Recent report published by Research Nester on “Global FRP Dual Laminate Tank Market Outlook: Industry Insights & Opportunity Assessment 2019-2027″delivers detailed overview of the global FRP dual laminate tank market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Fiberglass Reinforced Plastics (FRP) is a composite material of construction of chemical plant equipment such as tanks and vessels. As FRP has corrosion resistance nature, a tank can be made entirely from the composite or a second liner can also be used. FRP tanks and process vessels are used in different commercial and industrial applications like chemical, water & wastewater, food & beverage, mining & metals, power, energy and high- purity applications. This is estimated to boost the growth of the global FRP dual laminate tank market over the period 2019-2027.
The market is segmented by product and application. By product segment, the petrochemical products segment is anticipated to have significant growth on account of it being corrosion resistant and safer. On the basis of product, the market is segmented into polypropylene & GRP, PVC-U & GRP, PVC-C & GRP, ECTFE & GRP and others. On the basis of application, the market is segmented into irritating chemicals, petrochemical products, high purity products and others.
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Corrosion Resistant Nature of FRP to Boost the Demand for FRP Dual Laminate Tank in Future
The global FRP dual laminate tank market is thriving on the back of the corrosion resistant nature of FRP. It is easy to repair and safer.
Economically Beneficial and Safer- As compared to field install alloy tanks, the FRP tanks require less labor, freight, smaller cranes and they are faster to install or erect. These tanks are also safe to assemble than steel tanks as they need minimal elevated work. This makes the FRP tanks economically beneficial and safer which is expected to boost the growth of the global FRP dual laminate tank market.
North America is expected to grow significantly during the forecast period attributing to the presence of FRP tanks manufacturers in the region. Asia Pacific is expected to grow significantly owing to increasing industrialization in the activities. Latin America is expected to grow on the back of increasing presence of FRP tanks manufacturer companies in the region.
Fiberglass tanks and constructs are susceptible to degradation upon long-term exposure to sunlight. This deterioration can happen due to the chemical changes which occur as a result of exposure to the ultraviolet (UV) portion of light. This degradation results in the fiberglass tanks and constructs, opening pores in the surface allowing styrene to wick out of the vessel or construct’s walls, causing them to become embrittled, reducing the impact resistance and potential elongation properties of the part. FRP is prone to buckling and can cause structural failures. These factors are expected to inhibit the growth of the global FRP dual laminate tank market.
This report also provides the existing competitive scenario of some of the key players of the global FRP dual laminate tank market which includes company profiling of Silotank, Forbes Group, Plasticon Composites, KCH Services Inc., Composite & Metal Products USA, Inc., AGRV, Thorpe, GPI Corporation, RL Industries Inc. and Polyplast Chemi-plants.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global FRP dual laminate tank market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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