The North American fiber reinforced plastic (FRP) tank market experienced significant growth in 2010 and 2011 after the sluggish economic environment of 2008-2009. The market is expected to grow to $806 million in 2017 with a CAGR of 3.8% over the next five years. Western Canada has been the top region in terms of total FRP tank production mainly due to the presence of large manufacturing units in the region.
Lucintel, a leading global management consulting and market research firm, conducted a competitive analysis on this market and presents its findings in “Opportunities for FRP Tank in North America 2012-2017: Market Size, Market Share, and Forecast Analysis.” This report considers North American fiber reinforced plastic (FRP) tanks for a variety of markets including petroleum, chemical, water/wastewater, septic, pulp and paper, agriculture, and aquaculture.
As the study indicates, FRP tank demand is growing rapidly due to increasing penetration of FRP tanks in markets such as those mentioned above. Increased demand for lightweight, recyclable, environment friendly and efficient products that have advantages of corrosion resistance is driving the FRP tank market. In addition, customers desire FRP tanks’ high strength-to-weight ratio, low maintenance, and longer life cycle than other, traditional materials such as concrete and steel. Composite materials consumption in the North American FRP tank market is expected to reach 278.7 million pounds in 2017.
Lucintel’s research indicates that the penetration of FRP tanks in various applications is expected to experience an upward trend because of better material properties and lifecycle costs. Brand loyalty is anticipated to largely disappear as industry fundamentals move toward a low-cost-to-serve model. Therefore, it is more important than ever that material suppliers strive to improve the customer experience.
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of “Opportunities for FRP Tank in North America 2012-2017: Market Size, Market Share, and Forecast Analysis” include:
• North America FRP tank market size in terms of $ value and volume shipments
• North America FRP tank market breakdown in various applications has been provided in this report
• North America FRP tank market breakdown in terms of type of tanks, raw materials, raw materials, market leadership position
• North America FRP tank market breakdown by region has been provided
• Major growth drivers and challenges for each of these application areas
• Trend (2006-2011) and forecast (2012-2017) of FRP tank market in North America
• Drivers and Challenges of FRP tank market in North America
• North America FRP tank market by manufacturing process such as filament winding, hand layup etc.
• Growth opportunities in emerging applications of FRP tank
• More than 134 figures/charts and 31 tables are provided in this roughly 156-page report