Global Floating Covers market, which accrued proceeds worth 895.25 (USD Million) in 2019, is set to record the CAGR of nearly 5.2% over the period from 2020 to 2026.
The global Floating Covers market, which accrued proceeds worth 895.25 (USD Million) in 2019, is set to record the CAGR of nearly 5.2% over the period from 2020 to 2026. The report offers assessment and analysis of the Floating Covers market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Details of the Report:
Report Metric |
Details |
Base Year |
2019 |
Historical Data |
2017 and 2018 |
Forecast period |
2020-2026 |
Market Representation |
Earnings provided in terms of USD Million and CAGR estimated from 2020 to 2026 |
Segments Analyzed |
By Applications, By Type, and By Region |
Regions Analyzed |
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa |
Introduction
Floating covers are made up of geomembrane having huge ultra-violet tolerance with highly reduced permeability. This is likely to offer long-term protection for the tank contents against heavy rainfall, snowflakes, and ultraviolet rays. As these covers are geo-synthetic in nature, they are placed over the reservoir ground. It helps in avoiding pollution of liquid stored in the reservoir. Apart from this, the product offers low maintenance costs and are cost-effective.
Market Growth Drivers
The large-scale acceptance of floating covers in myriad sectors will influence the expansion of the industry over the forthcoming years. The product helps in minimizing water evaporation, avoid nasty odors, VoC emissions, and contamination of liquid from animal wastes. This in turn, will steer the growth of floating covers business over the forecast timespan. Apart from this, water that is stored in a tank covered with floating cover is likely to possess huge chemical stability as well as potability, thereby driving the product penetration across various regions across the globe.
In addition to this, the favorable characteristics of the product including high UV resistance, strength, and light-weightiness will embellish the market growth trends. Growing awareness pertaining to storing & protection of water bodies like lakes and ponds is anticipated to create new growth avenues for the floating covers market over the years to come.
Asia Pacific To Make Noteworthy Contributions Towards Global Market Share By 2026
The growth of the market in the sub-continent over the forecast timeline is due to large-scale use of the product in farming activities, water storing plants, and waste –water treating units in various countries. In addition to this, countries like India, Southeast Asian countries, and China are likely to be the key regional revenue pockets during the forecast timespan.
Key players impacting the market growth include Industrial & Environmental Concepts, Inc., FLI France SAS, GSE Environmental, Inc., Aquatan (Pty) Ltd., Cooley Group, Royal TenCate, Raven Industries Inc., Nilex Inc., Hexa-Cover A/S, and Advanced Water Treatment Technologies.
The global floating covers market is segmented as follows:
By type:
By applications:
By Region
FrequentlyAsked Questions
The large-scale acceptance of floating covers in myriad sectors will influence the expansion of the industry over the forthcoming years.
The CAGR of the industry is expected to be over 5.2% during the forecast timeline.
Asia Pacific region will contribute lucratively towards the global market revenue over the estimated timeline.
The key market participants include FLI France SAS, Aquatan (Pty) Ltd, GSE Environmental, Inc., Hexa-Cover A/S, Royal TenCate, Cooley Group, Raven Industries Inc., Nilex Inc., Industrial & Environmental Concepts, Inc., and Advanced Water Treatment Technologies.
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