Press release
Shipping Container Coatings Market Growth Factors, Key Players and Forecast by 2018 to 2028
Shipping containers are being used widely due to the increase of import and export across the globe. Growing business relation and increasing trade among countries is helping the shipping container market to grow. The production of shipping container is growing due to the growing trades which in turn is leading to growth of shipping container coatings market. Use of shipping containers is increasing in coastal areas as sea transport is cost effective and convenient. The use of shipping containers in construction industry is helping the growth of shipping container coatings market. Constant research and development in water borne shipping container coatings has given rise to environment friendly shipping container coatings, which has boosted the shipping container market. Excess bulk production of shipping containers will lead to accumulation of containers due to more supply than demand, which will affect the future production. Reduction in production in future will affect the shipping container coating market. Fluctuating prices of steel affects the shipping container market which leads dent in shipping container coating market.
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Currently, shipping container production growth is sluggish on regions like North America and Europe. However reuse of used container in the construction industry is quite trending in these regions, making these regions potential market for shipping container coatings in the forecast period. China is currently the leading producer of shipping container and the market is growing rapidly, India and Vietnam are also considered as potential growth market for shipping containers. Growing production of shipping container in these regions is making a prominent market for shipping container coatings. Other regions such as MEA, Latin America, other SEA and APAC countries are developing which is expected to witness a prolonged growth during the forecast period.
Global key participants in the shipping container coatings market are: Dow Chemical Company, The Valspar Corporation, Delta Mark, Marl Coatings Ltd, Hexion, Mascoat, Mega Coatings Company Limited etc.
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