Global Leisure Boat Marine Coating Market Solution & Industry Updates on Coronavirus (COVID-19) Crisis

1 A Brief Introduction

Marine entities such as bacteria, algae, and barnacles are most likely to grow on the hulls of ships, creating drag and making the vessels less fuel efficient and diminishing its life. In order to prevent such organisms and other harmful factors, shipbuilders apply specific coatings to the metal hulls of the vessels.

Marine corrosion has a significant impact on seafaring vessels and their durability. Effective corrosion control strategies have been taken with the proper selection of coating for a marine environment. Marine coatings help protect marine vessels such as ships, yachts, and luxury boats above and below the waterline. The specific functional properties of marine coatings offer a higher level of protection from the saline water. According to a report by Research Dive, the global leisure boat marine coating market will surpass $1,230.0 million by 2026 from $2,097.6 million in 2018, at a CAGR of 6.9%.

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2 Leisure Boat Marine Coating Market Segmentation by Product

o Foul release
o Anti-corrosion
o Anti-fouling
o Others

Growth in the recreational participants is one of the key factor for the growth of the leisure boat marine coating market @ https://www.researchdive.com/purchase-enquiry/66

3 Recent Developments

With the rising demand of such luxury boats and marine coatings to keep them protected, there are many developments has been occurred in the industry. Some of them are mentioned below:

o In April 2019, Chugoku Marine Paints (CMP) has introduced the SEA PREMIER 3000 PLUS to the market. This is the eighth antifouling product commercialized by the Japanese paint manufacturer to contain Selektope®. The silyl polymer hydrolysis, an advanced type of antifouling coating, was explicitly designed to meet escalating fouling challenges facing by the coastal vessels in Japanese waters due to the rising temperatures of seawater. The coating product is mostly suitable for vessels functioning with a low speed or low activity rate. SEA PREMIER 3000 PLUS can also be used in interior-grating-bow thruster tunnels and sea chests.

o Dow collaborates with PPG to achieve carbon savings from anti-corrosion steel coatings. The collaboration aims at delivering reduced greenhouse gas emissions through improved coatings.
A two-coat system by PPG, based on Dow polysiloxane technology, requires lesser coats to attain the same level of safety compared to a competitive three-coat system. This results in less energy-intensive production and application, and therefore, a potential reduction of GHG emissions.

o In January 2020, Sherwin-Williams Protective & Marine Coatings has introduced its new epoxy coating offering mildew-resistant corrosion protection with an enduring, more artistic finish.

o The low-friction hull coating system LF-Sea, a product built by Nippon Paint Marine Coatings has won the Japanese Government Award for Global Warming Prevention Activity in 2020. The award was presented by Tetsuya Yagi, Japan's Parliamentary Vice-Minister of the Environment, to the President of NPMC, Seiichiro Shirahata after the coating system was found to meet all the criteria in the Countermeasure Technology category by a Select Committee.

Advancements in the antifouling coatings is providing significant investment opportunities for the growth of leisure boat marine coating market @ https://www.researchdive.com/download-sample/66

4 Key Players

o Chugoku Marine Paints, Ltd.
o DuPont
o PPG Industries, Inc.
o Axalta
o NIPSEA GROUP
o AkzoNobel
o BASF Coatings GmbH
o Katradis Marine Ropes Ind. S.A.
o Baril Coatings
o Kansai Paint Co.,Ltd.
o KCC CORPORATION
o MCU COATINGS INTERNATIONAL

Another worth mentioning fact is that, the LF-Sea coating, contributed to reduced drag, subsequently resulting in lesser fuel consumption and reduced CO2 emissions from those vessels applying the exterior coating. Based on a patented "water trapping" hydrogel technology, LF-Sea coatings reduce water flow resistance (drag), meaning less energy is required to propel the ship through the water. The coating also helps the ship owners with a reduced fuel consumption of between 4 and 10%, much lesser than the regular SPC antifouling paints.x

5 Growth Drivers

The aesthetic charm of marine reserves and the facilities juxtaposed with the increased public wakefulness of nature are contributing to creating massive tourism across the global marine sector. With such growing interest towards water sports and other activities has been resulted in growing demand of luxury marine boats.

6 Increasing Recreational Activities

The leisure and recreational boating sector is highly dependent on the customer demand. In recent years, a steady growth has been observed in the demand of such luxury boats worldwide. The high volume of visitors to the coastal regions has become an inevitable factor for the growth of the markets related to the maritime and tourism. This rising interest in marine recreational activities is giving a boost to the marine coating industry as well.

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7 Water sports

There is a glorious high of passion for water sports has been witnessed among the millennials. More and more people are involving in marine activities and adventure sports such as canyoning, rafting, and stand up paddling, to sailing trips and package deals. It has increased the demand for long- and short-term boat and yacht rentals.
While a number of different boat styles have been introduced for watersports, there are fine-tuned models made for just one specific form of watersports. Wake surfing, for example, has exploded in popularity the past few years. As a result, entire fleets of wake surfing boats have been developed. There are even marine power systems designed just for wake surfing.

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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.