Lucintel Forecasts Chemical Storage Tank Market To Reach $6 Billion By 2030

By Author: Lucintel LLC
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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 you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, 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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