Yacht Coatings Market Size by Growth share, Driving Factors, Key Segments and Regional Analysis

Overview:

 The global report with details of the yacht coatings market is slated to score more than USD 4.21 billion by 2022, with a CAGR of 12% during the forecast period of 2016 to 2022. Market Research Future (MRFR) revealed several factors that can boost the global demand for yacht coatings. Among them, the rise in disposable income and better innovations to boost market prominently. Demand to improve aesthetic appeal is also expected to promote the global market. These coats also perform better in increasing the durability of the yachts. The market would perform better in North America and Europe. 

 Segmentation:

 The global report, with details focusing on the yacht coatings market, can be segmented into types and applications. This segmentation provides a closer look at various sectors and reveals details regarding factors that can help in a better understanding of the global market. 

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 Competitive Landscape:

 The global yacht coatings market is witnessing a surge in demand as a rise in the yacht sale is boosting the global demand for the same. These companies are Jotun (Europe), Akzo Nobel N.V (Europe), Boero Bartolomeo S.p.A. (Europe), PPG Industries, Inc.(US), Hempel A/S(Europe), Engineered Marine Coatings LLC (US), BASF SE (Germany), Chugoku Marine Paints, Ltd (Japan), ALEXSEAL (Germany), DuPont (US), and others. These companies are expected to make an impact on the global yacht coatings market using various strategic methods like mergers, acquisitions, collaborations, by spurring the investment in their research and development sector, improving innovations, initiating new launching practices, implementing various new marketing strategies, and others. MRFR’s recording of the latest moves made by these companies can elaborately explain how the market would deliver in the coming years. 

 By types, the global market report with an analysis of the yacht coatings can be segmented into polyurethanes, ethyl silicates, epoxies, others. The epoxy segment is witnessing several changes, and it is earning traction from different companies. 

 By application, the study containing various researches on the yacht coatings market has been segmented into surfacing, final priming & sealing, fairing, specialty applications, finishing, hull, topcoat care & maintenance, and others. The hull segment has a substantial growth opportunity. In some cases, the demand to improve the aesthetic appeal is expected to boost the finishing segment. 

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 Regional Analysis:

 North America and Europe are two major regions with substantial disposable income that boosts their regional yacht markets. The rise in private owners is boosting the demand for yacht coatings in the region. Europe is the largest market with countries like France, Germany, the UK, Italy, Spain, and others contributing significantly. In North America, the market is mostly concentrated in the US and Canada, as the regional capacity to spend on such luxury items is substantial. 

 The Asia Pacific market is the third-largest market and its growth would depend much on the success in Thailand, China, Japan, and other countries. 

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 Industry News:

 In April 2020, Vicem Yachts launched their new Vicem 67 Cruiser with an aim to lure in more customers with a new design and multiple features. The yacht will also show an aesthetic upliftment. The designers have incorporated epoxy undercoating, a barrier coat, and an acrylic coating to enhance the standard of the finishing effect and improve the quality of the market. 

 In January 2020, AkzoNobel and Midwest Outdoor Marketing declared that they formed a new partnership that will help the companies to extend their business in the Midwestern region of the US. 

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