Paper, Plastics, Rubber, Wood And Textile

Global FRP Tank Industry Trends: Where the Market Is Headed by 2029

November 13, 2025 by The Business Research Company

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#How Is The FRP Tank Market Size Likely To Evolve From 2025 Through 2034?#_x000D_

The FRP tank market has expanded steadily in recent years. It is expected to increase from $2.47 billion in 2024 to $2.59 billion in 2025, at a CAGR of 4.9%. The historic growth was supported by the demand for corrosion-resistant materials, regulatory compliance, cost-effectiveness, the growth of the chemical processing industry, rising needs in water and wastewater treatment, urbanization, and population growth._x000D_

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The market for Fiberglass Reinforced Plastic (FRP) tanks is projecting considerable expansion over the ensuing years, aiming for a valuation of $3.3 billion by the year 2029, driven by a Compound Annual Growth Rate (CAGR) of 6.2%; this upward trajectory in the projected timeframe is largely fueled by the widening scope of water desalination facilities, increased governmental capital outlay towards essential infrastructure, the enforcement of rigorous ecological standards, a heightened emphasis on materials demonstrating superior resistance to chemical corrosion, and a growing recognition of the fiscal advantages associated with their extended operational life. Key developments anticipated during this forecast interval encompass the proliferation of bespoke, highly specific product offerings, breakthroughs in the formulation of resin substances, ample latitude for personalized fabrication and structural configuration, improvements in the techniques used for production, the inherent quality of requiring minimal upkeep coupled with an extended service duration, and the incorporation of intelligent monitoring systems._x000D_

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#Which Major Market Drivers Are Shaping The Future Of The FRP Tank Market?#_x000D_

Anticipated increases in the need for facilities storing petroleum and natural gas are projected to fuel the expansion of the Fiber Reinforced Plastic (FRP) tank sector in the future. Petroleum and natural gas storage encompasses ground-level or subterranean tanks and terminals dedicated to holding produced oil and gas. Within the energy sector, FRP tanks serve the crucial role of bulk containment for liquids across different phases of refinement. These containment units are often utilized for the temporary safeguarding of products immediately prior to their dispatch for subsequent refining steps. Illustratively, data released in June 2023 by the US Energy Information Administration, a federal body responsible for statistical analysis, showed projections for global oil consumption to climb 6% across the 2022 to 2028 period, culminating in 105.7 million barrels daily, concurrently, worldwide capital outlays for upstream activities involving oil and gas surveying, obtaining, and output are scheduled for an 11% annual surge, setting a new peak of USD 528 billion in 2023; consequently, this escalating requirement for oil and gas safeguarding infrastructure is the primary impetus behind the FRP tank market’s upward trajectory._x000D_

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#What Are The Primary Types Of Segments Analyzed In The FRP Tank Market?#_x000D_

The frp tank market covered in this report is segmented – _x000D_

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1) By Resin Type: Polyester, Epoxy, Other Resin Types_x000D_

2) By Fiber Type: Carbon Fiber, Fiberglass_x000D_

3) By Application: Water Or wastewater, Septic, Pulp And Paper, Chemical, Petroleum, Agriculture And Aquaculture, Other Applications_x000D_

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Subsegments:_x000D_

1) By Polyester: Unsaturated Polyester, Orthophthalic Polyester, Isophthalic Polyester _x000D_

2) By Epoxy: Bisphenol A Epoxy, Novolac Epoxy, Glycidyl Epoxy _x000D_

3) By Other Resin Types: Vinyl Ester, Phenolic, Polyurethane _x000D_

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#How Are Emerging Market Trends Shaping The FRP Tank Industry Landscape?#_x000D_

A significant current sweeping through the Fiber Reinforced Plastic (FRP) tank sector involves a strong emphasis on the introduction of novel products, with leading firms actively prioritizing the creation of advanced offerings to solidify their competitive standing within the arena. Illustratively, in August of 2023, OPW, an American enterprise specializing in meticulously engineered systems for the secure, efficient, and ecological management of clean cryogenic and industrial fluids and gases during production, containment, transfer, and transit, publicly introduced the TSE Tank Sump, highlighting its utilization of the Sheet-Molded Compound (SMC) fabrication technique, which guarantees superior standard, swift fulfillment times, and excellent cost-effectiveness. This TSE Tank Sump presents itself as a straightforward secondary containment option perfectly suited for fuel vendors, distinguished by its uniformly thick and polished walls that establish an uncompromising, water-tight barrier. Furthermore, its sleek surfaces promote superior adhesion with attachment hardware, effectively precluding seepage and exhibiting resilience against deformation. The product offers versatility through its choice of two distinct mounting configurationsone utilizing a collar-ring and the other a solid baseand is supported by available sealing kits, thereby simplifying the setup and upkeep processes, ultimately furnishing retail fuel operations with a dependable and uncomplicated storage infrastructure._x000D_

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#Which Leading Players Are Enhancing Their FRP Tank Market Presence Worldwide?#_x000D_

Major companies operating in the FRP tank market include Shawcor Ltd., Enduro Composites Inc., LF Manufacturing Inc., Amiantit Fiberglass Industries Limited, Future Pipe Industries LLC, Luxfer Group Limited, Hexagon Composites ASA, EPP Composites Pvt Ltd., SELIP s.p.a., ZCL Composites, Fiber Tech Composite Private Limited, Ashland Inc., Huntsman Corporation, Augusta Fiberglass Coatings Inc., BEPeterson Inc., Belco Manufacturing Company Inc., Belding Tank Technologies Inc., Design Tanks LLC, Diamond Fiberglass LLC, Ershigs Inc., Fiber Glass Systems LLC, Hamilton Kent LLC, Harwal Group of Companies, Palmer of Texas, Perry Fiberglass Products Inc., Plas-Tanks Industries Inc., Precision Tank & Equipment Co., Snyder Industries LLC, Xerxes Corporation, GRP Water Tanks LLC, Megha Pro Tech Systems Pvt Ltd. _x000D_

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https://www.thebusinessresearchcompany.com/report/frp-tank-global-market-report_x000D_

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#Which Regional Markets Are Contributing Most To The FRP Tank Industry Expansion?#_x000D_

Asia-Pacific was the largest region in the FRP tank market in 2024 and is expected to be the fastest-growing region in the FRP tank market during the forecast period. The regions covered in the FRP tank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_

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