Know How Marine Coatings Market is Thriving Worldwide? Key Players - AkzoNobel, Jotun, PPG Industries, and Hempel, DuPont, Sherwin-Williams, BASF.

Asia Pacific marine coatings market is poised to witness healthy growth prospects in the coming years. APAC region, being a large-scale harbor for the shipbuilding industries is witnessing lucrative growth from China, followed by other countries including Japan, Philippines, Taiwan and South Korea.

Extensive use of marine coatings to improve longevity and performance of the ship will propel marine coatings industry in this region. China dominated the shipbuilding industry with demand generated over 20 million gross tons in 2015. Europe and North America marine coatings market together accounted for combined share of over 25% in 2015. Asia Pacific market is racing ahead of the others by holding nearly two-third of the overall share.

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Rising demand for marine coatings during ship mending and maintenance activities will lead to an upsurge in Marine Coatings Market. These coatings offer a defense against the corrosive marine environment. Along with increasing hull performance, these coatings are as well preferred for enhancing the aesthetics.

Marine coatings are also important in enhancing the fuel efficiency of a vessel by minimizing the contact of the metal body with the environment. As per Global Market Insights, Inc., “Marine Coatings Market is estimated to witness a CAGR of 7% over the period of 2016-2024.”

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Stringent norms filed by the regulatory bodies will set agenda for R&D and the coating manufactures to develop biodegradable coatings giving rise to the increasing number of consumers preferring environment friendly coatings. Need for low emission and fuel saving coatings will augment the marine coatings industry.

Based on type of marine coatings available in the market the industry is segmented into anti-corrosion, foul release, anti-fouling, and other coatings. Anti-fouling coatings market accounted for more than 40% of the overall marine coatings industry in 2015. This product is extensively used to prevent fouling growth on the outer layer of the vessel. This segment will also witness healthy growth, owing to a large number of ships which require maintenance down the line.
Partial Chapter of the Table of Content

Chapter 2 Executive Summary

2.1 Marine coatings industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends

Chapter 3 Marine Coatings Industry Insights

3.1 Marine coatings industry segmentation
3.2 Marine coatings industry size and forecast, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distributor matrix
3.4 Marine coatings industry impact forces
3.4.1 Growth drivers

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3.4.1.1 Rising Asia Pacific shipbuilding industry
3.4.1.2 Increasing ship reparing and overhaul demand
3.4.1.3 Growing need for low fuel consumption and low emission coatings
3.4.2 Industry pitfalls and challenges
3.4.2.1 Inconsistent raw material prices
3.4.2.2 Strict environmental regulations pertaining to marine coatings
3.5 Growth potential analysis
3.6 Regulatory trends
3.6.1 U.S.
3.6.2 Europe
3.6.3 China
3.7 Porter’s analysis
3.8 Company market share analysis, 2015

3.7.1 Strategic landscape
3.9 PESTEL analysis
3.10 Regional price trends
3.10.1 Cost structure analysis
3.10.2 Raw material trends

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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