Global FRP Tank Market Opportunities, Growth and Forecast Report 2025

Posted by rekha on August 28th, 2019

Precision Business Insights (PBI) in its report titled “Global FRP Tank Market": Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The global FRP tank market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to surge in the incidence of waste water treatment plants, chemical industries, oil and gas industries are expected to drive the global FRP tank market. However, Lack of awareness regarding the product and high cost of composites are anticipated to hinder the revenue share of global FRP tank market.

Global FRP tank market segmented on the basis of type of material, Type of Fibre Reinforcement, application, end user, and region.

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Epoxy resins dominates the Global FRP Tank Market


Based on the type of material, global FRP tank market segmented into polyester, epoxy, vinyl ester, and others. Epoxy resins dominated the global FRP tank market in 2017 and 2018 and estimated to dominate over the forecast period owing to its advantages over other material such as various thermal and mechanical properties, like resistance to corrosive liquids, excellent electrical insulation, good performance at elevated temperature, lower styrene emission compared to polyester resins, and good adhesion strength to the different varieties of reinforcements, surge the market over the forecast years. However, a slow growth rate observed for the polyester material due to their less usage and limited range of application.

Asia Pacific Leads the Global FRP Tank Market


PBI’s global FRP tank market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia Pacific accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to 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.


Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players


Global FRP tank market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.

Key player’s profiles in the report are

  • ZCL Composites (Canada)
  • Enduro Composites (U.S.)
  • LF Manufacturing (U.S.)
  • 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)

Detailed Segmentation


 Based on material

  • Polyester
  • Epoxy
  • Vinyl ester
  • Others

Based on Type of Fibre Reinforcement

  • Glass fibre
  • Carbon fibre

 By Application

  • Water & waste water
  • Chemicals
  • Oil & gas
  • Pulp & paper
  • Power
  • Others

By End User

  • Aerospace,
  • Construction,
  • Transportation,
  • Others




  • North America
  • U.S
  • Canada
  • Europe
  • Germany
  • France
  • U.K
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America
  • Middle East and Africa (MEA)
  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

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