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
- 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)
Global IMO Tank Sheet Lining Market, by Type
- T - 1 IMO Tank
- T - 2 IMO Tank
- T - 5 IMO Tank
Global IMO Tank Sheet Lining Market, by End-use Industry
- Food & Beverage
- Oil & Gas
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