U.S. Lined Tank Market to Surpass Valuation of US$ 1.9 Bn by 2023
U.S. Lined Tank Market: Introduction
Transparency Market Research delivers key insights on the lined tank market in the U.S. In terms of revenue, the lined tank market in the U.S. is estimated to expand at a CAGR of 4.2% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the lined tank market in the U.S.
The lined tank market in the U.S. is broadly affected by several factors, including rise in usage of lined tanks in various end-use industries such as pharmaceuticals, oil & gas, chemicals, and food & beverages. The rise in the demand for beverages in the U.S. has been augmenting the usage of storage tanks. Growth in production and demand for oil & gas are expected to be the primary driver of the expansion of the lined tank market in the U.S. The demand for lined tanks is likely to increase significantly in the U.S. in the near future, as lined tanks provide vital storage for oil, gas, food and beverages, and chemicals. This is projected to drive the lined tank market in the U.S. during the forecast period.
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U.S. Lined Tank Market: Dynamics
Lined tank is a container designed and built as per the International Organization for Standardization (ISO) norms. It provides a sturdy, safe, and user-friendly mode of loading, carriage, transportation, shipping, and discharge of different-grade chemicals adhering to the international norms and regulations of safety.
According to a 2019 Food and Health Survey, the food consumption pattern of U.S. citizens has increased. On an average, one U.S. citizen consumes as much energy compared to two Japanese nationals or 31 Indians. This is driving the need of food storage containers in the U.S. The development of ISO tank containers has allowed the carriage of all types of products ranging from, but not limited to, portable (food grade) liquids and non-hazardous and hazardous aqueous materials. Tank containers help eliminate risks in transferring solutions from one vessel to another. Lined tank with a built-in partition is usually used to carry bulk liquids, as it helps ease future maintenance without having to drain the whole tank. Each lined tank compartment has its own pipe fittings and liquid level indicator to ensure independent operation without any disruption.
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The increase in bulk foreign trade of chemicals, food additives, and liquids is boosting the demand for corrosion resistant coated tanks. Manufacturers of lined tanks are moving from epoxy coatings to fluoropolymer coatings, due to the latter’s favorable properties such as corrosion resistance and high thermal stability, especially in the transportation of specialty chemicals.
ISO tanks can also be customized according the requirements or properties of the material to be transported. These tanks are distinguished according to T-codes. T11 tank is highly popular in the market. Its capacity ranges from 14,000 liters/3,699 gallons to 26,000 liters/6,869 gallons.
Thus, increase in international trade is anticipated to boost the demand for lined tanks for transportation of chemicals in North America. Manufacturers of lined tanks are focusing on the oil & gas industry, as the share held by the end use segment of the lined tank market in the U.S. is projected to increase during the forecast period.
U.S. Lined Tank Market: Key Players
The lined tank market in the U.S. is consolidated with the presence of various key players. Prominent players operating in the lined tank market in the U.S. include Praxair S.T. Technology, Inc., Electro Chemical Engineering & Manufacturing Co., FISHER COMPANY, Pfaudler Group, CG Thermal, ASTON FLUOROTECH CORP, Chemours Company FC, US Coatings, Moon Fabricating Corporation, TMI Coatings Inc., AmTech Tank Lining & Tank Repair, Flexi-Liner Corporation, and G.C. Zarnas, Inc.
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U.S. Lined Tank Market: Segmentation
U.S. Lined Tank Market, by Tank Type vs. Lining Material
- Fixed Storage Tanks
- Ultrahigh Purity PTFE
- Modified PTFE
- Perfluoroalkoxy Alkane (PFA)
- Fluorinated Ethylene Propylene (FEP)
- ISO Containers
- Ultrahigh Purity PTFE
- Modified PTFE
- Perfluoroalkoxy Alkane (PFA)
- Fluorinated Ethylene Propylene (FEP)
- Truck Trailers
- Ultrahigh Purity PTFE
- Modified PTFE
- Perfluoroalkoxy Alkane (PFA)
- Fluorinated Ethylene Propylene (FEP)
Lined Tank Market, by End Use
- Semiconductors
- Water Storage
- Chemicals
- Oil & Gas
- Food & Beverages
- Pharmaceuticals
- Others (Specialty Chemicals)
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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