FRP Vessels Market Size, Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027 emergenresearch.com

The global FRP vessels market is projected to be valued at USD 5,538.8 Million by 2027, according to a current analysis by Emergen Research. FRP (fiber-reinforced plastic) vessels are witnessing increasing demand from the automotive industry. FRP vessels are used for fuel storage in passenger cars and commercial vehicles. These vessels are constructed in one piece, without any welded seams, which helps in decreasing splitting in the event of a crash. Besides, FRP composites do not corrode, which increases durability of FRP vessels. Furthermore, increasing demand for natural gas vehicles (NGVs) worldwide is significantly driving the demand for FRP vessels in the automotive sector.
The researchers have considered all the factors influencing the growth of the FRP Vessels market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the FRP Vessels market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the FRP Vessels market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.