The global industrial packaging market is projected to be valued at USD 76.40 billion by 2027, according to a current analysis by Emergen Research. The key factors driving the market are raising living standards, and increasing global trade.
A few essential characteristics of packaging make it an essential process in the comprehensive business model. These characteristics are customization as per needs, protection during shipment of goods, and protection against hazardous effluents.
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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.
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