Press release
Global FRP Vessels Market 2023: By Size, Share, CAGR, Trends And Growth Forecast To 2032
FRP Vessels Market
FRP Vessels Market Size, Growth Rate, And Forecast
The global FRP vessels market is expected to grow from $2.90 billion in 2022 to $3.13 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The FRP vessels market is expected to grow to $4.14 billion in 2027 at a CAGR of 7.2%.
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FRP Vessels Market Drivers
Increasing demand for alternative fuel vehicles is expected to propel the growth of the FRP vessels market going forward. Alternative fuel vehicles (AFVs) are automobiles that use alternative fuels besides regular gasoline or diesel. For use in vehicles, alternative fuels include ethanol, electricity (including solar electricity), and biodiesel. FRP vessels are utilized to create a variety of electric vehicle parts, and their higher strength and low weight are beneficial for increased fuel efficiency and longer component life.
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FRP Vessels Market Segments
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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the FRP Vessels Market.
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FRP Vessels Market Key Players
Major competitors in the FRP Vessels Market include Sainath Industrial Corporation, Plas-Tank Industries Inc., Augusta Fiberglass, Group Surya, JRMS Engineering Works, Troy Dualam Inc., Kaymo Fiber Reinforced Plastic Manufacture Co. Ltd., Swami Plast Industries, Palmer Manufacturing and Tank Inc., Link Engineers, Hexagon Composites ASA, Faber Industrie SpA, Denali Incorporated, Quantum Fuel Systems LLC, and National Oilwell Warco
The Business Research Company's "Global FRP Vessels Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The FRP Vessels Market Include:
1. Executive Summary
2. FRP Vessels Market Characteristics
3. FRP Vessels Market Trends And Strategies
4. FRP Vessels Market - Macro Economic Scenario
5. FRP Vessels Market Size And Growth
.......
26. Africa FRP Vessels Market
27. FRP Vessels Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The FRP Vessels Market
29. FRP Vessels Market Future Outlook and Potential Analysis
30. Appendix
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