Railcar coating is a protection layer applied on tank cars, boxcars, hoppers, and other transportation vehicles to protect the surface from moisture, corrosion, microbes, and other external factors. Railcars need to be protected from various external factors, as these carry flammable and other hazardous chemicals and substances. Therefore, vehicles are being coated with railcar coatings. Railcar coatings protect the surface of railcars from corrosion, moisture, and microbes. They helps in maintaining the vehicle. Railcars are large vehicles and require significant investment. Thus, it is necessary to maintain railcars.
Based upon coating demand by railcar type, the market can be segmented into tanks car, open hoppers, covered hoppers, boxcars, and others. The tanks car segment accounted for the major share of almost 35% of the market in 2016. Tank cars are used to transport liquid and gaseous commodities. The vehicle is not owned by the railroad, instead is leased by private owners who use them to transport their products. Tank cars are primarily used in North America and Europe. According to the American Association of Railroads, currently, more than 380,000 railroad tank cars are in service. Railcars are likely to wear and tear due to their extensive usage. Weather changes also affect the surface of the railcars leading to deterioration of the product type. Railcars should be protected and taken care of just as vehicle carries highly flammable liquid and other products that can be dangerous to life. The product surface is coated with railcar coatings in order to protect the surface from external climate and wear & tear. Coatings applied to the walls of various railcars are chemically inert and are certified by the Food and Drug Administration (FDA) and National Science Foundation (NSF). Covered hoppers held the next key share of the market followed by open hoppers. Boxcars accounted for low share of the railcar coatings market. Demand and usage of boxcars are observed to be decreasing in certain region as tank cars and covered hoppers are seen to replace boxcars, due to which the maintenance of boxcars are observed to be decreasing. Therefore, the boxcar segment accounts for low share of the railcar coatings market.
North America held prominent share of the railcar coatings market in 2016. These kinds of vehicles are majorly observed to be operating in North America and Europe region. Demand for railcar coatings is high in these regions, as these vehicles are commonly used for transportation of liquid fuels and other hazardous products in North America and Europe. Demand for covered hoppers is higher than that of tank cars in North America. Europe constituted the next key share of the market in 2016. Germany had a total of 15,492 locomotives and railcars in 2011. The railcar coatings market in Asia Pacific is anticipated to expand significantly in the near future. Growth in industrialization in Asia Pacific is driving the market in the region. This is supported by stable economic conditions, which result in high disposable incomes. Middle East & Africa and Latin America held the least share of the railcar coatings market in 2016. The share of the region is projected to increase in the near future.
Key players operating in the railcar coatings market include PPG Industries, AkzoNobel N.V., Hempel USA, The Sherwin-Williams Company, The Valspar Corporation, and Axalta Coating Systems.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.