Marine Coatings market Insight Growth Analysis on Volume, Revenue and Forecast to 2020-2027

Marine coatings are used in marine environments for protection against salt water, corrosion, fouling, and UV radiation. The protection of the ship both above and below the waterline is crucial. The coatings adhere to virtually any surface and make them impervious to water.  Marine coatings help prevent UV radiation damage, above the waterline, while fouling and corrosion, is prevented below the waterline. Boat docks, boat hulls, or any other surface that is exposed to water can also be sealed with marine coatings to prevent corrosion. An increase in life of marine vessels and equipment is observed on application of marine coatings.

There is a tendency of corrosion due to exposure to hostile marine environments. The consequences of corrosion are larger than the price incurred in preventing it, hence marine coatings have become a vital part of the shipping and shipbuilding industries. In addition, fuel consumption is reduced if the ship is in optimal shape. The major challenges are environmental regulations against leachable coatings. High VOC coats on leaching have an adverse effect on marine ecosystems. Furthermore, oil price instability has led to raw material price fluctuations which is expected to slow down market growth in the forecast period.

Top Key Players in Marine Coatings  market: Nippon paint marines Co. Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., AkzoNobel NV, DuPont, Axalta Coating Systems, Engineered marine coatings LLC, Chugoku Marine Paints Ltd., Advanced Marine Coating AS, KCC Corp., Kansai Paint Co. Ltd.

Regional Analysis:

The market research report on the global Marine Coatings market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered:

The largest end user of anti-fouling agents is the marine industry. As it operates in the midst of a highly corrosive saline environment. Coating reduces the frequent need for the expensive process of dry docking, helping minimize operating costs. The oil & gas industry employs marine coatings on subsea equipment that are subjected to hostile pressure and temperature conditions in deep-water and ultra-deep-water zones.

• Asia Pacific is the largest market for marine coatings. This is driven by both, the marine and oil & gas industry. Increasing demand for energy in emerging economies of India, China, Indonesia, Philippines, and ASEAN has boosted exploration and production activities in this region. Moreover, demand for goods has been followed by increased shipping and shipbuilding activity in this region, which in turn has driven the marine coatings market. In addition, the development of this region as a low cost manufacturing zone has also increased shipping.
• North America and Europe are the largest markets for boats, yachts, and cruise liners, though these account for a relatively small market share in the marine industry. The luxury cruise liner segment is the fastest growing in these regions.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com 

Marine coatings are used in marine environments for protection against salt water, corrosion, fouling, and UV radiation. The protection of the ship both above and below the waterline is crucial. The coatings adhere to virtually any surface and make them impervious to water.  Marine coatings help prevent UV radiation damage, above the waterline, while fouling and corrosion, is prevented below the waterline. Boat docks, boat hulls, or any other surface that is exposed to water can also be sealed with marine coatings to prevent corrosion. An increase in life of marine vessels and equipment is observed on application of marine coatings.

There is a tendency of corrosion due to exposure to hostile marine environments. The consequences of corrosion are larger than the price incurred in preventing it, hence marine coatings have become a vital part of the shipping and shipbuilding industries. In addition, fuel consumption is reduced if the ship is in optimal shape. The major challenges are environmental regulations against leachable coatings. High VOC coats on leaching have an adverse effect on marine ecosystems. Furthermore, oil price instability has led to raw material price fluctuations which is expected to slow down market growth in the forecast period.

Top Key Players in Marine Coatings  market: Nippon paint marines Co. Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., AkzoNobel NV, DuPont, Axalta Coating Systems, Engineered marine coatings LLC, Chugoku Marine Paints Ltd., Advanced Marine Coating AS, KCC Corp., Kansai Paint Co. Ltd.

Regional Analysis:

The market research report on the global Marine Coatings market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered:

The largest end user of anti-fouling agents is the marine industry. As it operates in the midst of a highly corrosive saline environment. Coating reduces the frequent need for the expensive process of dry docking, helping minimize operating costs. The oil & gas industry employs marine coatings on subsea equipment that are subjected to hostile pressure and temperature conditions in deep-water and ultra-deep-water zones.

• Asia Pacific is the largest market for marine coatings. This is driven by both, the marine and oil & gas industry. Increasing demand for energy in emerging economies of India, China, Indonesia, Philippines, and ASEAN has boosted exploration and production activities in this region. Moreover, demand for goods has been followed by increased shipping and shipbuilding activity in this region, which in turn has driven the marine coatings market. In addition, the development of this region as a low cost manufacturing zone has also increased shipping.
• North America and Europe are the largest markets for boats, yachts, and cruise liners, though these account for a relatively small market share in the marine industry. The luxury cruise liner segment is the fastest growing in these regions.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com