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Plastic Water Storage Tank Market is Anticipated to Grow with an Effective CAGR During 2016 - 2026
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The plastic water storage tanks are generally used to reserve water for daily usage in domestics, commercial and industrial spaces. Also, plastic water storage tanks provides water storage facility for variety of applications like, fire suppression reserves, agriculture and irrigation, chemical manufacturing, food processing, waste water containers and various other.
Urbanization trend, real estate investments, increasing fresh water withdrawal rates and consumption of water for various domestic, industrial and commercial applications is creating substantial demand for effective and economical water storage methods, which in turn is expected to drive growth of plastic water storage tanks globally. As water is supplied directly to every individual through pipelines, which is farther stored on rooftops or elevated tanks for daily needs, durability is one of the key attributes what customers demand in plastic water storage tanks. With increasing global population and construction activities the plastic water storage tank market is estimated to attain higher growth rates. Also, increasing involvement of plastic water storage tanks in modern irrigation techniques and other industrial applications is anticipated to boost up the global plastic water storage tank market.
Plastic water storage tanks are generally made by recycled plastics which reduces its manufacturing costs. However, voluminous size of these storage tanks increases the transportation costs. Which ultimately turns into a restrain for interstate or international trades. Also, extreme climatic conditions in northern hemisphere region offers restrains to plastic water storage tank market.
In recent trends, the manufactures are coming up with advance polymers which are more durable and offering increased life in extreme climates. Also, increasing thermal insulation, UV rays protection, algae formation protection, rust proofing, virgin plastics, multi-layer, leak proofing are some of the treading features emphasizing demands in plastic water storage tank market.
The plastic water storage tank market can be segmented into various categories based on type of polymer used, type of plastic, shape, size, application. Based on type of polymer the plastic water storage tank market can be segmented as polyethylene, fiber glass and others. Based on type of plastic – virgin and recycled. Based on shape - cylindrical, rectangular and other. Based on size –small (
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