IMO Tank Sheet Lining Market: Overview

International Maritime Organization- Safety & Security for International Shipping

  • International Maritime Organization (IMO) is a specialized organization of the United Nations that is in charge for regulating shipping activities. The organization was established following an agreement at a United Nations conference held in Geneva.
  • The IMO's principal purpose is to maintain and develop an extensive regulatory framework for shipping. The organization also includes environmental concerns, safety, legal matters, technical co-operation, maritime efficiency, and security of shipping. The IMO is controlled by an assembly of members and is financially governed by a council of members elected from the assembly.
  • The IMO guides administrative development of its members to improve sea safety, facilitate trade, and protect maritime environment
  • IMO tanks are operated under rules and regulations devised by the organization for smooth and efficient operation

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IMO Tanks Classification

  • IMO tanks are classified on the basis of “T” code system that identifies the container from T1 to T22 depending on the nature of cargo (for example: Type 1 - hazardous, Type 2 - low hazard, etc.)
  • IMO type 1 and type 2 tanks are made of stainless steel shells, while type 5 tanks are generally fabricated from carbon (mild) steel due to the tare weight constraint. However, the piping is made of stainless steel.
  • Based on weight and volume, tank containers have varying capacities. IMO tanks have different types of linings depending upon their ‘T’ codes.
  • IMO adopts certain codes while manufacturing of tank such as International Maritime Dangerous Goods Code (IMDG), International Safety Management Code (ISM), International Ship and Port Facility Security Code (ISPS), International Code of Signals, etc.

Key Drivers of IMO Tank Sheet Lining Market

  • Increase in foreign trade of chemicals, food additives, and liquids is boosting the demand for IMO tank sheet lining market. IMO tanks are highly preferred in the global marine commerce due to their ability to adapt transportation by trucks, ships as well as airplanes easily. Furthermore, IMO tanks with sheet lining meet the requirements to transport hazardous chemicals, food products, and raw materials over a period of time.

Key Restraints of IMO Tank Sheet Lining Market

  • High initial cost and maintenance expenses are key restraints of the IMO tank sheet lining market. Most IMO tanks are made from carbon steel; therefore, interiors of these tanks need to be regularly sandblasted to remove any buildup of rust. Thus, periodic and preventive maintenance increases the overall operational cost of IMO tanks.

Asia Pacific Expected to Hold Major Share of Global IMO Tank Sheet Lining Market

  • Geographically, the IMO tank sheet lining market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The IMO tank sheet lining market in Asia Pacific is expected to expand at a significant pace during the forecast period, due to the growth in international marine trade in the region
  • China is estimated to be a major producer of IMO tank sheet linings in Asia Pacific. In terms of production, Japan, South Korea, and India are anticipated to exhibit strong growth due to the rise in demand for IMO tank sheet lining.
  • North America is also projected to hold key share of the market during the forecast period
  • Europe is likely to be a stable region of the global IMO tank sheet lining market. The market in Latin America and Middle East & Africa is expected to expand at a sluggish pace during the forecast period.

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Key Players in IMO Tank Sheet Lining Market

Leading companies operating in the global IMO tank sheet lining market include:

  • BNH Gas Tanks
  • NICHIAS Corporation
  • Valqua NGC, Inc.
  • Plasticon Composites
  • Allied Supreme Corp.
  • Sigma Roto Lining LLP
  • FISHER COMPANY
  • Edlon
  • US Coatings
  • Salem-Republic Rubber Company
  • RTP Company
  • PROFUSION INDUSTRIES

Global IMO Tank Sheet Lining Market: Research Scope

Global IMO Tank Sheet Lining Market, by Material

  • Polyamine Epoxy
  • Perfluoroalkoxy (PFA)
  • Fluorinated Ethylene Propylene (FEP)
  • Polytetrafluoroethylene (PTFE)
  • Others

Global IMO Tank Sheet Lining Market, by Type

  • T - 1 IMO Tank
  • T - 2 IMO Tank
  • T - 5 IMO Tank
  • Others

Global IMO Tank Sheet Lining Market, by End-use Industry

  • Chemicals
  • Food & Beverage
  • Pharmaceuticals
  • Oil & Gas
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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