Leisure Boat Marine Coatings Market Trends by Key Players: BASF, AkzoNobel, Chugoku Marine Paints Ltd., Jotun, Hempel, KCC Corporation, RPM International Inc., PPG Industries Inc., MCU Coatings International, Baril Coatings

The hazardous nature of antifouling and anti-corrosion product types is a major source of concern among industry participants and may hamper the leisure boat marine coatings market growth in the forecast period. Antifouling product type contain toxic biocidal compounds such as copper, zinc and tributyltin (TBT) which gradually leach into the water to prevent formation of fouls in boats. Although, these products are of prime importance for increasing a boats speed and energy efficiency, their usage causes significant harm to the coastal environment. The use of anti-corrosion product type is also regulated according to the amount of volatile organic compound (VOC) emissions. These factors are likely to hinder the leisure boat marine coatings market growth as manufacturers will have to develop products that have lower environmental impact resulting in higher production costs.

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Foul release coating product will grow at CAGR of 7.5% over the coming years. This product offer advantages over conventional anti-fouling products such as high performance, lower maintenance, eco-friendly and easy application to the surface area. Further its eco-friendly properties will substitute traditional anti-fouling products over the coming years.

Asia Pacific is likely to witness high growth by rising tourism industry owing to increase in tourist arrivals at around 6% in 2015, these factors will augment market growth. Shift in consumer preferences towards recreation boating activities will positively influenced the leisure boat marine coating market.

North America is the most significant leisure boat marine coatings market and will account for more than a quarter of the overall industry by 2024. U.S. and Canada have a large coastal area and recreational boating has been a popular activity in these countries. U.S. is a major manufacturer and exporter of recreational boats and yachts which makes it an ideal high potential leisure boat marine coatings market. Canada also has a significant product demand with boating being a popular hobby for its citizens. A National Marine Manufacturers Association (NMMA) of Canada study revealed that about a third of the country’s population participated in boating each year. These factors will drive the North American leisure boat marine coatings market which will grow by a CAGR exceeding 6.5% in the forecast period.

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Partial Chapter of the Table of Content

Chapter 3. Leisure Boat Marine Coatings Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.3.2. Distributor channel analysis

3.4. Industry impact forces

3.4.1. Growth drivers

3.4.1.1. Rising HNWI population

3.4.1.2. Revival of the U.S. economy

3.4.1.3. High growth in the Asia Pacific tourism sector

3.4.2. Industry pitfalls & challenges

3.4.2.1. Environmental impact of marine coating

3.5. Growth potential analysis

3.6. Technology trends

3.7. Regulatory trends

3.7.1. U.S.

3.7.2. Europe

3.7.3. China

3.8. Porter’s analysis

3.9. Company market share analysis, 2016

3.9.1. Strategic landscape

3.10. PESTEL analysis

3.11. Regional price trends

3.11.1. Cost structure analysis

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Nippon Paint, AkzoNobel NV, Jotun, Hempel, Chugoku Marine, Baril Coatings, RPM International, Kansai Paint, PPG Industries, Sherwin-Williams, MCU Coatings, BASF Coatings, DuPont Coatings, GMBH, Axalta Coating, Katradis Marine and KCC Corporation are the prominent companies ruling leisure boat marine coatings market.

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