According to the recent study the chemical storage tank market is projected to reach an estimated $6 billion by 2030 from $5 billion in 2023 at a CAGR of 2.1% from 2023-2030. Growth in this market is primarily driven by increasing refineries, growing industrialization, and replacement of aging chemical storage tanks.
Browse 129 figures/charts
and 102 tables in this 211-page report to understand trends, opportunities and
forecast in chemical storage tank market by application (industrial chemicals,
fuel, and others), material (FRP (fiberglass reinforced plastic) tanks, metal
tanks, plastic tanks and others), insulation type (above ground tanks and under
ground tanks), end use industry (petrochemical, food and beverage,
pharmaceutical, paper and pulp, and other industries), size (less than 5,000
gallons, 5,001 to 50,000 gallons, above 50,000 gallons), pressure (high
pressure tanks and low and no pressure tanks), and region (North America,
Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that
industrial chemical storage tanks will remain the largest segment and it is
also expected to witness the highest growth over the forecast period due to
growing establishment of new chemical plants and rising concern towards
recycling of industrial chemical.
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Within the global
chemical storage tank market, FRP tank is expected to witness the highest
growth during the forecast period due to its various properties, such as
corrosion resistance, light weight, easier installation, longer life span,
lower maintenance, and more durability.
APAC will remain the
largest region and it is expected to witness the highest growth over the
forecast period due to rising urbanization, industrialization, and higher
economic growth.
CIMC, CST Industries,
Worthington, Snyder Industries, Synalloy, Containment Solutions, Highland Tank,
Enduro Composites, and Sintex Industries are among the major chemical storage
tank market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
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and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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