Global Glass Fiber Reinforced Plastic Water Tank
Market Report
2024
The Global Glass Fiber Reinforced Plastic Water Tank market size is USD 1.0 billion in 2023 and will expand at a CAGR of 5.00% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Glass Fiber Reinforced Plastic Water Tank market size is USD 1.0 billion in 2023 and will expand at a CAGR of 5.00% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Glass Fiber Reinforced Plastic Water Tank Market Sales Revenue 2023 | $ 1 Billion |
Global Glass Fiber Reinforced Plastic Water Tank Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
North America Glass Fiber Reinforced Plastic Water Tank Market Sales Revenue 2023 | $ 0.4 Billion |
North America Glass Fiber Reinforced Plastic Water Tank Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4% |
Europe Glass Fiber Reinforced Plastic Water Tank Market Sales Revenue 2023 | $ 0.3 Billion |
Europe Glass Fiber Reinforced Plastic Water Tank Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.2% |
Asia Pacific Glass Fiber Reinforced Plastic Water Tank Market Sales Revenue 2023 | $ 0.22 Billion |
Asia Pacific Glass Fiber Reinforced Plastic Water Tank Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
South America Glass Fiber Reinforced Plastic Water Tank Market Sales Revenue 2023 | $ 0.05 Billion |
South America Glass Fiber Reinforced Plastic Water Tank Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
Middle East and Africa Glass Fiber Reinforced Plastic Water Tank Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.9% |
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Market Split by Application |
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Market Split by Manufacturing Process |
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List of Competitors |
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Country Analysis |
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Key Qualitative Information Covered |
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Glass Fiber Reinforced Plastic Water Tank Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The manufacturing and marketing of water storage tanks composed of a composite material consisting of glass fibers and a plastic resin matrix are the activities covered by the Glass Fiber Reinforced Plastic (GRP) Water Tank Market. GRP water tanks are renowned for their dependability, ability to withstand corrosion, and appropriateness for a range of water storage uses in commercial, industrial, and residential contexts. The market for glass fiber reinforced plastic (GRP) water tanks is expanding rapidly due to the rising need for dependable and long-lasting water storage options. Glass fiber reinforced polymer (GRP) water tanks are long-lasting, corrosion-resistant, and versatile. As the demand for effective water storage solutions rises, this market is seeing substantial adoption in a number of industries, including residential, commercial, and industrial applications. The tanks are a better option because of their lightweight design and resistance to adverse environmental conditions. The global demand for high-quality water storage solutions is being met by the GRP water tank market, which is growing as a result of companies prioritizing sustainable practices and expanding water infrastructure projects.
Compared to traditional materials like concrete or steel, the lightweight design of GRP water tanks has clear benefits, making transportation, handling, and installation simpler. Their convenience of installation makes them more appealing in a variety of contexts, especially in isolated or difficult-to-reach areas where the logistical difficulties posed by large building materials are significant. GRP water tanks are a versatile solution for logistically complex projects due to their adaptability and easy installation process, which not only streamlines the construction workflow but also makes them a practical and preferred choice in areas where transportation or accessibility constraints are common.
Growing concerns around water scarcity have increased the need for trustworthy water storage options, propelling the growth of GRP water tanks. These tanks provide an affordable and reliable substitute for storing and protecting water in a variety of environments, such as commercial, industrial, and agricultural settings. They are especially well-suited for long-term water preservation due to their lifespan and resistance to corrosion, which is in line with international water conservation goals. Given the growing importance of sustainability, GRP water tanks' dependability and efficiency make them an essential part of the solution to water management issues and the promotion of conscientious water use in a variety of international sectors.
Long-term benefits are offered by GRP water tanks, although there may be a barrier due to their initial higher production and installation costs when compared to other materials. The initial outlay could play a big role, especially in areas or initiatives with little funding. GRP water tanks have a higher initial cost, but over time, their long-term benefits, corrosion resistance, and durability often outweigh this cost. This has led to their sustained adoption in applications ranging from residential to industrial, where long-lasting, dependable water storage solutions are essential.
The COVID-19 pandemic influenced the glass fiber reinforced plastic (GRP) water tank business, causing supply chain disruptions, labor shortages, and temporary slowdowns in building and manufacturing. Nonetheless, the market has shown resiliency because water storage solutions are necessary. The pandemic increased demand by highlighting the significance of a dependable water infrastructure. The market for GRP water tanks is expected to expand as economies improve because of the growing emphasis on robust and long-lasting water storage options, particularly in light of evolving consumer preferences and a growing understanding of the necessity of safe and sustainable water management systems.
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In order to gain a competitive advantage and seize a substantial portion of the market, the major competitors adapt quickly and adopt new tactics. To serve a wide customer base and obtain a competitive advantage, the key players in the Glass Fiber Reinforced Plastic Water Tank market prioritize growing their unique offerings.
Top Companies Market Share in Glass Fiber Reinforced Plastic Water Tank Industry: (In no particular order of Rank)
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Global Glass Fiber Reinforced Plastic Water Tank Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Glass Fiber Reinforced Plastic Water Tank Industry growth. Glass Fiber Reinforced Plastic Water Tank market has been segmented with the help of its Product Type, Application Material, and others. Glass Fiber Reinforced Plastic Water Tank market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, vertical tank held the major market share over the forecast period, motivated by the growing acceptance of vertical tanks. In situations where height is crucial or where space is limited, vertical tanks provide effective water storage options. Their layout makes the best use of available space and makes installation simple. The need for adaptable and compact water storage is increasing, and vertical GRP tanks are emerging as a popular option, which is helping to drive the market's overall growth.
Horizontal tank is the fastest-growing category over the forecast period. Horizontal tanks provide flexible options for storing water, especially in situations where a low-profile design is preferred. Their horizontal orientation guarantees easy installation and effective utilization of available space. As the industry grows, horizontal GRP tanks are becoming more and more important as consumers seek more flexible and space-efficient water storage solutions.
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According to Cognitive Market Research, residential and industrial sectors hold a prominent market share. For homes, GRP tanks provide effective and long-lasting water storage options. In residential contexts, their corrosion resistance, longevity, and versatility to different installation sites make them a desirable option. The growing GRP Water Tank market is largely driven by the residential sector, which has a greater demand for space-efficient and dependable water storage solutions.
Industrial is the fastest-growing category over the forecast period. GRP tanks offer durable and anti-corrosive solutions for industrial water storage requirements. Their desirability stems from their resilience to chemicals, flexibility to different industrial situations, and durability. The market for GRP water tanks is expanding as a result of companies placing a high priority on effective water management.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Glass Fiber Reinforced Plastic Water Tank market report 2024 Edition by contacting our team.
According to Cognitive Market Research, e-glass holds a prominent market share. E-glass reinforcement, which is well-known for its strong mechanical strength and resistance to corrosion, improves the performance and longevity of GRP tanks. The market is prioritizing long-lasting and dependable water storage solutions, and the use of E-Glass in GRP tanks greatly increases the adoption of these solutions in a variety of industries and applications.
S-glass is the fastest-growing category over the forecast period; the enhanced strength and stiffness of S-Glass are well-known for improving the structural integrity and longevity of GRP tanks. The market is prioritizing high-performance and durable water storage solutions, and the use of S-Glass in GRP tanks has led to their growing use in a variety of industries and applications.
According to Cognitive Market Research, resin transfer moulding holds a prominent market share. RTM technology makes manufacturing easier and makes it possible to produce complicated, high-quality GRP tanks. The use of RTM in the construction of GRP tanks greatly aids in the market's expansion and ensures dependable and long-lasting water storage alternatives as the demand for effective water storage solutions rises.
The spray up is the fastest-growing category over the forecast period. This process makes it possible to produce GRP tanks quickly and affordably, which makes it appropriate for large-scale production. The market for GRP water tanks is growing as a result of the increasing demand for dependable water storage solutions. Spray Up technology provides a flexible and affordable production method.
As per Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue; adoption is fueled by the region's growing focus on long-lasting and ecological water storage options as well as the adaptability of GRP tanks. North America is a major factor driving the GRP Water Tank market ahead as water infrastructure projects grow, especially in the residential and commercial sectors. This is because consumers have a preference for dependable and long-lasting water storage systems.
Europe is the fastest-growing category, as the region's emphasis on creative and ecological approaches to water storage complements the qualities of GRP tanks. Growing uptake in the industrial, agricultural, and residential domains highlights Europe's contribution to driving the market. Europe is key to the growing GRP Water Tank market as water conservation becomes more popular.
The current report Scope analyzes Glass Fiber Reinforced Plastic Water Tank Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global market for Glass Fiber Reinforced Plastic Water Tank to be worth USD 1.00 billion, with North America accounting for the majority of this revenue, with a market size of USD 0.40 billion in 2023. From 2023 to 2030, the market is expected to grow at a CAGR of 4.0% and account for over 40%. The market for glass fiber-reinforced plastic (GRP) water tanks is largely driven by North America. According to the overview, there is a growing need for long-lasting and environmentally friendly water storage options, and both the residential and commercial sectors are adopting more GRP tanks. The increasing usage of GRP tanks in industrial applications, where corrosion resistance and endurance are critical, is a noteworthy aspect of this expansion. In conclusion, North America is positioned as a key player in the growing GRP Water Tank market due to its dedication to durable water infrastructure and the adaptable qualities of GRP tanks. This suggests that the region has a strong preference for long-lasting and effective water storage solutions.
According to Cognitive Market Research, the global market for Glass Fiber Reinforced Plastic Water Tank to be worth USD 1.0 billion in 2023, with a projected market value of USD 0.30 billion. The market is expected to increase at a CAGR of 4.2% from 2023 to 2030. Europe accounted for the majority of global revenue, accounting for over 30% of the total; the market for glass fiber-reinforced plastic (GRP) water tanks is being driven ahead by Europe. The market overview shows that innovative and sustainable water storage solutions are becoming more and more important and that GRP tanks are becoming increasingly popular in the residential, commercial, and agricultural markets. The growing use of GRP tanks in municipal water storage projects, where the material's durability and resistance to corrosion are essential, is a major factor fueling this expansion. In conclusion, Europe is positioned as a major influencer in the growing GRP Water Tank market due to its dedication to innovative water infrastructure and the versatility of GRP tanks. This is indicative of the growing desire for long-lasting and environmentally friendly water storage solutions.
According to Cognitive Market Research, the global market for Glass Fiber Reinforced Plastic Water Tank to be worth USD 1.0 billion and Asia Pacific to be worth USD 0.22 billion in 2023, holding a significant market share and contributing over 22% of the global revenue. The market is expected to grow at a CAGR of 6.5% from 2023 to 2030. The market for glass fiber-reinforced plastic (GRP) water tanks is largely driven by Asia Pacific. The market overview shows that there is a strong need for effective water storage solutions in a variety of industries and that GRP tanks are becoming more and more popular due to their resilience to corrosion and longevity. The widespread use of GRP tanks in agricultural applications, which meet the region's needs for water management, is a major factor driving this rise. In conclusion, the versatile qualities of GRP tanks combined with Asia Pacific's fast urbanization and growing emphasis on water infrastructure position the region as a key player in the growing GRP Water Tank market, reflecting a growing desire for dependable and sustainable water storage solutions.
According to Cognitive Market Research, the global market for Glass Fiber Reinforced Plastic Water Tank to be worth USD 1.0 billion and Latin America to be worth USD 0.05 billion in 2023, holding a significant market share and contributing over 5% of the global revenue. The market is expected to grow at a CAGR of 5.1% from 2023 to 2030. Latin America is leading the way in the market for glass fiber-reinforced plastic (GRP) water tanks. According to the market overview, there is an increasing need for robust and long-lasting water storage options, and GRP tanks are becoming more and more popular for a variety of uses. One significant market driving this expansion is the use of GRP tanks in industrial applications, where durability and resistance to corrosion are critical. In conclusion, Latin America is positioned as a major player in the growing GRP Water Tank market due to its dedication to contemporary water infrastructure and the adaptable qualities of GRP tanks. This demonstrates how the Latin American environment is moving toward long-lasting and effective water storage options for a variety of applications.
According to Cognitive Market Research, the market for glass fiber-reinforced plastic water tanks to be worth USD 1.0 billion globally in 2023. Of this, the Middle East and Africa accounted for over 3% of global revenue in 2023. The market is expected to grow at a CAGR of 4.9% from 2023 to 2030. The market for glass fiber-reinforced plastic (GRP) water tanks is expanding, and the Middle East and Africa are crucial to this expansion. According to the market overview, there is an increasing need for durable and environmentally friendly water storage options, and GRP tanks are becoming more and more popular in the commercial, industrial, and residential domains. The use of GRP tanks in significant infrastructure projects, where their lifespan and resistance to corrosion are essential, is a major factor driving this expansion. In conclusion, the Middle East and Africa are well-positioned to benefit from the growing demand for dependable and effective water storage solutions across a wide range of applications in the region, thanks to their emphasis on contemporary water management infrastructure and the versatility of GRP tanks.
Senior Research Analyst at Cognitive Market Research
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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Glass Fiber Reinforced Plastic Water Tank Market is witnessing significant growth in the near future.
In 2023, the Vertical Tank segment accounted for noticeable share of global Glass Fiber Reinforced Plastic Water Tank Market and is projected to experience significant growth in the near future.
The Commercial segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Belco , Augusta Fiberglass (AFC) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Product Type | Vertical Tank, Horizontal Tank, Other |
Application | Commercial, Residential, Industrial |
Material | E-Glass, S-Glass, Other |
Manufacturing Process | Hand Lay-Up, Spray Up, Resin Transfer Moulding, Other |
List of Competitors | Belco, Design Tanks, Augusta Fiberglass (AFC), Belding Tank, Ventura Fibre, FRP Manufacturing, BSF FRP Industries, Kshama Agro Industries, Balaji Fibre Glass, SSK Fibre, Dakle |
This chapter will help you gain GLOBAL Market Analysis of Glass Fiber Reinforced Plastic Water Tank. Further deep in this chapter, you will be able to review Global Glass Fiber Reinforced Plastic Water Tank Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Glass Fiber Reinforced Plastic Water Tank Market Trends North America Glass Fiber Reinforced Plastic Water Tank Technological Road Map North America Glass Fiber Reinforced Plastic Water Tank Market Drivers North America Glass Fiber Reinforced Plastic Water Tank Market Restraints North America Glass Fiber Reinforced Plastic Water Tank Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Material Analysis 2019 -2031
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Chapter 13 Market Split by Manufacturing Process Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Glass Fiber Reinforced Plastic Water Tank market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Vertical Tank have a significant impact on Glass Fiber Reinforced Plastic Water Tank market? |
What are the key factors affecting the Vertical Tank and Horizontal Tank of Glass Fiber Reinforced Plastic Water Tank Market? |
What is the CAGR/Growth Rate of Commercial during the forecast period? |
By type, which segment accounted for largest share of the global Glass Fiber Reinforced Plastic Water Tank Market? |
Which region is expected to dominate the global Glass Fiber Reinforced Plastic Water Tank Market within the forecast period? |
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