Oil Storage Market by Type, Material, and Product Design - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4580641
  • Report
  • Region: Global
  • 220 pages
  • Allied Analytics LLP
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The global oil storage market was valued at $3,180 million in 2016 which is growing at a CAGR of 4.4% from 2017 to 2023 to reach to reach at $4,307 million by 2023. Oil storage refers to the mechanism used for the safe storage of different petroleum products. Oil storage is a type of trade in which vertically-integrated companies purchase oil for instant delivery, and store it till the oil price increases. The companies keep the oil in storage until the price of oil increases. The crude oil and natural gas are the naturally occurring petroleum resources and are known as refinery feedstocks, which requires appropriate storage. Petroleum products are transported to the storage facilities from oilfields and then to the refineries.

In 2016, LAMEA led the global market, owing to the presence of large oil reserves, and major export destinations such as Nigeria, Saudi Arabia, Iran, and UAE. In addition, introduction to newer refineries enables the rapid growth in demand for these products. The global market is driven by the growth in need for mega refining hub, import or distribution type facilities, and high degree of product containment. Initiatives, such as strategic petroleum reserve for stockpiling large volumes of oil have enabled the government of the developed as well as the developing countries to protect the supply from price hikes and stock out incidents. However, decline in exploration & production activities and decrease in production investment are expected to impede the market growth.

The global oil storage market is segmented based on type, material, product design, and geography. On the basis of type, it is divided into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas (LPG). On the basis of material, it is categorized into steel, carbon steel, and fiber-reinforced plastic (FRP). Based on product design, it is classified into open top, fixed roof, floating roof, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS
  • This report provides an extensive analysis of the current & emerging market trends and dynamics of the global oil storage market.
  • In-depth analysis of all regions is conducted by constructing the market estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
  • The report assists to understand the strategies adopted by the companies for market expansion.
  • Evaluation of the competitive landscape is provided to understand the market scenario across various regions.
  • Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.
KEY MARKET SEGMENTS

By Type
  • Crude Oil
  • Gasoline
  • Aviation Fuel
  • Naphtha
  • Diesel
  • Kerosene
  • Liquefied Petroleum Gas (LPG)
By Material
  • Steel
  • Carbon Steel
  • Fiberglass Reinforced Plastic (FRP)
By Product Design
  • Open Top Tank
  • Fixed Roof Tank
  • Floating Roof Tank
  • Others
By Geography
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Russia
  • UK
  • Denmark
  • Italy
  • Norway
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Nigeria
  • KSA
  • Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
  • ZCL Composites
  • Belco Manufacturing Company
  • Containment Solutions
  • Sunoco Logistics
  • Oiltanking GmbH
  • Columbian Steel Tank
  • Poly Processing
  • Synalloy Corporation
  • L.F. Manufacturing
  • Red Ewald, Inc.
The other major players in the industry include the following (*these companies are not profiled in the report, but can be added based on interest):
  • Ziemann Holvrieka GmbH
  • Snyder Industries
  • Tuffa Tank
  • Marquard & Bahls
  • Royal Vopak N.V.
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.3.1. By Type
1.3.2. By Material
1.3.3. By Product Design
1.3.4. By Region
1.3.5. List of key players profiled in the report
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Market snapshot
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porters five forces model
3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry
3.4. Top player positioning, 2016
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Need for import and export terminal
3.5.1.2. Increase in demand for mega refining hubs
3.5.1.3. Initiatives for stockpiling large volumes of oil
3.5.2. Restraints
3.5.2.1. Decline in production & exploration activities
3.5.2.2. Decrease in production investment
3.5.3. Opportunities
3.5.3.1. Increase in oil demand

CHAPTER 4: GLOBAL OIL STORAGE MARKET, BY TYPE
4.1. Introduction
4.1.1. Market size and forecast
4.2. Crude oil
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. Gasoline
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.4. Aviation fuel
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.5. Naphtha
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.6. Diesel
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast
4.7. Kerosene
4.7.1. Key market trends, growth factors, and opportunities
4.7.2. Market size and forecast
4.8. Liquefied petroleum gas (LPG)
4.8.1. Key market trends, growth factors, and opportunities
4.8.2. Market size and forecast

CHAPTER 5: GLOBAL OIL STORAGE MARKET, BY MATERIAL
5.1. Overview
5.1.1. Market size and forecast
5.2. Steel
5.2.1. Market size and forecast
5.3. Carbon steel
5.3.1. Market size and forecast, by region
5.4. Fiber-reinforced plastic (FPR)
5.4.1. Market size and forecast

CHAPTER 6: GLOBAL OIL STORAGE MARKET, BY PRODUCT DESIGN
6.1. Introduction
6.1.1. Market size and forecast
6.2. Open top tank
6.2.1. Market size and forecast
6.3. Fixed roof tank
6.3.1. Market size and forecast
6.4. Floating roof tank
6.4.1. Market size and forecast
6.5. Others
6.5.1. Market size and forecast

CHAPTER 7: GLOBAL OIL STORAGE MARKET, BY GEOGRAPHY
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. North America oil storage market, by country
7.2.2.1. U.S.
7.2.2.1.1. Market size and forecast, by type
7.2.2.2. Canada
7.2.2.2.1. Market size and forecast, by type
7.2.2.3. Mexico
7.2.2.3.1. Market size and forecast, by type
7.2.3. North America market size and forecast, by type
7.2.4. North America market size and forecast, by material
7.2.5. North America market size and forecast, by product design
7.3. Europe
7.3.1. Key market trends growth factors, and opportunities
7.3.2. Europe oil storage market, by country
7.3.2.1. Russia
7.3.2.1.1. Market size and forecast, by type
7.3.2.2. UK
7.3.2.2.1. Market size and forecast, by type
7.3.2.3. Denmark
7.3.2.3.1. Market size and forecast, by type
7.3.2.4. Italy
7.3.2.4.1. Market size and forecast, by type
7.3.2.5. Norway
7.3.2.5.1. Market size and forecast, by type
7.3.2.6. Rest of Europe
7.3.2.6.1. Market size and forecast, by type
7.3.3. Europe market size and forecast, by type
7.3.4. Europe market size and forecast, by material
7.3.5. Europe market size and forecast, by product design
7.4. Asia-Pacific
7.4.1. Key market trends growth factors, and opportunities
7.4.2. Asia-Pacific oil storage market, by country
7.4.2.1. China
7.4.2.1.1. Market size and forecast, by type
7.4.2.2. India
7.4.2.2.1. Market size and forecast, by type
7.4.2.3. Indonesia
7.4.2.3.1. Market size and forecast, by type
7.4.2.4. Malaysia
7.4.2.4.1. Market size and forecast, by type
7.4.2.5. Australia
7.4.2.5.1. Market size and forecast, by type
7.4.2.6. Rest of Asia-Pacific
7.4.2.6.1. Market size and forecast, by type
7.4.3. Asia-Pacific market size and forecast, by type
7.4.4. Asia-Pacific market size and forecast, by material
7.4.5. Asia-Pacific market size and forecast, by product design
7.5. LAMEA
7.5.1. Key market trends growth factors, and opportunities
7.5.2. LAMEA oil storage market, by country
7.5.2.1. Brazil
7.5.2.1.1. Market size and forecast, by type
7.5.2.2. Nigeria
7.5.2.2.1. Market size and forecast, by type
7.5.2.3. Saudi Arabia
7.5.2.3.1. Market size and forecast, by type
7.5.2.4. Rest of LAMEA
7.5.2.4.1. Market size and forecast, by type
7.5.3. LAMEA market size and forecast, by type
7.5.4. LAMEA market size and forecast, by material
7.5.5. LAMEA market size and forecast, by product design

CHAPTER 8: COMPANY PROFILES
8.1. BELCO MANUFACTURING CO. INC.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating product portfolio
8.2. Energy Transfer Partners, LP. (Sunoco Logistics Partners)
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. Synalloy Corporation
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments
8.4. Columbian TecTank, Inc.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Key strategic moves and developments
8.5. Containment Solutions, Inc.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Key strategic moves and developments
8.6. L. F. Manufacturing, Inc.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Key strategic moves and developments
8.7. Oiltanking GmbH
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Key strategic moves and developments
8.8. Poly Processing Company, Inc.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Key strategic moves and developments
8.9. Red Ewald Inc.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.10. ZCL Composites Inc.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
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According to a new report titled, Oil Storage Market by Type, Material, and Product Designlobal Opportunity Analysis and Industry Forecast, 2017-2023, the global oil storage market was valued at $3,180 million in 2016, and is estimated to reach at $4,307 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. In terms of volume, the market accounted for 257,307 thousand CBM in 2016, and is projected to reach 341,527 thousand CBM in 2023, registering a CAGR of 4.1% from 2017 to 2023.

Oil storage refers to the mechanism used for safely storing various petroleum products. These products are majorly oil-based products, which are produced by distillation and are used outside the refining industry. Growth in global oil production encouraged the suppliers to develop storage infrastructure and inventory for oil storage. Oil storage includes large tanks, sea tankers, and underground & above ground storage facilities. Petroleum products are valuable commodities, which are used for various applications. These can be stored in salt mines, oil tankers, and tanks. Further, increase in oil production has encouraged suppliers to improve their inventories and infrastructure to store large quantities of crude oil.

Initiatives such as strategic petroleum reserve for stockpiling large volumes of oil have enabled the government of the developed and the developing countries to protect the supply from price hike and stock out incident. However, decline in exploration & production activities and decrease in production investment are expected to hamper the market growth.

The crude oil segment dominated the market in 2016, and is expected to continue this trend during the forecast period. Crude oil is naturally occurring liquid form of petroleum, which is refined into other oil products such as petrol, paraffin, and diesel oil. It is stored in different type of storage tanks such as atmospheric storage tanks, open top tanks, and fixed roof storage tanks.

In 2016, carbon steel was the prominent material segment, which is a type of steel containing low concentration of carbon. It is used in designing oil storage tanks owing to its cost-effectiveness as compared to stainless steel. The floating roof segment dominated the global market in 2016, in terms of both value and volume. These types of tanks are ideal for storing petroleum products, particularly crude oil.

Key Findings of the Oil Storage Market

In 2016, LAMEA dominated the global market with half share in the overall market.
The naphtha segment is estimated to grow at the highest CAGR from 2017 to 2023.
The fiber reinforced polymer (FRP) segment is estimated to grow at the highest CAGR during the forecast period.
The crude oil segment led in in 2016, and accounted for more than half share in total market.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

In 2016, LAMEA dominated the global market, owing to the presence of large oil reserves and major export destinations such as Nigeria, Saudi Arabia, Iran, and UAE. In addition, introduction to newer refineries enables the rapid growth in demand for oil products. North America was the second leading segment and is expected to register a CAGR of 4.8% from 2017 to 2023.
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