Polyester Silo Market Size, Share, Growth, And Industry Analysis, By Type (Below 1 Ton, 1-100 Tons and Above 100 Tons), By Application (Cereals, Forage and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Polyester Silo Market Report Overview

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The global polyester silo market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Glass fiber reinforced plastic (GRP) is used to create polyester or composite silos using a spray wrap method. Resin, glass fiber and polyester, are all used in GRP. The resin can tolerate chemical compounds, a variety of meteorological conditions, ultraviolet light, and rough seas once it has cured. More mechanical performance is provided by the glass fiber that was added during the resin solidification process. They are protected from outside effects by an outer top coating (often white or grey, but other colors are available upon request), and an internal gel coating acts as a chemical shield. The gel is acceptable for food preservation.

There are various reasons why the market for polyester silos is expanding. First off, there is a rising need for effective storage solutions across a range of sectors, including agricultural, food production, and chemical manufacture. Second, polyester has a lot of benefits, including portability, resilience, and ability to withstand moisture and rust. Finally, the creation of specialized and inventive silos that meet certain storage requirements is a result of technological improvements. Finally, the requirement for larger and more effective storage facilities is being driven by the expanding world population and rising consumer appetites for food as well as other products.

COVID-19 Impact: Interruptions in the Distribution Networks Caused Challenges to Businesses

Interruptions in the manufacturing and distribution of polyester silos were brought on by the pandemic's effect on international distribution networks. Customer costs had increased as a result, as had delivery periods, and some market segments had seen a decline in demand. In addition, the epidemic had decelerated development and infrastructure activities, which has had an impact on silos' need in the construction sector. It had been challenging for businesses to develop and make investments in fresh polyester projects as a result of the pandemic's volatility and unpredictability that had further impacted the market.

Latest Trends

"Use of Software and Sensors in the Silos to Increase Productivity and Provide Real-Time Tracking "

Using smart technology to increase the productivity and security of the handling and storage activities is one of the latest trends in the polyester silo industry. Smart polyester silos have software and sensors that provide real-time tracking of preservation parameters such as pressure, heat, and moisture. This makes it possible to take care of the silo in a timely manner and assists in avoiding spoilage and contamination of items that are stored.

Polyester Silo Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Below 1 Ton, 1-100 Tons and Above 100 Tons

• By Application Analysis

Based on application, the market can be divided into Cereals, Forage and Others

Driving Factors

"Growing Concentration on Reducing Transportation Rates Make Silos an Affordable Option"

For their businesses to remain successful in the marketplace, companies are seeking ways to lower transportation costs and boost supply chain effectiveness. Since they are compact, strong, and simple to move, polyester silos are an affordable option for businesses that need to move heavy loads of products across lengthy ranges. Polyesters may be reused numerous times and offer inexpensive upkeep, which lessens the necessity of frequent repairs and, in the long term, saves money for businesses.

"Increasing Demand for Bulk Material Handling Solutions in Various Industries is Driving the Market"

When large amounts of commodities need to be housed and moved, bulk warehouse management is a crucial activity in a variety of sectors, including beverages and food, farming, and construction. As they can hold and transfer enormous amounts of commodities without the requirement of several containers, silos offer a financially advantageous, secure, and practical means for managing bulk materials. Thus, these factors are growing the need and expanding the polyester silo market growth.

Restraining Factors

"Economic Uncertainties and Environmental Regulations are Factors Hindering the Market Expansion"

Demand and price swings brought on by economic uncertainties may have an impact on the polyester market. Trade disputes, currency swings, and political unrest are just a few illustrations of the variables that might affect the market's expansion and stability. Furthermore, due to their possible effects on the quality of the water and the air, silos may be bound by stringent environmental legislation. Manufacturers may find it expensive and time-consuming to comply with these rules, which may have an impact on the availability and cost of polyester silos.

Polyester Silo Market Regional Insights

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"Robust Manufacturing Sector and Effective Supply Chain System have Promoted the European Market"

The manufacturing of polyester as well as other synthetic fabrics utilized in the creation of silos is produced by several sizable chemical businesses in Europe, which has a robust manufacturing sector. European manufacturers are also renowned for their premium goods, cutting-edge technology, and original designs, which can offer them a competitive edge in the international market. Furthermore, Europe has a robust transportation network and effective supply chain systems, which can make it simpler for European businesses to ship their goods to clients all over the world. Also, by lowering lead times and freight costs, this may increase consumer interest in European polyesters. Ultimately, these reasons have helped Europe dominate the polyester silo market share.

Key Industry Players

"Key Players Focus on a Variety of Strategies to Gain a Competitive Advantage and Increase their Customer Base"

To grow their clientele and market share, major firms have expanded their businesses into new geographical locations. To enhance their production capabilities, cut costs, and expand their customer base, the participants may have partnered strategically with manufacturers, wholesalers, or other businesses in the distribution network. In order to enhance consumer interest in their goods and raise public awareness of its polyester silo, they have also made investments in advertising and promotional activities. In a bid to improve the efficiency, sustainability, and longevity of their polyesters as well as to maintain an edge over rivals in terms of technological advancement and innovation, rivals have also made research and development investments.

List of Market Players Profiled

• Siloba (Belgium)
• Technosilos (Italy)
• Erra (U.S.)
• Cabi-Caillol (France)
• Marumo Composite (France)
• Eurogan (Spain)
• Intech Srl (Italy)
• Spiromatic (Belgium)
• Powder Technic (Finland)

Report Coverage

This report covers the polyester silo market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.