FRP Vessels Market to Garner $1.6 Billion by 2027: Allied Market Research

23 March 2021

Portland, OR, March 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global FRP vessels market generated $1.1 billion in 2019, and is expected to garner $1.6 billion by 2027, witnessing a CAGR of 6.4% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.

Surge in adoption in the water and waste water treatments plants and utilization in the chemical production units fuel the growth of the global FRP Vessels market. However, expensive nature of FRP vessels and regulatory guidelines restrain the market growth. Contrarily, replacement activities of steel vessels with FRP vessels in the oil and gas industry create new opportunities in the next few years.

Download Report Sample (310 Pages PDF with Insights) @

Covid-19 Scenario:

  • Manufacturing activities of FRP vessels hindered due to lockdown imposed in many countries by governments. In addition, the raw material procurement has been restrained due to transportation restrictions and ban on import and export activities.
  • Daily operations in end use industries such as automotive and transportation, industrial, chemicals, and other sectors were restricted. So, the demand decreased significantly. The demand is expected to rise steadily during the post-lockdown as activities in end use sectors get back on track.

The report offers detailed segmentation of the global FRP vessels market based on fiber type, resin, application, and region.

By fiber type, the glass fiber segment held the largest market share in 2019, accounting for more than three-fifths of the total market share, and is projected to maintain its lead position during the forecast period. Furthermore, this segment is projected to witness the highest CAGR of 6.9% from 2020 to 2027. The research also analyzes the segments including carbon fiber and others.

Get detailed COVID-19 impact analysis on the FRP Vessels Market Request Here

By resin type, the polyester segment accounted for the highest share of the market in 2019, contributing to nearly three-fifths of the global FRP Vessels market, and is expected to maintain its leadership status during the forecast period. In addition, the segment is estimated to portray the largest CAGR of 7.0% from 2020 to 2027. The research also analyzes the segments including epoxy and others.

Based on region, Asia-Pacific contributed to the largest market share, holding nearly two-fifths of the global market share in 2019, and is estimated to maintain its highest contribution in terms of revenue by 2027. In addition, this region is expected to register the fastest CAGR of 8.7% during the forecast period. The report also analyzes regions including North America, Europe, and LAMEA.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @

Leading players of the global FRP vessels market discussed in the research include Plas-Tank Industries Inc., Sainath Industrial Corporation (SIC), Group Surya, Augusta Fiberglass, TROY Dualam Inc., JRMS Engineering Works, Swami Plastic Industries, Kaymo Fiber Reinforced Plastic Manufacture Co. Ltd., Plamer, and Link Engineers.

Avenue Library Subscription | Request for 14 days free trial of before buying:

Get more information

Similar Reports:
(Pre-Book Now with 10% Discount)

Offshore Support Vessel Market - Global Opportunity Analysis and Industry Forecast, 2021-2028

Offshore Wind Turbine Installation Vessel Market - Global Opportunity Analysis and Industry Forecast, 2021-2028

Smart Oilfield Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Crude Oil Desalter Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Floating LNG Power Vessel Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Robotic Drilling Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact us:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141

International: +1-503-894-6022

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1-855-550-5975


Follow us on | Facebook | Twitter | LinkedIn 

Primary Logo