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Railcar Spill Containment Market Predictions Highpoint Enhanced Sales during Forecast Period, 2018-2027 | Key Players are Polystar Containment, Clean It Up, Enpac L.L.C., etc.
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Railcar spill containment systems are likely to witness robust demand in the foreseeable future, with an expected 2X increase in crude oil-by-rail shipments by 2020, according to International Energy Agency (IEA). Lack of pipeline capacity has provided an impetus to crude oil producers for seeking efficient transportation alternatives such as railcars, thereby fuelling adoption of railcar spill containment systems. The IEA estimates railcar shipments of crude oil barrels to be 310,000 units greater than those transported via pipelines in 2018. While ambiguities remain as risks of legal actions might delay upgrades in railcar design & development to meet standards of crude oil transport, capital discipline and industry consolidation will continue to play a vital role in sustaining the emphasis on crude-by-rail transport.
Resurgence in Petrochemical Investments by Oil Majors and NOCs
Petrochemical industry continue to play a vital role in the international industrial trends – natural gas liquids and crude oil remain key imperatives in the production of resins, plastics, and fibers. According to the IEA, investment in petrochemicals is expected to exceed US$ 20 billion in 2018, recording a rise of 15% over 2017. Attractive returns on petrochemical investments associated with higher availability of LPG and ethane from shale oil have sparked a proliferation in petrochemical production. As railcars are considered to be an essential transportation measure for crude oil, demand for railcar containment systems will remain robust in the foreseeable future.
Railroads Vital in Encouraging US Energy Independence
United States’ dependency on oil imports prevails as a longstanding debatable topic, owing to elevating gasoline and diesel costs over the past couple of years. This has further resulted in the ethanol production race in the region. The U.S. Energy Information Administration (EIA) states that the ethanol production in the US surpassed 1 million b/d in January 2017. Uptake in ethanol production along with proliferation in the ethanol production plants allude the fact that the US is set to achieve energy independence. As railroads play an indispensable role in efforts of the US to achieve energy independence by facilitating transportation of domestically-produced oil, demand for railcar spill containment systems will witness a significant rise in the region. Regulations to curb environmental pollution imposed by government authorities continue to influence adoption of railcars for crude oil. Stakeholders in the railcar spill containment market are mandated to follow some SPCC (Spill Prevention, Countermeasure and Control) regulations, such as the 40 CFR 112, for certifying their products as “ready-to-use” for crude oil transportation. For example, §112.7(h) requirements for railcars should be followed in case of loading & unloading racks during oil transport in double wall tanks. Additionally, new SPCC requirement for hazardous substances have been proposed by the Environmental Protection Agency, which in turn regulates use of railcars for crude oil transportation.
FactMR’s study offers holistic insights on demand & supply trends of the railcar spill containment systems worldwide, coupled with a detailed assessment on the competition landscape of the railcar spill containment market. The report also offers an exhaustive assessment on established and emerging players operating in the railcar spill containment market. Information on company overview, key financials, and recent developments of these railcar spill containment systems manufacturers has also been included in the report.
A taxonomy table included in the report offers a systematic representation of key segments identified in the railcar spill containment market. The railcar spill containment market has been categorically split into type, material, end-use industry, and region. Imperative numbers associated with the railcar spill containment market segments, such as CAGR, Y-o-Y growth, revenues, volume sales, and market share have been delivered in this report. A regional analysis on these segments of the railcar spill containment market has also been delivered in the report.
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