The Fiber Reinforced Plastic Vessels Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Fiber Reinforced Plastic Vessels Market?
The market size for fiber reinforced plastic vessels has seen substantial growth recently. The market, valued at $3.64 billion in 2024, is projected to increase to $4.02 billion in 2025, translating to a compound annual growth rate (CAGR) of 10.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Fiber Reinforced Plastic Vessels Industry?
The Fiber Reinforced Plastic Vessels Global Market is projected to reach a market size of $6.03 billion in 2029, with a compound annual growth rate (CAGR) of 10.7%.
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What are the Key Growth Drivers Fueling the Fiber Reinforced Plastic Vessels Market?
The key drivers in the fiber reinforced plastic vessels market are:
• Expansion of the chemical industry
• Increasing infrastructure upgrades
• Ongoing focus on cost-effectiveness
• Growth of water treatment facilities and adoption in the oil and gas sectors
Global Market Segmentation: Identifying Major Fiber Reinforced Plastic Vessels Industry Segments
The fiber reinforced plastic vessels market covered in this report is segmented –
1) By Type: Glass Fiber, Carbon Fiber, Aramid Fiber, Other Types
2) By Resin: Polyester, Epoxy, Polyurethane, Other Resins
3) By Distribution Channel: Online, Offline
4) By Application: Automotive And Transportation, Water And Wastewater, Chemical, Industrial, Oil And Gas, Other Applications
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What are the Emerging Trends Shaping the Future of the Fiber Reinforced Plastic Vessels Market?
The key trends in the polyolefin pipes market are:
• The market is increasingly influenced by the use of advanced composite technologies.
• The trend of developing smart vessels is shaping the future market outlook.
• There is an emerging trend of customization and modular design in the sector.
• A shift towards lightweight and high-strength materials is a significant market driver.
Who Are the Top Competitors & Leading Players in the Fiber Reinforced Plastic Vessels Market?
Major companies in the fiber reinforced plastic vessels market are:
• Sainath Industrial Corporation
• TROY Dualam Inc.
• Swami Plastic Industries
• Augusta Fiberglass Coating Inc.
• Worthington Industries Inc.
• AVANCO GmbH
• Cevotec Gmbh
• Enduro Composites Inc.
• EPP Composites Pvt Ltd.
• Faber Industrie SPA
• Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
• Nproxx BV
• Quantum Fuel Systems Technologies Worldwide Inc.
• ZCL Composites Inc.
• Luxfer Group Ltd.
• Hexagon Composites ASA
• Everest Kanto Cylinder Ltd.
• B & D Plastics LLC
• Belco Manufacturing Co Inc.
• 3A Composites USA Inc.
• Diamond Fiberglass Fabricators Inc.
• Fiberglass Tank & Pipe Institute
• Fibrelite Composites Ltd.
• Fibrex Pvt Ltd.
• Fisher Tank Company
Regional Dominance: Which Area Leads the Global Fiber Reinforced Plastic Vessels Market?
Asia-Pacific was the largest region in the fiber reinforced plastic vessels market in 2024
