DUBLIN--(BUSINESS WIRE )--Research and Markets has announced the addition of the "FRP Tank Market - Global Trends & Forecasts to 2021" report to their offering.

The market size of FRP tanks is projected to reach USD 2.32 Billion by 2021 at a CAGR of 4.73%, between 2016 and 2021. The high demand for lightweight and superior properties of composites and the increasing demand of FRP tanks for heavy vehicles in North America and Europe are the key factors responsible for the growth of the FRP tank market.

The major applications included in the FRP tank market include water & waste water, chemicals, oil & gas, pulp & paper, power, and others. Water & waste water constituted a major portion of the FRP tank market, by value and volume. FRP tanks offer complete solutions against highly corrosive fluids and harsh environment conditions at various temperatures, pressures, and adverse weather and soil conditions, which drive their application in the water & waste water application.

Asia-Pacific is expected to be the fastest-growing market for FRP tank in the next five years. The factor that contributed to its growth is the increasing urbanization and industrialization coupled with the rising disposable income of the population. This has resulted in high demand of consumer goods and services such as power, construction, processed foods, and sanitation (water & waste water treatment), which are the applications of FRP tanks. Thus, these growing application industries would significantly boost the FRP tank market in the Asia-Pacific region.

6 Macro Economic Overview and Key Trends

7 FRP Tank Market, By Fiber Type

8 FRP Tanks Market, By Resin Type

9 FRP Tank Market, By Application

For more information about this report visit http://www.researchandmarkets.com/research/k4zvt2/frp_tank_market

Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Related Topics: Plastic Resins

Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Related Topics: Plastic Resins