Floating Covers Market Size, Share, CAGR & Forecast Report for 2027

Bargains in the overall floating covers market are booked to top US$ 1.01 Bn in 2022. Developing at a strong 4.8% CAGR, the market size is projected to amount to US$ 1.29 Bn by 2027.

Wastewater treatment and water safeguarding measures have extended the interest for a covering to protect water from the parts. Floating covers are utilized in tanks, lakes, and lagoons and are contained versatile geomembrane lining materials.

Floating covers market are an insightful decision for managing fragrance, limiting liquid setback owing to dispersal, avoiding green development improvement, and protecting liquids from polluting according to an outer viewpoint.

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Under the geomembrane, floating covers can have a lightness component that permits the cover to rise and fall because of the degree of bound fluid. Floating covers enjoy the benefit of permitting oxygenation of water however not dissipation, making them a fantastic choice of cover for different modern applications. With the worldwide consumption of water assets, the worldwide floating covers market is supposed to see a critical expansion popular during the conjecture time frame.

Floating Covers: Market Dynamics

The growth of the global floating covers market is attributed to their wide application and use across various domains. Floating covers are used widely across waste water treatment plants for odour control and also to dissuade wildlife from accessing the ponds.

Manufacturers of floating covers are eyeing increased applications and end uses for floating covers, such as algae and methane collection, oil and gas frac lagoons, water storage reservoirs, waste lagoons, and evaporation ponds. Gradually, manufacturers of floating covers are expected to have higher preference for durable and environment-friendly products, which require little to no maintenance.

Growth of the floating covers market is also driven by the need to protect water from evaporation and also to prevent the loss of water treatment chemicals such as chlorine etc. A key trend prevailing in the global floating covers market is the use of various plastic resins other than the traditional ones for enhanced mechanical performance of the floating covers.

A number of case shave been reported regarding the degradation of floating covers when exposed to chlorinated water. Hence, development of floating covers with materials that resist such chemical degradations is expected to bring in new opportunities of growth for the global floating covers market. It is anticipated that gradually, all manufacturers of floating covers will prefer products which do not become saturated or degrade in water, thus facilitating growth of the global floating covers market.

Floating Covers: Market Segmentation

The global floating covers market is segmented on the basis of liquid type, material type, application, and geography.

Floating Covers Market:

Regional Outlook On the basis of geography, the global floating covers market is segmented into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific floating covers market is expected to witness growth at the highest CAGR due to a large number of initiatives by the governmental as well as non-governmental organizations for the conservation as well as treatment of water.

North America is expected to follow the Asia Pacific market in terms of growth. The growth of the floating covers market is expected to be high in economies which have high bio gas production plants. Latin America and Middle East & Africa are expected to witness sluggish growth in the global floating covers market during the forecast period.

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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.

Floating Covers Market: Key players

Some of the key players operating in the global floating covers market are Industrial & Environmental Concepts, Inc., ETP, Inc., Advanced Water Treatment Technologies Inc., Solmax, GSE Environmental, BTL Liners, Albers Alligator, Aeramix, and Pooled Energy.

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

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