Fiber Reinforced Plastic (FRP) Vessels Market Size To Reach USD 5,924.0 Million In 2028 | Rising Demand From Automotive And Oil & Gas Industries Is A Key Factor Driving Market Revenue Growth - Says Reports and Data

NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The global Fiber Reinforced Plastic (FRP) vessels market size is expected to reach USD 5,924.0 Million in 2028 and register a revenue CAGR of 7.7% over the forecast period, according to the latest report by Reports and Data. Increasing adoption of FRP vessels in chemical plants because of many beneficial properties such as the ease of handling and lightweight nature are key factors driving global Fiber Reinforced Plastic (FRP) vessels market revenue growth. Moreover, increasing number of FRP vessel sales in the oil & gas industry is another factor driving market revenue growth. For the storage of various products, the oil & gas industry requires underground storage vessels and tanks.

Request a Sample Report – https://www.reportsanddata.com/sample-enquiry-form/4833 

Some Key Highlights From the Report

• Carbon fiber segment is expected to account for a significant revenue share over the forecast period. Carbon fibers are relatively expensive and are used in high-end industries such as sporting equipment, aerospace, and industrial parts because these are stronger and lighter. Carbon fibers offer many benefits, including high stiffness, tensile strength, high-temperature tolerance, low weight, minimal thermal expansion, and good chemical resistance.
• Polyurethane segment is expected to account for a large revenue share in the global Fiber Reinforced Plastic (FRP) vessels market over the forecast period. In terms of flexural strength, compression, and tensile strength, polyurethane resin in fiberglass composites has been extensively investigated. It has a high strength-to-weight ratio, is more durable, and has better UV resistance than other materials.
• Water and wastewater segment is expected to register a significantly high revenue CAGR in the global Fiber Reinforced Plastic (FRP) vessels market during the forecast period. Feces, urine, and other solid wastes are present in wastewater in various proportions, with varying densities, particle sizes, and hardness; and these particles can destroy the tanks from within. FRP vessels have distinct attributes such as robust strength, durability, and corrosion resistance.

Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/4833 

• Asia Pacific is expected to register a robust revenue CAGR in the global Fiber Reinforced Plastic (FRP) vessels market during the forecast period. Increased use of these vessels in water and wastewater, chemicals, oil & gas, and automotive and transportation industries is driving revenue growth of the market in this region. High industrial growth in countries such as Japan, China, and South Korea also expected to propel demand for FRP vessels. Governments of developing countries in this region are focusing on boosting the use of alternative fuels and decreasing pollution in cities, which is projected to assist FRP vessel market revenue growth in this region.
• Some major companies profiled in the global Fiber Reinforced Plastic (FRP) vessels report are Sainath Industrial Corporation, Plas-Tank Industries Inc., JRMS Engineering Works, TROY Dualam Inc., Kaymo Fiber Reinforced Plastic Manufacture Co. Ltd., Swami Plastic Industries, Augusta Fiberglass Coating Inc., Link Engineers, Hexagon Composites ASA, and Worthington Industries, Inc.

To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/fiber-reinforced-plastic-vessels-market 

For the purpose of this report, Reports and Data has segmented the global Fiber Reinforced Plastic (FRP) vessels market based on fiber type, resin, distribution channel, application, and region:

• Fiber Type Outlook (Revenue, USD Million; 2018-2028)
• Glass Fiber
• Carbon Fiber
• Aramid Fiber
• Others
• Resin Outlook (Revenue, USD Million; 2018-2028)
• Polyester
• Epoxy
• Polyurethane
• Others
• Distribution Channel Outlook (Revenue, USD Million; 2018-2028)
• Online
• Offline
• Application Outlook (Revenue, USD Million; 2018-2028)
• Automotive & Transportation
• Water & Wastewater
• Chemical
• Industrial
• Oil & Gas
• Others

Buy Premium Research Report @ https://www.reportsanddata.com/checkout-form/4833 

• Regional Outlook (Revenue, USD Million; 2018-2028)
• North America
• a.  U.S.
• b.  Canada
• c.  Mexico
• Europe
• a.  Germany
• b.  UK
• c.  France
• d.  Italy
• e.  Spain
• f.  Sweden
• g.  BENELUX
• h.  Rest of Europe
• Asia Pacific
• a.  China
• b.  India
• c.  Japan
• d.  South Korea
• e.  Rest of APAC
• Latin America
• a.  Brazil
• b.  Rest of LATAM
• Middle East & Africa
• a.  Saudi Arabia
• b.  UAE
• c.  South Africa
• d.  Israel
• e.  Rest of MEA

Explore Trending Research Reports by Reports and Data:

Soil testing equipment market size was USD 3.66 Billion in 2020 and is expected to register a CAGR of 11.2% during the forecast period. Rapid adoption of precision farming solutions, growing need for more efficient farm management practices, and increasing government initiatives and policies to promote soil testing are key factors expected to drive market revenue growth over the forecast period.

Farm equipment rental market size was USD 46.7 Billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period. Growing mechanization trends and increasing demand for different food grains are primary factors fueling market revenue growth.

Air quality monitoring system market size was valued at USD 4.3 billion in 2020 and is expected to register a CAGR of 7% during the forecast period. An air quality management system (AQMS) is an arrangement to measure data regarding weather parameters like wind speed and direction, and concentration of major air pollutants (NOx, SOx, CO2, CO, O3 etc.) and particulate matters on a real-time basis.

Membrane contactor market had a market size of USD 243.2 Million in 2019, and is projected to reach a market size of USD 373.2 Million by 2027, and register a CAGR of 7.9% over the forecast period.

Industrial Automation Motion Control Systems Market is projected to grow at a CAGR of 3.4% from USD 12.67 billion in 2019 to USD 16.68 billion by 2027. Integration of various micro factors such as the greater emphasis on the precision & accuracy, and efficiency in delivering the desired action in industrial applications, rising adoption of the automation in most applications within the industrial premises, increasing advancement in the robotics industry along with its highly efficacious applications, are leveraging the growth of the market.

About Reports and Data        

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact: 

John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs 
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-fiber-reinforced-plastic-vessels-market

Logo: https://mma.prnewswire.com/media/1579615/Reports_and_Data_Logo.jpg