LNG Storage Tank Market Global Forecast to 2027 | CIMC ENRIC
LNG Storage Tank Market by Type(Self-supported, Non-self-supported), Material(steel, 9% nickel steel, aluminum alloy), Geography(North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2027 The LNG storage tank market is expected to reach USD 20.8 billion by 2027, growing at a CAGR of 7.5% over the forecast period. Liquefied natural gas (LNG) storage tanks are specialized storage tanks used to store liquefied natural gas. These tanks are often located underground, above ground, and in LNG tankers or vehicles. They are available in various configurations such as horizontal, vertical, double walled and insulated. LNG tanks are insulated to reduce evaporation, prevent heat transfer and protect the structure. Rising number of floating storage and regasification units drives demand for LNG storage tanks Floating storage and regasification units are key components of the LNG value chain, forming the interface between LNG carriers and local gas ...