The report is updated with thelatest impact of the novel coronavirus pandemic on the market. The pandemic hasdrastically altered the market dynamics and trends and demands. It has alsodisrupted the supply chain and generated financial difficulties. The reportcovers the comprehensive effect of the pandemic on the industry and offers aninitial and future impact assessment of the impact of the COVID-19 pandemic onthe FRP Vessels Market business sphere.
The latest market study, FRPVessels Market blends in qualitative and quantitative research techniques topresent vital data on the competitive landscape for the period of 2020 - 2027.Thisresearch allows the business owners/individuals/ stakeholders to collectdecisive information about market segmentation based on product category, usageand sale volume across the various geographical regions. Business stakeholderscan prepare effective expansion plan by using the statistics on market share,size and the growth rate discussed in the report, for the forecast period of2020 - 2027.Unmatched information on past, present and upcoming market trends coveredin the study offer lucidity on the future projection of the industry.
Readmore@ https://www.emergenresearch.com/industry-report/frp-vessels-market
KeyHighlights of Report
In October 2019, National Oilwell Varco made an announcementabout the acquisition of Denali Inc. The largest business unit of Denali,called Containment Solutions, Inc., primarily produces underground FRP tanksdeployed for fuel storage at gasoline stations throughout North America.
CFRP vessels are witnessing significant increase in thedemand, due to higher tensile strength of CFRP. Tensile strength of CFRP isabout 10 times higher than that of ordinary steel. Also, the elasticity modulusof CFRP is higher than steel, glass fiber, and aramid.
Polyurethane resin in fiberglass composites has been widelytested in terms of compression, tensile strength, and flexural strength.Polyurethane possesses an exceptional strength-to-weight ratio, improvedrobustness, and superior UV resistance.
In the chemical industry, FRP vessels are extensivelyemployed in applications such as fertilizers, food processing, metalextraction, refining, pulp and paper, electroplating, chlor-alkali production,and air pollution control equipment.
High demand for FRP vessels in North America is attributableto surging installation of these vessels in industries such as chemical &petrochemical, power generation, and oil & gas. Rising deployment ofnuclear reactors in the energy sector is projected to drive the market in theregion from 2020 to 2027.
Key market participants include Faber Industries SPA,National Oilwell Varco, Luxfer Holdings PLC, Shawcor, Everest Canto CylinderLtd., Agility Fuel Solutions LLC, JRMS Engineering Works, ULLIT SA, HexagonComposites ASA, and Worthington Industries Inc.
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RegionalLandscape
North America (U.S., Canada)
Europe (U.K., Italy, Germany,France, Rest of EU)
Asia Pacific (India, Japan,China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil,Argentina, Rest of Latin America)
Middle East & Africa (SaudiArabia, U.A.E., South Africa, Rest of MEA)
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