Report Description
Market for marine coatings worldwide, By Kind (Anti-Corrosion, Foul Release, Anti-Fouling, Anti-Slip, Primer, Varnish, Chemical Resistant, Others), Surface (Concrete, Fiberglass, Metal, Wood) (Concrete, Fiberglass, Metal, Wood), Application, Technology, and Type of Resins (Acrylic, Alkyds, Epoxy, Polyurethane, and Others) (Containers, Cargo Ships, Offshore Vessels, Tankers, Others), OEMs and aftermarkets are two types of distribution channels. Industry Trends and Forecast to 2028 for the following countries: United States, 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, United Arab Emirates, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
Market Analysis and Insights : Global Marine Coatings Market
The marine coatings market is anticipated to grow at an estimated CAGR of 8.0% from 2021 to 2028 to reach an estimated size of USD 7.92 billion. Report on the marine coatings market examines the expansion that has been brought on by the rising demand for coatings with low fuel consumption and low emissions.
Marine coatings are primarily applied as protective coatings to surfaces such as those of ships, cruise ships, yachts, oil rigs, and bridges, among other things. These coatings are used to prolong the useful lives of maritime vessels and offshore constructions by preventing corrosion and fouling. Marine coatings shield the surfaces against corrosion and fouling below the waterline as well as harm brought on by UV radiation above the waterline.
A few of the major and important factors that will likely lead to a change in consumer preference for sustainable products due to an increase in environmental regulations and restrictions are the growing number of ship building activities in emerging economies, the increase in production of leisure boats and cruise ships, rising ship repairs and maintenance activities, and the rising number of offshore drilling activities. A few of the major and important factors that will likely lead to a change in consumer preference for sustainable products due to an increase in environmental regulations and restrictions are the growing number of ship building activities in emerging economies, the increase in production of leisure boats and cruise ships, rising ship repairs and maintenance activities, and the rising number of offshore drilling activities.
In the above-mentioned predicted period, market restraining factors for the expansion of marine coatings are going to be volatility in raw material costs and an increase in environmental laws. The biggest and most important obstacle to the market’s expansion will be application issues brought on by human or mechanical error, together with the high cost of marine coatings.
This marine coatings market report details recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and local 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, and geographic information. Contact Data Bridge Market Research for an Analyst Brief to learn more about the marine coatings market. Our staff will assist you in making an informed choice to grow your market.
Global Marine Coatings Market Scope and Market Size
The marine coatings market is divided into many categories based on product type, surface, resin type, distribution channel, and application. You can develop alternative methods to help discover key application areas and the differences in your target markets by using the growth among the various segments to learn about the various growth factors anticipated to be present throughout the industry.
The marine coatings market is divided based on type into primer, varnish, chemical resistant, anti-corrosion, foul release, anti-fouling, anti-slip, and others.
The marine coatings market is divided into concrete, fiberglass, metal, and wood based on surface.
The marine coatings market is divided into acrylic, alkyds, epoxy, polyurethane, and other segments based on the kind of resin used.
The marine coatings industry is divided into waterborne and solvent borne segments based on technology.
Original equipment manufacturers (OEM) and aftermarkets are two market segments for marine coatings based on distribution channels.
Market value, volume, market potential, and niches are used to segment the marine coatings market into various applications. Containers, cargo ships, offshore boats, tankers, and other vessels are included in the marine coatings market’s application category.
Segmentation
By Product
- Anti-fouling coatings
- Anti-corrosion coatings
- Foul release coatings
- Others
By End Users
- New Ships
- Repair Work
- By Application
- Coastal
- Containers
- Deep sea
- Leisure boats
- Offshore vessels
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- GCC Countries
Marine Coatings Market Country Level Analysis
The marine coatings market is evaluated, and data on market size and volume is given by nation, kind, surface, type of resins, technology, distribution channel, and application as previously said.
The marine coatings market report includes data for the United States, Canada, and Mexico in North America, Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, and Turkey in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), as well as Saudi Arabia, the United Arab Emirates, Israel, Egypt, South Africa, and the rest of the Middle East
Due to the region’s growing exports and imports, as well as its sophisticated maritime and oil and gas industries, North America currently holds a monopoly on the global market for marine coatings. Due to the region’s expanding oil and gas industry and expanding international trade, Europe is predicted to have the highest growth rate.
The nation part of the research also lists specific market-impacting variables and domestic market regulation changes that have an affect on the market’s present and future tendencies. Some of the key data points used to estimate the market situation for specific nations are consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis. When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands, the difficulties they encounter owing to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.
Competitive Landscape and Marine Coatings Market Share Analysis
The competitive landscape of the marine coatings industry includes information by competitor. The company’s financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The information above only relates to the companies’ market focus on marine coatings.
Key Players
Some of the major marine coating manufacturers are-
- PPG Industries
- AkzoNobel
- Hempel
- Sherwin-Williams
- Jotun
- Chugoku Marine Paints
- Nippon Paint.