Marine Coatings Comprehensive Study

What is Marine Coatings Market?

Marine coatings are protective coating used in the marine industry to protect ships, tankers, vessels, and other materials from saline water. The marine coatings market has high growth prospects owing to increasing demand from the shipbuilding industry. Further, growing marine infratstrure globally, demand for eco-friendly marine coatings, and rising focus on advancements in marine coating techniques expected to drive the demand for marine coatings market over the forecasted period.The market study is being classified by Type (Anti-Fouling Coatings and Anti-Corrosion Coatings), by Application (Cargo Ships, Passenger Ships and Boats) and major geographies with country level break-up. According to AMA, the Global Marine Coatings market is expected to see growth rate of 7.9%PG Industries (United States), AkzoNobel (Netherlands), Hempel (Denmark), Sherwin-Williams (United States), Jotun (Norway), Chugoku Marine Paints (Japan), Nippon Paint (Japan) and BASF Coatings (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Kansai Paint (Japan) and Axalta (United States).Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that United States, Japan Vendors will contribute to the maximum growth of Global Marine Coatings market throughout the predicted period.

Segment Analysis

Analyst at AMA have segmented the market study of Global Marine Coatings market by Type, Application and Region.On the basis of geography, the market of Marine Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

Market Drivers

• Increasing Demand from the Shipbuilding Industry
• Growth in Marine Infrastructure

Market Trend

• Rising Demand for Ecofriendly Marine Coatings
• Emphasizing On Advancements in Marine Coating Techniques

Restraints

• Fluctuating Raw Material Prices
• Stringent Environmental Regulations Regarding Marine Coating

Opportunities

• Increasing Demand for Polyurethane Resin
• Growing Shipbuilding Activities in the Developing Countries Such as India, China, and Others

Challenges

• Lack of Awareness in the Emerging Economies

“In September 2008, the international convention on the control of harmful anti-fouling systems on ships came into force. It states that on passenger ships constructed on or after 1 July 2008, paints, varnishes and other finishes used on exposed surfaces of cabin balconies, excluding natural hardwood decking systems, shall not be capable of producing excessive quantities of smoke and toxic products, this being determined in accordance with the Fire Test Procedures Code.”

Key Target Audience

Manufacturers of Marine Coatings, Chemical Suppliers, Raw Material Suppliers, Manufacturers of Coatings, Government and Research Organizations, Traders, Distributors, and Suppliers of Marine Coatings, Industry Associations and Research and Consulting Firms

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