2021 Insight: The Future of Leisure Boat Marine Coating Market

Post COVID-19 Impact on Leisure Boat Marine Coating Market

With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.

Research Dive' group of skilled analysts provide a solution to help the companies to survive and sustain in this economic crisis. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts.

Our study helps to acquire the following:

• Long-term and short-term impact of Covid-19 on the market

• Cascading impact of Covid-19 on Leisure Boat Marine Coating Market, due to the impact on its extended ecosystem

• Understanding the market behaviour Pre- and Post-COVID-19 pandemic

• Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity

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Pre COVID-19 Analysis on Leisure Boat Marine Coating Market

According to a study by Research Dive, the leisure boat marine coating market is anticipated to account for $2,097.6 million by 2026, registering a CAGR of 6.9% from 2019-2026.

The global leisure boat marine coating market is largely driven by extensive use of leisure boats, vessels, and yachts, and these factors are expected to drive the market growth in the coming years. Moreover, the coatings improve aesthetic appeal and visual appearance of the boat surfaces. These coatings resist mechanical damage to the boat such as fouling and corrosion and improve the boat’s service life; these factors are anticipated to enhance the growth of the market. The cost variability of the resources, such as raw materials, is restraining the leisure boat marine coating market.

Leisure Boat Marine Coating Market Segmentation by Product

• Foul release
• Anti-corrosion
• Anti-fouling
• 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

Recent Developments in Leisure Boat Marine Coating Market:

Technical improvements on anti-fouling coatings to detect physical and chemical properties of the anti-fouling agents are being used on boats. The hybrid anti-fouling coating imparts properties like increasing the binding characteristics, high resistance against fouling and less environmental impact. This factor is anticipated to enhance the leisure boat marine coating market growth during the forecast years.

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Key Players

• Chugoku Marine Paints, Ltd. (TYO: 4617)
• PPG Industries, Inc. (NYSE: PPG)
• Axalta (NYSE: AXTA)
• Kansai Paint Co.,Ltd. (TYO: 4613)
• AkzoNobel (AMS: AKZA)
• KCC CORPORATION (KRX: 002380)
• NIPSEA GROUP
• DuPont
• BASF Coatings GmbH
• Katradis Marine Ropes Ind. S.A.
• Baril Coatings
• MCU COATINGS INTERNATIONAL

Foul release coatings will witness a significant growth that is projected to reach $400.6 million with a CAGR of 7.7% during the forecast period. This growth is attributed to foul release coatings which is a subsidiary of anti-fouling. Foul release coating has ability of resistance against corrosion and fouling by offering smooth surface for microbes or bacteria attaching to the boat surface.
This factor is projected to drive the market growth in the coming years. Anti-fouling coating segment held the highest leisure boat marine coating market size in 2018 and it was valued at $509.2 million. The increased demand of anti-fouling coating for the leisure boats is due to its efficiency to resist microbe growth. The market for Anti-fouling is expected to register a revenue of $826.5 million with a 6.2% CAGR during the projected period.

Asia-Pacific growth in Leisure Boat Marine Coating Market

The market for Asia-Pacific region is anticipated to experience remarkable growth rate as a result of the growing the number of participants in the recreational activities, is directly increasing the requirement of leisure boats. In addition, growth of high-net-worth individuals in the Australia, Japan and China is further estimated to enhance the growth of the market in the near future. The market for Asia-Pacific is anticipated to register a revenue of $595.7 million with a growth rate of 7.5% during the projected time. The global leisure boat marine coating market share is dominated by Europe region and is projected to retain its dominance in the projected time. This region market was generated for $401.0 million in 2018 and is estimated to register revenue of $645.0 million by 2026, at a CAGR of 6.1%. This is majorly owing to rising the demand of leisure and yachts boats coupled with rapid increase in the water based sports activities across the region.

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This release was published on openPR.