April 21, 2024
Industrial Tank Cleaning Market

Industrial Tank Cleaning Market Driven By Stringent Regulations Regarding Hygiene And Cleanliness Standards

Industrial tanks are extensively used across diverse industries such as oil & gas, chemical, food & beverage, and pharmaceutical for storing raw materials, products, liquid waste and by-products. Regular cleaning and maintenance of industrial storage tanks is crucial to ensure product quality, safety and maximize storage life span. The contents stored inside tanks may often leave residues or contaminants over time that can impact product specifications if not removed. Stringent quality regulations imposed by regulatory bodies like FDA regarding hygiene and cleanliness standards have compelled industries to outsource industrial tank cleaning services to specialized cleaning solution providers on a regular basis.

Industrial tank cleaning involves a systematic process of removing any residual or trapped particles, contaminants, scales and sediments from tanks through mechanical, chemical or manual cleaning methods. Different technologies used include steam cleaning, CIP (clean-in-place), COP (clean-out-of-place) among others depending on tank design and content. Steam cleaning uses high temperature steam for quick sanitization while CIP is a multi-step automated process using alkaline or acid-based detergents for thorough removal of stubborn residues. Tank cleaning not only ensures tanks are properly sanitized for alternate product storage but also helps avoid costly product losses, recalls and penalties.

The global Industrial Tank Cleaning Market is estimated to be valued at US$ 1.32 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends gaining traction in the Global Industrial Tank Cleaning Market Size is the growing adoption of automated cleaning systems. Traditional manual cleaning methods are slowly being replaced by advanced CIP systems integrated with PLC, tanks gauges and sensors for monitoring cleaning cycles remotely. Automated systems ensure greater consistency and control in cleaning processes while reducing manpower requirements. Another major trend is the rising demand for tank cleaning services from end-use industries like oil & gas and petrochemicals. With increasing shale gas and oil exploration activities, the need for frequent cleaning and maintenance of storage tanks in refineries and gas processing plants is on the rise. This is positively impacting the demand for industrial tank cleaning, especially in regions with extensive oil & gas operations like North America and Middle East.

Porter’s Analysis

Threat of new entrants: The industrial tank cleaning market requires high capital investments and existing companies have well established supply chains and brand recognition which creates barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of several service providers for industrial tank cleaning. However, stringent regulations related to adhering to quality and hygiene standards limits switching costs.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to the specialized equipment and skilled labor required for industrial tank cleaning services.
Threat of new substitutes: There are limited product substitutes for industrial tank cleaning as it is an essential service required to maintain hygiene, quality and safety standards in various industries.
Competitive rivalry: The market has the presence of a few large players and several small service providers creating high competitive rivalry based on service offerings, pricing and quality of services.

Key Takeaways

The global Industrial Tank Cleaning market is expected to witness high growth. The global Industrial Tank Cleaning Market is estimated to be valued at US$ 1.32 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.

Regional analysis: North America is expected to dominate the global industrial tank cleaning market owing to stringent regulations regarding hygiene and safety. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by rapid industrialization and growth of end use industries in countries like China and India.

Key players operating in the Industrial Tank Cleaning market are Yeswin Machinery Co. Ltd., Asahi Sunac Corporation, Yeswin. Yeswin Machinery Co. Ltd. specializes in providing cleaning solutions while Asahi Sunac Corporation offers wide range of services. Yeswin focuses on developing innovative technologies to provide effective cleaning solutions to customers.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it