LNG Storage Tank Market Global Forecast to 2027 | CIMC ENRIC
LNG Storage Tanks Market By Type (Self-Supporting, Non-Self-Supporting), Material (Steel, 9% Nickel Steel, Aluminum Alloy), Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global to 2027 predict The LNG storage tank market is expected to reach USD 20.8 billion by 2027, growing at a CAGR of 7.5%. Liquefied natural gas (LNG) storage tanks are special storage tanks used to store liquefied natural gas. These tanks are often located underground, above ground, and in LNG carriers or vehicles. They are available in various configurations such as horizontal, vertical, double walled and insulated. LNG storage tanks are insulated to reduce evaporation, prevent heat transfer and protect the structure from low temperatures. 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