Asia Pacific Tank Protection Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Asia Pacific Tank Protection Market is Segmented by Oil and gas sector (Upstream, Midstream, and Downstream), Application (New Project (New Orders), and Existing Project (Replacement Orders) ), Equipment (Valves, Vents, and Flame arrestors) and Region (India, China, Japan, Australia, South Korea and the Rest of Asia Pacific). The report offers the market size and forecasts for Tank protection in revenue (USD Million) for all the above segments.

Asia Pacific Tank Protection Market Size

Compare market size and growth of Asia Pacific Tank Protection Market with other markets in Energy & Power Industry

Asia Pacific Tank Protection Market Analysis

The Asia Pacific Tank Protection Market is expected to register a CAGR of 3.2% during the forecast period.

  • Increasing investment in the downstream sector and rising offshore Oil exploration activities are major factors expected to drive the market's growth.
  • On the other hand, Volatile raw material prices and the rising adoption of cleaner alternatives are the major restraints for the market.
  • Nevertheless, the growing demand for automation in the control process is expected to create an excellent opportunity for the market players in the forecast period, as these projects are paving the way for the line pipe industry to grow more.
  • China fastest growing region in the Tank protection market and is also likely to witness the highest CAGR during the forecast period.

China fastest growing region in the Tank protection market

  • In March 2022, China Petroleum & Chemical Corp announced it to spend CNY 198 billion in 2022, more than 18% from 2020, which was higher than that of the 2013 investment record of CNY 181.7 billion. Out of this, the company plans to invest CNY 81.5 billion in upstream exploitation. This will lead to increase investment in the oil and gas sector.
  • In 2021, China will be one of the major countries in the world, which will lead to growth in LNG demand. In 2020, about 12 million tons of LNG were imported; in 2021, there were 79 million tons. Due to this surge in demand, China surpassed Japan to take the top spot among LNG importers worldwide. Demand has increased due to Chinese LNG buyers signing long-term contracts for more than 20 million tons annually.
  • Additionally, in 2021, China's refinery capacity reached an all-time high of 16.69 Mb/d. As the oil demand growth shifted from fuel-driven to petrochemical feedstock-driven, the country is transforming and upgrading the refinery industry.
  • In January 2022, CNOOC announced net production estimated targets for 2023 are 640 million to 650 million barrels and for 2024 is 680 million to 690 million barrels of oil.
  • Hence, with the expansion of the refinery and petrochemical business and the upcoming project, the country is expected to witness an increase in the demand for tank protection markets.

Asia Pacific Tank Protection Industry Overview

The Asia Pacific Tank protection market is fragmented. Some of the key players in this market (in no particular order) include Emerson Electric Co., L&J Technologies Inc., Zhejiang Zhenchao Petroleum And Chemical Equipment Co., Ltd, Oil Conservation Engineering Company (OCECO), and KMC Oil and Gas Equipment.

Asia Pacific Tank Protection Market Leaders

  1. Emerson Electric Co

  2. L&J Technologies Inc

  3. Zhejiang Zhenchao Petroleum And Chemical Equipment Co., Ltd

  4. Oil Conservation Engineering Company (OCECO),

  5. *Disclaimer: Major Players sorted in no particular order
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Asia Pacific Tank Protection Market News

  • In February 2022, the Ministry of Petroleum and Natural Gas India announced that the country is expected to double its area under exploration and production of oil and gas to 0.5 million square kilometers by 2025 and 1 million square kilometers by 2030, to reduce dependence on imports and increase domestic output.
  • In November 2021, ExxonMobil announced that the company had made a final investment decision to proceed with a multi-billion dollar chemical complex in the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province in China. The project is expected to become operational by the end of 2024.

Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Increasing investment in the downstream sector
    • 4.5.1.2 Rising offshore Oil exploration activities
    • 4.5.2 Restraints
    • 4.5.2.1 Rising adoption of cleaner alternatives
    • 4.5.3 Oppurtunities
    • 4.5.3.1 Growing demand for automation in the control process
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Force Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Oil & Gas - Sector
    • 5.1.1 Upstream
    • 5.1.2 Downstream
    • 5.1.3 Midstream
  • 5.2 Application
    • 5.2.1 New Project (New Orders)
    • 5.2.2 Existing Project (Replacement Orders)
  • 5.3 Equipment
    • 5.3.1 Valves
    • 5.3.2 Vents
    • 5.3.3 Flame Arrestors
  • 5.4 Geography
    • 5.4.1 India
    • 5.4.2 China
    • 5.4.3 Japan
    • 5.4.4 Australia
    • 5.4.5 South Korea
    • 5.4.6 Rest of Asia Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 Korean Steel Power Corp.
    • 6.3.2 Emerson Electric Co.
    • 6.3.3 Zhejiang Zhenchao Petroleum And Chemical Equipment Co., Ltd
    • 6.3.4 Valcrom Global DWC LLC
    • 6.3.5 Motherwell Tank Protection
    • 6.3.6 NEOTECH Co.,Ltd.
    • 6.3.7 Oil Conservation Engineering Company (OCECO)
    • 6.3.8 KMC Oil and Gas Equipment
    • 6.3.9 L&J Technologies Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Asia Pacific Tank Protection Industry Segmentation

Oil storage provides containment to petroleum products and other oils in large, specialized containers for long periods. These containers, or tanks, help to facilitate the safe, efficient, and reliable storage of crude oil and other petrochemical products. Storage tank protection is needed to avoid dangerous situations and spare the environment. The tank protection equipment is designed to protect the climate and public health by ensuring that tank oil meets specific safety standards. These equipment are used to prevent spills and leaks that can cause harm to people or the environment.

The tank protection market is segmented by oil and gas sector, application, equipment, and region. By oil and gas sector, the market is segmented into upstream, midstream, and downstream. The market is segmented by application into new projects (new orders) and existing projects (replacement orders). By equipment, the market is segmented into valves, vents, and flame arrestors. The report also covers the market size and forecasts for the Tank protection market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Oil & Gas - Sector Upstream
Downstream
Midstream
Application New Project (New Orders)
Existing Project (Replacement Orders)
Equipment Valves
Vents
Flame Arrestors
Geography India
China
Japan
Australia
South Korea
Rest of Asia Pacific
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Frequently Asked Questions

What is the current Asia Pacific Tank Protection Market size?

The Asia Pacific Tank Protection Market is projected to register a CAGR of 3.2% during the forecast period (2025-2030)

Who are the key players in Asia Pacific Tank Protection Market?

Emerson Electric Co, L&J Technologies Inc, Zhejiang Zhenchao Petroleum And Chemical Equipment Co., Ltd and Oil Conservation Engineering Company (OCECO), are the major companies operating in the Asia Pacific Tank Protection Market.

What years does this Asia Pacific Tank Protection Market cover?

The report covers the Asia Pacific Tank Protection Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia Pacific Tank Protection Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

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Asia Pacific Tank Protection Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)