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Asia Pacific Marine Coating Market 2018 Analysis by Top Vendors like BASF, Hempel A/S, Chugoku Marine Paints Ltd., Jotun, Kansai Paint Co. Ltd, Nippon Paint Holdings Co., Ltd, KCC Corporation and PPG Industries
Asia Pacific Marine Coating Market
Marine coatings would prevent the growth of microorganisms, which adds to the frictional drag in vessels. Increased frictional drag would result in a higher fuel consumption, leading to higher CO2 emissions in the atmosphere. Thus, the increasing need for fuel saving and low-emission coatings from the consumers is driving the Asia Pacific marine coatings market. An unprecedented boom in the shipbuilding industry in Asia Pacific resulted in a large number of new shipbuilding projects.
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Volatility in raw material prices is one of the major factors hampering the growth of the market in the past few years. Raw materials represent the largest element of the marine coatings market. Thus, an increase in the cost of any key element can significantly impact the profitability.
Foul release coatings projected to be the fastest growing segment in the overall marine coating market during the forecast timeframe. Growing shipbuilding and ship repair & maintenance activities in the region shall propel the marine coating market growth in next few years. China is the largest producer and consumer of marine coating in Asia Pacific, owing to its increasing global trade and defense expenditure.
Key applications of marine coatings include vessels, tank and containers, cargo ships, offshore vessels, tugs, yacht, and boats. Major end-user industries involved in the industry are commercial, transportation, military, and leisure boats. Considering the increasing demand for eco-friendly marine coatings globally, technological developments are key to the growth of the market. New coating technologies would enable fuel savings, reduce carbon dioxide emissions, translating into tradable carbon credits with a cash value.
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The marine coating market is diverse and includes giant multi-national players. The marine coating industry has some chief global players including BASF SE, Akzo Nobel N.V., Hempel A/S, Chugoku Marine Paints Ltd., Jotun A/S, Kansai Paint Co. Ltd, Nippon Paint Holdings Co., Ltd, KCC Corporation, PPG Industries and MCU Coatings International.
Segments We Cover:
Marine coating market by product
Anti-fouling coating
Anti-corrosion coating
Foul release coating
Others
Marine coating market by application
Coastal
Containers
Deep see
Leisure boats
Offshore vessels
Others
The above information is provided on a regional and country basis for the following:
China
India
Japan
Australia
Indonesia
Malaysia
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Related Reports:
1. Asia Pacific Attapulgite Market Share By Product (Colloidal, Sorptive), By End-User (Cat Litter Absorbent, Oil & Gas, Agriculture, Paints & Coatings, Medical & Pharmaceutical), Industry Analysis Report, Regional Outlook (China, India, Japan, Australia, Indonesia, Malaysia, Thailand, Singapore, South Korea, Vietnam, Philippines), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
www.graphicalresearch.com/industry-insights/1009/APAC-att...
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