| Product Code: ETC4501765 | Publication Date: Jul 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India FRP tank market import shipment demonstrated robust growth from 2020 to 2024, with a notable CAGR of 33.1%. Momentum accelerated further between 2023 and 2024, showing a growth rate of 35.8%. The market expansion was steady and strong, indicating a growing demand trend over the period.
Fiber-reinforced plastic (FRP) tanks are widely used in India for storage of chemicals, water, and various liquids. They are known for their corrosion resistance and durability. The demand for FRP tanks is driven by industries such as chemicals, water treatment, and agriculture, where safe and reliable storage solutions are needed.
The FRP tank market in India is primarily driven by the demand for safe and cost-effective storage solutions. FRP tanks offer corrosion resistance, longer life spans, and reduced maintenance costs, making them ideal for storing chemicals, water, and other liquids. The emphasis on environmental safety and stringent regulations further encourage the adoption of FRP tanks.
Challenges in the FRP tank market include concerns about the leaching of chemicals from tanks and the long-term durability of FRP tanks. Regulatory standards for FRP tank manufacturing and usage need to be established.
The COVID-19 pandemic had a mixed impact on the India FRP tank market. The lockdowns and restrictions initially disrupted the supply chain and construction activities, affecting the demand for FRP tanks. However, the market demonstrated resilience as industries recognized the importance of storage solutions that are corrosion-resistant and low-maintenance. The demand for FRP tanks in sectors like water treatment, chemicals, and wastewater management remained stable. The market also focused on sustainability by offering solutions with increased recyclability and digital monitoring for improved performance and maintenance.
Major participants in the FRP tank market include L.F. Manufacturing, Inc., Augusta Fiberglass, and Perry Fiberglass Products, Inc.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India FRP Tank Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India FRP Tank Market Revenues & Volume, 2021 & 2031F |
3.3 India FRP Tank Market - Industry Life Cycle |
3.4 India FRP Tank Market - Porter's Five Forces |
3.5 India FRP Tank Market Revenues & Volume Share, By Resin Type, 2021 & 2031F |
3.6 India FRP Tank Market Revenues & Volume Share, By Fiber Type, 2021 & 2031F |
3.7 India FRP Tank Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India FRP Tank Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for lightweight and durable storage solutions in various industries, such as water treatment, chemical processing, and oil gas. |
4.2.2 Growing awareness about the benefits of using FRP (Fiber Reinforced Plastic) tanks, such as corrosion resistance, low maintenance, and longer lifespan. |
4.2.3 Government initiatives promoting the use of eco-friendly and sustainable materials in industrial applications. |
4.3 Market Restraints |
4.3.1 High initial investment cost associated with FRP tanks compared to traditional storage solutions like metal tanks. |
4.3.2 Limited availability of skilled labor for installation and maintenance of FRP tanks. |
4.3.3 Concerns regarding the recyclability and environmental impact of FRP materials, leading to some resistance from environmentally-conscious consumers. |
5 India FRP Tank Market Trends |
6 India FRP Tank Market, By Types |
6.1 India FRP Tank Market, By Resin Type |
6.1.1 Overview and Analysis |
6.1.2 India FRP Tank Market Revenues & Volume, By Resin Type, 2021-2031F |
6.1.3 India FRP Tank Market Revenues & Volume, By Polyester & Epoxy, 2021-2031F |
6.2 India FRP Tank Market, By Fiber Type |
6.2.1 Overview and Analysis |
6.2.2 India FRP Tank Market Revenues & Volume, By Carbon , 2021-2031F |
6.2.3 India FRP Tank Market Revenues & Volume, By Glass, 2021-2031F |
6.3 India FRP Tank Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 India FRP Tank Market Revenues & Volume, By Water & Waste Water Treatment, 2021-2031F |
6.3.3 India FRP Tank Market Revenues & Volume, By Chemical, 2021-2031F |
6.3.4 India FRP Tank Market Revenues & Volume, By Oil , 2021-2031F |
6.3.5 India FRP Tank Market Revenues & Volume, By Gas, 2021-2031F |
6.3.6 India FRP Tank Market Revenues & Volume, By Pulp & Paper, 2021-2031F |
6.3.7 India FRP Tank Market Revenues & Volume, By Power, 2021-2031F |
7 India FRP Tank Market Import-Export Trade Statistics |
7.1 India FRP Tank Market Export to Major Countries |
7.2 India FRP Tank Market Imports from Major Countries |
8 India FRP Tank Market Key Performance Indicators |
8.1 Average lead time for installation of FRP tanks. |
8.2 Percentage of market share held by FRP tank manufacturers. |
8.3 Rate of adoption of FRP tanks in key industries (water treatment, chemical processing, etc.). |
8.4 Number of new product developments and innovations in the FRP tank market. |
8.5 Customer satisfaction scores related to the performance and durability of FRP tanks. |
9 India FRP Tank Market - Opportunity Assessment |
9.1 India FRP Tank Market Opportunity Assessment, By Resin Type, 2021 & 2031F |
9.2 India FRP Tank Market Opportunity Assessment, By Fiber Type, 2021 & 2031F |
9.3 India FRP Tank Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India FRP Tank Market - Competitive Landscape |
10.1 India FRP Tank Market Revenue Share, By Companies, 2024 |
10.2 India FRP Tank Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |