Waste water treatment and water conservation measures have increased the demand for a covering to protect water from the elements. Floating covers are utilised in tanks, ponds, and lagoons and are comprised of flexible geomembrane lining materials. Floating covers market are a cost-effective option for managing odour, limiting liquid loss owing to evaporation, avoiding algae growth, and protecting liquids from contamination from the outside.
Underneath the geomembrane, floating coverings can have a buoyancy mechanism that allows the cover to rise and fall in response to the level of confined liquid. Floating covers have the advantage of allowing oxygenation of water but not evaporation, making them an excellent option of cover for a variety of industrial applications. With the global depletion of water resources, the global floating covers market is expected to see a significant increase in demand during the forecast period.
The global floating covers market is expected to reach $1.01 billion in 2022. The market is expected to reach US$ 1.29 billion by 2027, growing at a robust 4.8 percent CAGR.
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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.
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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)
- Mining Storage Ponds
- Agriculture (Slurry, Lagoons)
- Waste Water/Liquid Treatment
- Food Processing & Brewing
- Chemical Treatment
- Utilities & Other
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific excluding Japan
- Middle East and Africa
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: 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.