FRP Vessels Market Report 2026

The frp vessels market size has grown strongly in recent years. It will grow from $3.59 billion in 2025 to $3.89 billion in 2026 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to expansion of chemical processing capacity, growth of water and wastewater treatment facilities, increasing demand for lightweight pressure vessels, adoption of fiberglass composites in industry, rising industrial safety requirements.

The frp vessels market size is expected to see strong growth in the next few years. It will grow to $5.27 billion in 2030 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing investments in sustainable industrial infrastructure, expansion of pharmaceutical and chemical manufacturing, growing preference for non-metallic vessels, rising focus on long-term asset durability, technological advancements in high-strength composites. Major trends in the forecast period include increasing adoption of large-capacity frp vessels, rising demand for corrosion-resistant industrial equipment, growing use of advanced resin systems, expansion of frp vessels in water and chemical industries, enhanced focus on structural durability.

The increasing demand for alternative fuel vehicles is expected to drive the growth of the FRP vessels market going forward. Alternative fuel vehicles are automobiles that operate on fuels other than conventional gasoline or diesel, including ethanol, electricity (such as solar-generated power), and biodiesel. FRP vessels are used in the production of various electric vehicle components, where their high strength and lightweight properties contribute to improved fuel efficiency and extended component lifespan. For example, in January 2024, according to the US Department of Energy, a government agency, plug-in electric vehicles accounted for 9.8% of all light-duty vehicle sales in December 2023, up from 7.8% in December 2022. Throughout 2023, plug-in vehicles consistently represented at least 8% of monthly sales, compared with a range of 5.5% to 7.8% in 2022. Therefore, the rising adoption of alternative fuel vehicles is fueling the growth of the FRP vessels market.

Companies operating in the FRP vessels market are increasingly concentrating on the development of advanced solutions, such as high-performance composite vessels, to replace conventional metal or basic FRP tanks and meet stringent industrial requirements. High-performance composite vessels are advanced storage systems that use durable and sustainable composite materials to reduce weight, improve chemical and thermal resistance, and enable safer storage and transportation of cryogenic and hazardous materials. For instance, in December 2023, Omni Tanker Pty Ltd, an Australia-based composites manufacturer, in collaboration with Lockheed Martin Corporation and the University of New South Wales (UNSW), introduced two carbon-fiber composite tanks: a fluoropolymer-lined “Type IV” vessel and a liner-less “Type V” vessel. These composite tanks are designed for the storage of cryogenic liquid hydrogen and helium and can safely contain substances such as hydrogen, oxygen, hydrogen peroxide, and hydrazine at extreme temperatures. Integrated with Omni Tanker’s patented composite vessel technology, these solutions provide lightweight, durable, and chemically resistant storage, enhancing operational safety, lowering maintenance needs, and supporting advanced applications across industrial, aerospace, and clean energy sectors.

In October 2025, Weichai Heavy Machinery Co. Ltd., a China-based manufacturer of heavy machinery and marine equipment, acquired Changzhou FRP Shipyard Co. Ltd. for approximately US$69 million. Through this acquisition, Weichai Heavy Machinery aims to strengthen its marine solutions portfolio by incorporating Changzhou FRP Shipyard’s expertise in fiberglass reinforced plastic vessel construction, thereby expanding its shipbuilding capabilities and supporting growth in the commercial marine market. Changzhou FRP Shipyard Co. Ltd. is a China-based company specializing in the design and manufacture of fiberglass reinforced plastic vessels.

Major companies operating in the frp vessels market are Belco Manufacturing Co, Augusta Fiberglass Coatings Inc, Enduro Composites Inc, ZCL Composites Inc, Hengrun Group Co Ltd, RL Industries, Denali Incorporated, L F Manufacturing Inc, EPP Composites Pvt Ltd, CMI Composites, CGH Belgium Group, Plasticon Composites, Ershigs Inc, Beijing Zhongxing Shiqiang Fiberglass Reinforced Plastic Co Ltd, Amiblu Holding GmbH, Shreya Industries, Balaji Fiber Reinforce Pvt Ltd, KCH Services Inc, Composites USA, Industrial Plastic Systems Inc, HOBAS Pipe USA Inc, Strongwell Corporation.

Asia-Pacific was the largest region in the FRP vessels market share in 2025. The regions covered in the frp vessels market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the frp vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The FRP vessels market consists of sales of membrane housing, aromatic polyamide fiber, polypropylene vessels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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