According to a newly published research report by Research Nester on “FRP Dual Laminate Tank Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global FRP dual laminate tank market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global FRP dual laminate tank market is segmented by product and application. Based on product, the market is segmented into polypropylene & GRP, PVC-U & GRP, PVC-C & GRP, ECTFE & GRP and others. On the basis of application, the market is segmented into irritating chemicals, petrochemical products, high purity products and others. The global FRP dual laminate tank market is anticipated to grow significantly over the forecast period i.e. 2019-2027. The market is segmented by product and application, out of which, the petrochemical products segment is anticipated to have significant growth on account of it being corrosion resistant and safer. FRP tanks and vessels designed as per BS4994 are used in the chemical industry in various sectors such as chlor-alkali manufacturers, fertilizer, wood pulp and paper, metal extraction, refining, electroplating, brine, vinegar, food processing and in air pollution control equipment, municipal waste water treatment plants and water treatment plants. FRP tanks and process vessels are used in different commercial and industrial applications like chemical, water & wastewater, food & beverage, mining & metals, power, energy and high- purity applications.
North America is expected to grow significantly during the forecast period attributing to the presence of FRP tanks manufacturers in the region. Asia Pacific is expected to grow significantly owing to increasing industrialization in the activities. Latin America is expected to grow on the back of increasing presence of FRP tanks manufacturer companies in the region.
Economically Beneficial and Safer
As compared to field install alloy tanks, the FRP tanks require less labor, freight, smaller cranes and they are faster to install or erect. These tanks are also safe to assemble than steel tanks as they need minimal elevated work. This makes the FRP tanks economically beneficial and safer which is expected to boost the growth of the global FRP dual laminate tank market.
The material used to make FRP tanks are corrosion resistant and are easy to repair if damaged. This is expected to boot the growth of the global FRP dual laminate tank market.
However, susceptible to degradation and threat of buckling are expected to operate as key restraints towards the growth of global FRP dual laminate tank market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global FRP dual laminate tank market which includes company profiling of Silotank, Forbes Group, Plasticon Composites, KCH Services Inc., Composite & Metal Products USA, Inc., AGRV, Thorpe, GPI Corporation, RL Industries Inc. and Polyplast Chemi-plants. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global FRP dual laminate tank market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.