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.
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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.
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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.
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