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Increased Emphasis on Hygiene, Sanitization Ensuring Market Revival amid Coronavirus Crisis

The COVID-19 outbreak has brought increased emphasis on hygiene and sanitization in cities. This involves proper maintenance of septic tanks and fully lined tanks whose outlets are connected to sewerage networks. As a result, sanitization of public areas, shelter homes for migrants, and sanitization of tunnels in government offices & hospitals becomes imperative. Such applications are anticipated to fuel the demand for new tanks and contribute to the growth of the U.S. lined tank market.

Stakeholders from essential industries such as pharmaceuticals, food & beverages, and water storage are anticipated to trigger the demand for lined tanks. Tank manufacturers are ensuring stable supply chains to ensure business continuity. Manufacturers in the U.S. lined tank market are paying attention to mission-critical projects in essential industries to ensure continuous revenue flow. As such, the chemicals industry is creating stable revenue streams for tank manufacturers.

u.s. lined tank market infographic

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Manufacturers Diversify Production in Linings for Steel Vessels to Avoid Costly Spills

The U.S. lined tank market is predicted to expand at a modest CAGR of 4.2% throughout the assessment period. However, costly spills and damage to the environment, especially in off-shore applications are creating challenges for stakeholders in the oil & gas industry. Hence, manufacturers are diversifying their production in lining for steel vessels. Poly Processing - a leader in polyethylene storage tanks, is publicizing PolyGard™ for lining steel vessels for increased performance and better chemical storage solutions. Thus, companies in the U.S. lined tank market are taking cues from such innovations to develop linings for steel vessels.

ISO tank linings, on the other hand, are gaining prominence in shipping liquid chemicals and solids. However, sulfuric acid and hydrochloric acid can be potentially damaging to ISO tanks. Thus, initial investment for lining in ISO tanks is expensive, but it provides protective coating for shipping aggressive 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.

Preference for Use of Glass-Fused-to-Steel Technology in Water Storage Applications

Glass lined tanks are emerging as an alternative to conventional fixed storage tanks, ISO containers, and truck trailers. Companies in the U.S. lined tank market are diversifying their production capabilities in the glass-fused-to-steel technology for water storage tanks. CST Industries, Inc. - a complete storage system provider for engineering and manufacturing professionals, is creating awareness about AQUASTORE® liquid storage tanks that are built with the glass-fused-to-steel technology for water storage. Manufacturers in the U.S. lined tank market are gaining awareness about such technologies to innovate in water storage applications.

Manufacturers are developing glass lined tanks that are eliminating the need for painting. They are increasing the availability of tanks that provide optimum glass encapsulation. Glass lined steel tanks are found to provide greater lifetime value as compared to other tank designs. These tanks are offering time efficiency, since they can be assembled without cranes or special equipment. Moreover, low life cycle costs as compared to other available tank designs are fueling the demand for glass lined steel tanks. High quality and recognized standards are being preferred in glass lined steel tanks. These tanks are being deployed for long-lasting municipal and industrial service water storage.

u.s. lined tank market segmentation

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Analysts’ Viewpoint

The increased emphasis on hygiene and sanitization due to the coronavirus outbreak is anticipated to create revenue opportunities for lined tank manufacturers in essential industries such as pharmaceuticals, chemicals, and food & beverage. The U.S. lined tank market is expected to cross the valuation of US$ 1.9 Bn by 2023. However, costly spills and damage to the environment in off-shore applications are concerning stakeholders in the oil & gas industry. Hence, manufacturers should increase their R&D in lining for steel vessels to offer increased performance and better chemical storage in oil & gas applications. Manufacturers are innovating in glass lined steel tanks to tap incremental opportunities in water storage applications.

U.S. Lined Tank Market: Overview

  • International transportation plays an important role in modern world, as most of the food and chemical companies employ ISO tanks and vessels for storage and transportation purposes
  • 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.
  • Lined tanks are specifically designed to transport liquid bulk hazardous and non-hazardous chemicals, acids, industrial and edible oils, juice concentrates, wines, and raw materials
  • According to Transparency Market Research’s latest research report on the lined tank market for the forecast period of 2019 to 2023, rise in usage of lined tanks in agriculture is a key factor that is expected to boost the lined tank market in the U.S. market during the forecast period
  • In terms of revenue, the lined tank market in the U.S. is estimated to cross US$ 1.9 Bn by 2023, expanding at a CAGR of 4.2% during the forecast period

Significant Demand for Lined Tanks in Oil & Gas Industry: Key Driver of U.S. Lined Tank Market

  • The U.S. is one of the major producers of oil and gas. Thus, vast space is required for storage of oil and gas. The U.S. Government mandates producers and refineries to carry a larger storage. The U.S. Government stores oil reserves instead of a commercial company. Emergency crude oil is stored in the United States Strategic Petroleum Reserve (SPR), the world's largest supplier of emergency crude oil. Additionally, investments in the oil & gas sector to encourage the production of oil and gas have increased significantly. This, in turn, has led to a rise in the need for oil storage tanks.
  • Storage of oil and natural gas helps smoothen supply and demand discrepancies. Companies store more when the prices are lower, and withdraw when prices are high. Above ground tanks to store crude and refined oil, finished oil products, and natural gas.
  • The U.S. was one of the major exporters of oil and gas and its related products in 2020. The U.S. exported about 8.51 MMb/d and imported about 7.86 MMb/d of petroleum in 2020, making it a net annual petroleum exporter. Modes of transportation used were oil tankers, LNG tankers, and railroad. This has been driving the lined tank market in the U.S.
  • Storage of oil and natural gas is required to meet the domestic demand in the U.S. Demand for petroleum stood at 19.8 million barrels per day in the U.S. in April 2019 and increased by 1% till May 2019. Demand for lined tanks such as truck trailers and ISO containers has been increasing in North America, owing to the rise in demand for petroleum in the region. Thus, significant demand for lined tanks in the oil & gas industry is driving the market.

Fixed Storage Tanks Dominate U.S. Lined Tank Market

  • Based on tank type vs. lining material, the fixed storage tanks segment dominated the lined tank market in the U.S. in 2020. This can be primarily ascribed to the increase in the demand for production of oil & gas, petroleum products, and chemicals.
  • The truck trailers segment is likely to expand at a steady pace during the forecast period
  • The ISO containers segment is anticipated to expand significantly during the forecast period, as these are used in various applications, including industries such as pharmaceuticals, chemicals, and food & beverages

Rise in Application of Lined Tanks in Oil & Gas Industry

  • In terms of value, the oil & gas segment is estimated to dominate the lined tank market in the U.S. during the forecast period. The segment is projected to maintain its dominance during the forecast period.
  • Oil & gas is likely to be a highly attractive end use segment of the lined tank market in the U.S. during the forecast period. Increase in demand for storage is anticipated to drive the segment in the near future.
  • The pharmaceuticals segment offers lucrative growth opportunities to the lined tank market in the U.S.

U.S. Lined Tank Market: Competition Landscape

  • Detailed profiles of providers of lined tanks have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the lined tank market in the U.S. are
    • 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
    • G.C. Zarnas, Inc.

U.S. Lined Tank Market: Major Players

  • Major providers of lined tanks, such as Chemours Company FC, US Coatings, and AmTech Tank Lining & Tank Repair are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
  • In the lined tank market in the U.S. report, we have discussed individual strategies, followed by company profiles of providers of lined tanks. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the lined tank market in the U.S.

U.S. Lined Tank Market – Scope of Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the lined tank market in the U.S. in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the lined tank market in the U.S. so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the lined tank market in the U.S. would expand during the forecast period of 2019 to 2023.

The report offers intricate dynamics about different aspects of the lined tank market in the U.S., which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the lined tank market in the U.S. during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the lined tank market in the U.S. and estimates statistics related to growth of the market in terms of volume (units) and value (US$ Mn).

This study covers a detailed segmentation of the lined tank market in the U.S., along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the lined tank market in the U.S., wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on U.S. Lined Tank Market

The report provides detailed information about the lined tank market in the U.S. on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the lined tank market in the U.S., so as to help them design successful strategies and make target-driven decisions.

  • Which end use segment of the lined tank market in the U.S. would emerge as a major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of lined tanks?
  • What would be the Y-o-Y growth trend of the lined tank market in the U.S. between 2021 and 2023?
  • What are the winning imperatives of leading players operating in the lined tank market in the U.S.?
  • Which tank type vs. lining material segment is expected to create lucrative opportunities for the lined tank market in the U.S. during the forecast period?
  • Which are the leading companies operating in the lined tank market in the U.S.?

Research Methodology – U.S. Lined Tank Market

The research methodology adopted by analysts for compiling the lined tank market in the U.S. report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the lined tank market in the U.S.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the lined tank market in the U.S.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the lined tank market in the U.S.

U.S. Lined Tank Market – Segmentation

TMR’s research study assesses the lined tank market in the U.S. in terms of tank type vs. lining material and end use. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the lined tank market in the U.S.

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)
End Use
  • Semiconductors
  • Water Storage
  • Chemicals
  • Oil & Gas
  • Food & Beverages
  • Pharmaceuticals
  • Others (Specialty Chemicals)

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