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Global Shipping Container Coatings Market Expected to Secure Notable Revenue Share during 2018-2028 / Key Players Container Coatings Market Insight, Delta Mark, Marl Coatings Ltd, Hexion, Mascoat, Mega Coatings Company Limited
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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.
A shipping container is used to transport or store cargo that is imported or exported through ports via sea or road. Shipping container coating is used to protect the container, which is generally made of steel or aluminum, from corrosion. Shipping container coatings are generally classified under two types’ water borne and solvent borne. Solvent borne coatings emit VOC chemicals, which might be carcinogenic, leading to health hazards. To avoid such hazards, companies are focusing on investing in water borne coatings, which might reduce pollution by VOC emissions. Shipping container coating manufacturers are mainly focusing on developing more environment friendly coatings, especially with the trend of converting used containers into picnic houses, cafes and shops across the globe. Hence, the use of shipping container in construction sector requires shipping container coatings to increase its life and provide a new look. Earlier, harmful compounds like sulphur or phosphorous were used for coating the containers but development of water borne shipping container coating has put an end to the use of such harmful compounds.
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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.
Shipping Container Coating Market: Key Participants
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
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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