Global Fiberglass Tanks Market, By Type ( E-Glass, A-Glass, S-Glass, AR-Glass, C-Glass, R-Glass, Others), Resin Type (Polyester, Vinyl Ester, Others), Usage (Water, Oil and Gas, Chemicals, Wastewater), Sales and Service (Tank Sales, Service), Application (Composite, Insulation), End Users (Commercial, Residential, Municipal, Industrial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Fiberglass Tanks Market
The fiberglass tanks market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of USD 2,790.4 million by 2028 and to grow at a CAGR of 7.2% in the above-mentioned forecast period.
Fiberglass water storage tanks (also referred as Glass Fiber Reinforced Plastic or GFRP) tanks that are generally used to store water. They are usually stiff and rigid but relatively thin and light and are highly demanded across the end users such as commercial, residential, municipal and industrial.
The factors such as change in consumer preferences among processing industries from steel and concrete storage tanks to fiberglass storage tanks are the root cause fueling up the fiberglass tanks market growth rate. Increase in awareness about fiberglass storage tanks among the users especially regarding its high structural reliability, high corrosion resistance properties, less weight, less installation costs and low price which increases its demand for aboveground storage tanks in chemical, petroleum and wastewater industries is other indirect determinant which will also foster the fiberglass tanks market growth rate. However, availability of alternatives such as concrete, plastic and steel is expected to derail growth of the fiberglass tanks market.
The fiberglass tanks are more prone to cracking and leaking because of tin walls that will further pose as a major challenge to the growth of the fiberglass tanks market.
This fiberglass tanks market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on fiberglass tanks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fiberglass Tanks Market Scope and Market Size
The fiberglass tanks market is segmented on the basis of type, resin type, usage, sales and service, application and end users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the fiberglass tanks market is segmented into e-glass, a-glass, s-glass, ar-glass, c-glass, r-glass and others.
- On the basis of resin type, the market is segmented into polyester, vinyl ester and others.
- On the basis of usage, the fiberglass tanks market is segmented into water, oil and gas, chemicals and wastewater.
- On the basis of sales and service, the market is segmented into tank sales and service.
- On the basis of application, the market is segmented into composite and insulation.
- On the basis of end users, the market is segmented into commercial, residential, municipal and industrial.
Fiberglass Tanks Market Country Level Analysis
The fiberglass tanks market is analyzed and market size, volume information is provided by type, resin type, usage, sales and service, application and end users as referenced above.
The countries covered in the fiberglass tanks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is estimated to dominate the fiberglass tanks market owing to the rise in demand for fiberglass storage tanks for residential and industrial applications in developed economies. Asia Pacific will continue to however show lucrative growth within the forecast period owing to the rise in industrialization in countries such as China, India and those in ASEAN within the region.
The country section of the fiberglass tanks market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fiberglass Tanks Market Share Analysis
The fiberglass tanks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to fiberglass tanks market.
The major players covered in the fiberglass tanks market report are Composite Technology Development, Inc., PPG Industries, Inc., Design Tanks, Denali Incorporated., NOV Inc., Enduro Composites, Russel Metals Inc., . EPP Composites Pvt Ltd, Amiblu Holding GmbH, Nationwide Tank and Pipe LLC, ANDRONACO INDUSTRIES., Enduro, Gruppo Sarplast, FIBREX., FCX Performance., Hengrun Group Co., Ltd, Graphite India Limited, ADPF, Balaji Fiber Reinforce Pvt. Ltd., Zhongfu Lianzhong Group among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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