Press release
Shrimp Market is set to garner staggering revenues by 2024 - 2031 | Morubel N.V., Maruha Nichiro Corporation
Shrimp Market
The shrimp market is estimated to be valued at USD 75.99 Bn in 2024 and is expected to reach USD 109.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Market Dynamics:
The global elastomeric coating market is expected to witness significant growth over the forecast period, owing to rising construction activities around the world. The growing construction industry is expected to drive the demand for elastomeric coatings in building applications such as residential, commercial, and industrial constructions. Additionally, increasing awareness about green building concepts is also fueling the adoption of elastomeric coatings for their energy-saving and eco-friendly properties. Elastomeric coatings provide insulation against heat, protecting buildings from extreme temperatures, ultimately reducing energy costs. Moreover, aging infrastructure in developed economies is augmenting the repair and renovation activities, thereby propelling the market growth.
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Rising Demand for Eco-friendly Products is Driving the Elastomeric Coating Market
The construction industry is witnessing a rise in demand for green and sustainable products. Elastomeric coatings are made from 100% acrylic resins that produce zero VOC emissions. They provide an eco-friendly alternative to traditional roof coatings and paint products. These coatings reflect sunlight and reduce heat transfer into buildings, thereby lowering energy costs for heating and cooling. They also have self-cleaning properties that extend the lifespan of roof substrates. The increasing focus on energy efficiency and reducing carbon footprint is a major driver behind the popularity of elastomeric coatings. Many governments now mandate the use of low VOC and zero VOC products for construction applications to curb air pollution. This regulatory push is compelling buildings owners to switch to environmentally-friendly elastomeric systems.
Increasing Renovation and Repair Activities Present Remunerable Opportunities
The aging infrastructure across regions like North America and Europe is driving the demand for renovation and repair activities. According to research, over 40% of commercial roofing in the US needs to be replaced. Similarly, many municipal and industrial facilities have roofs that exceed their practical lifespan. Elastomeric coatings are an economical solution for roof restoration as they provide a waterproof membrane without requiring a complete tear-off. Their excellent adhesion properties allow applications over older coating/membrane surfaces. Furthermore, they can extend the useful life of a substrate by 15-20 years through re-coating. The large refurbishment market provides considerable opportunity to elastomeric coating suppliers. Demand is also rising from other segments like marine, industrial flooring etc. where these flexible membranes find strong applications.
Increasing Focus on Self-Healing Coatings is a Major Upcoming Trend
Inspired by biological systems, researchers are working on developing elastomeric coatings with inherent self-healing properties. When cracks or cuts appear in these 'smart coatings', the formulation is designed to autonomously repair the damage within hours. This is achieved by incorporating micro/nano capsules containing healing agent that is released when the membrane is damaged. It then seeps into cracks and polymerizes to reform the continuous membrane. Some products use microvascular networks inside the matrix. These self-healing mechanisms can potentially double the durability and service life of coatings. They reduce maintenance and repair costs while improving sustainability. Major players are investing in collaborations with academic institutes to accelerate commercialization of this promising technology. Self-healing elastomer formulations are expected to emerge as an important trend over the next decade.
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Top Companies Featured in This Report:
★ Morubel N.V.
★ Maruha Nichiro Corporation
★ Pacific Seafood
★ Thai Union Group PCL
★ Clearwater Seafoods
★ Avanti Feeds Limited
★ High Liner Foods
★ Surapon Foods Public Company Limited
★ Mazzetta Company LLC
★ Aqua Star
★ Nordic Seafood A/S
★ The Waterbase Limited
★ Wild Ocean Direct
Market Segmentation:
By Product Type:
★ By Source Type: Cold Water Shrimps, Hot Water Shrimps
★ By Species: Gulf Shrimps, Farmed Whiteleg Shrimps, Blue Shrimps, Ocean Shrimps, Royal Red Shrimps
★ By Form: Frozen, Canned, Peeled, Cooked, Shell-On, Others
★ By End use Industry: Food, Cosmetics, Pharmaceutical, Biotechnology and Life Sciences, Others
★ By Distribution Channel: Hypermarket/Supermarket, Convenience Stores, Specialty Stores, Online, Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Shrimp Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Shrimp market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Shrimp market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Shrimp market.
Segment Analysis: Examining the market value and sales volume of Shrimp by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Shrimp market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Shrimp sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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