FRP Tank Market to Achieve 4.73% CAGR During Forecast Period

FRP Tank Market by Resin Type (Polyester & Epoxy), Fiber Type (Carbon and Glass), Application (Water & Waste Water Treatment, Chemical, Oil and Gas, Pulp & Paper, and Power) - Global Trends &Forecasts to 2021 By MarketsandMarkets Published: Oct-2016 Single User : US $5650 Corporate User : US $8150

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FRP Tank Market: Global Forecasts to 2021 “FRP Tank market projected to register a CAGR of 4.73% during the forecast period” The market for FRP tank is projected to reach a market size of USD 2.32 billion by 2021, at a CAGR of 4.73% between 2016 and 2021. The major driver stimulating the FRP tank market is high demand for lightweight and superior properties of composites and the increasing demand for FRP tanks for heavy vehicles in North America and Europe. Lack of product awareness and issues related to high cost of composites are the major growth restraints for FRP tank market.

“Water & waste water is the fastest-growing application in the FRP tank market, in terms of value.”

Composite tanks offer lightweight and superior property solutions against highly corrosive fluids and harsh environment conditions at various temperatures, pressures, and adverse weather and soil conditions. These properties are some of the drivers boosting the growth of the FRP tank market. FRP tanks help to minimize corrosion and underground leakage unlike the metallic alloy tanks.

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FRP Tank Market: Global Forecasts to 2021 “Asia-Pacific is the fastest-growing market of FRP Tank.”

Asia-Pacific is expected to be the fastest-growing market for FRP tank in the next five years.

The main factor that contributed to its growth is the increasing urbanization and industrialization coupled with rising disposable income of the population. This has resulted in high demand for consumer goods and services such as power, construction, processed foods, and sanitation (water & waste water treatment), This study has been validated through primaries conducted with various industry experts, globally.

These primary sources have been divided into following three categories:  By company size- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%  By designation- C Level- 30%, Director Level- 25%, and Others- 45%  By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, the Middle East & Africa10%, and Latin America- 5%.

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FRP Tank Market: Global Forecasts to 2021 The report, as part of qualitative analysis, provides a comprehensive review of major market drivers, restraints, opportunities, and challenges of the market. It also discusses competitive strategies adopted by different market players, such as ZCL Composites (Canada), Enduro Composites (U.S.), LF Manufacturing (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), Faber Industries (Italy).

Complete report on FRP Tank Market spread across 144 pages, profiling 11 companies and supported with 72 tables and 51 figures is now available at http://www.rnrmarketresearch.com/frp-tank-market-by-resin-type-polyester-epoxy-fibertype-carbon-and-glass-application-water-waste-water-treatment-chemical-oil-and-gaspulp-paper-and-power-global-trends-forecasts-to-2021-market-report.html

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FRP Tank Market: Global Forecasts to 2021 Table of Contents: 1 Introduction

6 Macro Economic Overview and Key Trends

2 Research Methodology

7 FRP Tank Market, By Fiber Type

3 Executive Summary

8 FRP Tanks Market, By Resin Type

4 Premium Insights

9 FRP Tank Market, By Application

5 Market Overview Purchase a copy of this report : http://www.rnrmarketresearch.com/contacts/purchase?rname=719710

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FRP Tank Market: Global Forecasts to 2021 For more details contact Mr. Ritesh Tiwari: sales@rnrmarketresearch.com / +18883915441

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