Increased manufacturing activity has resulted in increased product output, which is having a direct impact on the worldwide container liners market. Furthermore, container liners are reusable, implying that the worldwide container liner market would continue to grow in the coming years. Container liners ease the labour of cleaning and replacing containers, assisting in the prevention of spills.
Market Dynamics
Drivers
- Growing trade activities in North America
- The advantages of safety and reusability of container liners
Restraints
- The highly unstable international trade activities is restraining the growth of the container liner market
Opportunities
- Growth opportunity for container shipping industry
- Increasing innovation in packaging material and machinery
Growth opportunity for container shipping industry
Container liner industry is heavily dependent on the container shipping industry. So the growing trend of digitization of the whole shipping supply chain is expected to represent a new opportunity for the container shipping industry which may also positively affect the market of North America container liner market. Ship owners, container liners and port terminals are sharing data effectively through cloud internet and by tracking devices which is optimizing the whole supply chain, increasing the trust of businesses. This, in turn, is expected to create more opportunities for the container liner market to grow steadily in the future. According to industry insider insiders, there’s going to be more stress on the use of big data, software and data-driven operational capability, voyage optimization, and fleet utilization optimization solutions – for decreasing energy usage. Not only that is going to allow better operations for ship owners, but also will minimize greenhouse gas emissions and encourage more trade activities, indirectly strengthening the North America container liner market.
Region Analysis
United States
The United States (U.S.) is the largest country in terms of the container liner market in North America, estimated to account for a share of XX% in total dollar sales in 2019. Increasing international trade activities and dependence on Asian countries on specific chemical and food products are some of the major driving forces that are propelling the growth of the U.S. container liner market. U.S. market valued USD XX million in 2019 and is estimated to reach USD XX million by 2027, growing at a CAGR of XX% during the forecast period. The Container shipping industry is the main end-user of container liners in the U.S., as the country is second active in terms of international trade. For instance, according to the database of the World Shipping Council, U.S. is the second top exporter of containerized cargo and had exported about 11.9 million TEUs (twenty-foot equivalent unit) worth of cargo in 2014. Also, the country is the top importer in 2014 with 19.6 million TEUs worth of cargo imported in the same year. Also according to the recent statistics provided by the CIA ( Central Intelligence Agency), U.S. is the second-largest country in terms of export and had exported USD 2377.156 billion worth of goods in 2019. The intense trade activity also increases the demand for container liners in U.S. in order to safeguard the cargo at the time of shipping, strengthening the market growth of container liners. Container shipping is a highly volatile market. It depends on the global trade environment, the demand for products in foreign countries, various country-level policies and international price fluctuation, which also makes the container liner market somewhat volatile.