers and Restraints of the Global FRP Tank Market

The sanitation (water and wastewater) industry is one of the biggest industries around the world. Many big players of sanitation and water activities are based in North America, Europe and Asia. They use storage tanks as the primary material for their warehouse. FRP tank is quickly replacing the traditional materials in many manufacturing and industrial sectors and thus this adoption is driving the FRP tanks market throughout the world. FRP tank provides a robust solution at a relatively cheap cost for the automotive industry and thus many of them are switching to this low-cost alternative. Alloys of Aluminium and glass fiber materials are also used for making various equipment in the manufacturing. Increasing usage of lightweight material in the power generation industry is also a driving factor for global FRP tanks market.

In Europe, the high demand for the FRP tanks is because of the growing water and wastewater applications. The increasing need for pure drinking water is playing a crucial role in the expansion of the global FRP tanks business.

Challenges in the FRP Tank Market

The stringent government norms are acting as major limitations to the global FRP tanks market. Also, the lack of awareness of the benefits of these tanks in several developing nations is also resulting in decreased revenue. Moreover, the concerns related to its impact on human body is further touted to impact this industry negatively in future.

Global FRP tank market has been segmented into the following categories:

On the basis of Resin Type

  1. Polyester
  2. Epoxy

On the basis of Fiber Reinforcement

  1. Glass Fiber
  2. Carbon Fiber

On the basis of Application

  1. Water and Wastewater
  2. Chemicals
  3. Oils & gas
  4. Pulp and Paper
  5. Power

The epoxy resin segment accounts for the major share of the market in 2019. The growth in this segment is because of the increasing use of epoxy resins in tanks as a result of the growing trade i.e., import and export of goods across the globe and increase in the bunkering facilities. These factors are also considered as the main reason to support the demand for FRP tanks during the forecast period.

The Water and wastewater industry also uses these tanks at a significant rate, making it the significant application segment around the world. The growing demand for treating wastewater in several developing nations is supposed to spike the growth in this segment in future.

Use of glass fiber has increased in the recent years as they provide excellent flexibility and are used in several mechanical and electrical industries. They offer superior strength and recyclability at a relatively low cost. In addition to this, the materials made from these fibers are also recyclable thus giving more opportunities for the industry to grow. The glass fiber segment accounted for the largest share of the market by the late 2019 and it is expected to see significant growth during the foreseen period of 2020 to 2025. The growth in this segment is due to its increasing bunkering facilities, and incessant demand for tanks on ships.

On the basis of Region

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East & Africa

The Asia Pacific is forecasted to be the fastest-growing market for FRP tanks in the next five years (2020 to 2025). The factor that has contributed to the growth in this area is the increasing urbanization and industrialization combined with the rising affluence of people. This has resulted in high demand of consumer goods and services that include the following: power, construction, processed foods, and water & wastewater treatment, which are the prominent applications of FRP tanks. Therefore, these growing application industries are likely to significantly boost the sales in the FRP tank market in the Asia Pacific region.

The second largest market is North America, where the advanced sanitation activities such as rock bed composites, and wetlands have increased, and this has caused a high demand for the FRP tanks.

Key Market Players:

  1. ZCL Composites

  2. Enduro Composites

  3. LF Manufacturing

  4. Denali Inc.

  5. EPP Composites

Impact of COVID-19 on the Global FRP tank Market

Coronavirus has had a morose impact on various production markets across Europe, North America, and Asia. It has negatively affected the sales in the FRP tanks market, owing to the strict lockdown conditions that resulted in the temporary closure of several manufacturing units and sales channels. The disruption in the supply chain resulted in delays or non-arrival of raw materials, disturbed financial flows, and declining morale among production line workers, which forced end-user industries to operate at reduced capacities. This has led to a reduction in demand for epoxy and glass fibers. The FRP tanks market is expected to recover from 2021 onwards. The FRP tanks witnessed a diminutive growth during this period as the market was primarily driven by the need for further storage.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Resin Type                  

                                5.1.1 Introduction           

                                5.1.2 Epoxy        

                                5.1.3 Polyester 

                                5.1.5 Y-o-Y Growth Analysis, By Resin Type         

                                5.1.6 Market Attractiveness Analysis, By Resin Type       

                                5.1.7 Market Share Analysis, By Resin Type         

                5.2 Fiber Type                   

                                5.2.1 Introduction           

                                5.2.2 Glass          

                                5.2.3 Carbon      

                                5.2.5 Y-o-Y Growth Analysis, By Fiber Type          

                                5.2.6 Market Attractiveness Analysis, By Fiber Type        

                                5.2.7 Market Share Analysis, By Fiber Type          

                5.3 Application                 

                                5.3.1 Introduction           

                                5.3.2 Oil & Gas  

                                5.3.3 Chemical  

                                5.3.4 Water & Waste Water Treatment 

                                5.3.5 Pulp & Paper          

                                5.3.7 Y-o-Y Growth Analysis, By Application         

                                5.3.8 Market Attractiveness Analysis, By Application       

                                5.3.9 Market Share Analysis, By Application        

                5.4 Applications                               

                                5.4.1 Introduction           

                                5.4.2 Wind Energy           

                                5.4.3 Aerospace & Defence        

                                5.4.4 Transportation      

                                5.4.7 Y-o-Y Growth Analysis, By Applications       

                                5.4.8 Market Attractiveness Analysis, By Applications     

                                5.4.9 Market Share Analysis, By Applications      

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Type

                                                6.1.3.4 By Application

                                                6.1.3.5 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Type

                                                6.1.4.4 By Application

                                                6.1.4.5 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Type

                                                6.1.5.4 By Application

                                                6.1.5.5 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 LF Manufacturing                     

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Denali Inc.                   

                8.3 Enduro Composites                

                8.4Composite Technology Development, Inc.                    

                8.5 ZCL Composites                        

                8.6 Hexagon Composites ASA                    

                8.8 Luxfer Group                             

                8.9 Faber Industries                       

                8.10 EPP Composites                     

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by application,by  region, along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

1.   Global FRP Tank MarketBy Region, From 2021-2026 ( USD Billion )

2.   Global FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

3.  Global Epoxy Market By Region, From 2021-2026 ( USD Billion )

4.            Global Polyester Market By Region, From 2021-2026 ( USD Billion )

5.            Global FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

6.            Global Glass Market By Region, From 2021-2026 ( USD Billion )

7.            Global Carbon Market By Region, From 2021-2026 ( USD Billion )

8.            Global FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

9.            Global Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

10.          Global Chemical Market By Region, From 2021-2026 ( USD Billion )

11.          Global Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

12.          Global Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

13.          North America FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

14.          North America Epoxy Market By Region, From 2021-2026 ( USD Billion )

15.          North America Polyester Market By Region, From 2021-2026 ( USD Billion )

16.          North America FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

17.          North America Glass Market By Region, From 2021-2026 ( USD Billion )

18.          North America Carbon Market By Region, From 2021-2026 ( USD Billion )

19.          North America FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

20.          North America Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

21.          North America Chemical Market By Region, From 2021-2026 ( USD Billion )

22.          North America Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

23.          North America Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

24.          United States FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

25.          United States FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

26.          United States FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

27.          Canada FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

28.          Canada FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

29.          Canada FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

30.          Europe FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

31.          Europe Epoxy Market By Region, From 2021-2026 ( USD Billion )

32.          Europe Polyester Market By Region, From 2021-2026 ( USD Billion )

33.          Europe FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

34.          Europe Glass Market By Region, From 2021-2026 ( USD Billion )

35.          Europe Carbon Market By Region, From 2021-2026 ( USD Billion )

36.          Europe FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

37.          Europe Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

38.          Europe Chemical Market By Region, From 2021-2026 ( USD Billion )

39.          Europe Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

40.          Europe Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

41.          U.K. FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

42.          U.K. FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

43.          U.K. FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

44.          Germany FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

45.          Germany FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

46.          Germany FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

47.          France FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

48.          France FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

49.          France FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

50.          Italy FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

51.          Italy FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

52.          Italy FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

53.          Spain FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

54.          Spain FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

55.          Spain FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

56.          Asia Pacific FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

57.          Asia Pacific Epoxy Market By Region, From 2021-2026 ( USD Billion )

58.          Asia Pacific Polyester Market By Region, From 2021-2026 ( USD Billion )

59.          Asia Pacific FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

60.          Asia Pacific Glass Market By Region, From 2021-2026 ( USD Billion )

61.          Asia Pacific Carbon Market By Region, From 2021-2026 ( USD Billion )

62.          Asia Pacific FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

63.          Asia Pacific Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

64.          Asia Pacific Chemical Market By Region, From 2021-2026 ( USD Billion )

65.          Asia Pacific Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

66.          Asia Pacific Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

67.          Japan FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

68.          Japan FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

69.          Japan FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

70.          China FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

71.          China FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

72.          China FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

73.          India FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

74.          India FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

75.          India FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

76.          Australia FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

77.          Australia FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

78.          Australia FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

79.          South Korea FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

80.          South Korea FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

81.          South Korea FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

82.          Latin America FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

83.          Latin America Epoxy Market By Region, From 2021-2026 ( USD Billion )

84.          Latin America Polyester Market By Region, From 2021-2026 ( USD Billion )

85.          Latin America FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

86.          Latin America Glass Market By Region, From 2021-2026 ( USD Billion )

87.          Latin America Carbon Market By Region, From 2021-2026 ( USD Billion )

88.          Latin America FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

89.          Latin America Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

90.          Latin America Chemical Market By Region, From 2021-2026 ( USD Billion )

91.          Latin America Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

92.          Latin America Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

93.          Brazil FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

94.          Brazil FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

95.          Brazil FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

96.          Argentina FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

97.          Argentina FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

98.          Argentina FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

99.          Mexico FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

100.        Mexico FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

101.        Mexico FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

102.        Rest of Latin America FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

103.        Rest of Latin America FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

104.        Rest of Latin America FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

105.        Middle East and Africa FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

106.        Middle East and Africa Epoxy Market By Region, From 2021-2026 ( USD Billion )

107.        Middle East and Africa Polyester Market By Region, From 2021-2026 ( USD Billion )

108.        Middle East and Africa FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

109.        Middle East and Africa Glass Market By Region, From 2021-2026 ( USD Billion )

110.        Middle East and Africa Carbon Market By Region, From 2021-2026 ( USD Billion )

111.        Middle East and Africa FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

112.        Middle East and Africa Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

113.        Middle East and Africa Chemical Market By Region, From 2021-2026 ( USD Billion )

114.        Middle East and Africa Water &Waste Water Treatment Market By Region, From 2021-2026 ( USD Billion )

115.        Middle East and Africa Pulp & Paper Market By Region, From 2021-2026 ( USD Billion )

116.        Middle East FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

117.        Middle East FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

118.        Middle East FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

119.        Africa FRP Tank MarketBy Resin Type, From 2021-2026 ( USD Billion )

120.        Africa FRP Tank MarketBy Fiber Type, From 2021-2026 ( USD Billion )

121.        Africa FRP Tank MarketBy Application, From 2021-2026 ( USD Billion )

 

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