Global Marine Coatings Market, By Type (Anti-Corrosion, Foul Release, Anti-Fouling, Anti-Slip, Primer, Varnish, Chemical Resistant, Others), Surface (Concrete, Fiberglass, Metal, Wood), Type of Resins (Acrylic, Alkyds, Epoxy, Polyurethane, Others), Technology (Waterborne, Solventborne), Application (Containers, Cargo Ships, Offshore Vessels, Tankers, Others), Distribution Channel (Original Equipment Manufacturers (OEM), Aftermarkets), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Marine coatings market will reach an estimated valuation of USD 7.92 billion by 2028, while registering this growth at a rate of 8.0% for the forecast period of 2021 to 2028. Marine coatings market report analyses the growth, which is currently being growing due to the increasing need for low fuel consumption and low emission coatings.
Marine coatings are mostly used as protective coatings that are applied, among other items, to the surface of ships, cruises, yachts, oil rigs and bridges. To protect against corrosion and fouling, these coatings are used to increase the shelf life of offshore structures and marine vessels. Marine coatings protect the surfaces from damage caused by UV radiation above the waterline along with corrosion and fouling below the waterline.
The growing number of ship building activities in the emerging economies, increase in production of leisure boats and cruise ships, rising ship repairs and maintenance activities, changing customer preference for sustainable products due to an increase in environmental regulation and restrictions is urging the manufacturers to use eco-friendly products, increasing number of offshore drilling activities are some of the major as well as vital factors which will likely to augment the growth of the marine coatings market in the projected timeframe of 2021-2028. On the other hand, increasing use of sea routes for international trade has led to rise in demand for container ships, bulk carriers, and cargo ships along with advancements in marine coating technologies which will further contribute by generating massive opportunities that will lead to the growth of the marine coatings market in the above mentioned projected timeframe.
Volatility in the prices of raw material along with rising number of environmental regulations which will likely to act as market restraints factor for the growth of the marine coatings in the above mentioned projected timeframe. Problems in application of coatings caused due to human or machine errors along with high cost of marine coatings which will become the biggest and foremost challenge for the growth of the market.
This marine coatings market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on marine coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Marine Coatings Market Scope and Market Size
Marine coatings market is segmented on the basis of type, surface, type of resins, technology, distribution channel and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the marine coatings market is segmented into anti-corrosion, foul release, anti-fouling, anti-slip, primer, varnish, chemical resistant, and others.
- Based on surface, the marine coatings market is segmented into concrete, fiberglass, metal, and wood.
- On the basis of type of resins, the marine coatings market is segmented into acrylic, alkyds, epoxy, polyurethane, and others.
- Based on technology, the marine coatings market is segmented into waterborne, and solventborne.
- On the basis of distribution channel, the marine coatings market is segmented into original equipment manufacturers (OEM), and aftermarkets.
- Marine coatings market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for marine coatings market includes containers, cargo ships, offshore vessels, tankers, and others.
Marine Coatings Market Country Level Analysis
Marine coatings market is analysed and market size, volume information is provided by country, type, surface, type of resins, technology, distribution channel and application as referenced above.
The countries covered in the marine coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the marine coatings market due to the presence of the developed marine and oil and gas sector along with rising exports and imports in the region. Europe region is expected to hold the largest growth rate due to the growing international trade and oil and gas industry in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Marine Coatings Market Share Analysis
Marine coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine coatings market.
The major players covered in the marine coatings market report are PPG Industries, Inc.; Akzo Nobel N.V.; Axalta Coating Systems, LLC; Cabot Corporation.; Carboline Company; Delta T & Protective Products.; EXCEL India Protective Paints Pvt. Ltd.; General Coatings; Jotun; Kansai Paint Co.,Ltd.; Lincoln Industries; Mascoat; Mathur Corr Tech Private Limited.; Nippon Paint Holdings Co., Ltd.; Sharpshell Engineering; The Sherwin-Williams Company; Chugoku Marine Paints, Ltd.; BASF SE; Boero; Hempel A/S; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Marine Coatings Market
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