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    Frp Tank Market | Covid-19 Impact Analysis

    Frp Tank Market | Covid-19 Impact Analysis

    Frp Tank Market | Covid-19 Impact Analysis
    Report code - SRAM286 Delivery - 2 Weeks
    FRP Tank Market Size, Share, Trend, Forecast, & Competitive Analysis.
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    Impact of COVID-19 on Frp Tank Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Frp Tank Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    FRP Tank Market Insights

    FRP Tank Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The mounting demand for lightweight composites and the rising call of FRP tanks for heavyweight vehicles, majorly in the regions of North America and Europe, are the major drivers that are driving the global FRP tank market.

    FRP Tank Market - Snapshot

    Growth

    6.2% for the next five years

    Major Fiber Type

    Glass fiber

    Major Resin Type

    Epoxy resin

    Dominant Application Type

    Water & waste water

    Region with the highest demand

    Asia-Pacific

    Key Players

    ZCL Composites, Inc., Luxfer Holdings PLC, Denali Incorporated, Enduro Composites Inc., Faber Industries SPA, EPP Composites Pvt. Ltd., Hexagon Composites ASA, LF Manufacturing Inc., Composite Technology Development Inc., and Hexagon Composite Engineering Sdn Bhd.

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    Market Share Analysis

    FRP Tank Market Share: By Fiber Type

    Based on the fiber type, the market is segmented as glass fiber composites and carbon fiber composites. The glass fiber composites segment accounts for the larger share of the market, in terms of both value and volume. The growth is attributed to the increasing claim in usage in sectors, such as oil & gas, chemicals, pulp & paper, and water & waste water.

    FRP Tank Market Share: By Resin Type

    Based on the resin type, the market is segmented as polyester resin, epoxy resin, and others. The epoxy resin segment is estimated to witness faster growth in the coming five years. The growth is owing to its prime characteristics such as excellent mechanical and thermal properties, confrontation to corrosive liquids, good functionality at elevated temperatures, remarkable electrical insulation, and exceptional adhesion strength to various diversities of reinforcements.

    FRP Tank Market Share: By Application Type

    Based on the application type, the market is segmented as water & waste water, chemicals, oil & gas, pulp & paper, power, and others. The water & waste water segment captured a sizeable slice of the market, by value and volume, in 2018. FRP tanks provide wide-ranging resolutions against extremely eroding fluids and severe environmental circumstances at different pressures, temperatures, and hostile weather and soil environments, which fuel their application majorly in the water & waste water segment.

    FRP Tank Market Share: By Region

    In terms of regions, Asia-Pacific is expected to be the fastest-growing market for FRP tanks in the coming five years. China and India are the growth engines of the region. The market is driven by rapid urbanization along with industrialization and the growing disposable income of the populace in the region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

    FRP Tank Market: Key Players

    Some of the major players in the FRP tank market are ZCL Composites, Inc., Luxfer Holdings PLC, Denali Incorporated, Enduro Composites Inc., Faber Industries SPA, EPP Composites Pvt. Ltd., Hexagon Composites ASA, LF Manufacturing Inc., Composite Technology Development Inc., and Hexagon Composite Engineering Sdn Bhd.

     

    Market Scope & segmentation

    FRP Tank is mainly a huge tank that is made up of FRP composites. Glass fiber composites, as well as carbon fiber composites, are used for the construction of FRP Tank.

    FRP Tank is used in a number of places for different purposes currently such as water and wastewater, oil & gas, chemicals, powder, pulp & paper, and many others.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    FRP Tank Market Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The FRP tank market is segmented into the following categories. 

    FRP Tank Market Size, Share & Forecast, by Fiber Type:

    • Glass Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Carbon Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    FRP Tank Market Size, Share & Forecast, by Resin Type:

    • Polyester Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Epoxy Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Resin Type Analysis: Polyethylene Resins, Phenolic Resins, and Vinyl Ester Resins)

    FRP Tank Market Size, Share & Forecast, by Application Type:

    • Water & Waste Water (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chemicals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pulp & Paper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Application Type Analysis: Transportation, Pharmaceutical, and Food Processing)

    FRP Tank Market Size, Share & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the resin types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    General Frequently Asked Questions (FAQs)

    What is FRP Tank?

    FRP Tank is mainly a huge tank that is made up of FRP composites. Glass fiber composites, as well as carbon fiber composites, are used for the construction of FRP Tank. FRP Tank is used in a number of places for different purposes currently such as water and wastewater, oil & gas, chemicals, powder, pulp & paper, and many others.

    What will be the CAGR of the FRP Tank Market?

    FRP Tank Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The mounting demand for lightweight composites and the rising call of FRP tanks for heavyweight vehicles, majorly in the regions of North America and Europe, are the major drivers that are driving the global FRP tank market.

    Which country/region is expected to remain the largest FRP Tank Market?

    In terms of regions, Asia-Pacific is expected to be the fastest-growing market for FRP tanks in the coming five years.

    Who are the key players in the FRP Tank Market?

    Some of the major players in the FRP tank market are ZCL Composites, Inc., Luxfer Holdings PLC, Denali Incorporated, Enduro Composites Inc., Faber Industries SPA, EPP Composites Pvt. Ltd., Hexagon Composites ASA, LF Manufacturing Inc., Composite Technology Development Inc., and Hexagon Composite Engineering Sdn Bhd.

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