Differentiated Application to Pave Way for Cone Bottom Tank Market Growth
Cone bottom tank is preferred when complete drainage of fluid is required. The cone-shaped bottom tank has an active feature that makes it possible to empty the tank, especially the one having sludge content in it, which is difficult to drain out. With its diversified applications, the growth of cone bottom tank is expected to grow at a rapid pace with the respective growth in industries such as wine industry, industrial manufacturing, fertilizer industry, chemical processing industry and others.
The list of end-use industries purchasing cone bottom tank is further strengthened by the including food processing and medical applications such as hemodialysis, buffer mixing, reverse osmosis and blending, under the approval of Food and Drug Administration (FDA) in the United States. Growing water filtration plant across the world owing to rapid urbanization, rising consumers consuming wine, increased use of fertilizers in the developing countries are some of the reason pushing these industries to expand in the coming time and along with that cone bottom tank market is also expected to grow.
What are the Dynamics behind Cone Bottom Tank Market Growth?
The major driver of cone bottom tank market is its utility in the end-use industries that is to hold water, wine, fuel, fertilizers, and other fluids inside or outside industries. Due to rapid urbanization across the world, some of these markets are expected to observe strong growth in the coming times, which incidentally aid cone bottom tank market. Due to its ability to separate solid from liquid (sedimentation tank), the tank can also found its utility in municipal water treatment plants. Many of the manufacturers are now using medium or high-density PET with U.V. inhibitors. Along with this, manufacturers are aiming to design cone bottom tank for containment liquids of specific gravity even more than 1.7.
However, cone bottom tanks are needed to be mounted on a plastic (HDPE/LDPE) or metal support frame, additional vertical space is required to install it. Therefore, companies may have to purchase smaller tanks if they have height restrictions. Among other restraints of cone bottom tank market, one is the additional safety precaution require to provide while cleaning the bottom of the tank. The high cost of cone bottom tank, due to the additional cost of the support frame, is another factor inhibiting the growth of the market. This drawback has created the opportunity for its substitute tank such as IMFO tank.
Cone Bottom Tank Market: Segmentation
The global extrusion aids market is bifurcated into three major segments which are classified as: material type, degree of slope, tops type, end-use industry, application and sales channel.
Based on the material type, cone bottom tank market can be segmented into:
Based on the degree of slope, cone bottom tank market can be segmented into:
Based on the tank capacity (in US gallons), cone bottom tank market can be segmented into:
- Less than 1800 Gal.
- 1800 – 3500 Gal.
- More than 3500 Gal.
Based on the tops type, cone bottom tank market can be segmented into:
- Closed Dome
- Closed Flat Top
- Open Top with a 90° angle
- Flanged Rim
Based on the application, cone bottom tank market can be segmented into:
- Water Storage
- Wine Fermentation
- Biodiesel and Biofuel
- Fuel Holding
- Fertilizers (Ammonium Nitrate)
Based on the end-use industry, cone bottom tank market can be segmented into:
- Chemical Processing
- Industrial Manufacturing
Based on the sales channel, cone bottom tank market can be segmented into:
- Direct Sales
- Retail Sales
- Modern Retail
- Online Retail
What is the Regional Standpoint in Cone Bottom Tank Market?
Rapidly developing regions such as the Asia Pacific and Latin America are seeking the growth of cone bottom tank market, since these regions are expanding by investing in agriculture, pharmaceuticals and industrial manufacturing in their countries. North America, Europe and East Asia have the largest market of cone bottom tank due to their manufacturing sector. Many new types of industries have been set up in North America and Europe, which has cone bottom tank at their utility. Oceania, however, has last at the bottom due to their weak industrial sector, except industrial manufacturing. As the government in the Middle East in shifting their unilateral focus from the oil industry to other manufacturing sectors, the region is also expected to account for satisfactory growth of the cone bottom tank market. Moreover, due to rising urbanization, the manufacturing sector of developing countries is growing at a rapid pace. Due to cheap labour and easy availability of raw material in countries such as India, Argentina, Chile, Iran, Indonesia and South Africa, the demand for cone bottom tanks market is likely to grow along with it.
How Key Players are competing in Cone Bottom Tank Market?
Polyprocessing Solutions, All Plastics and Fiberglass, Inc., Park Plastic products, Roto Dynamics Inc., Sterling Technologies, Inc., Buchholz-Smith, Inc., Sherman Roto Tank, Applied Membranes, Inc. and Assmann Corp. of America are some of the leading manufacturers of cone bottom tank across the world. Companies such as Polyprocessing Solutions is providing PET tanks with U.V. inhibitors to attract a certain segment of cone bottom tank industries. Owing to the opportunity raised by online retailing, many cone bottom tank manufacturers, such as United States Plastic Corporation, are selling the tank online using their website.
Since cone bottom tank has found application in numerous industries, specifications of the tank may require certain customizations. Several companies such as Paul Mueller Company, Tamco Industries, Alloy Products Corp., Pittsburg Tank & Tower Group, Augusta Fiberglass, Seelye Acquisitions, Inc., and Applied Chemical Technology, Inc. fulfils the demand of industry to have cone bottom tank with such requirement. Several leading distributors of cone bottom tanks include Go To Tanks, Frain Industries, Green Rubber-Kennedy AG, LP and Jamieson Equipment Co., Inc.
How Covid-19 Outbreak Affected the Sales of Cone Bottom Tank Market?
The pandemic of COVID – 19 caused by the SARS-2 coronavirus has had severe impacts on the global cone bottom tank market. The key reason being the inability and restrictions laid due to the prevention of the spread of the disease, on supply & demand of the product in various regions of the globe. The government initiated measures like lockdowns have halted the transportation facilities thereby affecting the market adversely. Moreover, due to the threat caused by the disease, there has been an extensive imbalance in the working model of several companies due to the absence of employees following the lockdown rules, about this product which too has affected the market negatively. A surge in product costs and lesser demand in this period due to COVID - 19 are also some considerable factors which have had an impact on the cone bottom tank market globally.
However, due to its differentiated applications, cone bottom tank market is expected to recover from this setback, once the global market comes into normal. COVID 19 has assisted many governments across the globe to create good relations among them, which will be helpful in the development of the global market in the post-COVID-19 times.
The research report presents a comprehensive assessment of Cone bottom tank market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
Cone bottom tank market report covers exhaustive analysis on:
- Market Segments of Cone bottom tank market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends / Issues / Challenges
- Competition & Companies Involved
- Value Chain of Cone bottom tank market
Regional analysis includes:
- North America (U.S, Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Rest of South Asia)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- Middle East (GCC Countries, Israel, Turkey, Egypt, Rest of Middle East)
- Africa (Nigeria, South Africa, Algeria, Morocco, Rest of Africa)
Cone bottom tank market report is a compilation of first-hand information, qualitative and competitive assessment industry analysts, and inputs from industry experts and industry participants across the value chain. The report for the cone bottom tank market provides an in-depth analysis of the parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of the cone bottom tank market.
- Changing market dynamics in the cone bottom tank market.
- In-depth cone bottom tank market segmentation.
- Historical, current, and projected market size in terms of volume and value.
- Recent industry trends and developments in the cone bottom tank market.
- Competitive landscape.
- Strategies of key players and products offered.
- Potential and niche segments, geographical regions exhibiting promising growth for the cone bottom tank market.
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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