FRP Tank Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 3.97 Billion
CAGR (2026-2031)	5.71%
Fastest Growing Segment	Glass
Largest Market	Asia Pacific
Market Size (2031)	USD 5.54 Billion

Market Overview

The Global FRP Tank Market will grow from USD 3.97 Billion in 2025 to USD 5.54 Billion by 2031 at a 5.71% CAGR. Fiber Reinforced Plastic (FRP) tanks are composite containment vessels engineered by reinforcing a polymer matrix with high-strength fibers, typically glass or carbon, to deliver superior structural integrity and chemical resistance. The market is fundamentally supported by the imperative need for durable, non-corrosive storage solutions in the water and wastewater treatment sectors, alongside the industrial requirement for lightweight alternatives to traditional steel and concrete vessels. These core drivers ensure sustained demand for FRP solutions in harsh operating environments where longevity and reduced maintenance are critical priorities.

However, the industry faces a significant challenge regarding the volatility of raw material prices and regional economic instability, which can disrupt supply chains and inflate production costs for manufacturers. This economic unpredictability often delays capital-intensive infrastructure projects that utilize these storage systems. According to the Federation of Reinforced Plastics (AVK), in 2024, the volume of the global composites market totaled 13.5 million tonnes. This figure highlights that while the broader composite sector continues to expand, manufacturers must navigate complex economic pressures to convert this volume into specific gains within the storage tank segment.

Key Market Drivers

The expansion of global water and wastewater treatment infrastructure is the primary force propelling the FRP tank market. Governments worldwide are heavily investing in upgrading aging municipal systems and establishing new networks to manage rapid urbanization, necessitating storage solutions that offer superior corrosion resistance compared to traditional concrete or steel. FRP tanks are increasingly specified for these projects due to their ability to withstand harsh chemical treatment processes and ensure leak-proof containment over long service lifecycles. This infrastructure boom is particularly evident in Asia; according to the Ministry of Water Resources of China, December 2024, national investment in water conservancy construction reached a record high of 1.35 trillion yuan for the year. Such massive capital injections directly correlate to increased procurement of composite vessels for filtration, sedimentation, and chemical dosing applications.

Simultaneously, the growing need for sustainable biofuel and renewable energy storage is reshaping market demand, particularly for high-pressure applications like hydrogen transport. As the energy sector transitions toward decarbonization, manufacturers are prioritizing lightweight fiber-reinforced vessels that can safely contain volatile gases at high pressures, a critical requirement for mobile and stationary energy infrastructure. This shift is driving significant revenue gains for specialized composite manufacturers. According to Hexagon Purus, November 2024, in the 'Q3 2024 Interim Report', the company generated record-high quarterly revenue of NOK 544 million, largely driven by hydrogen infrastructure demand. The broader industry health supports this niche growth; according to Composites UK, in 2024, the total value of the sector reached £14.007 billion, reflecting the widening industrial reliance on advanced composite materials.

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Key Market Challenges

The volatility of raw material prices and regional economic instability create a precarious environment for the Global FRP Tank Market, directly impeding its expansion. Manufacturers rely heavily on petroleum-based resins and glass fibers, meaning that fluctuations in global oil prices significantly destabilize production costs. When input costs spike unpredictably, it becomes difficult for suppliers to maintain fixed pricing for long-term infrastructure projects, leading to margin erosion or cancelled contracts. Furthermore, economic uncertainty often causes municipalities and industrial clients to freeze capital expenditure on water treatment and chemical storage facilities, effectively stalling demand for new containment solutions.

This impact is evident in major industrial regions where economic headwinds have severely contracted output. According to the Federation of Reinforced Plastics (AVK), in 2024, the European market for fiber-reinforced plastics declined by 5.6% to a total volume of 2.416 million tonnes, largely due to structural weaknesses in the construction and infrastructure sectors. This contraction demonstrates how regional instability and high operating costs directly hamper the FRP tank sector's growth potential, preventing the industry from fully capitalizing on the broader global expansion of composites.

Key Market Trends

Manufacturers are increasingly embedding sensors and IoT connectivity into FRP tanks to enable real-time tracking of fluid levels, temperature, and pressure, facilitating predictive maintenance and leak detection. This digital transformation allows operators in chemical processing and water treatment facilities to transition from reactive repairs to proactive asset management, significantly reducing downtime and environmental risk. The feasibility of such critical remote monitoring is heavily dependent on the reliability of the underlying connectivity infrastructure which has matured sufficiently to support industrial-grade applications. According to Semtech, February 2025, in the 'Cellular IoT Solutions 2024 Recap', their global network operations achieved a 99.95% uptime in 2024 using AI-enabled detection, illustrating the robust industrial connectivity now available to support continuous tank data transmission.

There is a growing shift toward sustainable manufacturing through the use of eco-friendly, bio-based resins and recycled composite materials to reduce the carbon footprint of tank production. This trend is driven by stringent environmental regulations and corporate net-zero goals, prompting raw material suppliers to innovate high-performance alternatives to traditional petroleum-based matrices that do not compromise chemical resistance. Evidence of this material evolution is visible in the recent commercialization of low-carbon inputs; according to Arkema, November 2024, in the 'Arkema Focuses on Many Paths to Sustainability and Innovation at Formnext 2024' press release, the company launched a new range of bio-attributed resins that offer a carbon footprint reduction of up to 40% compared to fossil-based equivalents, directly enabling the production of lower-carbon composite vessels.

Segmental Insights

Glass fibers represent the fastest-growing segment within the global FRP tank market due to their optimal balance of structural integrity and economic efficiency. These materials offer superior corrosion resistance and high strength, making them essential for applications in water treatment and chemical processing. The demand is further reinforced by strict compliance with safety codes from entities like the American Society of Mechanical Engineers, which mandate durable storage solutions. Consequently, industries prefer glass composites over carbon alternatives to minimize operational costs while maintaining high performance in harsh environments.

Regional Insights

Asia Pacific maintains a leading position in the global FRP tank market, driven by rapid industrial expansion across major economies like China and India. The region demonstrates extensive demand for storage solutions within the water and wastewater treatment sectors, necessitated by ongoing urbanization and infrastructure projects. Additionally, compliance with environmental standards enforced by agencies such as the Central Pollution Control Board accelerates the adoption of durable, corrosion-resistant tanks for chemical and waste management. The presence of an established manufacturing base and accessible raw materials further strengthens the region's ability to supply these essential industrial components.

Recent Developments

In December 2024, Infinite Composites announced a Cooperative Research and Development Agreement (CRADA) with Oak Ridge National Laboratory to advance the manufacturing technology for hydrogen storage tanks. The collaboration focused on optimizing the company's composite pressure vessels to operate at 700 bar pressure and surpassing current gravimetric efficiency targets. The research project aimed to develop new barrier materials and utilize additive manufacturing techniques to improve production rates and performance. This partnership was established to address the challenges of long-term hydrogen storage and to support the scaling of lightweight composite tank solutions for the energy sector.
In October 2024, Kraft Tank Corporation introduced the Omni Composite Tank Trailer to the North American market, developed in collaboration with an Australian composite technology developer. This innovative tank trailer featured a patented "tank-within-a-tank" system, combining a seamless thermoplastic inner layer with a high-strength carbon fiber reinforced polymer outer structure. The design utilized advanced composite materials to reduce weight and increase payload capacity while ensuring high resistance to corrosive chemicals. The launch highlighted the integration of specialized air ride suspension systems to enhance performance and durability during the transport of hazardous materials.
In April 2024, Granby Industries launched a new line of fiberglass day tanks designed specifically for generator sets. These tanks were certified to ULC-2258 standards and were engineered to provide exceptional durability and corrosion resistance for safe liquid storage. The new product line featured a lightweight design that was approximately 50% lighter than traditional steel tanks, which facilitated easier transportation and installation. The company emphasized that the fiberglass construction offered superior UV resistance and longevity, significantly reducing maintenance requirements for fuel storage applications in industrial settings.
In January 2024, Hexagon Purus raised approximately 1 billion Norwegian Krone (NOK) to support its global capacity expansion program and fulfill customer commitments. The company utilized these funds to ramp up production at its five newly opened facilities located in the United States, Canada, Germany, and China. This strategic move was aimed at preparing for serial production of zero-emission mobility and hydrogen infrastructure solutions. The investment also facilitated the scaling of its organization to meet the growing demand for compressed hydrogen type 4 composite cylinders and battery systems.

Key Market Players

ZCL Composites Inc.
Luxfer Holdings PLC
Denali Incorporated
Enduro Composites Inc.
Faber Industrie SPA
EPP Composites Pvt. Ltd.
Hexagon Composites ASA
LF Manufacturing Inc
Composite Technology Development Inc.
Hexagon Composite Engineering Sdn Bhd

By Resin Type	By Fiber Type	By End User	By Region
Polyester Vinyl Ester Epoxy Others	Carbon and Glass	Chemical Pulp & Paper Oil & Gas Power Water/Wastewater Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global FRP Tank Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

FRP Tank Market, By Resin Type:

Polyester
Vinyl Ester
Epoxy
Others

FRP Tank Market, By Fiber Type:

Carbon and Glass

FRP Tank Market, By End User:

Chemical
Pulp & Paper
Oil & Gas
Power
Water/Wastewater
Others

FRP Tank Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global FRP Tank Market.

Available Customizations:

Global FRP Tank Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global FRP Tank Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global FRP Tank Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Resin Type (Polyester, Vinyl Ester, Epoxy, Others)

5.2.2. By Fiber Type (Carbon and Glass)

5.2.3. By End User (Chemical, Pulp & Paper, Oil & Gas, Power, Water/Wastewater, Others)

5.2.4. By Region

5.2.5. By Company (2025)

5.3. Market Map

6. North America FRP Tank Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Resin Type

6.2.2. By Fiber Type

6.2.3. By End User

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States FRP Tank Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Resin Type

6.3.1.2.2. By Fiber Type

6.3.1.2.3. By End User

6.3.2. Canada FRP Tank Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Resin Type

6.3.2.2.2. By Fiber Type

6.3.2.2.3. By End User

6.3.3. Mexico FRP Tank Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Resin Type

6.3.3.2.2. By Fiber Type

6.3.3.2.3. By End User

7. Europe FRP Tank Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Resin Type

7.2.2. By Fiber Type

7.2.3. By End User

7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. Germany FRP Tank Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Resin Type

7.3.1.2.2. By Fiber Type

7.3.1.2.3. By End User

7.3.2. France FRP Tank Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Resin Type

7.3.2.2.2. By Fiber Type

7.3.2.2.3. By End User

7.3.3. United Kingdom FRP Tank Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Resin Type

7.3.3.2.2. By Fiber Type

7.3.3.2.3. By End User

7.3.4. Italy FRP Tank Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Resin Type

7.3.4.2.2. By Fiber Type

7.3.4.2.3. By End User

7.3.5. Spain FRP Tank Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Resin Type

7.3.5.2.2. By Fiber Type

7.3.5.2.3. By End User

8. Asia Pacific FRP Tank Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Resin Type

8.2.2. By Fiber Type

8.2.3. By End User

8.2.4. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China FRP Tank Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Resin Type

8.3.1.2.2. By Fiber Type

8.3.1.2.3. By End User

8.3.2. India FRP Tank Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Resin Type

8.3.2.2.2. By Fiber Type

8.3.2.2.3. By End User

8.3.3. Japan FRP Tank Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Resin Type

8.3.3.2.2. By Fiber Type

8.3.3.2.3. By End User

8.3.4. South Korea FRP Tank Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Resin Type

8.3.4.2.2. By Fiber Type

8.3.4.2.3. By End User

8.3.5. Australia FRP Tank Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Resin Type

8.3.5.2.2. By Fiber Type

8.3.5.2.3. By End User

9. Middle East & Africa FRP Tank Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Resin Type

9.2.2. By Fiber Type

9.2.3. By End User

9.2.4. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia FRP Tank Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Resin Type

9.3.1.2.2. By Fiber Type

9.3.1.2.3. By End User

9.3.2. UAE FRP Tank Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Resin Type

9.3.2.2.2. By Fiber Type

9.3.2.2.3. By End User

9.3.3. South Africa FRP Tank Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Resin Type

9.3.3.2.2. By Fiber Type

9.3.3.2.3. By End User

10. South America FRP Tank Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Resin Type

10.2.2. By Fiber Type

10.2.3. By End User

10.2.4. By Country

10.3. South America: Country Analysis

10.3.1. Brazil FRP Tank Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Resin Type

10.3.1.2.2. By Fiber Type

10.3.1.2.3. By End User

10.3.2. Colombia FRP Tank Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Resin Type

10.3.2.2.2. By Fiber Type

10.3.2.2.3. By End User

10.3.3. Argentina FRP Tank Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Resin Type

10.3.3.2.2. By Fiber Type

10.3.3.2.3. By End User

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global FRP Tank Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. ZCL Composites Inc.

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Luxfer Holdings PLC

15.3. Denali Incorporated

15.4. Enduro Composites Inc.

15.5. Faber Industrie SPA

15.6. EPP Composites Pvt. Ltd.

15.7. Hexagon Composites ASA

15.8. LF Manufacturing Inc

15.9. Composite Technology Development Inc.

15.10. Hexagon Composite Engineering Sdn Bhd

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global FRP Tank Market in 2025?

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