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NEW YORK , Jan. 19, 2022 /PRNewswire/ -- The global Fiber Reinforced Plastic (FRP) vessels market size is expected to reach USD 5,924.0 Million in 2028 and register a revenue CAGR of 7.7% over the forecast period, according to the latest report by Reports and Data. Increasing adoption of FRP vessels in chemical plants because of many beneficial properties such as the ease of handling and lightweight nature are key factors driving global Fiber Reinforced Plastic (FRP) vessels market revenue growth. Moreover, increasing number of FRP vessel sales in the oil & gas industry is another factor driving market revenue growth. For the storage of various products, the oil & gas industry requires underground storage vessels and tanks.
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For the purpose of this report, Reports and Data has segmented the global Fiber Reinforced Plastic (FRP) vessels market based on fiber type, resin, distribution channel, application, and region:
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