Fiber-reinforced plastic (FRP), also referred to as glass-reinforced plastic (GRP), consists of a polymer matrix with fiber reinforcement. FRP is widely used to fabricate vessels for numerous industries, including chemical, mining, power, pulp & paper, and other sectors. Polymer matrices like epoxy, vinyl ester, and polyester are typically employed in fabricating FRP vessels. FRP composed of polyester resin is versatile, dimensionally stable, and chemically resistant. Vinyl ester FRP is designed to withstand bending and compression and is more durable and flexible than polyester FRP. Epoxy FRP has more excellent qualities compared to polyester and vinyl ester FRP. Polyurethane FRP is a common material in the fiberglass industry because of its durability and lifespan. Due to its production and design capabilities, resilience, cost, stiffness, and impact resistance, FRP is widely utilized in various industrial sectors, including chemicals, oil & gas, food processing, and others.
FRP vessels are increasingly popular in transportation and automotive applications due to their lightweight and excellent corrosion resistance compared to conventional steel tankers. Moreover, the manufacture of FRP vessel products is essential to expanding the international market. Since FRP vessels play a crucial role in the automotive & transportation, water & wastewater, chemicals, oil & gas, and industrial sectors, the global fiber-reinforced plastic vessel market is a low-volume, high-value industry. In addition, specific application industries, such as pulp & paper, pharmaceuticals, food processing, desalination plant, and power plant, are predicted to provide future growth opportunities. Construction, consumer goods, protective equipment, and maritime infrastructure use FRP vessels widely as a construction material, another factor driving the worldwide fiber-reinforced plastic vessel market growth.
In water and wastewater treatment plants with a daily purifying capacity of between 10,000 and 150,000 liters, FRP containers are utilized. Various FRP containers are used depending on the type of procedure, such as anaerobic or aerobic. In addition, they can be used efficiently to treat wastewater from household restrooms, baths, kitchens, and washing facilities. Due to their eco-friendliness, durability, ease of installation, lightweight, and lack of leakage, they are an excellent material for wastewater treatment vessel construction. Most sludge treatment vessels are constructed from FRP. Critical rivals in the global FRP vessels market are pursuing strategic developments, such as partnerships and new product releases, which is a significant growth driver for the global fiber-reinforced plastic vessel market.
FRP is the material of choice in the chemical industry for producing process tanks, subsurface storage tanks, and vats because of its lightweight and corrosion resistance. It is used as a sandwich material in steel tanks and as a protective lining, increasing steel's strength. FRP is also used in the chemical industry to construct reaction vessels, exhaust ducts, towers, valves, pumps, chimney stacks, cryogenic pressure vessels, and agitators. The chemical industry primarily utilized rubber-lined steel to construct tanks, electrostatic precipitators, gas accumulators, and agitators. Because of its mechanical strength, excellent resistance to water vapor, and capacity to withstand stress are being replaced by a new type of FRP based on the vinyl ester. The chemical industry must battle strong corrosive conditions and water vapour to produce chlorine. Due to its capacity to extend the vessels' service life, FRP is commonly employed in constructing ducts and vessel coverings in chlorine production facilities.
Asia-Pacific is expected to advance with a CAGR of 9% and reach USD 1,010 million by 2030. China and India utilize FRP to efficiently and affordably address structural challenges. Due to its superior benefits over conventional materials, FRP is the material of choice for repairing and reinforcing civil structures in this region. India and China are two developing and emerging nations with increasing demand in the building industry. China's rising research and development efforts to cut the price of fiberglass reinforced plastic (FRP) and the increased usage of FRP in the aerospace, marine, and automotive industries have increased the demand for FRP vessels.
Leading civil firms in India have adopted FRP due to the growing demand for new FRP materials to renovate civil constructions. The building industry is a significant growth sector in rapidly developing countries like China and India. Existing mission-critical structures require maintenance and upgrades. As a result of its superior corrosion resistance and load-bearing capacity, FRP is commonly used for remodeling in India. These are the key factors driving demand for FRP vessels in the Asia-Pacific region. Renovation of civil infrastructure is predicted to create a growth opportunity for the FRP vessel market because of its superior advantages over conventional materials and retrofitting techniques.
Europe is expected to project at a CAGR of 5.2% and reach USD 522 million by 2030. As a result of fiberglass-reinforced plastic's excellent insulating properties and lower carbon footprint, the United Kingdom's building sector is increasingly turning to the material for house construction. In addition, the growing production and consumption of FRP in the building industry result from the rising demand for low-cost housing and sustainable construction. This need has led to a growth in the number of people looking for sustainable construction. The shifting demographics of Europe's population and the increased need for more energy-efficient buildings favor using FRP in house construction. The construction business in Europe is growing, with the annual construction pace going from 120k houses in 2017 to 160k in 2018. Therefore, the additional benefits of FRP, such as its adaptability, low weight, and cost- and energy efficiency, have caught the attention of some of the most prominent home builders in the UK. The demand for FRP in Europe has expanded due to the prevailing trend observed in the global market.
In addition, the government in the Europe region favors modern methods of construction (MMC). The most significant contributors to MMC's expansion have been bathrooms and kitchens. In the United Kingdom, where over 5 million homes are being built each year, fibreglass-reinforced plastic (FRP) is the material for constructing bathrooms and kitchens.