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How Marine Coatings Market Growing Rapidly? Top Manufacturers are AkzoNobel, Jotun, Hempel A/S, PPG Industries, DuPont

Marine Coatings Market

Marine Coatings Market

Marine Coatings Market is set to grow at a healthy CAGR up to 2024, driven by the fact that maritime transportation remains one of the chief means of bulk transportation around the world after air transportation. Cruise ships are also becoming more common as more people around the world are investing on adventurous activities, increasing the demand for luxury cruises. These trends are consequently expected to augment marine coatings market, slated to surpass $15 billion by 2024.

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Asia Pacific has one the most robust ship building industries in the world and countries like China, Japan, South Korea, Taiwan and Philippines are essentially the leaders in the regional shipbuilding industry. Significantly in 2015, 20 gross tons of marine coatings material had been consumed by the China shipbuilding industry. Marine coatings are used to increase the longevity of vessels and since it is a mandate to use marine coatings in ship manufacturing, the production of ships in the Asia Pacific region has created a potent growth avenue for the marine coatings market in this region.

Drydocking activities are also one of the driving factors for the marine coatings industry as many older vessels require regular maintenance to keep them functional. Therefore, even if the current ship building activities might decline, already operational ships require fresh layers of marine coatings to remain functional. Experts opine that maintenance and overhauling activities will be mainly accountable for garnering a significant part of the marine coatings market revenue over the ensuing years.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. AkzoNobel
2. Jotun
3. KCC Corporation
4. Hempel A/S
5. Chugoku Marine Paints, Ltd
6. Nippon Paint (Pakistan) (Pvt) Ltd
7. Kansai Paint Co.,Ltd
8. RPM International Inc.
9. Sherwin-Williams
10. PPG Industries
11. MCU Technologies Africa
12. DuPont
13. BASF Coatings (India) Pvt. Ltd.
14. Axalta
15. Katradis Marine Ropes Industry SA

Owing to extensive an application landscape, anti-fouling coatings are expected to account for a major share of the marine coatings market revenue over 2016-2024. Since ships are prone to damage caused by growth of subaquatic organisms on its hull, it is mandatory to use anti-fouling agents on ships and to regularly re-apply coats of anti-fouling paints and coatings to make sure that the ship remains protected from physical and chemical damage. Remarkably, in 2015 anti-fouling coatings accounted for 40% share of the global marine coatings market.

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Anti-corrosion coatings that essentially prevent the hull from being vulnerable to rust will also garner a significant market share. Indeed, it is anticipated the after being pegged at $3 billion in 2015, anti-corrosion marine coatings market will register a 6% CAGR over 2016-2024.

Table Of Content For This Research Report:

Chapter 5 Marine coatings Application Insights

5.1 Marine coatings market share by application, 2016 & 2024

5.2 Coastal

5.2.1 Global Marine coatings market estimates and forecast, 2013 - 2024

5.2.2 Global Marine coatings market estimates and forecast, by region, 2013 - 2024

5.3 Containers

5.3.1 Global Marine coatings market estimates and forecast, 2013 - 2024

5.3.2 Global market estimates and forecast, by region, 2013 – 2024

5.4 Deep sea

5.4.1 Global market estimates and forecast, 2013 - 2024

5.4.2 Global market estimates and forecast, by region, 2013 – 2024

5.5 Leisure boats

5.5.1 Global market estimates and forecast, 2013 - 2024

5.5.2 Global market estimates and forecast, by region, 2013 – 2024

5.6 Offshore vessels

5.6.1 Global market estimates and forecast, 2013 - 2024

5.6.2 Global market estimates and forecast, by region, 2013 – 2024

5.7 Others

5.7.1 Global market estimates and forecast, 2013 - 2024

5.7.2 Global market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/marine-coatings-market

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

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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