FRP Vessel Market Report: Trends, Forecast and Competitive Analysis to 2030

FRP Vessel Trends and Forecast

The future of the global FRP vessel market looks promising with opportunities in the water & wastewater, chemical, automotive & transportation, oil & gas, and industrial markets. The global FRP vessel market is expected to reach an estimated $6.1 billion by 2030 with a CAGR of 7.8% from 2024 to 2030. The major drivers for this market are increasing use of FRP vessels is observed in the water and wastewater treatment sector, rising adoption of FRP vessels in chemical industry due to their advantageous characteristics, and growing interest in natural gas vehicles in the asia pacific region.

A more than 150-page report is developed to help in your business decisions.

FRP Vessel by Segment

The study includes a forecast for the global FRP vessel by resin type, fiber type, application, and region.

FRP Vessel Market by Resin Type [Shipment Analysis by Value from 2018 to 2030]:

• Polyester
• Epoxy
• Others

FRP Vessel Market by Fiber Type [Shipment Analysis by Value from 2018 to 2030]:

• Glass
• Carbon
• Others

FRP Vessel Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Water & Wastewater
• Chemical
• Automotive & Transportation
• Oil & Gas
• Industrial
• Others

FRP Vessel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of FRP Vessel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies FRP vessel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the FRP vessel companies profiled in this report include-

• Hexagon Composites
• Luxfer
• Worthington Industries
• Everest Kanto Cylinders
• Quantum Fuel Systems
• Faber Industrie
• Avanco
• ZCL Composites
• Denali
• Lianyungang Zhongfu Lianzhong Composites

FRP Vessel Market Insights

Lucintel forecasts that polyester will remain the larger segment over the forecast period due to it's adaptability, chemical resistance, mechanical qualities, and dimensional stability.

APAC is expected to witness highest growth over the forecast period due to growing usage of FRP vessels in applications related to chemicals, oil and gas, water and wastewater, and automobiles and transportation in the region.

Features of the Global FRP Vessel Market

Market Size Estimates: FRP vessel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: FRP vessel market size by resin type, fiber type, application, and region in terms of value ($B).

Regional Analysis: FRP vessel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different resin types, fiber types, applications, and regions for the FRP vessel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the FRP vessel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the FRP vessel market size?

Answer: The global FRP vessel market is expected to reach an estimated $6.1 billion by 2030.

Q2. What is the growth forecast for FRP vessel market?

Answer: The global FRP vessel market is expected to grow with a CAGR of 7.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the FRP vessel market?

Answer: The major drivers for this market are increasing use of these vessels in the water and wastewater treatment and chemical sector, growing interest in natural gas vehicles and expanding number of portable water treatment plant.

Q4. What are the major segments for FRP vessel market?

Answer: The future of the FRP vessel market looks promising with opportunities in the water & wastewater, chemical, automotive & transportation, oil & gas, and industrial markets.

Q5. Who are the key FRP vessel market companies?

Answer: Some of the key FRP vessel companies are as follows:

• Hexagon Composites
• Luxfer
• Worthington Industries
• Everest Kanto Cylinders
• Quantum Fuel Systems
• Faber Industrie
• Avanco
• ZCL Composites
• Denali
• Lianyungang Zhongfu Lianzhong Composites

Q6. Which FRP vessel market segment will be the largest in future?

Answer: Lucintel forecasts that polyester will remain the larger segment over the forecast period due to it's adaptability, chemical resistance, mechanical qualities, and dimensional stability.

Q7. In FRP vessel market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to growing usage of FRP vessels in applications related to chemicals, oil and gas, water and wastewater, and automobiles and transportation in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the FRP vessel market by resin type (polyester, epoxy, and others), fiber type (glass, carbon, and others), application (water & wastewater, chemical, automotive & transportation, oil & gas, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?