Lined Tank Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2031
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.
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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.
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.
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: Segmentation
U.S. Lined Tank
Market, by Tank Type vs. Lining Material
·
Fixed Storage Tanks
o
Ultrahigh Purity PTFE
o
Modified PTFE
o
Perfluoroalkoxy Alkane (PFA)
o
Fluorinated Ethylene Propylene (FEP)
·
ISO Containers
o
Ultrahigh Purity PTFE
o
Modified PTFE
o
Perfluoroalkoxy Alkane (PFA)
o
Fluorinated Ethylene Propylene (FEP)
·
Truck Trailers
o
Ultrahigh Purity PTFE
o
Modified PTFE
o
Perfluoroalkoxy Alkane (PFA)
o
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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New Lining Technologies for Oil & Gas Applications Creating Revenue
Opportunities
·
The oil & gas industry is
creating stable revenue streams for companies in the U.S. lined tank market.
The Novolac technology from Sherwin-Williams Company - a Cleveland, Ohio–based
company in the paint and coating manufacturing industry, is gaining popularity
for enhancing corrosion and abrasion resistance in oil & gas applications.
·
Tank linings are the workhorses of
asset protection in the oil & gas industry. There is a high demand for tank
linings in oil & gas applications, since they provide critical barrier
between a stored product and the tank in which it is contained. Such demands
are translating into revenue opportunities for manufacturers in the U.S. lined
tank market.
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