DALLAS, November 24--According to a report published by Lucintel, the North American FRP tank market was negatively impacted by recessionary trends in 2009, but is likely to recover and post positive growth from 2010 and later, reaching $712 million by 2015. The high corrosion resistance and total life cycle cost benefits of FRP tanks are likely to drive higher market penetration, stimulating the overall market growth.

Lucintel analyzed the North American tank market and published a comprehensive research report titled, "Opportunities for Fiber Reinforced Plastics (FRP) Tank in North America 2010-2015: Market Size, Market Share and Forecast Analysis".

Lucintel analysts believe that the North American market will remain one of the largest markets for FRP tanks globally, with accelerated uptake in key end-use industries such as the petroleum, wastewater, and pulp and paper industries. The higher upfront cost of FRP tanks, however, remains the most critical challenge for faster adoption across applications.

Due to its lower cost, polyester resin is expected to dominate as the material of choice in the North American FRP tank market. The chemical industry, however, is expected to be the prime driver for consumption of epoxy and vinyl ester resins. Vinyl ester resin consumption is likely to witness stronger growth than competing resins systems because of its superior performance characteristics.

Lucintel’s market research provides a detailed analysis of the North American FRP tank industry, including its background and characteristics, market trends (2004-2009) and forecast (2010-2015), industry leaders and market share analysis, tank manufacturing processes, growth opportunities and emerging composite applications, and more, and offers insights into current and future opportunities.

For a detailed table of contents and pricing information on this timely and insightful report, please contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. This market report is published by Lucintel, a leading global management consulting and market research firm with over 1,000 clients worldwide. To find out more, please visit www.lucintel.com .