U.S. Fiberglass Tanks Market Size Forecast to Reach USD 1.3 Billion by 2034, Driven by Rising Demand for Corrosion-resistant Storage Solutions - Transparency Market Research

U.S. Fiberglass Tanks Market Size and Outlook 2034

The U.S. fiberglass tanks market was valued at US$ 618.9 Mn in 2023 and is projected to reach US$ 1.3 Bn by 2034, expanding at a strong CAGR of 6.8% from 2024 to 2034. The market is experiencing robust growth due to rising demand for corrosion-resistant, lightweight, and cost-efficient storage solutions across sectors such as water treatment, chemicals, oil & gas, wastewater management, agriculture, and fire protection systems.

Fiberglass-reinforced plastic (FRP) tanks are increasingly replacing steel and concrete tanks owing to their superior durability, long lifespan, low maintenance, and excellent resistance to chemicals, UV exposure, and environmental degradation.

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Market Overview

Fiberglass tanks are widely used for storing water, chemicals, fuels, wastewater, and industrial liquids. In the U.S., demand is rising rapidly due to strict environmental regulations, growing infrastructure modernization, and increasing industrial fluid-handling requirements. Government emphasis on upgrading water treatment plants, wastewater management systems, and chemical storage safety is accelerating adoption.

Industries are choosing FRP tanks due to:
• High corrosion resistance in harsh environments
• Lower lifecycle costs compared to metal tanks
• Flexibility in design, shape, and installation
• Superior mechanical strength and thermal resistance

The growing shift toward sustainable materials and reliable long-term storage solutions is further boosting the market.

Market Description

Fiberglass-reinforced tanks are produced using advanced composites that combine glass fibers with high-performance resins. These tanks demonstrate exceptional resistance to corrosive chemicals, making them ideal for wastewater treatment, industrial chemical storage, petroleum products, fire suppression systems, and agricultural water reservoirs.

Technological advancements such as filament winding, dual-laminate construction, and customized resin formulations are improving tank performance and enabling manufacturers to cater to diverse industrial specifications. In the U.S., increased investment in municipal infrastructure and the rising need for safe chemical handling systems are major demand drivers.

Additionally, industries are increasingly preferring underground FRP tanks for fuel storage due to their leak-proof design, corrosion resistance, and compliance with environmental regulations.

Analysis of Key Players in the U.S. Fiberglass Tanks Market

Leading companies in the U.S. fiberglass tanks market focus on advanced manufacturing processes, product customization, and compliance with stringent standards such as UL, NSF, and EPA guidelines. Strategic expansions, acquisitions, and technological innovation are shaping the competitive landscape.

Key players include:
• Xerxes Corporation
• National Oilwell Varco (NOV)
• LF Manufacturing
• Palmer Manufacturing & Tank Inc.
• Red Ewald
• Augusta Fiberglass
• Granby Industries
• Design Tanks
• GSC Tanks
• Endurance Composites, LLC
• Canwest Tank & Ecological Systems Ltd.
• BARSKI INDUSTRIES LTD
• Others
These companies are profiled in the market research report based on capacity, product portfolio, manufacturing expertise, regulatory certifications, and recent strategic developments.

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Key Developments in the Market

• On April 25, 2024, Granby Industries, a leader in liquid storage solutions, announced the launch of its new line of ULC-2258 certified fiberglass day tanks, designed specifically for generator sets. These tanks offer exceptional durability and unmatched corrosion resistance, marking a significant advancement in safe liquid storage. This innovative product line underscores Granby Industries' commitment to quality and safety in the storage solutions industry.
• On May 17, 2023, Xerxes, a subsidiary of Shawcor Ltd., renowned for manufacturing fiberglass-reinforced plastic underground storage tanks, announced plans to establish its first South Carolina operations in Richland County. The company will lease a new production facility in Blythewood to enhance its capacity for delivering market-leading underground fuel and water storage tanks. The new production center is scheduled to be operational by the end of 2024, marking a significant expansion of Xerxes' manufacturing capabilities and presence in the region.

Key Player Strategies

• Product Innovation: Developing tanks with enhanced corrosion resistance and tailor-made designs.
• Regulatory Compliance: Meeting EPA, UL, ASME, and NSF standards for safety and environmental compliance.
• Capacity Expansion: Investing in new facilities and production lines to meet rising demand.
• Sustainability Focus: Using eco-friendly resins and recyclable composite materials.
• Industry Partnerships: Collaborating with engineering firms, EPC contractors, and municipal authorities.

Market Challenges

• Volatile prices of raw materials such as resin and glass fiber.
• High initial investment for large-capacity tanks.
• Competition from polyethylene and steel tanks in certain cost-sensitive sectors.
• Need for strict compliance with environmental and safety regulations.

Market Opportunities

• Rapid modernization of U.S. water & wastewater treatment infrastructure.
• Growing adoption of FRP tanks for chemical and hazardous material storage.
• Rising demand for corrosion-resistant tanks in oil & gas and mining sectors.
• Increased use of FRP tanks in fire protection and rainwater harvesting systems.
• Expanding agricultural and irrigation applications across rural America.

Market Segmentations
By Type

• Aboveground Fiberglass Tanks
• Underground Fiberglass Tanks
• Horizontal & Vertical Tanks
• Single-wall & Double-wall Tanks

By Application

• Water & Wastewater Storage
• Chemical Storage
• Fuel & Petroleum Storage
• Fire Protection
• Agriculture & Irrigation
• Industrial Liquid Handling
• Septic & Sewer Systems

By End User

• Municipal & Government
• Chemical & Petrochemical Companies
• Oil & Gas
• Agriculture
• Food & Beverage
• Manufacturing Industries
• Commercial Facilities

By Region (U.S.)

• Northeast
• Midwest
• South
• West

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Why Buy This Report?

• Detailed market analysis and growth projections through 2034.
• In-depth segmentation across tank types, applications, and end users.
• Comprehensive competitive landscape with profiling of leading manufacturers.
• Insights into regulatory frameworks affecting tank production and installation.
• Actionable recommendations for market entry and expansion strategies.

Conclusion

The U.S. fiberglass tanks market is poised for healthy expansion as industries seek durable, corrosion-resistant, and cost-effective storage solutions. With rising investments in water treatment, chemical processing, agriculture, and petroleum storage, FRP tanks are emerging as the preferred choice across industrial and municipal sectors. While challenges such as raw material cost fluctuations exist, innovations in resin systems, filament winding technologies, and advanced composite designs are strengthening the market outlook through 2034.

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