FRP Vessels Market Growth, Forecast, Overview and Key Companies Analysis by 2028

The global FRP vessels market is projected to be valued at USD 5,538.8 Million by 2027, according to a current analysis by Emergen Research. FRP (fiber-reinforced plastic) vessels are witnessing increasing demand from the automotive industry. FRP vessels are used for fuel storage in passenger cars and commercial vehicles. These vessels are constructed in one piece, without any welded seams, which helps in decreasing splitting in the event of a crash. Besides, FRP composites do not corrode, which increases durability of FRP vessels. Furthermore, increasing demand for natural gas vehicles (NGVs) worldwide is significantly driving the demand for FRP vessels in the automotive sector.

FRP vessels, unlike steel vessels, do not rust on exposure to harsh chemicals and weather. Also, they are impact resistant and non-conductive. FRP vessels are extremely lighter in weight compared to steel, which allows for their easy installation. It also results in reduced cost and time. Also, FRP vessels possess higher compression, shear, and tensile strength.

The latest report provides detailed insights into FRP Vessels market trends, industry trends, consumer trends, market size, market share, market growth, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the FRP Vessels market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.

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Global FRP Vessels market growth is driven by a variety of factors and trends, primary of which include rising focus by major companies on product/service expansion into new and untapped domestic FRP Vessels markets, rising investments in strategic agreements, and rising competition in the market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is a major trend in an increasing number of developing economies. In addition, availability of favorable government policies and steady economic growth across various regions and countries is resulting in an increasing number of players focusing on leveraging opportunities to drive visibility and increase revenue and profits.

Top key vendors in FRP Vessels Market include are:

Faber Industries SPA,

National Oilwell Varco,

Luxfer Holdings PLC,

Shawcor,

Everest Canto Cylinder Ltd.,

Agility Fuel Solutions LLC,

JRMS Engineering Works,

ULLIT SA,

Hexagon Composites ASA, and

Worthington Industries Inc.

On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including

Fiber Type Outlook (Revenue, USD Billion; 2017–2027)

Carbon
Glass
Aramid
Others

Resin Outlook (Revenue, USD Billion; 2017–2027)

Polyester
Epoxy
Polyurethane
Others

Distribution Channel Outlook (Revenue, USD Billion; 2017–2027)

Online
Offline

Industry Vertical Outlook (Revenue, USD Billion; 2017–2027)

Automotive Transportation
Chemicals
Oil Gas
Water Wastewater
Others

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Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “FRP Vessels Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2020 - 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.

Region wise performance of the FRP Vessels industry

North America FRP Vessels market growth registered a significant incline in 2020 and this is having major impact on market growth of other major regions. In addition, North America FRP Vessels market growth is expected to continue to remain dominant over other regional markets over the forecast period. Presence of major players in countries in the region is a key factor driving steady change in overall FRP Vessels market trends, and this is expected to continue to support market growth in North America.

Asia Pacific FRP Vessels market growth is expected to register a rapid rate in terms of revenue as compared to other regional markets over the forecast period. China, India, and South Korea accounted for significantly robust FRP Vessels market growth in 2020, and the trend is expected to continue over the forecast period. Factors such as increasing population, favorable government policies and initiatives, and availability of more advanced technologies, services, and offerings in these countries is driving FRP Vessels market growth in Asia Pacific.

Europe FRP Vessels market growth and revenue expansion is expected to remain steady over the forecast period. This can be attributed to robust focus on research and development initiatives by major firms and changing FRP Vessels market trends in countries in other major regions.

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

United States
Europe
China
Japan
Southeast Asia
India

We can also provide the customized separate regional or country-level reports, for the following regions:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa

We can customize our reports for our customers, for instance, we can add or remove manufacturers, applications or product types, whatever you need in the report. Ask for it by contacting us@ https://www.emergenresearch.com/request-for-customization/430

The research provides answers to the following key questions:

What will be the growth rate and the market size of the FRP Vessels industry for the forecast period 2020-2027?
What are the major driving forces expected to impact the development of the FRP Vessels market across different regions?
Who are the major driving forces expected to decide the fate of the FRP Vessels industry worldwide?
Who are the prominent market players making a mark in the FRP Vessels market with their winning strategies?
Which FRP Vessels industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
What are the key barriers and threats believed to hinder the development of the industry?
What are the future opportunities in the FRP Vessels market?

Table of Content

Chapter 1. Methodology Sources

1.1. FRP Vessels Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. FRP Vessels Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2021-2028