#Fiber Reinforced Plastic (FRP) Vessel Market Market Research

[reedintelligence]

Fiber Reinforced Plastic (FRP) Vessel Market Forecast By Industry Outlook | 2024-2032

The global fiber reinforced plastic vessel market size had a share of USD 1,123 million, which is estimated to project with a CAGR of 6.4% and reach USD 1,963 million during the forecast period.

The latest Global Fiber Reinforced Plastic (FRP) Vessel Market by straits research provides an in-depth analysis of the Fiber Reinforced Plastic (FRP) Vessel Market, including its future growth potential and key factors influencing its trajectory. This comprehensive report explores crucial elements driving market expansion, current challenges, competitive landscapes, and emerging opportunities. It delves into significant trends, competitive strategies, and the role of key industry players shaping the global Fiber Reinforced Plastic (FRP) Vessel Market. Additionally, it provides insight into the regulatory environment, market dynamics, and regional performance, offering a holistic view of the global market’s landscape through 2032.

Competitive Landscape

Some of the prominent key players operating in the Fiber Reinforced Plastic (FRP) Vessel Market are 

Sainath Industrial Corporation (SIC)

Plas-Tank Industries Inc.

Augusta Fiberglass

Group Surya

JRMS Engineering Works

TROY Dualam Inc.

Kaymo Fiber Reinforced Plastic Manufacture Co. Ltd.

Swami Plastic Industries

Palmer

Link Engineers

Get Free Request Sample Report @ https://straitsresearch.com/report/fiber-reinforced-plastic-vessel-market/request-sample

The Fiber Reinforced Plastic (FRP) Vessel Market Research report delivers comprehensive annual revenue forecasts alongside detailed analysis of sales growth within the market. These projections, developed by seasoned analysts, are grounded in a deep exploration of the latest industry trends. The forecasts offer valuable insights for investors, highlighting key growth opportunities and industry potential. Additionally, the report provides a concise dashboard overview of leading organizations, showcasing their effective marketing strategies, market share, and the most recent advancements in both historical and current market landscapes.Global Fiber Reinforced Plastic (FRP) Vessel Market: Segmentation

The Fiber Reinforced Plastic (FRP) Vessel Market segmentation divides the market into multiple sub-segments based on product type, application, and geographical region. This segmentation approach enables more precise regional and country-level forecasts, providing deeper insights into market dynamics and potential growth opportunities within each segment.

By Fiber Type

Glass Fibre

Carbon Fibre

Others

By Resin

Polyester

Epoxy

Others

By Application

Automotive & Transportation

Water & Wastewater

Chemicals

Oil & Gas

Industrial

Others

Stay ahead of the competition with our in-depth analysis of the market trends!

Buy Now @ https://straitsresearch.com/report/fiber-reinforced-plastic-vessel-market/segmentation

Market Highlights:

A company's revenue and the applications market are used by market analysts, data analysts, and others in connected industries to assess product values and regional markets.

But not limited to: reports from corporations, international Organization, and governments; market surveys; relevant industry news.

Examining historical market patterns, making predictions for the year 2022, as well as looking forward to 2032, using CAGRs (compound annual growth rates)

Historical and anticipated data on demand, application, pricing, and market share by country are all included in the study, which focuses on major markets such the United States, Europe, and China.

Apart from that, it sheds light on the primary market forces at work as well as the obstacles, opportunities, and threats that suppliers face. In addition, the worldwide market's leading players are profiled, together with their respective market shares.

Goals of the Study

What is the overall size and scope of the Fiber Reinforced Plastic (FRP) Vessel Market market?

What are the key trends currently influencing the market landscape?

Who are the primary competitors operating within the Fiber Reinforced Plastic (FRP) Vessel Market market?

What are the potential growth opportunities for companies in this market?

What are the major challenges or obstacles the market is currently facing?

What demographic segments are primarily targeted in the Fiber Reinforced Plastic (FRP) Vessel Market market?

What are the prevailing consumer preferences and behaviors within this market?

What are the key market segments, and how do they contribute to the overall market share?

What are the future growth projections for the Fiber Reinforced Plastic (FRP) Vessel Market market over the next several years?

How do regulatory and legal frameworks influence the market?

Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.

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Email: sales@straitsresearch.com 

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[sandlerresearch]

FRP Vessels Market by Fiber (Glass, Carbon, Others), Resin (Polyester, Resin, Others), Application (Automotive & Transportation, Water and Wastewater, Chemical, Industrial, Oil & Gas, Others), and Region - Global Forecast to 2025 published on

https://www.sandlerresearch.org/frp-vessels-market-by-fiber-glass-carbon-others-resin-polyester-resin-others-application-automotive-transportation-water-and-wastewater-chemical-industrial-oil-gas-others-and-reg.html

FRP Vessels Market by Fiber (Glass, Carbon, Others), Resin (Polyester, Resin, Others), Application (Automotive & Transportation, Water and Wastewater, Chemical, Industrial, Oil & Gas, Others), and Region - Global Forecast to 2025

“The FRP vessels market is projected to register a CAGR of 8.0% during the forecast period.”

The global FRP vessels market size is projected to grow from USD 3.3 billion in 2020 to USD 4.7 billion by 2025, at a compound annual growth rate (CAGR) of 8.0% between 2020 and 2025.  FRP vessels are durable, cheaper, and most importantly lightweight. It is used in various applications in the automotive & transportation, water and wastewater, oil & gas, chemicals, industrial, among others. FRP vessels can be majorly classified into fiber type, depending on the material used during manufacturing. However, the negative impact of the COVID-19 pandemic on the automotive industry has affected the FRP vessels market adversely.

“Glass fiber is the fastest-growing segment, in terms of value in the FRP vessels market in terms of both value and volume.”

Glass fiber is projected to register the highest CAGR in terms of value between 2020 and 2025. Glass fiber accounts for the largest share of the overall market. In glass fiber composites (GFRP), a number of tiny glass fibers are compiled together and held rigidly in place by a plastic polymer resin. The common plastic resins used in composites include epoxy, vinyl ester, polyester, polyurethane, and polypropylene. Owing to its superior physical and mechanical properties such as strength, durability, flexibility, stability, lightweight, and resistance to heat, temperature, and moisture, glass fiber is used in construction & infrastructure, wind energy, pipe & vessels, marine, and transportation industries. Carbon fiber-reinforced FRP vessels are high-cost material used in high-end applications such as aerospace, industrial parts, and sporting goods as they are stronger and more lightweight.

“Polyester resin is the largest resin type of FRP vessels in terms of value and volume.”

Various resins (polyester, epoxy, others) are used in manufacturing of FRP vessels. the polyester resin based FRP vessels accounted for 58%, in terms of volume, of the overall market in 2019. Over the last five years, the demand from industrial and water applications is increasing due to new chemical facilities, horizontal drilling in shale fields, and stringent government regulations, especially in North America. With the growing automotive & transportation industry, the usage of epoxy resin for making strong FRP vessels is also expected to rise in the near future.

“Water & wastewater is the largest application of FRP vessels in terms of both value and volume.”

The water & wastewater application is the biggest application in the FRP vessels market. Composite vessels are used in potable water storage and wastewater storage. Wastewater contains feces, urine, and other solid waste in different concentrations having different densities, particle sizes, and hardness; these particles damage the tanks from within. Traditional tanks made up of steel corrode quickly and break due to the nature of the waste they carry. Metal tanks in the sewage system are now being replaced by FRP vessels.

“APAC is the leading FRP vessels market in terms of both value and volume.”

The growth of the FRP vessels market in APAC is driven by the increasing consumption in chemicals, water & wastewater, automotive & transportation, and oil & gas applications. This growing consumption is attributed to the high industrial growth in countries such as China, Japan, and South Korea. China has become the largest consumer of FRP vessels in the automobile sector and is expected to strengthen its position further. The focus of the Chinese government on reducing air pollution by promoting the use of natural gas vehicles is driving the growth of the FRP vessels market. Governments of APAC countries are focusing on increasing the use of alternative fuels and reducing emissions in cities, which is expected to help grow the FRP vessels market in the region. Natural gas plays a significant role in APAC as it is a cleaner as well as an economical source of energy compared to gasoline, diesel, or other fuels.

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:

By Company Type– Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%

By Designation– C Level- 50%, Director Level- 20, and Others- 30%

By Region– North America- 50%, Europe- 20%, Asia Pacific (APAC) – 20%, Latin America-5%, Middle East & Africa (MEA)-10%,

The report provides a comprehensive analysis of company profiles listed below:

Hexagon Composites ASA (Norway),

Luxfer Group (England),

Worthington Industries, Inc. (US),

Everest Kanto Cylinders Ltd. (India),

Quantum Fuel Systems LLC. (US),

Faber Industrie SpA (Italy),

Avanco Group (Germany),

 ZCL Composites Inc. (Canada),

Denali Incorporated (US), and

Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd. (China)

Research Coverage

This report covers the global FRP vessels market and forecasts the market size until 2025. It includes the following market segmentation – fiber (glass, carbon, others), resin (polyester, epoxy, others), application (automotive & transportation, water & wastewater, industrial, chemicals, others), and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global FRP vessels market.

Key benefits of buying the report:

The report is expected to help market leaders/new entrants in this market in the following ways:

This report segments the global FRP vessels market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.

The report helps stakeholders understand the pulse of the FRP vessels market and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion and acquisition.

Reasons to buy the report:

The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall FRP vessels market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

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The Carbon Fiber Reinforced Plastic Market is expected to reach $17.73 billion by 2023.

According to the new market research report by IndustryARC titled “Carbon Fiber Reinforced Plastic Market: By Type (Thermoplastic, Thermosetting); By Applications (Automobile, Aviation,Defense, Marine, Others) – With Forecast 2018-2023”, the market is driven by the growing utilization of applications such as automobiles and wind energy. Asia Pacific dominates the Carbon Fiber Reinforced Plastic Market during forecast period: Asia Pacific is expected to dominate the Carbon Fiber Reinforced Plastic Market with increasing adoption of CFRP in the automotive and aerospace industries due to its declining prices. China is the fastest growing region and is expected to reach $1.1 billion at 12.6% CAGR. This region accounts for a larger share of global wind energy production and has seen a rise in the wind energy capacity of installations. Hence, the CFRP market in China focuses on the wind energy industry. In Americas, aerospace and the defense industry are the primary markets in the US. CFRP products are used in Blackhawk helicopters, helmets, body armor, and other military applications such as rocket motor casing, satellites, and missiles. Selected Analysis done in the Carbon Fiber Reinforced Plastic Market Report: Defense is the dominant application in the Carbon Fiber Reinforced Plastic Market due to large scale use of carbon fiber as well as use of high value materials. CFRP is used to manufacture specialty components for missile systems, radar panels, rocket motor casing, ballistics applications, and nuclear submarine propulsion systems. M80 Stileto is the largest naval vessel in the US, built using carbon-fiber composites.  The materials used in military composites include Kevlar, fiberglass and carbon fiber. U.S. DOD aims to replace UH-60 Black Hawk with Bell Helicopter’s V-280 which incorporates carbon fibers in its wings, fuselage and tail. Other countries like Russia, India and Japan are increasingly using CFRP materials in Submarines, Jets, Sonar Domes and truck components. U.S., Russia, U.K., India and China spend heavily on defense equipment and maintenance of army. The need for agility during sudden attacks and upgrading the defense technologies has led to the shift from conventional materials to fiber reinforced materials. To access the full report click on the following link: https://industryarc.com/Report/11646/carbon-fiber-reinforced-plastic-market.html/summary Excerpts on Market Growth Factors: • Carbon fiber reinforced plastic is mostly utilized in myriad applications, despite the high price due to the performance factor. Industries such as aerospace and automobile have also utilized CFRP products in the recent past. • Automobile manufacturers have increased their capability of producing lightweight materials by using CFRP composites. • The Wind energy segment is expected to become an important sector for CFRP composites. The other industry verticals in the CFRP market have been seeing stagnant growth in developed economies. However, wind energy generation has been witnessing a high growth as it adheres to new energy regulations. Key players of the Carbon Fiber Reinforced Plastic Industry: Teijin dominates the Carbon Fiber Reinforced Plastic Market followed by Toray and Cytec. Teijin produces advanced fibers such as aramid and Carbon fibers. The company is working hard to expand its business further. It has provided a breakthrough in medical solutions. Toray produces synthetic fibers such as nylon, polyester, and acrylic. PAN based CFRP is also produced by the company and is used in aerospace and other applications. Cytec produces technologically advanced materials for aerospace industries. Carbon Fiber Reinforced Plastic Report Is Segmented As Below: Robust growth rates in automobile and aerospace sectors drive the demand for the Carbon Fiber Reinforced Plastic Market in the coming years. A. By Type of Services         1. Thermosetting              1.1. Epoxy Resin              1.2. Polyester Resin  1.3. Vinyl Ester Resin              1.4. Phenolic              1.5. Polyimide Resins              1.6. Others       2. Thermoplastic              2.1. Polyether Ether Ketone (Peek)              2.2. Polypropylene              2.3. Nylon              2.4. Acrylic Resins              2.5. Polyamide Resins              2.6. Others B. By Application         1. Automobile         2. Industrial         3. Aviation and Aerospace         4. Marine         5. Defence         6. Electrical & Electronic         7. Medical         8. Sports Equipment         9. Wind Energy       10. Civil Engineering       11. Others C. By Geography(covers 11+ countries) D. By Entropy Company Citied/ Interviewed         1. SGL CARBON SE (SGL GROUP)               2. TEIJIN LTD.                                   3. TORAY INDUSTRIES INC.     4. NIPPON CARBON CO. LTD.     5. MITSUBISHI RAYON CO. LTD. 6. FORMOSA PLASTICS CORPORATION 7. CYTEC SOLVAY GROUP         8. DOWAKSA                                   9. GKN AEROSPACE 10. HEXCEL CORPORATION 11. Company 11 12. Company 12 13. Company 13 14. Company 14+ Related Report: A. FRP Rebar Market https://industryarc.com/Report/15863/frp-rebar-market.html B. FRP/GRP/GRE Pipe Market https://industryarc.com/Report/16469/frpgrpgre-pipe-market.html What can you expect from the report? The Report is Prepared with the Main Agenda to Cover the following 20 points: 1. Market Size by Product Categories & Application       11. Demand Analysis (Revenue & Volume) 2. Market trends & Relevant Market Data        12. Country level Analysis 3. Manufacturer Landscape      13. Competitor Analysis 4. Distributor Landscape           14. Market Shares Analysis 5. Pricing Analysis                       15. Value Chain Analysis 6. Top 10 End user Analysis      16. Supply Chain Analysis 7. Product Benchmarking          17. Strategic Analysis 8. Product Developments         18. Current & Future Market Landscape Analysis                                                                 9. Mergers & Acquisition Analysis        19. Opportunity Analysis 10. Patent Analysis                       20. Revenue and Volume Analysis Frequently Asked Questions: Q. Does IndustryARC provide customized reports and charge additionally for limited customization? Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization: 1. Increase the level of data in application or end user industry. 2. Increase the number of countries in geography chapter. 3. Find out market shares for other smaller companies or companies which are of interest to you. 4. Company profiles can be requested based on your interest. 5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com  to discuss more about our consulting services. Media Contact: Mr. Venkat Reddy Sales Manager Email 1: sales@industryarc.com Or Email 2: venkat@industryarc.com Contact Sales: +1-614-588-8538 (Ext-101) About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare. IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. We look forward to support the client to be able to better address their customer needs, stay ahead in the market, become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.