Summary

The future of the North American FRP tank market looks promising with opportunities in water/wastewater, septic, pulp and paper, chemical, petroleum, and agriculture/aquaculture applications. The North American FRP tank market is expected to decline in 2020 due to global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $0.9 billion by 2026 with a CAGR of 4.3% from 2021 to 2026. The major drivers of growth for this market are increasing use of composites products over metals, steel, and concrete made tanks due to high strength, greater corrosion resistance, and faster manufacturing process.

Emerging trends, which have a direct impact on the dynamics of the industry, includes innovation and development of new application areas to accelerate the growth, and development of new materials to provide sustainable solutions to the user industries.

A total of 72 figures / charts and 52 tables are provided in this 148-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the North American FRP tank market report, please download the report brochure.

The study includes a forecast for the North American FRP tank market by application, type, process, and by country as follows

By Application [Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026]:
• Water/wastewater
• Septic
• Pulp and Paper
• Chemical
• Petroleum
• Agriculture/Aquaculture
• Others

By Type [Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026]:
• Under Storage Tank
• Above Storage Tank

By Process [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
• Filament Winding
• Centrifugal Casting
• Lay-Up and Spray-Up

By Country [Value ($M) and Volume (M lbs) shipment analysis from 2015 to 2026]:
• Eastern Canada
• Eastern US
• Central US
• Western US
• Western Canada
• Texas ,OK,LA

In this market, under storage tank, and above storage tank are the tank types. Lucintel forecasts that above storage tank is expected to remain the largest segment due to its increasing use in the chemical and water/wastewater application.
Within the North American FRP tank market, petroleum segment will remain the largest application by value and volume and it is expected to witness the highest growth during the forecast period due to increasing use of petroleum and natural gases as source of energy in USA.

Containment Solutions, ZCL Composites, Belco Manufactuirng, L.F. Manufacturing, and Orenco are among the major suppliers of FRP tank in the North American FRP tank market.

Features of the North American FRP Tank Market
• Market Size Estimates: North American FRP tank market size estimation in terms of value ($M) shipment and volume (M lbs).
• Trend And Forecast Analysis: North American FRP tank market trends (2015-2020) and forecast (2021-2026) by various segments and country.
• Segmentation Analysis:North American FRP tank market size by various segments, such as application, type, and process in terms of value and volume shipment.
• Country Analysis: North American FRP tank market breakdown by Eastern Canada, Eastern US, Central US, Western US, Western Canada and Texas ,OK,LA.
• Growth Opportunities: Analysis on growth opportunities in different application, type, process, and by country for the North American FRP tank market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the North American FRP tank market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the North American FRP tank market as by application (water/wastewater, septic, pulp and paper, chemical, petroleum, agriculture/aquaculture, and others), type (under storage tank, and above storage tank), process (filament winding, centrifugal casting, lay-up and spray-up), and Country (Eastern Canada, Eastern US, Central US, Western US, Western Canada, and Texas ,OK,LA)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which country will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the North American FRP tank market?
Q.5 What are the business risks and threats to the North American FRP tank market?
Q.6 What are emerging trends in this North American FRP tank market and the reasons behind them?
Q.7 What are some changing demands of customers in the North American FRP tank market?
Q.8 What are the new developments in the North American FRP tank market? Which companies are leading these developments?
Q.9 Who are the major players in the North American FRP tank market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the North American FRP tank market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the North American FRP tank market?

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