Tank Liner Market To Reach $777.1 Million, Globally, By 2032 At 5.4% CAGR: Allied Market Research


(MENAFN- GlobeNewsWire - Nasdaq) Major players in the tank liner industry have focused on business expansion and product launch strategies to gain the maximum share in the market. This further results in consolidation of the tank liner market.

Wilmington, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Allied market Research published a report, titled, " Tank Liner Market by Type (PVC Liner and PE Liner), and Application (Water Tanks and Oil Tanks): Global Opportunity Analysis and Industry Forecast, 2024-2032" . According to the report, the tank liner market was valued at $476.0 million in 2023, and is estimated to reach $777.1 million by 2032, growing at a CAGR of 5.4% from 2024 to 2032.

Prime determinants of growth

The primary driver of the tank liner market is the need to protect tanks from corrosion. Liners prevent the direct contact of the tank material with corrosive substances, thereby extending the life of the tanks and reducing maintenance costs. Tanks used to store aggressive chemicals and hazardous materials require liners that can resist chemical reactions. The demand for liners that can withstand a wide range of chemical interactions is a significant market driver, especially in industries like chemicals, oil & gas, and pharmaceuticals.

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Report coverage & details:

Report Coverage Details
Forecast Period 2024–2032
Base Year 2023
Market Size in 2023 $476.0 million
Market Size in 2032 $777.1 million
CAGR 5.4%
No. of Pages in Report 213
Segments covered Type, Application and Regions.
Drivers Rapid industrialization and infrastructure development
Growth in food and beverage industry
Opportunities Technological Advancements in chemicals and hazardous materials manufacturing
Restraints Volatile price of raw materials

Covid-19 Scenario

  • The outbreak of the COVID-19 pandemic had a negative impact on the tank liner market, owing to the temporary closure of manufacturing firms during the lockdown.
  • Not only the production but also the sale of tank liner was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic.

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The PVC Liner segment is projected to dominate the global tank liner market share, in terms of revenue

Based on product, the market is divided into PVC Liner, and PE Liner. Stringent regulations regarding the storage and handling of hazardous substances mandate the use of protective liners to prevent leaks and environmental contamination. Compliance with these regulations is a critical factor pushing industries to invest in high-quality tank liners. Such factors will drive the growth for PVC liner segment in the global market.

The water tanks segment dominates the market

Based on application, the market is segregated into water tanks and oil tanks. Growing environmental awareness and the need to prevent soil and groundwater contamination drive the adoption of tank liners which fuel the water tanks demand. Industries are increasingly focusing on sustainable practices, which include the use of liners to prevent leaks and spills which propels the growth of the water tanks segment in the global market

The Asia-Pacific dominates the market share in terms of revenue

The tank liner market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. In 2023, Asia-Pacific accounted for more than one-third of the market share, and is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the tank liner industry in the Asia-Pacific region. The water and wastewater treatment industry is a significant consumer of tank liners. Liners are essential to protect tanks used in these processes from corrosion and chemical damage, ensuring the longevity and safety of the infrastructure. In the food & beverage industry, hygiene and contamination prevention are paramount. Tank liners ensure that stored products do not come into contact with the tank material, thus maintaining the purity and safety of food and beverages.

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Leading Market Players: -

  • Fab-Seal Industrial Liners
  • Flexi-Liner, Fabtech
  • Layfield Group
  • Rostfrei Steels
  • Witt Lining Systems
  • Walco
  • Freedom Manufacturing
  • Fleximake
  • Wolftank Adisa

The report provides a detailed analysis of these key players in the tank liner market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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