Floating Covers Market

Floating Covers Market: Asia Pacific and Western Europe to Collectively Account for More Than 60% Value Share by 2018 End: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2027

  • 2018-12-07
  • REP-GB-5728
  • 185 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Floating Covers Market

This study offers a comprehensive, 360 degree analysis on the Floating Covers market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Floating Covers market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

According to Future Market Insights’ latest market report titled “Floating Covers Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2027”, the increasing adoption of floating covers for various applications is expected to escalate the growth of the floating covers market, during the forecast period. Globally, the revenue generated by the floating covers market has been estimated to be around US$850.0 Mn in 2018 and is projected to increase at a CAGR of 4.8% in terms of value during the forecast period.

Floating Covers – Market Definition

Floating covers are geosynthetic covers placed over above-ground reservoirs, and help prevent contamination of stored liquid from outside sources such as animal waste, which can reduce water portability, evaporation of the contained liquid, prevent nasty odours, and minimize the emission of volatile organic compounds. Water stored within a reservoir that features a floating cover will have superior chemical stability, reducing the use of chlorine and other balancers for the storage of potable water. Floating covers have a modest & low maintenance design. Floating covers are made with a geomembrane that has high UV tolerance and extremely low permeability, ensuring long-term protection of the reservoir contents against rain, snow, and damage from UV rays.

Floating Covers – Market Dynamics

The fast-paced growth of the floating covers market is due to their excellent properties. High UV resistance, durability, lightweight, strength, economical nature, and robust yet flexible nature make them ideal for various applications. This factor is likely to fuel the growth of the global floating covers market during the forecast period.

Floating covers are globally used to protect water from evaporation, odour, algae, or any other external contamination. Many users consider floating covers to be the best solution for water prevention. This factor is expected to fuel the growth of the global floating covers market during the forecast period. Globally increasing awareness about the storage and protection of water from various water bodies such as, a pond, is foreseen to create a significant demand for floating covers during the forecast period.

The unimaginable quantity of industrial wastewater generated daily needs to be stored properly for treatment. Hence, the extensive use of floating covers for wastewater/liquid treatment is expected to fuel the growth of the global floating covers market during the forecast period. Also, the significant use of floating covers for chemical treatment, food processing and brewing, utility, and others is expected to push the growth of the global floating covers market during the forecast period.

Regardless of the positive outlook, floating covers take a longer time to biodegrade. The plastic material, mainly linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), Polyvinyl Chloride (PVC), and Polypropylene (PP) used for the production of floating covers require years to biodegrade, which appears as a major restraint for the floating covers market. When exposed to sunlight, polyethylene chains become fragile and then turn into microscopic granules. Some scientists doubt whether these granules ever decompose fully. This could also affect marine and terrestrial environments and may pose a risk of infiltration of plastic particles through marine food. Due to this, consumers are becoming more aware of the ill-effects of plastic covers which eventually may hamper the growth of the floating covers market in the near future.

Global Floating Covers Market Competition Analysis

Detailed profiles of floating covers manufacturers are also included in the report to evaluate their strategies, key product offerings, financials, and recent developments. The key players operating in the global floating covers market include 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 amongothers.

Few of the key developments & trends observed among floating covers manufacturers are:

  • Various floating covers manufacturers are channelizing their efforts to strengthen their business across the globe. In order to achieve this, they are following a strategy of acquisition and expansion.

    • On 22nd August 2017, Raven Industries Inc. signed an agreement to acquire Colorado Lining International. This transaction involved the paying of approximately US$14 million to Colorado Lining International.

    • On 1st March 2017, Raven Industries Inc. announced additional production capacity in Texas. This expansion will help the company to process its raw material into finished containment.

  • In order to retain and increase their customer base, floating covers manufacturers are aiming for premiumization of floating covers along with keeping consumer convenience at the epicentre.

In the global floating covers market report, we have discussed individual strategies followed by company profiles. The ‘Competitive Landscape’ section is included in the floating covers market report to provide report audiences with a dashboard view and company share analysis of top manufacturers operating in global floating covers market.

In this report, Future Market Insights (FMI) offers forecast data of the global floating covers market between 2018 and 2027. In terms of value, the global floating covers market is expected to expand at a CAGR of 4.8% during the forecast period. The study reveals the dynamics of the floating covers market in six geographic segments, along with a market analysis for the current market environment and future scenario over the forecast period.

Floating Covers Market - Report Description

This Future Market Insights report studies the global floating covers market for the period 2018–2027. The prime objective of this report is to offer insights and key market trends pertaining to the global floating covers market that are gradually helping transform global businesses.

The global floating covers market report begins with an executive summary of various categories and their share in the floating covers market. It is then followed by market definition, market taxonomy, market dynamics and an overview of the global floating covers market, which includes FMI analysis of the market drivers, restraints, and trends that are affecting the growth of the floating covers market. Furthermore, to understand the Y-o-Y trends of the floating covers market, a Y-o-Y analysis with elaborated insights on the same are provided.

The global market for floating covers is further segmented as per material type and application type. On the basis of material type, the global market for floating covers is segmented into linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), Polyvinyl Chloride (PVC), Polypropylene (PP), and others. On the basis of application type, the global market for floating covers is segmented into mining storage ponds, agriculture (slurry, lagoons), waste water/liquid treatment, food processing & brewing, chemical treatment, and utilities & others.

The next section of the report highlights the floating covers market by region and provides the market outlook for 2018–2027. The study analyses the drivers that influence the regional floating covers market. The main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The floating covers market report evaluates the present scenario and growth prospects of the regional floating covers market for 2018–2027.

To ascertain the size of the floating covers market in terms of value and volume, revenue generated by the key manufacturers of floating covers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value across the floating covers market. In order to provide an accurate forecast, we initiated by sizing up the current market with the help of the parent market. We gathered data from secondary research and validated it through primary research. Also, we form the basis of how the floating covers market is expected to develop in the future by taking into account the opinions of industry experts. Given the characteristics of the floating covers market, we triangulated the outcome on the basis of three different types of analysis- based on the supply side, downstream industry demand, and economic envelope. In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters to understand the predictability of the floating covers market and identify the right opportunities across the floating covers market.

To understand the key segments in terms of growth of the floating covers market, globally, Future Market Insights also provides the historical and forecast growth rate data of segments. This date will offer a deep understanding about the nature of the global floating covers market.

The segments for the global floating covers market have been analysed in terms of their market share to understand the individual segment’s relative contributions to floating covers market growth. This detailed level of information is important for identifying the key trends in the floating covers market.

Floating Covers Market – Competition Landscape

In the final section of the report on floating covers, a 'dashboard view' of companies is provided to compare the current industrial scenario and their contribution to the total floating covers market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the floating covers marketplace.

Floating Covers Market – Company Profiles

Detailed profiles of companies are also included in the global floating covers market report to evaluate their strategies, key product offerings, and recent developments. Key players operating in the global floating covers market include 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 among others.

Floating Covers Market – Research Methodology

The robust methodology used by analysts at FMI for deducing floating covers market data is also included in this report. A demand-side approach is followed to estimate the sales of floating covers, followed by an in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on the use of standard market structures, methods, and definitions that are based on inputs from local sources in over 6 regions i.e. Western Europe, Eastern Europe, Asia-Pacific, the Middle East and Africa, Latin America, and North America, which FMI considers for segmenting the global floating covers market. Statistics, characteristics, and variances are collected at regional levels, aggregated at the same level, and then synthesized at the worldwide level to create global floating covers market measurements.

Key Segments Covered in the Global Floating Covers Market

By Material Type

  • Linear Low-density Polyethylene (LLDPE)

  • High-density Polyethylene (HDPE)

  • Polyvinyl Chloride (PVC)

  • Polypropylene (PP)

  • Others

By Application Type

  • Mining Storage Ponds

  • Agriculture (Slurry, Lagoons)

  • Waste Water/Liquid Treatment

  • Food Processing & Brewing

  • Chemical Treatment

  • Utilities & Other

 By Region

  • North America

    • U.S.

    • Canada

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Western Europe

    • Germany

    • U.K.

    • Spain

    • France

    • Italy

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • Rest of Eastern Europe

  • Asia Pacific (APAC)

    • China

    • India

    • ASEAN Countries

    • Japan

    • Australia & New Zealand

    • Rest of APAC

  • Middle East and Africa (MEA)

    • GCC Countries

    • Northern Africa

    • South Africa

    • Turkey

    • Israel

    • Rest of MEA

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