NEW YORK, July 4, 2024 /PRNewswire/ — The global spill containment decks market size is estimated to grow by USD 63.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.87% during the forecast period. Growth of global warehousing and storage market is driving market growth, with a trend towards growth in SKU (stock-keeping units) proliferation driving demand for spill containment decks. However, volatility in raw material prices poses a challenge. Key market players include Atlantic Maritime Services Pvt. Ltd., Brady Corp., Complete Environmental Products Inc., DENIOS INC., ENPAC, EnSafeCo LLC, EnviroGuard, Ergen Plastic Industries, Justrite Mfg. Co. LLC, New Pig Corp., Protective Industrial Products Inc., Qingdao CNplast Co. Ltd., Rollawaycontainer.com srl, Sellars Absorbent Materials Inc., Shanghai SYSBEL Industry and Technology Co. Ltd., SixAxis LLC, SSI Environmental, Swift Technoplast Pvt. Ltd., UltraTech International Inc., and United States Plastic Corp..
Technavio has announced its latest market research report titled Global spill containment decks market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Product (Plastic spill containment decks and Steel spill containment decks) and Geography (North America, APAC, Europe, South America, and Middle East and Africa) |
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Region Covered |
North America, APAC, Europe, South America, and Middle East and Africa |
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Key companies profiled |
Atlantic Maritime Services Pvt. Ltd., Brady Corp., Complete Environmental Products Inc., DENIOS INC., ENPAC, EnSafeCo LLC, EnviroGuard, Ergen Plastic Industries, Justrite Mfg. Co. LLC, New Pig Corp., Protective Industrial Products Inc., Qingdao CNplast Co. Ltd., Rollawaycontainer.com srl, Sellars Absorbent Materials Inc., Shanghai SYSBEL Industry and Technology Co. Ltd., SixAxis LLC, SSI Environmental, Swift Technoplast Pvt. Ltd., UltraTech International Inc., and United States Plastic Corp. |
Key Market Trends Fueling Growth
The surge in demand for a wide range of chemicals and liquid materials across various industries has led to an increase in new stock-keeping units (SKUs). To cater to these diverse requirements, vendors provide customized spill containment decks with varying sizes and shapes. The unique features of these decks are determined by the physical and chemical properties of the stored products. The availability of customized spill containment decks addresses the specific needs of end-users, boosting sales for vendors. However, this proliferation of SKUs poses challenges for companies’ supply chains. To mitigate these complexities, there is a growing need for spill containment decks in different shapes and sizes. This trend is expected to fuel the market’s growth as the demand for more packaging solutions continues to rise.
In the post-pandemic period, governments worldwide are focusing on infrastructure and power projects, including spill containment decks for fuels, chemicals, and hazardous liquids. Funds are being allocated for the manufacture and delivery of technologically advanced spill containment systems, such as secondary containment decks. The machinery industry is experiencing technological advancements with the use of piling machines for underwater pilings to install wind turbines. Economic restructuring due to travel restrictions, lockdowns, and business closures has not affected the global sales margins of spill containment technology, as demand remains high. In the medical field, genetic testing markets for pigmented lesions, skin regeneration, and skin toning continue to grow, with treatment outcomes and patient satisfaction driving market trends. Damage control measures for obesity pandemic and global health concerns are also driving the need for advanced spill containment technology. Lasers are being used in technologically advanced places for various applications, further boosting the market. Global supply systems are adapting to the challenges of the new normal, ensuring uninterrupted delivery schedules.
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Market Challenges
The global spill containment decks market relies on raw materials such as plastics and steel for manufacturing. Raw material costs significantly impact the final product price. Fluctuations in crude oil prices, which influence polymer and steel prices, pose challenges for vendors. For instance, rising crude oil prices in 2021 increased polymer prices, affecting the profitability of spill containment deck providers. Steel, with its high durability, tensile strength, and toughness, is suitable for manufacturing steel spill containment decks. Steel’s price is determined by iron ore prices, making instability in China’s economy, a major iron ore producer, a concern. Additionally, tariffs on imported steel in the US further increase steel prices.
The Spill Containment Market faces significant challenges due to the increasing global health concern over environmental damage caused by fuels, chemicals, and hazardous liquids. Effective spill containment is crucial for medical treatment facilities handling pigmented lesions, skin regeneration, and skin toning chemicals. Technological advancements in lasers and machinery industry offer solutions, but infrastructure and power requirements pose challenges. Secondary containment systems, such as spill containment decks, pallets, and berms, are essential for damage control measures. The construction sector and urbanisation expand infrastructure, increasing the need for these systems. Supply chains for absorbents and spill containment technology must be robust to meet demand. Hazardous substance spills in interior waterways, seashore waters, and ocean water require immediate response. The genetic testing market offers potential for predictive analysis, improving treatment outcomes and patient satisfaction. The market’s future depends on continuous technological advancements and effective implementation of spill containment solutions.
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Segment Overview
This spill containment decks market report extensively covers market segmentation by
Product
1.1 Plastic spill containment decks
1.2 Steel spill containment decks
Geography
2.1 North America
2.2 APAC
2.3 Europe
2.4 South America
2.5 Middle East and Africa
1.1 Plastic spill containment decks- The Spill Containment Decks market refers to the production and sale of structures designed to prevent oil or other hazardous material spills in marine environments. These decks provide a barrier between the water and potential sources of spills, ensuring containment and minimizing environmental damage. The market continues to grow due to increasing regulations and the importance of protecting marine ecosystems. Companies invest in advanced technologies to produce efficient and effective spill containment solutions.
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Research Analysis
The Spill Containment Market encompasses the production, installation, and maintenance of barriers designed to prevent the spread of hazardous substances in various waterways, including interior waterways, seashore waters, and ocean water. Absorbents, berms, and spill containment pallets are common solutions used in this market. The construction sector, urbanisation, infrastructure development, and government initiatives are significant drivers for the growth of the Spill Containment Market. Infrastructure and power projects, such as buildings, roads, railroads, wind turbines, and technologically advanced places, require extensive spill containment systems to protect against fuel, chemical, and hazardous liquid spills. Secondary containment systems play a crucial role in ensuring the effectiveness of primary containment measures. The genetic testing market also intersects with the Spill Containment Market, as advanced testing methods are used to identify and mitigate the impact of spilled substances.
Market Research Overview
The Spill Containment Market encompasses the production, installation, and maintenance of barriers for containing hazardous substances in various waterways, including interior waterways, seashore waters, and ocean water. Absorbents, berms, spill containment pallets, and secondary containment systems are essential components of this market. The construction sector, urbanisation, infrastructure development, and various industries such as fuels, chemicals, and hazardous liquids, are significant end-users. Government funds, piling machines, underwater pilings, wind turbines, and economic restructuring are also influencing factors. The pandemic period has brought about travel restrictions, lockdowns, business closures, and disruptions to product manufacture and delivery schedules, impacting global sales margins and supply systems. Technological advancements in spill containment technology, damage control measures, and lasers are driving innovation in this market. The healthcare sector, with its focus on medical treatment for conditions like obesity, pigmented lesions, and skin regeneration, also intersects with the spill containment market through the use of technologically advanced places and infrastructure and power.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Plastic Spill Containment Decks
Steel Spill Containment Decks
Geography
North America
APAC
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio