Press release
Marine Sealants Market 2018-2024 | SABA, Dow Corning, 3M, Bostik, Henkel, Sika and RPM International Inc.
GMI
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Marine Sealants Market size is estimated to exceed USD 330 Million by 2024; according to a new research report by Global Market Insights, Inc. Rising food demand resulting in increasing grain trade will open new avenues for business growth. U.S. is anticipated to account for 40% of the global grain exports by 2030. Moreover, increasing number of trade routes is expected to boost the industry demand.
Strong outlook in both shipbuilding and repair applications has enhanced the product demand. Increasing product usage in passenger ships, cargo ships, tankers and military ships production will drive the industry size. Superior vibration damping, watertight isolation, waterproofing along with high bonding and caulking properties are supporting the product penetration.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. SABA
2. Dow Corning Corporation
3. 3M
4. Bostik Marine
5. Henkel AG & Company
6. Adshead Ratcliffe & Co
7. Sika
8. Illinois Tool Works
9. RPM International
10. Royal Adhesives & Sealants
11. Franklin International
12. Avery Dennison
13. H.B. Fuller
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Cargo ships accounted for more than 55% of the global marine sealants market share in 2016. Expansion in seaborne fleet along with increasing shipments for numerous consumer products has fueled the industry growth. Tankers are estimated to witness gains over 3.5% up to 2024. Increasing trade of natural gas, crude oil, LNG, product oil will propel the marine sealants market growth. Europe market is estimated to worth over USD 150 Million by 2024. Changing lifestyles along with shifting government focus on tourism development are the key driving factors of the industry demand.
Marine sealants market share was led by polysulfide accounting for over 50% in 2016. Durable elastomeric seal along with superior properties under prolonged immersion conditions has stimulated the product penetration. Potential applications in assembly of fishing vessels, heavy duty ships, and cruises will drive the overall industry size.
North America marine sealants market will grow at 3.8% up to 2024. Increasing R&D spending and technological advancement to develop application specific products has enhanced the product penetration. Additionally, increasing shipbuilding orders for military ships is the key factor driving the regional demand.
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Marine Sealants Market, By Material
• Silicone
• Polyurethane
• Polysulfide
• Butyl
• Others (SMP)
Marine Sealants Market, By Application
• Above water-line sealing
• Below water-line sealing
• Deck to hull
• Window bonding
Marine Sealants Market, By Type
• Cargo ships
• Tankers
• Passenger ships
• Fishing vessel
• High speed craft
• Others (Warships, submarine)
Marine Sealants Market, By End-Use
• Shipbuilding
• Repair
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.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/
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