Marine Coatings Market Key Players Growth Analysis of Nippon Paint, Kansai Paint, BASF Coatings, ACA, Netherlands Maritime Technology, Coating & Paint.com, UAE Ports & Shipping Directory, International Paint Marine and Others
The Global Marine Coatings Market is expected to reach USD 12.68 billion by 2025, from USD 8.29 billion in 2017 growing at a CAGR of 5.4% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
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Some of the major players operating in the global marine coatings market are PPG Industries, AkzoNobel , Hempel , Sherwin-Williams , Jotun, Chugoku Marine Paints , Nippon Paint , Kansai Paint , Axalta ,BASF Coatings , ACA, Netherlands Maritime Technology, Coating & Paint.com, UAE Ports & Shipping Directory, International Paint Marine, among others.
This market report defines the market trends and forecast the upcoming opportunities and threats of global marine coatings market in the next 8 years. Marine coatings are protective coating mostly used in marine environment to protect ships, vessels, tankers etc. The main purpose of using marine coating is to provide superior protection from corrosion and abrasion to the surfaces to which it is applied. There are four types of marine coating such as anti-fouling coatings, anti-corrosion coatings, foul release coatings, self-cleaning and self-polishing coatings.
In Jul 2017,Eclora, started the new series of non-toxic & anti-fouling grapheme enhanced marine coatings in order to control the growth of marine organisms and reduce fuel consumption of vessels.
In Oct 2017, Hempel launched two new premium antifouling coatings – Globic 9500M and Globic 9500S for the reduction in speed loss, fuel savings of 2.5%, along with the reduction in CO2 emissions and also to improve the operational efficiency of a vessel. They are now focusing on developing antifouling coatings. It will affect to decrease maintenance costs and increase vessel efficiency.
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The global marine coatings market is segmented based on product type, resign, application, and geographical segments.
Based on the product type, the global marine coatings market is segmented into anti-corrosion coatings, antifouling coatings.
On the basis of resin, the global marine coatings market is segmented into classified epoxy, alkyd, polyurethane and others.
On the basis of application the global marine coatings market is segmented into cargo ships, passenger ships, boats and others.
Based on geography, the global marine coatings market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
The global marine coatings 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 coatings market for global, Europe, North America, Asia Pacific and South America.
Major Market Drivers and Restraints:
Increasing shipbuilding activities in Asia Pacific
New upcoming shipbuilding projects and plans
Growing in reduction in fuel consumption
Increased in environmental regulation
Fluctuating raw material prices
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