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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Occupies a Significant Segment in the Market for FRP Vessels
FRP vessels are crucial in the manufacturing of fuel cells. The increasing demand for fuel-cell vehicles in the United States of America, owing to the changing preference of customers towards hydrogen powered cars, is driving the demand for the FRP vessels market.
The rising applications of FRP vessels in the renovation of commercial or residential structures is likely to be a major propelling factor its demand in the coming years. The market in the North America region is anticipated to be aided by the advanced oil and gas infrastructure present, which is likely to amplify the demand for FRP vessels in the forecast period.
FRP Vessels Market Report Snapshots
FRP Vessels Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market attained a value of nearly USD 2.76 billion.
The market is estimated to grow at a CAGR of 7.0% between 2024 and 2032.
The market for FRP vessels is estimated to witness a healthy growth in the 2024-2032 forecast period, reaching a value of USD 5.10 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the thriving industrial sector in the emerging economies, growing demand for strong and corrosion resistant products in the construction and automotive sector, and rapid urbanisation.
The increasing investment in water treatment projects are likely to be a key trend in the market.
Glass fibre, and carbon fibre reinforced plastic, among others are the are the different fibres based on which the market has been segmented.
Epoxy, and polyester, among others is the segmentation of market based on resin.
Automotive and transportation, chemical, water and wastewater, oil and gas, and industrial, among others is the segmentation of market based on wall construction.
The major players in the industry are Plas-Tanks Industries, Inc., Kaymo Fiber Reinforced Plastic Manufacture Co., Ltd., Group Surya, JRMS Engineering Works, and Link Engineers, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124