Glass Fused Bolted Steel Tank Market CAGR, size, share, ...

According to Stratistics MRC, the Global Glass Fused Bolted Steel Tank Market is growing at a CAGR of 5.68% during the forecast period. A glass-fused-to-steel (GFS) bolted steel tank is a type of storage tank that combines the structural strength of steel with the chemical and corrosion resistance of glass. These tanks are constructed by fusing a layer of glass to the steel substrate in a controlled factory environment. The process involves coating both the interior and exterior surfaces of steel sheets with a specially formulated glass enamel. The coated sheets are then fired at high temperatures to bond the glass to the steel, creating a durable and corrosion-resistant finish.



Market Dynamics:

Driver:

Corrosion resistance

Steel tanks with glass bonded to them have a very good corrosion resistance. Water, wastewater, and other chemicals may all be stored in these tanks because of the glass coating on the steel that acts as a barrier to keep out corrosive substances. The glass coating's non-porous, smooth surface reduces the likelihood that corrosion will start. Corrosion is less likely because corrosive substances find it harder to stick to the tank's surface. These are the factors propelling the growth of the market.

Restraint:

Limited size range

The restriction on storage capacity is the main drawback of a narrow size range. Insufficient storage capacity or excessive unused capacity arises when the project's precise volume needs do not align with the tank sizes that are already available. Finding the right tank for some projects might be difficult due to limited size ranges, particularly for those with specific requirements or high storage demands. These are the things impeding the market's expansion.

Opportunity:

Low maintenance requirements

The maintenance needs for glass-fused steel tanks are often modest. The glass coating is easier to clean and less likely to scale because of it&#;s smooth, non-porous surface. Maintaining maximum performance and corrosion resistance over time requires routine maintenance. Because these tanks require less upkeep, fewer materials and less energy are used for maintenance tasks. These are the variables driving the market's expansion.

Threat:

High installation cost

These tanks cost more than other tank materials, such as concrete. The possibility of a greater initial cost should be taken into account, especially for initiatives with limited funding. These tanks may nevertheless require more assembly work than certain other types of tanks, even if their bolted construction makes installation simpler than with welded tanks. Skilled labour is needed for proper installation, and mistakes made during construction might compromise the tank's functionality. This is the element impeding the market's expansion.

Covid-19 Impact:

The pandemic has caused supply chain disruptions on a worldwide scale, which has an impact on the availability of components and raw materials for manufacture. Supply chain hiccups may result in lower output or higher expenses. Lockdowns and economic uncertainty may have caused some industries&#;like infrastructure projects or commercial construction&#;that frequently utilize glass-fused bolted steel tanks to see a decline in activity. This can lead to a decline in the market for storage solutions.

The liquid fertilizer storage tanks segment is expected to be the largest during the forecast period

The liquid fertilizer storage tanks segment is expected to be the largest during the forecast period. Corrosive compounds are frequently found in liquid fertilizers. These storage tanks offer a safe and secure way to store a range of liquid fertilizers without sacrificing the structural integrity of the tank since they are made to resist the chemical reactions that may happen. A large variety of temperatures may be tolerated by these tanks. This is especially crucial for liquid fertilizers since they might have temperature swings.

The construction segment is expected to have the highest CAGR during the forecast period

The construction segment is expected to have the highest CAGR during the forecast period. Seismic resistance is provided by the bolted design and the intrinsic strength of the glass-fused covering. In areas that are vulnerable to earthquakes, this may be vital. Compared to traditional tank building techniques, the bolted design of these tanks enables a quicker and easier installation. As a result, there are financial savings and less downtime during building.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The construction and installation of these tanks is the area of expertise for several businesses. This is especially crucial in places with varying climates, such as those where corrosion can be exacerbated by severe weather, temperature swings, and exposure to other environmental factors. The glass covering prolongs the tank's life by acting as a strong barrier against corrosion.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. To make sure that the selected solution satisfies the demands of the community or business, it is critical to assess the particular project requirements, local rules, and environmental factors. These tanks are adaptable and may be utilized in a variety of scenarios, such as agriculture, industrial processing, wastewater treatment, and water storage. In order to meet the wide range of demands in the area, the flexibility of usage is beneficial.



Key players in the market

Some of the key players in Glass Fused Bolted Steel Tank market include TF Warren Group, Permastore Limited, Center Enamel Co., Ltd., Balmoral Tanks, Silo Construction & Engineering, CST Industries, Inc., GFS Tanks, Joemillars Aquatek, Tank Connection, Greatario Engineered Storage Systems, Harris Pye Engineering Group, Phillips Tank & Structure and Hendic B.V.

Key Developments:

In October , Permastore and Tata Steel have agreed on a deal that allows Permastore to offer options for ZeremisTM Carbon Lite in its Glass-Fused-to-Steel and Epoxy coated modular bolted storage containment tanks and silos.

In June , Slipform Engineering and Spencer Group combine for cement silo project as construction boom drives demand. These companies were selected by Damac Group to carry out the project following the successful delivery of a similar, 46m (151ft) high facility to expand the company&#;s operations.

Types Covered:
&#; Liquid Fertilizer Storage Tanks
&#; Potable Water Storage Tanks
&#; Wastewater Storage Tanks
&#; Chemical Storage Tanks
&#; Liquid Fertilizer Storage Tanks
&#; Slurry Storage Tanks
&#; Other Types

Materials Covered:
&#; Glass-Fused Steel
&#; Stainless Steel
&#; Carbon Steel
&#; Other Materials

Applications Covered:
&#; Fire Protection
&#; Petrochemical
&#; Power Generation
&#; Agriculture
&#; Construction
&#; Aquaculture
&#; Other Applications

Regions Covered:
&#; North America
o US
o Canada
o Mexico
&#; Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
&#; Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
&#; South America
o Argentina
o Brazil
o Chile
o Rest of South America
&#; Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years , , , , and
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
&#; Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
&#; Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
&#; Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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