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Global Tank Cleaning Service market is expected to reach 590 million US$ by the end of 2025
Publisher: QYResearch
Published Date: 2018/12/10
Chemical tankers transport an enormous variety of chemical and oil products in global and short sea trade. Due to this variety the next cargo is almost never identical with the previous cargo. Thus tank cleaning is essential on chemical and product tankers.
The usable tank capacity is reduced by the volume of sludge. The tank operator needs then to clean the tank in order to re-establish its full capacity. In addition to this, national inspection regulations require a leak test every five or 10 years (double floor). To perform this inspection, the tank needs to be completely drained and cleaned. Repair work is often performed on this occasion. The petrochemical industry and tank terminals are increasingly choosing the option of automated rather than manual tank cleaning.
One trend in the market is increasing market for tank cleaning systems as a service. Tank Cleaning Systems that not only clean the tank from inside but also extract hydrocarbons from the sludge have high upfront costs.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Mideast regions.
In 2017, the global Tank Cleaning Service market size was 470 million US$ and it is expected to reach 590 million US$ by the end of 2025, with a CAGR of 3.0% during 2018-2025.
This article was first released by QYResearch, if reproduced, please indicate the source.
- Posted on: 2018-12-09 23:53:18
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- Item ID: 15000789