Marine Coatings Market Share and Growth Rate 2025: PPG Industries, AkzoNobel, Hempel, Sherwin-Williams, Jotun, Chugoku Marine Paints, Ltd, NIPPON PAINT CO., LTD., Kansai Paint Co.,Ltd, Axalta and Others

Marine Coatings Market report has been prepared based on detailed market analysis with inputs from industry experts. It is very important to know all market definition, classifications, segments, applications, engagements and market trends to know how the Marine Coatings Market is going to perform in the Forecast years 2018-2025.

This analysis gives an examination of various segments that are relied upon to witness the quickest development amid the estimate forecast frame. The report also consists of the all the market drivers and restrains which are derived from SWOT analysis while also giving all the CAGR projections for the historic year 2016 base year 2017 and forecast period of 2018-2025.

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.

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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

Market Segmentation: Global Marine Coatings Market

Based on the product type:

• Anti-Corrosion Coatings
• Antifouling Coatings

On the basis of resin:

• Epoxy
• Alkyd
• Polyurethane
• Others

On the basis of application:

• Cargo Ships
• Passenger Ships
• Boats
• Others

Based on geography:

• North America
• South America
• Europe
• Asia-Pacific
• 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.

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Major Market Competitors/Players: Global Marine Coatings Market

• 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

Market Analysis: Global Marine Coatings Market

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.

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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