Bulk liquid storage is important for the economies of all countries. Large companies and organisations use storage facilities to safely store liquids such as chemicals, fuel and foodstuffs. Stored liquids all play a significant role in the imports and exports of goods worldwide.
Over the next four years, the global liquids storage capacity is expected to rise to 8.274 million barrels, at a growth of rate of 6.1% for the period 2019-2023. Five new liquid storage terminals have been announced, and one liquid storage project has been stalled. As well as this, one liquid storage terminal has been completely cancelled.
Global liquids storage set to rise in 2023
Asia, North America and the Middle East are projected to be the three main global regions of growth in liquid storage capacity. China, in particular, will see substantial growth, followed by the US and the UAE. At present, the Zhanjiang IV terminal in China is the global leader for liquid storage capacity among the announced projects in the next few years. It has a capacity of 44mmbbl and will be a huge driver for Chinese liquid storage.
Key highlights of the report include:
- Historical liquid storage data for the period 2013-2018, and the outlook to 2023
- Annual breakdown of expenditure on planned and announced liquid storage projects
- Outlook for new-build capital expenditure by country and region
- Details of planned projects to 2023
The report H2 2019 Global Capacity and Capital Expenditure Outlook for Liquids Storage – China Underpins Global Liquids Storage Capacity Growth provides the most recent information on the liquid storage market and related projects. Data and analysis facilitate the decision-making process on the basis of market outlook and key trends. Readers will be able to assess competitors and use vital information to identify market growth segments and opportunities.
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