Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Installation Type (Aboveground, Underground), By End-Users (Oil and gas, Industrial, Municipal and Others), By Applications (Fuel, Water and Wastewater, Fire Protection, Industrial, Food and Beverage, Paper and Pulp, Others), By Size (Below 5,000 Gallons, 5,000 to 25,000 Gallons, Over 25,000 Gallons), By Pressure Type (Pressure, Non- Pressure ), By Build Type (Custom Fabricated at the Factory, Custom Fabricated and Field Erected) And Competitive Landscape
Product Code: ETC057144 | Publication Date: May 2021 | Updated Date: Dec 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Asia Pacific Metal Tank Market |
Forecast period | 2024-2030 |
Forecast size | USD 8.7 billion by 2031 |
CAGR | 6.2% |
Growing Sector | Industrial Applications |
The Asia Pacific Metal Tank Market report thoroughly covers the market by countries, installation type, end-users, applications, size, pressure type, and build type. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific Metal Tank Market was valued at USD 5.4 billion in 2025 and is projected to reach USD 8.7 billion by 2031, growing at a CAGR of 6.2% during the forecast period. The rising demand for metal tanks in sectors such as oil and gas, industrial, and municipal applications is driving the market. Additionally, advancements in manufacturing technologies and growing investments in infrastructure development across emerging economies are expected to boost market growth.
The Asia Pacific Metal Tank Market is witnessing robust growth due to increasing industrialization, urbanization, and rising demand for efficient storage solutions. Metal tanks, widely used for storing liquids such as fuel, water, and chemicals, are gaining traction due to their durability and ability to withstand extreme conditions. With the rapid expansion of industries in countries like China, India, and Japan, the need for reliable storage solutions has escalated. Furthermore, government initiatives focusing on improving water management and waste disposal systems in urban areas are contributing to the market’s expansion.
According to 6Wresearch, the Asia Pacific Metal Tank Market is anticipated to grow at a CAGR of 6.2% during the forecast period 2025-2031. The Asia Pacific Metal Tank Market is driven by rapid industrialization and urbanization across the region. Countries such as China and India are witnessing exponential growth in manufacturing activities, leading to a surge in the demand for industrial storage tanks. Furthermore, the expanding oil and gas sector is creating a significant demand for tanks capable of storing fuel and other petroleum products efficiently. With increasing government investments in water and wastewater management, the municipal sector is also emerging as a key driver for the market. This trend is reflected in the Asia Pacific Metal Tank Market Growth.
However, the market faces challenges related to fluctuating raw material prices, which directly impact manufacturing costs. Steel and other metals used in tank fabrication are subject to global price volatility, posing challenges for manufacturers to maintain competitive pricing. Additionally, stringent regulations on environmental safety and tank manufacturing standards create entry barriers for new players in the market. Another challenge lies in the growing competition from alternative storage solutions such as polymer tanks, which offer cost advantages and corrosion resistance. While metal tanks provide durability and strength, the higher initial costs associated with their installation may deter price-sensitive customers in certain applications.
The Asia Pacific Metal Tank Market is experiencing significant trends driven by technological advancements and evolving consumer demands. Manufacturers are increasingly adopting advanced coatings and materials to enhance tank durability and resistance to corrosion, which extends the lifespan of storage solutions. These innovations are particularly relevant in harsh industrial environments and coastal areas prone to saline conditions. Digitalization is another trend reshaping the market, with smart tanks equipped with IoT-based monitoring systems gaining popularity. These systems allow users to track tank levels, temperature, and pressure in real-time, improving operational efficiency and safety. Such advancements are particularly beneficial in sectors like oil and gas, where precision and reliability are critical.
The market offers lucrative investment opportunities, especially in emerging economies such as India, Indonesia, and the Philippines. Rapid urbanization and industrialization in these regions are creating a high demand for reliable storage solutions across sectors. Investing in localized manufacturing facilities can help reduce costs and meet the growing regional demand effectively. Sustainable and environmentally friendly tank manufacturing is another promising area for investment. Companies focusing on eco-friendly materials and processes, such as recycled steel and low-energy fabrication techniques, are well-positioned to capture market share.
Additionally, expanding into the smart tank segment by integrating IoT technology offers growth potential in sectors requiring precision and automation.
Prominent players in the Asia Pacific Metal Tank Market include CST Industries, PermianLide, Tata Steel, McDermott International, and Zamil Steel. These companies focus on delivering durable, high-quality tanks for various applications such as oil and gas, water storage, and industrial use. Their strategies include investing in R&D, expanding manufacturing capacities, and offering customizable solutions to cater to diverse customer needs.
Government regulations play a pivotal role in shaping the Asia Pacific Metal Tank Market. Several countries have introduced stringent standards to ensure the safety and environmental compliance of storage tanks. In China, regulations mandate double-walled tanks for hazardous materials to minimize leakage risks, driving the adoption of advanced designs. India’s emphasis on water conservation and waste management has led to policies encouraging the use of durable, large-capacity tanks in municipal projects.
Similarly, environmental agencies in Australia enforce strict guidelines on tank installations, especially in the oil and gas sector, to prevent soil and groundwater contamination. Despite these regulations, manufacturers face challenges in meeting diverse regional standards. Each country’s unique requirements demand customized solutions, adding complexity to production and compliance processes. Adhering to these regulations not only ensures safety but also enhances product credibility and market acceptance.
The future of the Asia Pacific Metal Tank Market looks promising, with advancements in technology and growing investments in infrastructure projects driving demand. The increasing adoption of smart tank technology, integrating sensors and IoT systems, is set to revolutionize the industry. These solutions will cater to industries requiring real-time monitoring and automation, enhancing operational efficiency. Sustainability will remain a key focus for manufacturers, with a shift toward eco-friendly materials and processes.
Governments’ push for greener practices will encourage the development of tanks made from recycled materials and the adoption of energy-efficient manufacturing technologies. The market’s expansion into untapped regions, coupled with rising urbanization, will create ample opportunities for growth. Manufacturers prioritizing innovation and localized production will be well-positioned to capture emerging demand and drive the Asia Pacific Metal Tank Market forward.
The report offers a comprehensive study of the following market segments and their leading categories:
According to Ashutosh, Senior Research Analyst, 6Wresearch, Aboveground tanks are expected to dominate the Asia Pacific Metal Tank Market, with projected revenues of USD 5.1 billion by 2031. Their ease of installation, lower setup costs, and simplified maintenance make them a preferred choice for industries like oil and gas, water storage, and municipal applications. Aboveground tanks also allow easier monitoring for potential leaks or damage, contributing to their widespread adoption.
The industrial sector is forecasted to hold the largest market share, reaching USD 3.6 billion by 2031. The increasing demand for storage solutions in manufacturing, power generation, and chemical processing is a key driver. Industries require durable and large-capacity tanks, making metal tanks essential for various operational needs.
Fuel storage tanks are projected to dominate the applications segment, with revenues reaching USD 3.2 billion by 2031. The expansion of the oil and gas sector, along with increasing fuel demand for industrial and transportation purposes, drives this segment. Their robust construction and ability to store large volumes make metal tanks indispensable for fuel storage.
China and India are anticipated to account for over 50% of the total market share by 2031, with China projected to generate USD 2.5 billion and India USD 1.8 billion in revenues. Factors such as rapid industrialization, urbanization, and growing investments in infrastructure and energy sectors contribute to the dominance of these two countries in the market.
The market report thoroughly covers the following segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Metal Tank Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Metal Tank Market Revenues & Volume, 2020 & 2030F |
3.3 Asia Pacific Metal Tank Market - Industry Life Cycle |
3.4 Asia Pacific Metal Tank Market - Porter's Five Forces |
3.5 Asia Pacific Metal Tank Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Asia Pacific Metal Tank Market Revenues & Volume Share, By Installation Type, 2020 & 2030F |
3.7 Asia Pacific Metal Tank Market Revenues & Volume Share, By End-Users, 2020 & 2030F |
3.8 Asia Pacific Metal Tank Market Revenues & Volume Share, By Applications, 2020 & 2030F |
3.9 Asia Pacific Metal Tank Market Revenues & Volume Share, By Size, 2020 & 2030F |
3.10 Asia Pacific Metal Tank Market Revenues & Volume Share, By Pressure Type, 2020 & 2030F |
3.11 Asia Pacific Metal Tank Market Revenues & Volume Share, By Build Type, 2020 & 2030F |
4 Asia Pacific Metal Tank Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Metal Tank Market Trends |
6 Asia Pacific Metal Tank Market, 2020 - 2030 |
6.1 Asia Pacific Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
6.2 Asia Pacific Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
6.3 Asia Pacific Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
6.4 Asia Pacific Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
6.5 Asia Pacific Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
6.6 Asia Pacific Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
7 China Metal Tank Market, 2020 - 2030 |
7.1 China Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
7.2 China Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
7.3 China Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
7.4 China Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
7.5 China Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
7.6 China Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
8 India Metal Tank Market, 2020 - 2030 |
8.1 India Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
8.2 India Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
8.3 India Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
8.4 India Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
8.5 India Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
8.6 India Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
9 Japan Metal Tank Market, 2020 - 2030 |
9.1 Japan Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
9.2 Japan Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
9.3 Japan Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
9.4 Japan Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
9.5 Japan Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
9.6 Japan Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
10 Australia Metal Tank Market, 2020 - 2030 |
10.1 Australia Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
10.2 Australia Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
10.3 Australia Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
10.4 Australia Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
10.5 Australia Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
10.6 Australia Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
11 Indonesia Metal Tank Market, 2020 - 2030 |
11.1 Indonesia Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
11.2 Indonesia Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
11.3 Indonesia Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
11.4 Indonesia Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
11.5 Indonesia Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
11.6 Indonesia Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
12 Philippines Metal Tank Market, 2020 - 2030 |
12.1 Philippines Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
12.2 Philippines Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
12.3 Philippines Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
12.4 Philippines Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
12.5 Philippines Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
12.6 Philippines Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
13 Thailand Metal Tank Market, 2020 - 2030 |
13.1 Thailand Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
13.2 Thailand Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
13.3 Thailand Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
13.4 Thailand Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
13.5 Thailand Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
13.6 Thailand Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
14 Malaysia Metal Tank Market, 2020 - 2030 |
14.1 Malaysia Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
14.2 Malaysia Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
14.3 Malaysia Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
14.4 Malaysia Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
14.5 Malaysia Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
14.6 Malaysia Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
15 Singapore Metal Tank Market, 2020 - 2030 |
15.1 Singapore Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
15.2 Singapore Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
15.3 Singapore Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
15.4 Singapore Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
15.5 Singapore Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
15.6 Singapore Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
16 Rest of Asia Metal Tank Market, 2020 - 2030 |
16.1 Rest of Asia Metal Tank Market, Revenues & Volume, By Installation Type, 2020 - 2030 |
16.2 Rest of Asia Metal Tank Market, Revenues & Volume, By End-Users, 2020 - 2030 |
16.3 Rest of Asia Metal Tank Market, Revenues & Volume, By Applications, 2020 - 2030 |
16.4 Rest of Asia Metal Tank Market, Revenues & Volume, By Size, 2020 - 2030 |
16.5 Rest of Asia Metal Tank Market, Revenues & Volume, By Pressure Type, 2020 - 2030 |
16.6 Rest of Asia Metal Tank Market, Revenues & Volume, By Build Type, 2020 - 2030 |
17 Asia Pacific Metal Tank Market Key Performance Indicators |
18 Asia Pacific Metal Tank Market - Opportunity Assessment |
18.1 Asia Pacific Metal Tank Market Opportunity Assessment, By Countries, 2020 & 2030F |
18.2 Asia Pacific Metal Tank Market Opportunity Assessment, By Installation Type, 2020 & 2030F |
18.3 Asia Pacific Metal Tank Market Opportunity Assessment, By End-Users, 2020 & 2030F |
18.4 Asia Pacific Metal Tank Market Opportunity Assessment, By Applications, 2020 & 2030F |
18.5 Asia Pacific Metal Tank Market Opportunity Assessment, By Size, 2020 & 2030F |
18.6 Asia Pacific Metal Tank Market Opportunity Assessment, By Pressure Type, 2020 & 2030F |
18.7 Asia Pacific Metal Tank Market Opportunity Assessment, By Build Type, 2020 & 2030F |
19 Asia Pacific Metal Tank Market - Competitive Landscape |
19.1 Asia Pacific Metal Tank Market Revenue Share, By Companies, 2023 |
19.2 Asia Pacific Metal Tank Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |