Marine Coatings Market is expected to reach USD 9.15 billion by Size, Industry Trends, Strategic Analysis, Growth Drivers, Demands and Future Opportunities till Forecast 2029

Marine Coatings Market Overview:

Marine coatings are applied to container ships, bulk carriers, tankers, passenger ships and general cargo as they protect surfaces & parts of ships and marine containers from abrasion and corrosion. Corrosion degrades the components and significantly reduces the service life of marine vessels. The ship builders and repair service providers also apply these coatings to improve the visual appearance and aesthetics of the exterior surfaces.

The global Marine Coatings market Size was valued at USD 2.93 billion in 2020, and is expected to garner USD 9.15 billion by 2029, registering a CAGR 4% during the forecast period 2022-2029.

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 Rising demand for coatings from ship repair and maintenance activities is propelling the marine coatings market forward. Rising ship repair and maintenance activities are expected to drive significant growth in the marine coatings market. Anti-fouling coatings are expected to be in high demand due to drydocking and maintenance. Furthermore, an increasing number of new shipbuilding projects is expected to drive marine coatings market growth over the forecast period.

Marine Coatings Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are PPG Industries, Inc., Akzo Nobel N.V., Axalta Coating Systems, LLC, Cabot Corporation., Carboline Company, Delta T & Protective Products., EXCEL India Protective Paints Pvt. Ltd., General Coatings and Others

Recent Development

In December 2021, AkzoNobel N.V. finalised its complete acquisition of New Nautical Coatings as a strategic move to sustain a strong position in Yacht coating business in New York.
In September 2021 The Eastern Coatings show, organised by Eastern coatings Federation has been postponed to November (17-19 likely) 2021 so as to allot time for complete vaccination of its members, sponsors, and partners to ensure a safe environment for the conference.
In January 2021, PPG Pittsburgh PA acquired Versaflex, a paint and coatings manufacturer specialized in polyuria and flooring coatings, this acquisition is expected to widen the marget segment and market penetration area for PPG.

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Marine Coatings Market Segmentation:

Marine Coatings Market by Resin, 2022-2029, (USD Million)

EPOXY
ALKYD
POLYURATHENE
Others

Marine Coatings Market by Product Type, 2022-2029, (USD Million)

Anti- Corrosion
Anti- Fouling Coating
Others

Marine Coatings Market by Application, 2022-2029, (USD Million)

Cargo Ships
Passenger Ships
Boats
Others

Growth Factors:

Increasing demand from the Marine Coatings industries
The growing use of Marine Coatings in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Marine Coatings Market

Marine Coatings Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Marine Coatings Market Trends

- The report identifies, determines, and forecasts the Global Marine Coatings Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Marine Coatings Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Marine Coatings Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Marine Coatings Market.

Frequently Asked Questions

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