PUBLISHER: The Business Research Company | PRODUCT CODE: 1931302
PUBLISHER: The Business Research Company | PRODUCT CODE: 1931302
Fiber-reinforced plastic vessels are containers constructed from a modern composite material used in the fabrication of tanks and vessels within chemical plants. This material comprises fibers embedded in a polymer matrix, providing inherent corrosion resistance. The technical advantages of fiber-reinforced plastic include resistance to corrosion, the ability to withstand hydrostatic forces, and high tensile strength.
The primary types of fiber-reinforced plastic vessels include glass fiber, carbon fiber, aramid fiber, and other variations. Glass Fiber Reinforced Plastic is a composite material consisting of a polymer matrix and glass fibers. Various resins, such as polyester, epoxy, polyurethane, and others, are utilized in the construction of fiber-reinforced plastic vessels. These vessels are distributed through different channels, including online and offline platforms, and find applications in various industries such as automotive and transportation, water & wastewater, chemical, industrial, oil & gas, and others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are influencing the fiber reinforced plastic vessels market by increasing costs of imported resins, fibers, fabrication equipment, and composite processing machinery. Industrial users in North America and Europe are most affected due to reliance on specialized imported materials, while Asia-Pacific faces cost pressure on composite exports. These tariffs are increasing project costs and procurement timelines. However, they are also driving domestic composite manufacturing, regional resin sourcing, and technological advancements in cost-efficient vessel fabrication.
The fiber reinforced plastic vessels market research report is one of a series of new reports from The Business Research Company that provides fiber reinforced plastic vessels market statistics, including fiber reinforced plastic vessels industry global market size, regional shares, competitors with a fiber reinforced plastic vessels market share, detailed fiber reinforced plastic vessels market segments, market trends and opportunities, and any further data you may need to thrive in the fiber reinforced plastic vessels industry. This fiber reinforced plastic vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fiber reinforced plastic vessels market size has grown rapidly in recent years. It will grow from $3.98 billion in 2025 to $4.4 billion in 2026 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to expansion of chemical processing industries, replacement of metal tanks due to corrosion issues, increasing industrial storage requirements, availability of glass and carbon fiber materials, growth in wastewater treatment infrastructure.
The fiber reinforced plastic vessels market size is expected to see rapid growth in the next few years. It will grow to $6.46 billion in 2030 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to increasing investments in corrosion-resistant infrastructure, rising demand from oil and gas and water treatment sectors, expansion of composite material innovation, growing focus on lifecycle cost reduction, increasing adoption of custom-engineered frp vessels. Major trends in the forecast period include increasing adoption of corrosion-resistant composite vessels, rising demand for lightweight industrial storage solutions, growing use of frp vessels in chemical processing, expansion of custom-designed composite tanks, enhanced focus on long service life and structural strength.
The increasing demand for oil and gas exploration and production is expected to drive the growth of the fiber-reinforced plastic vessels market going forward. Oil and gas exploration and production is a vital segment of the energy industry that focuses on the discovery, extraction, and processing of oil and natural gas resources from underground reserves. Fiber-reinforced plastic vessels are widely used in this sector due to their excellent corrosion and chemical resistance, lightweight construction, customization flexibility, and ability to safely store and transport a wide range of substances. For example, in June 2023, according to Datacenter Forum, a Sweden-based business development services provider, the Norwegian government approved investments totaling $18 billion for the development of 19 oil and gas fields. Therefore, the growing demand for oil and gas exploration and production is driving the expansion of the fiber-reinforced plastic vessels market.
Companies operating in the fiber-reinforced plastic vessels market are increasingly focusing on product innovation, such as the development of corrosion-resistant FRP vessels, to address rising demand for durable, lightweight, and sustainable storage solutions across industrial applications. Corrosion-resistant FRP vessels are composite tanks manufactured from fiber-reinforced plastics that resist chemical degradation, helping to extend service life, reduce maintenance costs, and ensure safe and reliable storage in harsh operating environments. For instance, in October 2024, ZCL Composites Inc., a Canada-based designer and manufacturer of composite process equipment, launched a new range of environmentally friendly FRP vessels tailored for the chemical industry. These vessels are designed to meet environmental compliance requirements while delivering long-term performance in corrosive conditions, supporting a wide range of industrial chemical storage and processing needs. By leveraging advanced composite materials and engineering techniques, these products offer enhanced durability and sustainability compared to traditional materials, aligning with industry demand for high-performance and eco-efficient solutions.
In June 2024, Worthington Enterprises Inc., a US-based industrial manufacturing company, acquired Hexagon Ragasco for an undisclosed amount. Through this acquisition, Worthington Enterprises aims to strengthen its global footprint and expand its portfolio of fiber-reinforced plastic pressure vessels used for liquefied petroleum gas storage across residential, commercial, and industrial markets. Hexagon Ragasco is a Norway-based industrial manufacturing company specializing in advanced fiber-reinforced plastic composite pressure vessels.
Major companies operating in the fiber reinforced plastic vessels market are Sainath Industrial Corporation, Plas-Tank Industries Inc., JRMS Engineering Works, TROY Dualam Inc., Swami Plastic Industries, Augusta Fiberglass Coating Inc., AVANCO GmbH, Enduro Composites Inc., EPP Composites Pvt Ltd., Faber Industrie SPA, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Nproxx BV, Quantum Fuel Systems Technologies Worldwide Inc., ZCL Composites Inc., Luxfer Group Ltd., Hexagon Composites ASA, Everest Kanto Cylinder Ltd., B & D Plastics LLC, Belco Manufacturing Co Inc., Diamond Fiberglass Fabricators Inc., Fiber-Tech Industries Inc., Fibrex Pvt Ltd.
Asia-Pacific was the largest region in the fiber reinforced plastic vessels market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber reinforced plastic vessels market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fiber reinforced plastic vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market for fiber-reinforced plastic vessels consists of sales of natural fiber, hemp fiber, plant-based fiber, polycarbonate, and polyamide. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fiber Reinforced Plastic Vessels Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses fiber reinforced plastic vessels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fiber reinforced plastic vessels ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The fiber reinforced plastic vessels market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.