Global Plastic Water Storage Tank Market: Overview
Water storage plays an important role for commercial, industrial, and residential or domestic purposes. Plastic water storage tank is one of the best alternatives of conventional water storage methods. It is a highly durable light weight tank, which occupies less storage area vis-à-vis concert or cement tanks. Additionally, plastic water storage tanks are flexible than conventional storage tanks. These are some of the benefits of plastic water storage tanks that are driving the market. Different materials are used to make plastic water storage tanks such as polypropylene or fiber glass materials and linear low density polyethylene. Increase in applications such as agriculture and irrigation, suppression reserves, chemical manufacturing, wastewater containers, and food processing are augmenting the plastic water storage tank market.
Plastic storage tanks are manufactured based on type of liquid to be stored. These tanks have storage capacity of about 1.5 to 1.9 specific gravity. Plastics used for storage tanks are generally have easy visibility of the liquid level. These type of tanks are widely used for the storage of liquids including non-potable water, potable water, liquid fertilizers, diesel exhaust fluid (DEF), farm & agriculture chemicals, industrial chemicals, cleaning agents, soaps, waste vegetable oil, brine and other High Density Polyethylene (HDPE). Plastic Water Storage Tank Market are used in emergency water storage, well water storage systems, livestock watering applications, irrigation systems, and agricultural watering.
Increase in population has boosted the demand for Plastic Water Storage Tank Market across domestic and public service enterprises in rural and urban areas. About half of the world’s population is estimated to face severe water scarcity in the near future. Thus, rise in concerns about conventional water usage due to the shortage of potable water across many regions is driving the global plastic water storage tanks market. Additionally, increase in global construction and industrialization activities is anticipated to fuel the plastic water storage tank market. Plastic water storage has been growing worldwide due to its manufacturing process. It is usually made by reprocessed plastics. This helps lower production costs. However, voluminous size of these storage tanks increases transportation costs. This is expected to restrain the market. However, extreme climatic conditions in Asia Pacific region is also one of the key factors hampering the plastic water storage tank market.
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Based on region, the global water storage tank market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Developed economies in Europe and North America have contributed significantly toward the growth of the global plastic water storage tank market. Asia Pacific offers high potential for the plastic water storage tanks market. Countries such as India are facing severe water shortage in Asia Pacific. This is augmenting the demand for water storage systems in the region. Growth in the plastic water storage tanks market in Asia Pacific can be ascribed to wide oil and gas production activities that require fresh as well as reused water.
Key players operating in the global plastic water storage tank market include Niplast Storage Tanks, Sintex Industries Ltd, American Tank Co., Inc., GHP Manufacturing Pty Ltd, Protank, Karplas Composite Plastic Fiberglass Co., Cotterill Civils Ltd., Emiliana Serbatoi S.r.l., Carbery Plastics Limited, Enduramaxx Limited, Plastic Proget European (PPE) S.r.l., Nova Plastic Industries L.L.C, and Al Bassam International Factories L.L.C.
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