The FRP 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 FRP Vessels Market?
The market size of FRP vessels has experienced a significant increase in recent years. The market value was $3.36 billion in 2024 and is projected to reach $3.63 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the FRP Vessels Industry?
The FRP Vessels market is predicted to expand to a worth of $5 billion by 2029, with an estimated compound annual growth rate (CAGR) of 8.4%.
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What are the Key Growth Drivers Fueling the FRP Vessels Market?
The key drivers in the frp vessels market are:
• Growing environmental concerns
• Advancements in composite technologies
• Expansion of the renewable energy sector
• Increase in water treatment demands and infrastructure development in emerging markets
Global Market Segmentation: Identifying Major FRP Vessels Industry Segments
The FRP vessels market covered in this report is segmented –
1) By Fiber: Glass, Carbon, Other Fibers
2) By Resin: Polyester, Epoxy, Other Resins
3) By Applications: Automotive And Transportation, Chemicals, Industrial, Oil And Gas, Water And Wastewater, Other Applications
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What are the Emerging Trends Shaping the Future of the FRP Vessels Market?
The key trends in the frp vessels market are:
• Notable trend includes a focus on creating lightweight FRP vessel designs.
• Incorporation of smart monitoring systems is a significant emerging trend.
• Use of FRP vessels in the oil and gas industry is becoming increasingly popular.
• Environmental sustainability considerations are shaping future market trends.
Who Are the Top Competitors & Leading Players in the FRP Vessels Market?
Major companies in the frp vessels market are:
• Belco Manufacturing Co.
• Augusta Fiberglass Coatings Inc.
• Enduro Composites Inc.
• ZCL Composites Inc.
• Hengrun Group Co. Ltd.
• RL Industries
• Denali Incorporated
• L.F. Manufacturing Inc.
• EPP Composites Pvt. Ltd.
• Composite Advantage LLC
• Cekaseal Composite
• CMI Composites
• CGH Belgium Group
• Watts Water Technologies Inc.
• Plasticon Composites
• Ashland Global Holdings Inc.
• Ershigs Inc.
• National Oilwell Varco Inc.
• Continental Steel & Tube Co.
• Industrial Plastic Systems Inc.
• Beijing Zhongxing Shiqiang Fiberglass Reinforced Plastic Co. Ltd.
• Composites USA
• Amiblu Holding GmbH
• Shreya Industries
• Balaji Fiber Reinforce Pvt. Ltd.
• KCH Services Inc.
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the FRP vessels market share in 2024
