FRP Tank in Potable Water Market Report: Trends, Forecast and Competitive Analysis to 2030

FRP Tank in Potable Water Market Report: Trends, Forecast and Competitive Analysis to 2030

FRP Tank in Potable Water Trends and Forecast

The future of the global FRP tank in the potable water market looks promising with opportunities in the household and commercial markets. The global FRP tank in potable water market is expected to grow with a CAGR of 4.7% from 2024 to 2030. The major drivers for this market are the increasing demand for safe and durable water storage solutions and the growing demand for reliable potable water infrastructure.

• Lucintel forecasts that, within the resin type category, polyester composite will remain a larger segment over the forecast period.
• Within the application category, the commercial is expected to witness higher growth.
• In terms of regions, APAC is expected to witness the highest growth over the forecast period.

Gain valuable insights for your business decisions with our comprehensive 150+ page report.

Emerging Trends in the FRP Tank in Potable Water Market

The FRP tank in the potable water market is undergoing transformative trends, primarily driven by technology and changing consumer demands. These trends are shaping the future of water storage facilities.

• Sustainability and Eco-Friendly Materials: Rising awareness among consumers about environmental issues is prompting manufacturers to construct FRP tanks in an environmentally friendly manner. This trend aims to minimize carbon footprints and enhance recyclability, which appeals to both green consumers and regulators.
• Smart Technology Integration in FRP Tanks for Potable Water: The application of IoT and smart technologies in FRP tank designs is gaining significant momentum. These technologies enable real-time assessment of water quality and tank conditions, thereby improving efficiency and safety management practices.
• Customization for FRP Tanks in Potable Water: There is an increasing market demand for customizable and modular FRP tank solutions to meet specific customer requirements. This trend allows for more diverse water storage applications, as the systems can be configured differently to meet various needs.
• Regulatory Compliance and Standards: As manufacturers continue to focus on design and production, there has been an increase in provisions for compliance due to the growing demands for water quality and safety from regulatory authorities. This trend emphasizes providing certification for FRP tanks regarding testing and certification to demonstrate compliance with national and global standards.
• Emphasis on the Management of Water Resources: As urban areas grow, the need for effective water management methods becomes increasingly urgent. The use of FRP tanks in urban water supply systems is becoming indispensable due to challenges related to water resource availability and water quality.

These trends are driving the shift towards sustainability, innovation, and improved functionality of FRP tanks, contributing to the creation of safer and more reliable potable water storage systems.

Recent Developments in the FRP Tank in Potable Water Market

These trends phenomena also help meet the change of direction towards sustainability, new inventions, and better functioning of the FRP tanks in the market which favors the creation of safer and more reliable potable water storage systems.

• Improved Material Composition: Currently, there is an improvement in the performance of FRP tanks as commended in the usage, due to the new developments namely resin formulations and fiber technology. There is a composite material creation that has resistance to UV radiation, and chemical and thermal stability to provide long-lasting water storage.
• Use of Smart Technologies: Also, FRP tanks can be embedded with different IOT devices or Smart What is a refinement of various water treating devices. This helps in providing information about the water and the tank even in real time to the operators.
• Expansion into Emerging Markets: The manufacturers are increasingly focusing on affordable and long-lasting’ FRP tanks aimed at emerging green markets. This expansion is essential for meeting the increasing need for safe potable water in areas that lack water infrastructure.
• Innovation in Regulatory Compliance: The manufacturers are also under increasing regulations on water quality and are therefore looking at ways to cope through their testing and certifying. This orientation towards satisfying the regulatory requirements increases customers’ confidence and therefore acceptance of the products in the market.
• Modular Tank Designs: The movement towards the improvement in the design of modular FRP tanks, and adaptation of such water heads allows installation in any conditions of the place, both in a vertical and horizontal position. Transportation and installation of these designs become simpler, which meets the goals of urban/rural water management.

These advancements are fostering innovation, sustainability, and market expansion in the FRP tank ecosystem and most importantly guaranteeing safe drinking water in varied use cases.

Strategic Growth Opportunities for FRP Tank in Potable Water Market

The market for FRP tanks used for potable water has several avenues of growth in the course of its use due to the requirement for water storage that is both safe and easily deployable at the same time.

• Use Of Water Supply Systems In Urban Areas: As discussed above, there is an increasing demand for appropriate urban water supply options as the population density of towns and cities increases. FRP tanks are quite suitable for handling the storage of drinking water in an urban setting since they are lightweight and do not corrode, unlike other materials.
• Use of FRP tanks in Irrigation: In fact, the agricultural sector is growing more and more thirsty for dependable sources for water storage. Irrigation and more broadly food security initiatives and sectors can be supported by providing FRP tanks with drinking water for animals.
• Water Treatment Plants: FRP Water Treatment Plant- an industrial facility. Pump installation and piping works and other auxiliary processes accompanying the installation of FRP tanks in the water treatment systems are done after the tanks are installed. Industrial facilities are adopting more and more constructible FRP tanks for water treatment purposes.
• Water Supply During Emergency: In case of unwanted events in high-risk areas, FRP tanks can be effective in supplying water for emergencies when there is a shortage. Due to their lightweight and portable structure, these tanks can be used or deployed during the occurrence of natural disasters.
• FRP systems for water use at Residential Sites: Over the years there has been an increasing interest in self-designed water systems that are dependent on the individuals or homes. In such communities, these tanks can be used to serve homes, especially in the recognition of safe and adequate water storage which does not exist in most rural residential areas.

These strategic growth opportunities illustrate the versatility of FRP tanks in the potable water sector and the opportunities available to the manufacturers to grow by providing more offerings for their various customers.

FRP Tank in Potable Water Market Driver and Challenges

The factors and challenges that drive and hinder the growth of the FRP tank in potable water are numerous.

The factors responsible for driving the FRP tank in the potable water market include:

• Growing Need for Safe Water Supply: With increasing concern about water quality and safety, the demand for reliable storage is rising. FRP tanks facilitate this as they are more robust and less prone to contamination.
• Waste Water Treatment: With growing environmental concerns, the use of non-toxic and greener materials in water storage solutions is increasing. FRP tanks align with sustainable construction practices, making them appealing to both consumers and regulators.
• Industrial Growth: Advancements in manufacturing processes and material technology are improving the quality and service life of FRP tanks. These improvements enable faster production and higher user satisfaction.
• Government Support for Water Infrastructure: Due to increased government expenditure on water infrastructure, especially in developing nations, the demand for FRP tanks as part of advanced water management systems is also growing.
• Urbanization and Population Dynamics: Increasing population levels and urbanization are driving the need for efficient water storage solutions. High-density urban areas require FRP tanks, which are well-suited to meet the growing demand.

Challenges in the FRP tank in potable water market are:

• High Initial Investment: Despite the benefits, potential customers may be discouraged from purchasing FRP tanks due to their higher initial cost compared to conventional materials. Educational papers highlighting long-term savings could help overcome this barrier.
• Lack of Awareness in Emerging Regions: The advantages of modern FRP tanks have not been fully embraced in some emerging regional markets. Outreach programs may be necessary to promote their use.
• Competition from Existing Materials: The primary competition for FRP tanks comes from traditional materials such as steel and concrete. Manufacturers must convince customers of the benefits of FRP tanks to penetrate the market.

These drivers and challenges significantly influence the FRP tank market for potable water, affecting strategic decisions and shaping the future of water storage solutions. Addressing these factors will be critical to optimizing growth opportunities in the industry.

List of FRP Tank in Potable Water Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies FRP tank in potable water companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the FRP tank in potable water companies profiled in this report include-

• Hengrun Group
• Shawcor
• Containment Solutions
• Orenco Systems
• Belco Manufacturing
• L.F. Manufacturing,
• Zurn Green Turtle
• Hydro Dynamic Engineering
• Induro International
• Hao Hua Zhongyi GFRP

FRP Tank in Potable Water by Segment

The study includes a forecast for the global FRP tank in potable water by resin type, application, and region.

FRP Tank in Potable Water Market by Resin Type [Analysis by Value from 2018 to 2030]:

• Polyester Composites
• Vinyl Ester Composites
• Others

FRP Tank in Potable Water Market by Application [Analysis by Value from 2018 to 2030]:

• Household
• Commercial
• Others

FRP Tank in Potable Water Market by Region [Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the FRP Tank in Potable Water Market

The potable water segment in the fiber-reinforced polymer (FRP) tank market is witnessing significant improvements in key economies such as the United States, China, Germany, India, and Japan. These developments are driven by the increasing need for water quality management and addressing water scarcity concerns. New materials, production processes, and the demand for safer structures are reshaping the sector. This overview highlights recent trends in promoting the use of FRP tanks for the safe provision of drinking water across various regions.

• United States: In the U.S., the market for FRP tanks in potable water is growing rapidly, fueled by the construction of new infrastructure and the rehabilitation of existing systems, along with stricter environmental legislation. Recent trends include improved manufacturing processes that enhance the durability and lifespan of tanks. One key player is researching to develop environmentally friendly materials suitable for safe drinking water containers. Additionally, the push to replace aging infrastructure is driving the adoption of FRP tanks over conventional ones, as they do not corrode or leach chemicals into the water.
• China: The FRP tank market for potable water in China is expected to grow rapidly over the forecast period, driven by increasing urbanization and rising investment in water-related infrastructure. Notable developments include the introduction of high-capacity FRP tanks to meet the growing potable water needs of large cities. Domestic companies are focused on enhancing their production technologies to improve the quality of FRP tanks for potable water. Government initiatives aimed at upgrading existing water supply systems are also facilitating the adoption of FRP tanks in the industry.
• Germany: Germany's regulatory framework for the potable water market is strict, with sustainability at the forefront. Recent advancements include the development of composite materials that improve the functionality and environmental impact of FRP tanks for potable water. German manufacturers are incorporating more smart technologies into tank designs, enabling remote monitoring and control of water quality. Germany's commitment to sustainability has led to the adoption of green production methods, making it a leader in safe water storage technologies.
• India: The market for FRP tanks in potable water in India is expanding due to government initiatives aimed at safeguarding water resources. New trends include the introduction of affordable FRP tanks for both rural and urban populations. Local manufacturers are ramping up production capacity to meet the growing demand driven by government programs focused on providing safe drinking water.
• Japan: In Japan, innovation and resilience, particularly in response to natural disasters, are defining the FRP tank market for potable water. Recent developments include the design of high-strength FRP tanks that can withstand seismic forces, particularly for use in disaster-prone areas. Japanese manufacturers are also investing in advanced technologies to improve the lifespan and safety of these tanks. Government-led post-disaster reconstruction efforts have further accelerated the use of FRP solutions for improving water supply systems.

Features of the Global FRP Tank in Potable Water Market

Market Size Estimates: FRP Tank in potable water market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: FRP Tank in potable water market size by resin type, application, and region in terms of value ($B).

Regional Analysis: FRP Tank in potable water market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different resin type, application, and regions for the FRP tank in potable water market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the FRP tank in potable water market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the FRP tank in potable water market by resin type (polyester composites, vinyl ester composites, and others), application (household, commercial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

Please note: It will take 2-3 business days to deliver the report upon receipt the order.