Global Marine and Protective Coatings Resins Market By Resin Type (Epoxy, Polyurethane, Acrylic, Alkyd, Polyester, Others), End-User (Industrial, Oil & Gas, Marine, Automotive, Construction, Mining, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Marine and Protective Coatings Resins Market
Global marine & protective coatings resins market is expected to register a substantial CAGR in the forecast period of 2019-2026. The constant need for repair and maintenance in ships/boats is a contributing factor for this market growth.
Market Definition: Global Marine and Protective Coatings Resins Market
Marine coatings are defined as protective coatings having the ability to efficiently protect against the oxidation depending on the technical parameters such as corrosion protection through galvanic, barrier or inhibition effects, improved adhesion and crack resistant properties. There are some technologies which are included in the marine coatings and they are film drying, laser fusing and laser marking.
- Growing demand from the infrastructure & construction industry boosts the demand of marine & protective coatings resins
- There is a constant demand for the repair & maintenance of ships and boats; this is another factor boosting this market growth in the forecast period
- Increasing need for efficient processes and longer life of equipment and devices also acts as a market driver
- These coating offers several features like bonding ability with different materials, moisture resistance nature and corrosion-resistivity will also drive the growth of the market
- Increasing cost of the raw materials is restraining market growth
- Strict environmental regulations on production and usage of protective coatings also restricts this market growth
Segmentation: Global Marine and Protective Coatings Resins Market
By Resin Type
- Oil & gas
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2017, AkzoNobel has launched an innovative marine coating app known as AkzoNobel marine coating’s international mobile app in order to enhance user’s experience. The app will help the customers to access Company’s wealth of coating data. The app provides access to technical datasheets, product brochures, information cards, social media among others. The app has the feature of updating the latest information for customer’s assurance. This launch will enhance the product portfolio of the company in the market
- In November 2018, PPG announced launch of their PPG Novaguard 810 ER coating in U.S. and Canada. It is a two-component, solvent free, amine rapid-cured novolac epoxy coating with smooth finish for easy cleaning and inspection. It provides protection to fuel tanks, ballast tanks and internal and external superstructures of tugs and barges. This launch will enhance the demand of the market as it protects the assets during harsh marine environments.
Global marine & protective coatings resins market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of marine & protective coatings resins market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global marine & protective coatings resins market are Ashland, Clariant International Ltd., Diamond Vogel, Jotun, RPM International, Inc., DSM, Solvay, Sono-Tek Corporation, Hempel A/S, Wacker Chemie AG, Akzonobel N.V., The Sherwin-Williams Company, PPG Industries, Inc., Valspar, Sika AG among others.
Research Methodology: Global Marine and Protective Coatings Resins Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved