FRP Tank Market Report 2026

The frp tank market size has grown strongly in recent years. It will grow from $2.59 billion in 2025 to $2.76 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to expansion of water and wastewater treatment infrastructure, increasing use of chemical storage solutions, growth of agricultural storage applications, rising adoption of non-corrosive materials, availability of fiberglass manufacturing technologies.

The frp tank market size is expected to see strong growth in the next few years. It will grow to $3.48 billion in 2030 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to increasing demand for sustainable storage materials, expansion of industrial water treatment projects, growing focus on lifecycle cost reduction, rising investments in infrastructure modernization, technological advancements in composite manufacturing. Major trends in the forecast period include increasing use of corrosion-resistant storage solutions, rising demand for lightweight industrial storage tanks, growing adoption of frp tanks in water treatment, expansion of customized tank designs, enhanced focus on long service life materials.

The increasing demand for oil and gas storage systems is expected to drive the growth of the FRP tank market going forward. Oil and gas storage involves the use of tanks or terminals, located above or below ground, to store produced oil and gas. FRP tanks are widely used in the oil and gas industry to store fluids in bulk at different stages of the refining and processing cycle. These tanks are commonly employed for short-term storage before products are transported for further processing. For example, in June 2023, according to data published by the US Energy Information Administration, a federal statistical and analytical agency, global oil demand is projected to increase by 6% between 2022 and 2028, reaching 105.7 million barrels per day. Additionally, global upstream investment in oil and gas exploration, extraction, and production was expected to rise by 11% year on year to a record USD 528 billion in 2023. Therefore, the growing need for oil and gas storage systems is fueling the expansion of the FRP tank market.

Key companies operating in the FRP tank market are focusing on product innovation, including the development of advanced FRP tank sumps manufactured using sheet-molded compound (SMC) technology, to improve durability, safety, and installation efficiency. FRP tank sumps produced through the SMC manufacturing process feature consistently thick and smooth walls that create a secure, watertight seal, enhance bonding with entry fittings, resist structural deflection, and reduce the likelihood of leaks in fuel storage applications. For instance, in August 2023, OPW, a US-based provider of precision-engineered solutions for the safe and efficient storage, handling, and transportation of industrial gases and liquids, introduced the TSE Tank Sump manufactured using SMC technology. This product ensures high quality, rapid delivery, and strong value, making it suitable for fuel retailers seeking a simple secondary containment solution. The TSE Tank Sump offers smooth, uniform walls for improved sealing and leak prevention, along with two mounting options - collar-ring and solid-bottom - and available seal kits that simplify installation and maintenance for retail fueling operators.

In March 2023, Shawcor, a Canada-based energy services company specializing in products and services for the pipeline and pipe services segment, acquired the assets of Triton Stormwater Solutions for an undisclosed amount. Through this acquisition, Shawcor expanded its technology portfolio and enhanced its ability to deliver comprehensive composite materials-based stormwater management solutions. Triton Stormwater Solutions is a US-based company that provides underground FRP tanks for liquid fuel storage and water management applications.

Major companies operating in the frp tank market are Enduro Composites Inc., LF Manufacturing Inc., Amiantit Fiberglass Industries Limited, Future Pipe Industries LLC, SELIP s.p.a., ZCL Composites, Augusta Fiberglass Coatings Inc., Belding Tank Technologies Inc., Design Tanks LLC, Diamond Fiberglass LLC, Ershigs Inc., Fiber Glass Systems LLC, Palmer of Texas, Perry Fiberglass Products Inc., Plas-Tanks Industries Inc., Precision Tank & Equipment Co., Xerxes Corporation, GRP Water Tanks LLC, Megha Pro Tech Systems Pvt Ltd., Fiber Tech Composite Private Limited, EPP Composites Pvt Ltd., Ashland Inc., Huntsman Corporation.

Asia-Pacific was the largest region in the FRP tank market in 2025 and is expected to be the fastest-growing region in the FRP tank market during the forecast period. The regions covered in the frp tank 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 tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The FRP tank market consists of sales of cylindrical vertical storage tanks, cylindrical horizontal storage tanks, rectangular tanks, pickling tanks, FRP and dual laminate tanks, and conical bottom tanks. 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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