Oct 23, 2017   SOURCE: BusinessWire

Shipping Container Liners Market - Growing Number of Ultra-large Container Vessels Drives Growth | Technavio

Technavio’s latest market research report on the global shipping container liners market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the global shipping container liners market from 2017-2021. ...

Technavio has published a new report on the global shipping container liners market from 2017-2021. (Graphic: Business Wire)

Shipping container liners are packaging materials used for the bulk shipment of goods, materials, and commodities. Container liners eliminate direct surface contact between the container and the goods. Moreover, these container liners save the packaging cost because the goods or materials can be transported in bulk directly, instead of packaging them in smaller units.

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The top three emerging market trends driving the global shipping container liners market according to Technavio research analysts are:

  • Increase in demand for cold chain logistics from the pharmaceutical sector
  • Increased innovation in global container liners market
  • Growing number of ultra-large container vessels

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Increase in demand for cold chain logistics from the pharmaceutical sector

The pharmaceutical industry is one of the key users of cold chain logistics. In general, pharmaceutical companies use air freight and trucking transportation services for their transportation requirements. It is observed that less than 10% of the pharmaceutical volume is moved through ocean freight. Although air freight is the fastest way to transfer pharmaceutical products, it is quite expensive. Pharmaceutical companies are under pressure from governments to reduce prices and are also facing stiff competition from the generic medicines market. This is causing a decline in revenue, due to which many pharmaceutical companies cannot sustain the air freight transportation cost.

Hence, pharma companies are considering ocean freight transportation. In 2016, the US imports of refrigerated pharmaceutical goods increased by around 15% to 20% in terms of TEU compared with 2015.

“With the expected increase in the transport of pharmaceutical products by sea, there is an opportunity for vendors in the global shipping container liners market. The global shipping container liners market is also projected to grow with the increase in transport of temperature and climate-sensitive products,” says Shakti Jakhar, a lead analyst at Technavio for packaging research.

Increased innovation in global container liners market

A reefer is a refrigerated container used to transport perishables and other temperature-sensitive goods. Many companies have started transporting temperature-sensitive goods via ocean freight due to the increased volume of reefers by transportation companies. It is estimated that during the forecast period, the seaborne reefer cargo is expected to grow by 2% to 4% per annum in terms of volume. With this expected increase, it is estimated that the global shipping container liners market will grow in the future.

Moreover, companies are offering container liners made of different materials. For example, Protek Cargo, in the US, provides insulated cargo blankets developed using radiant barrier foil insulation techniques. It provides a SureTemp Prime Transoceanic Liner, which is a container liner made of aluminum foil. It is designed to provide protection against radiation, container rain, and cargo sweat. This increased innovation in the global shipping container liners market is expected to drive the growth of the market during the forecast period.

Growing number of ultra-large container vessels

It has been observed that in sea cargo transportation the number of ultra-large container vessels (ULCVs) is on the rise. These ULCVs have large capacities to store more containers. In March 2017, Mitsui O.S.K. Lines (MOL) took delivery of the world's largest container ship called MOL Triumph from Samsung Heavy Industries. This vessel has a capacity of 20,170 TEU. Samsung Heavy Industries is expected to deliver 10 or more such vessels in 2017.

“Shipping companies use ULCVs to achieve economies of scale and increase their profitability. These companies are experiencing declining profits because of competition. Hence, the need to achieve economies of scale by storing numerous containers. This leads to an increase in demand for shipping container liners as they can be used to offload the inventory at different ports,” says Shakti.

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