FRP (Fiber-Reinforced Plastic) Vessels Market
FRP (Fiber-Reinforced Plastic) Vessels Market Size, Share and Industry Analysis Report By Fiber Type (Glass and Carbon); By Capacity (Small-Scale, Medium-Scale and Large-Scale); By Resin Type (Polyester, Epoxy and Others); By Application (Chemical Processing, Water and Wastewater Treatment, Oil and Gas, Pulp and Paper, Food and Beverage and Renewable Energy) - Forecast Year 2024 – 2031
Chemicals & Material // Fibers & Composites
The FRP
(Fiber-Reinforced Plastic) Vessels Market is experiencing significant growth
driven by the versatility, durability, and corrosion resistance of FRP
materials. These vessels have become indispensable in a wide range of
industries for storing and transporting various liquids, chemicals, and gases.
This report provides an in-depth analysis of the current state of the FRP
Vessels Market, its key growth drivers, challenges, and a forward-looking
perspective on its future.
FRP vessels, also
known as fiberglass-reinforced plastic vessels, represent a crucial component
of industrial infrastructure. Composed of a composite material consisting of
fiberglass and polymer resin, FRP vessels offer unique advantages, making them
the preferred choice for storage and transportation solutions.
Market Overview:
The FRP Vessels
Market is witnessing robust growth due to several key factors:
- Corrosion
Resistance: FRP vessels are highly resistant to corrosion, making them ideal
for storing and transporting a wide range of aggressive substances, including
acids, alkalis, and chemicals. Their corrosion-resistant properties
significantly extend their operational lifespan.
- Versatility Across
Industries: FRP vessels find applications across diverse industries, including
chemicals, water treatment, oil and gas, manufacturing, power generation, and
more. Their adaptability and customization options cater to a broad spectrum of
industrial needs.
- Lightweight and Easy
Handling: Compared to traditional metal alternatives, FRP vessels are
considerably lighter, simplifying transportation, installation, and reducing
structural support requirements.
- Environmental
Sustainability: FRP materials are environmentally friendly, as they are
non-corrosive and possess a longer life cycle. This minimizes the need for
frequent replacements, reducing waste and environmental impact.
Market Segmentation:
The FRP Vessels
Market can be segmented based on various criteria:
Application:
- Chemical Processing
- Water and Wastewater
Treatment
- Oil and Gas Storage
- Food and Beverage
Processing
- Renewable Energy
- Others
End-User Industry:
- Chemical Industry
- Municipal and
Industrial Water Treatment Plants
- Oil and Gas Sector
- Manufacturing
Facilities
- Power Generation
Plants
- Food and Beverage
Industry
- Others
Capacity:
- Small-Scale Vessels
- Medium-Scale Vessels
- Large-Scale Vessels
Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and
Africa
Challenges and Opportunities:
The FRP Vessels
Market faces challenges related to competition from alternative materials and
adherence to stringent quality standards. However, these challenges also
present opportunities for innovation, especially in the development of advanced
resins and manufacturing processes.
Competitive Landscape:
Key players in the
FRP Vessels Market include companies such as FRP Manufacturing (2010) Inc.,
Augusta Fiberglass, Owens Corning, and Denali Incorporated. Competition is
driven by factors such as product quality, customization capabilities, and
alignment with industry standards.
Dominating Companies in FRP Vessels Market
- HEXAGON COMPOSITES ASA
- LUXFER GROUP
- WORTHINGTON INDUSTRIES INC.
- EVEREST KANTO CYLINDERS LTD.
- QUANTUM FUEL SYSTEMS LLC
- FABER INDUSTRIE SPA
- AVANCO GROUP
- SHAWCOR LTD.
- LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES GROUP CO., LTD.
- NOV INC.
- ULLIT SA
- AGILITY FUEL SOLUTIONS
- AUGUSTA FIBERGLASS
- EPP COMPOSITES PVT. LTD.
- ENDURO COMPOSITES INC.
- JRMS ENGINEERING WORKS
- CEVOTEC GMBH
- NPROXX
- STEELHEAD COMPOSITES, INC.
- TIME TECHNOPLAST LTD.
- COMPOMEX
- DRAGERWERK AG & CO. KGAA
- SAUDI ARABIAN AMIANTIT CO
- KAYMO FIBER REINFORCED PLASTIC MANUFACTURE CO., LTD.
- AERON COMPOSITES PVT. LTD
- Owens Corning
- Denali Incorporated
- Chemtainer Industries
Future Outlook:
The FRP Vessels
Market is poised for sustained growth as industries continue to recognize the
advantages of FRP materials in terms of durability, corrosion resistance, and
environmental sustainability. Emerging applications in renewable energy and the
chemical sector are expected to further propel market expansion.
The FRP Vessels
Market is instrumental in facilitating the secure and efficient storage and
transportation of a wide range of substances critical to various industries.
This report provides valuable insights into the market's current state,
challenges, and future prospects, serving as a resource for decision-makers,
manufacturers, and industry stakeholders.
For comprehensive
market analysis, including market size, growth projections, and competitive
analysis, please refer to the complete report.
FRP Vessels Market - Get your Free sample copy of the Report
:::::::::::::::>
1.
Research Sources
We at Zettabyte Analytics have a
detailed and related research methodology focussed on estimating the market
size and forecasted value for the given market. Comprehensive research
objectives and scope were obtained through secondary research of the parent and
peer markets. The next step was to validate our research by various market
models and primary research. Both top-down and bottom-up approaches were
employed to estimate the market. In addition to all the research reports, data
triangulation is one of the procedures used to evaluate the market size of
segments and sub-segments.
Research Methodology
1.1. Secondary Research
The secondary research study involves various sources and databases used
to analyze and collect information for the market-oriented survey of a specific
market. We use multiple databases for our exhaustive secondary research, such
as Factiva, Dun & Bradstreet, Bloomberg, Research article, Annual reports,
Press Release, and SEC filings of significant companies. Apart from this, a
dedicated set of teams continuously extracts data of key industry players and
makes an extensive and unique segmentation related to the latest market
development.
1.2. Primary Research
The primary research includes gathering data from specific domain
experts through a detailed questionnaire, emails, telephonic interviews, and
web-based surveys. The primary interviewees for this study include an expert
from the demand and supply side, such as CEOs, VPs, directors, sales heads, and
marketing managers of tire 1,2, and 3 companies across the globe.
1.3. Data Triangulation
The data triangulation is very important for any market study, thus we
at Zettabyte Analytics focus on at least three sources to ensure a high level
of accuracy. The data is triangulated by studying various factors and trends
from both supply and demand side. All the reports published and stored in our
repository follows a detailed process to obtain a reliable insight for our
clients.
1.4. In-House Verification
To validate the segmentation
and verify the data collected, our market expert ensures whether our research
analyst is considering fine distinction before analyzing the market.
1.5. Reporting
In the end,
presenting our research reports complied in a different format for straightforward
valuation such as ppt, pdf, and excel data pack is done.
+1 716 953 3077
sales@zettabyteanalytics.com
109 S Warren St, Syracuse, NY 13202, United States