Market Overview:
The global FRP vessels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for lightweight and corrosion-resistant vessels across different applications. Additionally, the growing awareness about the benefits of using FRP vessels is also contributing to the growth of this market. The global FRP vessels market can be segmented on the basis of type, application, and region. On the basis of type, glass fiber-based FRP vessels are expected to account for a major share in terms of revenue in 2018 owing to their high strength-to-weight ratio and corrosion resistance properties as compared with other types of fiberglass composites such as carbon fiber and aramid fibers. Carbon fiber-based FRP vessel are expected to witness highest growth during the forecast period due its superior mechanical properties over other types such as glass fiber or polypropylene (PP). On the basis on application, automotive & transportation sector is estimated hold largest share followed by water & wastewater treatment sector in 2018 . However , oil & gas industry would witness highest CAGR over next 10 years owing ot rapid industrialization annd upgradation projects globally .
Product Definition:
FRP vessels are fiberglass reinforced plastic vessels. They are important because they are very strong and durable. They do not corrode and they can hold up under a lot of stress.
Glass Fiber:
Glass fiber is a type of fiber that is made from silica and has high tensile strength. It can be used in various applications such as FRP ( Fiber-Reinforced Plastic) vessels, pipes & tanks, etc. The demand for glass fibers in the marine industry has increased over the past few years owing to its increasing application scope and rising demand for lightweight materials.
Carbon Fiber:
Carbon fiber is a material made from carbon atoms that are bonded together in crystals aligned parallel to the fiber. It has superior properties such as high tensile strength, low thermal expansion, high temperature tolerance and good electrical conductivity. The primary applications of carbon fibers are in composites but it is also used as an additive for other materials to improve their mechanical or chemical properties.
Application Insights:
The automotive & transportation application segment led the global market in 2017 and is projected to continue its dominance over the forecast period. The segment will expand at a CAGR of XX% from 2018 to 2030 owing to rising demand for passenger cars and light commercial vehicles across various regions, including Asia Pacific, North America, and Europe. In addition, high growth in this industry is further expected to propel product demand during the forecast period.
The water & wastewater treatment application segment accounted for 21% of the overall revenue share in 2017 due largely to increasing population coupled with rapid urbanization has resulted in an increased need for developing advanced wastewater treatment technologies globally which are likely drive product demand over next eight years or so.
Regional Analysis:
North America dominated the global market in terms of revenue in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing use of these vessels for transportation and chemical processing applications. In addition, growing oil & gas industry in this region is anticipated to drive demand for production equipment, which will further propel growth.
The Asia Pacific regional market captured a significant share owing to rising construction activities and rapid industrialization across emerging economies such as China and India. Moreover, favorable government regulations aimed at promoting investments from foreign players are likely to contribute toward increased adoption of FRP vessels over the forecast period.
Europe also accounted for a considerable share due with high demand from end-use industries such as water & wastewater treatment and oil & gas exploration drilling services on account of their geographical proximity with countries such as U.K., Germany, Italy etc.
Growth Factors:
- Increasing demand for lightweight and fuel-efficient vessels from the shipping industry
- Growing popularity of FRP vessels in the recreational boating sector
- Rising investment in new vessel construction projects worldwide
- Proliferation of advanced manufacturing technologies for FRP vessels
- Growing awareness about the benefits of using FRP vessels among end-users
Scope Of The Report
Report Attributes
Report Details
Report Title
FRP Vessels Market Research Report
By Type
Glass Fiber, Carbon Fiber, Others
By Application
Automotive & Transportation, Water & Wastewater, Chemicals, Oil & Gas, Industrial, Others
By Companies
Sainath Industrial Corporation (SIC), Plas-Tank Industries Inc., Augusta Fiberglass, Group Surya, JRMS Engineering Works, TROY Dualam Inc., Swami Plastic Industries, Plamer, Link Engineers
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global FRP Vessels Market Report Segments:
The global FRP Vessels market is segmented on the basis of:
Types
Glass Fiber, Carbon Fiber, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive & Transportation, Water & Wastewater, Chemicals, Oil & Gas, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sainath Industrial Corporation (SIC)
- Plas-Tank Industries Inc.
- Augusta Fiberglass
- Group Surya
- JRMS Engineering Works
- TROY Dualam Inc.
- Swami Plastic Industries
- Plamer
- Link Engineers
Highlights of The FRP Vessels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Glass Fiber
- Carbon Fiber
- Others
- By Application:
- Automotive & Transportation
- Water & Wastewater
- Chemicals
- Oil & Gas
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the FRP Vessels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
FRP Vessels are made from fiberglass-reinforced plastic and are used for a variety of applications, such as oil and gas pipelines, offshore platforms, water tanks and storage vessels. FRP is a lightweight material that can be easily repaired or replaced if it becomes damaged.
Some of the key players operating in the frp vessels market are Sainath Industrial Corporation (SIC), Plas-Tank Industries Inc., Augusta Fiberglass, Group Surya, JRMS Engineering Works, TROY Dualam Inc., Swami Plastic Industries, Plamer, Link Engineers.
The frp vessels market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 FRP Vessels Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 FRP Vessels Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 FRP Vessels Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the FRP Vessels Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global FRP Vessels Market Size & Forecast, 2018-2028 4.5.1 FRP Vessels Market Size and Y-o-Y Growth 4.5.2 FRP Vessels Market Absolute $ Opportunity
Chapter 5 Global FRP Vessels Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 FRP Vessels Market Size Forecast by Type
5.2.1 Glass Fiber
5.2.2 Carbon Fiber
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global FRP Vessels Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 FRP Vessels Market Size Forecast by Applications
6.2.1 Automotive & Transportation
6.2.2 Water & Wastewater
6.2.3 Chemicals
6.2.4 Oil & Gas
6.2.5 Industrial
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global FRP Vessels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 FRP Vessels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America FRP Vessels Analysis and Forecast
9.1 Introduction
9.2 North America FRP Vessels Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America FRP Vessels Market Size Forecast by Type
9.6.1 Glass Fiber
9.6.2 Carbon Fiber
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America FRP Vessels Market Size Forecast by Applications
9.10.1 Automotive & Transportation
9.10.2 Water & Wastewater
9.10.3 Chemicals
9.10.4 Oil & Gas
9.10.5 Industrial
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe FRP Vessels Analysis and Forecast
10.1 Introduction
10.2 Europe FRP Vessels Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe FRP Vessels Market Size Forecast by Type
10.6.1 Glass Fiber
10.6.2 Carbon Fiber
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe FRP Vessels Market Size Forecast by Applications
10.10.1 Automotive & Transportation
10.10.2 Water & Wastewater
10.10.3 Chemicals
10.10.4 Oil & Gas
10.10.5 Industrial
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific FRP Vessels Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific FRP Vessels Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific FRP Vessels Market Size Forecast by Type
11.6.1 Glass Fiber
11.6.2 Carbon Fiber
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific FRP Vessels Market Size Forecast by Applications
11.10.1 Automotive & Transportation
11.10.2 Water & Wastewater
11.10.3 Chemicals
11.10.4 Oil & Gas
11.10.5 Industrial
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America FRP Vessels Analysis and Forecast
12.1 Introduction
12.2 Latin America FRP Vessels Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America FRP Vessels Market Size Forecast by Type
12.6.1 Glass Fiber
12.6.2 Carbon Fiber
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America FRP Vessels Market Size Forecast by Applications
12.10.1 Automotive & Transportation
12.10.2 Water & Wastewater
12.10.3 Chemicals
12.10.4 Oil & Gas
12.10.5 Industrial
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) FRP Vessels Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) FRP Vessels Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) FRP Vessels Market Size Forecast by Type
13.6.1 Glass Fiber
13.6.2 Carbon Fiber
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) FRP Vessels Market Size Forecast by Applications
13.10.1 Automotive & Transportation
13.10.2 Water & Wastewater
13.10.3 Chemicals
13.10.4 Oil & Gas
13.10.5 Industrial
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 FRP Vessels Market: Competitive Dashboard
14.2 Global FRP Vessels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sainath Industrial Corporation (SIC)
14.3.2 Plas-Tank Industries Inc.
14.3.3 Augusta Fiberglass
14.3.4 Group Surya
14.3.5 JRMS Engineering Works
14.3.6 TROY Dualam Inc.
14.3.7 Swami Plastic Industries
14.3.8 Plamer
14.3.9 Link Engineers