Albany, NY -- (SBWire) -- 05/10/2019 --Fiberglass, a composite material, is used in various industries such as aerospace, automobile, and in the food and beverage market. Fiberglass has a wide range of applications due to its eco-friendly nature and lightweight material. Fiberglass is not as strong as carbon fiber; however, fiber glasses are stronger than many metals. Moreover, raw material of fiberglass are cheaper compared to carbon fiber composites. Fiberglass storage containers can be used in various applications in the residential sector and in industries such as agriculture, food & beverages, automobiles, and so on. Fiberglass storage containers are available in different sizes and shapes such as long rectangular shape box, square box, basic rectangular shape, etc. Demand for fiberglass storage containers could vary in terms of size, shape, and application. Application of fiberglass storage varies depending on its size and requirement. It can be used as a cabinet, lockers, and emergency equipment storage, roof houses, and so on. The fiberglass storage containers market is expected to grow rapidly due to their increasing use in food and beverages, agriculture, and the automobile sector.
Key factors driving the global fiberglass storage containers market are the growing food and beverage market and automobile industry. Moreover, rise in demand for durable storage containers in the agricultural sector is another factor which is projected to boost the fiberglass storage containers market. Attractive and innovative ideas for storage containers in residential areas, such as shoe racks made at home using cardboard boxes is expected to propel the market.
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However, rise in costing due to growing gap between supply & demand, and unstable availability of raw materials are projected to hinder the market. Increase in raw material prices is anticipated to hamper the fiberglass storage containers market in the next few years. Rising applications for fiberglass storage containers in commercial, automotive, and food and beverages sectors is expected to create lucrative opportunities in the global fiberglass storage containers market.
The global fiberglass storage containers market can be classified based on distribution channel, end-user or application, and region. In terms of distribution channel, the market can be categorized into direct on manufacturer’s website, e-commerce websites, specialty stores, independent stores, and others such as agriculture nursery. Based on end-user or application, the market can be classified into residential, industrial, commercial, and municipal. Based on region, the global fiberglass storage containers market can be classified into North America (the U.S., Canada, and Mexico), Europe (Germany, the U.K., Italy, France, Russia, Poland, and Spain), Asia Pacific (China, Japan, India, South Korea, Australia, Singapore, Malaysia, and Indonesia), Middle East & Africa, and South America.
Major contributing players in the global fiberglass storage containers market are Dock Box Depot, GIBI Marine, Maine Mystique, Cheyenne, Beachcomber Fiberglass Technology, Accmar Equipment Company, Frigibar Industries, Release Marine, CST, Lanpec Technologies Limited, CB&I, RXY, PermianLide, Luqiang metal container, Highland Tank, HUARUN ENVIRONMENTAL EQUIPMENT, Huarun Environmental Equipment, Fox Tank, WUXI XINLONG, Motherwell Bridge, Wuxi Xinkaihe tank, Toyo Kanetsu K.K., HANJUNG CIT, ISHII IRON WORKS, CIMC, Pfaudler, and MEKRO. Top companies engage in acquisitions & mergers, joint ventures, development of new and innovative products with sustainable designs, and increasing research to enhance their product portfolio and strengthen their presence in the fiberglass storage containers market across the globe.
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Many major players are expanding their research and development facilities to develop durable products and new fiberglass storage containers due to increasing competition in the market. This is likely to lead to the introduction of several products in the market during the forecast period. Also, key players are striving to develop improved and new technologies for durable and reliable fiberglass storage containers.
Fiberglass Storage Containers Market: Analysis by Key Players Focusing on Growth Strategies and Upcoming Trends