Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Fiberglass Tanks Market (2024 Edition): Analysis By Type (Glass Fiber Composites, Carbon Fiber Composites, and Other Types), By Application, By Resin Type, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Fiberglass Tanks market showcased growth at a CAGR of 4.05% during 2020-2023. The market was valued at USD 2.62 billion in 2023 which is expected to reach USD 3.53 billion in 2030.
This report provides a complete analysis for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030.
The fiberglass tanks market revolves around the manufacturing, distribution, and application of tanks made from fiberglass-reinforced plastic (FRP). These tanks are highly valued for their durability, lightweight characteristics, and resistance to corrosion compared to traditional materials like steel or concrete. As a result, they are extensively used across various industries, including water and wastewater treatment, chemical processing, oil and gas, agriculture, and pharmaceuticals. Their primary function is to store a range of liquids, chemicals, and other materials safely and efficiently.
Fiberglass tanks offer several advantages that drive their market demand. They are renowned for their resistance to corrosion and high pressures, making them suitable for harsh chemical environments and extreme conditions. Additionally, they require less maintenance than many other tank materials and can be customized easily to meet specific requirements.
The fiberglass tanks market involves the production and use of tanks made from fiberglass-reinforced plastic (FRP), a composite material combining glass fibers and resin. These tanks are valued for their durability, resistance to corrosion, and lightweight characteristics, making them suitable for various industrial applications. Fiberglass tanks are used widely across sectors like water and wastewater treatment, chemical storage, and oil and gas, providing a versatile solution to traditional storage challenges.
Fiberglass tanks find extensive application across several industries. In water and wastewater treatment facilities, their resistance to corrosive environments and ease of maintenance make them ideal. They are also crucial in chemical storage, where their ability to withstand various chemicals is advantageous. In the oil and gas sector, fiberglass tanks are used for storing petroleum products, while in agriculture, they are employed for storing fertilizers and chemicals. This diverse application range highlights the versatility and importance of fiberglass tanks in modern industrial processes.
The fiberglass tanks market can be segmented by type and application. By type, the market includes horizontal tanks, which are used for large-volume storage, vertical tanks, commonly employed in industrial processes, and customized tanks, tailored to specific needs. By application, the market is segmented into water treatment, chemicals and petrochemicals, oil and gas, agriculture, and other sectors such as food and beverage. This segmentation allows for targeted market analysis and tailored solutions for different industrial needs.
Technological advancements in fiberglass manufacturing are enhancing tank performance and longevity, making them more appealing to industrial users. There is also a growing emphasis on sustainability, leading to increased adoption of fiberglass tanks in environmentally conscious projects. Additionally, the market is seeing a rise in demand for customized solutions that cater to specific industrial requirements, reflecting a shift towards more tailored and flexible tank options.
Looking ahead, the fiberglass tanks market is expected to continue its upward trajectory, driven by increasing industrial activities, advancements in tank technology, and a focus on sustainability. Future developments may include enhancements in material performance, integration with smart technologies for better monitoring and management, and expanded applications in emerging markets. This positive outlook reflects the ongoing evolution and growing significance of fiberglass tanks in various industrial sectors.
Scope of the Report
- The report analyses the Fiberglass Tanks Market by Value ( USD Million).
- The report analyses the Fiberglass Tanks Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Italy, United Kingdom, Germany, France, China, India, Japan, and South Korea).
- The report presents the analysis of Fiberglass Tanks Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Fiberglass Tanks Market By Type (Glass Fiber Composites, Carbon Fiber Composites, and Other Types).
- The report analyses the Fiberglass Tanks Market By Application (Commercial, Residential, Municipal, Industrial, and Other Applications).
- The report analyses the Fiberglass Tanks Market By Resin Type (Polyester, Vinyl Ester, and Other Resin Type).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented By Type, By Application & By Resin Type.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Competitive Positioning
- Companies' Product Positioning
- Market Position Matrix
- Market Share Analysis of Fiberglass Tanks Market
Company Profiles
- Xerxes
- Design Tanks
- Edwards Fiberglass Inc
- Fiberglass Tank & Pipe Institute
- EPP Composites Pvt Ltd
- Augusta Fiberglass
- LF Manufacturing
- Ventura Fibre
- Norwesco, Inc.
- CST Industries, Inc.
Key Topics Covered:
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Analyst Recommendations
2.1 Focus on After-Sales Service and Maintenance
2.2 Diversify Product Portfolio
3. Global Fiberglass Tanks Market: Historic and Forecast
3.1 Impact Analysis of Macro Economic Factors on Global Fiberglass Tanks Market
3.2 Global Fiberglass Tanks Market: Dashboard
3.3 Global Fiberglass Tanks Market: Market Size and CAGR, 2020-2030 (USD Million & CAGR)
3.4 Global Fiberglass Tanks Market: Market Value Assessment
3.5 Global Fiberglass Tanks Market Segmentation: By Type
3.5.1 Global Fiberglass Tanks Market, By Type Overview
3.5.2 Global Fiberglass Tanks Market Attractiveness Index, By Type
3.5.3 Global Fiberglass Tanks Market Size, By Glass Fiber Composites, By Value, 2020H-2030F (USD Million & CAGR)
3.5.4 Global Fiberglass Tanks Market Size, By Carbon Fiber Composites, By Value, 2020H-2030F (USD Million & CAGR)
3.5.5 Global Fiberglass Tanks Market Size, By Other Types, By Value, 2020H-2030F (USD Million & CAGR)
3.6 Global Fiberglass Tanks Market Segmentation: By Application
3.6.1 Global Fiberglass Tanks Market, By Application Overview
3.6.2 Global Fiberglass Tanks Market Attractiveness Index, By Application
3.6.3 Global Fiberglass Tanks Market Size, By Commercial, By Value, 2020H-2030F (USD Million & CAGR)
3.6.4 Global Fiberglass Tanks Market Size, By Residential, By Value, 2020H-2030F (USD Million & CAGR)
3.6.5 Global Fiberglass Tanks Market Size, By Municipal, By Value, 2020H-2030F (USD Million & CAGR)
3.6.6 Global Fiberglass Tanks Market Size, By Industrial, By Value, 2020H-2030F (USD Million & CAGR)
3.6.7 Global Fiberglass Tanks Market Size, By Other Applications, By Value, 2020H-2030F (USD Million & CAGR)
3.7 Global Fiberglass Tanks Market Segmentation: By Resin Type
3.7.1 Global Fiberglass Tanks Market, By Resin Type Overview
3.7.2 Global Fiberglass Tanks Market Attractiveness Index, By Resin Type
3.7.3 Global Fiberglass Tanks Market Size, By Polyester, By Value, 2020H-2030F (USD Million & CAGR)
3.7.4 Global Fiberglass Tanks Market Size, By Vinyl Ester, By Value, 2020H-2030F (USD Million & CAGR)
3.7.5 Global Fiberglass Tanks Market Size, By Other Resin Type, By Value, 2020H-2030F (USD Million & CAGR)
4. Global Fiberglass Tanks Market, Region Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
For more information about this report visit https://www.researchandmarkets.com/r/z5d1du
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