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Floating Covers Market

Floating Covers Market by Material Type (Linear Low-density Polyethylene (LLDPE), High-density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polypropylene (PP)), Application (Mining Storage Ponds, Agriculture, Waste Water/Liquid Treatment, Food Processing & Brewing), and Region for 2022-2027

Floating Covers Market by Material Type (Linear Low-density Polyethylene (LLDPE), High-density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polypropylene (PP)), Application (Mining Storage Ponds, Agriculture, Waste Water/Liquid Treatment, Food Processing & Brewing), and Region for 2022-2027

Floating Covers Market - Analysis, Outlook, Growth, Trends, Forecasts

Floating Covers Market Outlook – 2022-2027

[185 Pages Report] Sales in the global floating covers market are slated to top US$ 1.01 Bn in 2022. Expanding at a healthy 4.8% CAGR, the market size is projected to total US$ 1.29 Bn by 2027.

Attribute

Details

Floating Covers Market Estimated Size 2022

US$ 1.01 Bn 

Floating Covers Market Value-based CAGR (2022-2027)

~4.8%

Floating Covers Market Size in Projected 2027

US$ 1.29 Bn

Made from geomembrane, floating covers have excellent ultra-violet resistance properties with highly reduced permeability. Their demand is expected to surge as organizations seek packaging solutions for long-term protection of the contents of tanks against ultraviolet rays, snowflakes, and heavy rainfall.

These covers can be easily placed over the reservoir ground owing to their geo-synthetic properties. The t need to protect the liquid stored in the reservoir against pollution is set to propel the growth in this market.

These covers can also be retro-fitted to the existing tanks and lagoons because they are easy to install. These act as a barrier from unwanted debris, such as dirt, leaves, and bird droppings, thereby stopping the contamination of the liquid and preventing the growth of algae.

2013-2021 Floating Covers Market Outlook in Comparison to 2022-2027 Growth Forecast

The floating covers market is expected to register 4.8% CAGR between 2022 and 2027, up from 4.0% CAGR recorded during 2013-2021.

The large-scale application of floating covers in a wide range of industries is anticipated to impact the market positively in the near future. When water is stored in a tank under the floating covers, it gradually develops high stability. Thus, their usage is likely to increase in the upcoming years.

Besides this, the rising awareness regarding the protection and safe storage of water bodies such as lakes and ponds is anticipated to create growth opportunities for the market in the forthcoming years.

These covers are also cost-effective and allow the snow or rain to melt or pass through specific areas, without contaminating the water. These properties are expected to bolster the growth in this market by 2027.

How Is The Need To Control Pond Water Temperature Affecting The Floating Covers Market?

Increasing number of resource processing and mining projects in places where the rate of evaporation and water scarcity is high, is expected to drive the demand for floating covers. The water resources in these areas need to be protected and therefore floating geomembrane covers are anticipated to gain immense popularity.

Furthermore, the urgent need to control pond water temperatures is likely to propel growth in the market. Various manufacturers are introducing novel products to meet the high unmet needs of customers across the globe.

Layfield, for instance, offers REVOC Insulated floating cover that adds a layer of insulation permanently on the top of open ponds. This additional layer is capable of controlling water temperatures and conserving the energy for heated water ponds. The development of such state-of-the-art products by leading players is projected to drive the market in the forthcoming years.

Floating Covers Market - Country-wise Insights

How Is The China Floating Covers Market Faring?

Increasing farming activities in China are projected to boost the floating covers market. In addition to this, the surging usage of floating covers in waste water treatment units and water storing plants is expected to drive the growth.

The market also will gain from the implementation of various stringent regulations by the government to protect water bodies from pollution is set to accelerate the market. For instance, in December 2021, the National People's Congress of the People's Republic of China put forward a new rule for protecting wetlands.

This rule prohibits the permanent blockage of water sources to natural wetlands, as well as land reclamation and drainage on wetlands. Similar initiatives by the government are anticipated to support the market in China.

Which Factors Are Propelling The U.S. Floating Covers Market?

The high demand for treated water from the pharmaceutical and beverages industries is expected to bolster the floating covers market in the U.S. Also, the demand for demineralized water owing to the urgent need for high power generation for supporting industrial growth is likely to augment the market.

Moreover, the rising demand for freshwater protection in the country is anticipated to push the market. According to the University of Michigan’s Center for Sustainable Systems, around 322 billion gallons of water was used per day in 2015 in the U.S., out of which, 87% was freshwater. This number is likely to rise in the near future, thereby providing new growth opportunities in the country.

Will The U.K. Floating Covers Market Exhibit High Demand?

The presence of various renowned floating cover manufacturers is likely to boost the growth in the U.K. during the assessment period. These manufacturers are consistently aiming to develop state-of-the-art products to cater to the high demand from customers.

In October 2021, for instance, Genap, a leading provider of waterproof solutions, joined hands with an international dealer to supply and install slurry lagoon covers to Hilderstone Farm in Trent, U.K. These covers are made of Genatex 850 reinforced PVC and they are capable of reducing emissions in the environment. These industry developments in the country are likely to propel the demand for unique floating covers over the forecast period.

Floating Covers Market - Category-wise Insights

Why Is The LLDPE Material Type Preferred For Floating Covers?

Based on material, the linear low-density polyethylene (LLDPE) segment is likely to remain at the forefront. LLDPE covers are best suited for applications requiring high material flexibility, durability, and strength.

In addition to this, LLDPE covers are capable of elongating under stress, which enables them to maintain their integrity without getting damaged under localized differential settlement situations. These are also resistant to ultraviolet exposure and low temperatures. Such types of covers are extensively used in various applications such as retention ponds, lagoons, raw water treatment reservoirs, and canals.

Which Is The Leading Application Of Floating Covers?

In terms of application, the waste water/liquid treatment segment is expected to account for 29.9% of the floating covers market in 2022, finds FMI. This growth is attributable to the increasing usage of these covers in waste water treatment plants to insulate the buildup of organisms, dissuade wildlife from accessing the water, and prevent odors.

Furthermore, the increasing government initiatives in various countries to curb the illegal discharge of waste water and pollution of naturally occurring water bodies are anticipated to drive the growth of this segment. According to the United Nations, more than 80% of waste water is released into the environment worldwide without adequate treatment. This is likely to propel the need for waste water treatment and bolster the growth.

Floating Covers Market - Competition Landscape

The floating covers market exhibits the presence of a large number of manufacturers. In order to gain competitive edge, they are engaging in collaborations, mergers and acquisitions, and joint ventures. Apart from this, some of the key players are focusing on bagging new orders from renowned firms to provide their in-house products for usage in numerous projects.

For instance,

  • In November 2021, Layfield Geosynthetics, a vertically-integrated manufacturing, distribution, and installations company based in Canada, bagged a new order for the installation and supply of a CSPE liner and floating cover system. The project includes the construction of a new 840,000 ft2 45 mil CSPE defined sump floating cover system and the demolition of the old liner and cover at the Pittsburgh Water and Sewer Authority’s Highland 2 Reservoir.
  • In November 2021, Raven Industries, Inc., a reputed manufacturer of agriculture products and plastic films headquartered in the U.S., was acquired by CNH Industrial N.V., a leading company in the capital goods sector. This acquisition would enable the latter to significantly enhance its competitive position by adding robust innovation capabilities of Raven.

Scope Of Report

Attribute

Details

Forecast Period

2013-2021

Historical Data Available for

2022-2027

Market Analysis

Units for Volume and US$ Mn for Value

Key Regions Covered

North America, Latin America, Western Europe, Eastern Europe, APEJ, and MEA.

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Material Type, Application, and Region

Key Companies Profiled

 

Pricing

Available upon Request

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Floating Covers Market By Category

By Material Type:

  • Linear Low-density Polyethylene (LLDPE)
  • High-density Polyethylene (HDPE)
  • Polyvinyl Chloride (PVC)
  • Polypropylene (PP)
  • Others

By Application:

  • Mining Storage Ponds
  • Agriculture (Slurry, Lagoons)
  • Waste Water/Liquid Treatment
  • Food Processing & Brewing
  • Chemical Treatment
  • Utilities & Other

By Region:

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • Asia Pacific excluding Japan
  • Middle East and Africa

Key Questions Answered in the Report

What is the global floating covers market size?

The global floating covers market is expected to reach a valuation of US$ 1.01 Bn in 2022.
The global floating covers market grew at a healthy 4.0% CAGR between 2013 and 2021.
The increasing need to protect water bodies from pollution, rising waste water treatment activities, and surging development of innovative products are key trends boosting the sales of floating covers.
Raven Industries Inc., GSE Environmental, Inc., Royal TenCate, Cooley Group, Nilex Inc., FLI France SAS, Hexa-Cover A/S, Industrial & Environmental Concepts, Inc., Advanced Water Treatment Technologies, and Aquatan (PTY) Ltd are some of the leading players present in the global floating covers market.
The waste water treatment application is set to account for 29.9% of the global floating covers market share in 2022.

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