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Global Marine Coatings Market Opportunities and Forecast 2023-2030

  •   DLR2768
  •   August, 2021
  •   Pages: 120
  •  Global
Marine Coatings Market Overview

Due to tangential forces of fluid, ships undergo a huge amount of frictional resistance inside the water while traveling from one place to a different. This resistance can cause ship degradation and may be highly disadvantageous to the marine vehicles industry. This is often the rationale why ships are religiously painted with anti-corrosion coatings as they protect the hull from any prospective damages. This is often driving the worldwide marine coatings market and providing imperative growth thereto.
 
The world population is increasing exponentially. This when paired with a rise in income acts as a robust growth driver for the worldwide marine coatings market. For leisure activities, people are soliciting yacht and cruise ships for vacationing, which successively is increasing the marine industry and increasing manufacturing of ships. It’s important for the businesses to draw in the consumers through improving the looks of ships aesthetically by applying anti-fouling paints on them.
 
The one big challenge repeatedly encountered by the marine coatings market is that the wastage of product during application on marine vehicles and therefore the environmental damage followed. Consistent with epoxy Committee, 20% of the epoxy utilized in marine coatings is probably going to urge lost during application. This challenge is often combated by the introduction of bio marine coatings that don't cause harm to the environment even when wasted.
 
Covid-19 Impact on Marine Coatings Market:

The ongoing COVID-19 pandemic conditions has severely affected every sector around the world. Whereas, the chemicals and materials sectors moderately affected during the pandemic. This is primarily due to uncut demand of chemicals for healthcare, life science and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end use industries directly affected the chemical demand all around the world.
 
Marine Coatings Market Segment Overview

The anti-fouling marine coatings segment is going to be valued at around USD 2.5 billion by 2027. These are applied to the marine vessel to hamper the subaquatic growth, rendering a smoother hull and improved fuel efficiency. Manufacturers are investing in R&D to develop more efficient anti-fouling coatings.

In addition, Deep-sea accounts for a big share within the marine coatings market. High dependence on petroleum and therefore the risk of running out of rare-earth element metals which are indispensable to modern technology has led to an increase in mining and drilling activities within the deep seas.

Vessels operating in these applications include oil tankers, gas carriers, vehicle carriers, refrigerated cargo ships, chemical tankers, and bulk carriers. These carriers operate in salty conditions that cause fouling and abrasion. The coatings protect the surface and enhance vessels’ performance. Industry players like Akzo Nobel N.V. offer optimum marine coatings solutions specific to deep-sea applications. The corporate offers Intercept 8000 LPP, an anti-fouling coating for deep-sea applications.

Market Analysis, Insights and Forecast – By Type
·       Anti-fouling coatings
·       Anti-corrosion coatings
·       Foul release coatings
·       Others

Market Analysis, Insights and Forecast – By Application
·       Coastal
·       Containers
·       Deep sea
·       Leisure boats
·       Offshore vessels
·       Others

Market Analysis, Insights and Forecast – By End User
·       New Ships
·       Repair Work

Marine Coatings Market Regional Overview

Region-wise, in terms of regions, The Asia Pacific marine coatings market is projected to grow at the very best CAGR during the forecast period, in terms useful. the expansion of the market within the Asia Pacific region are often attributed to increased demand for marine coatings from various countries like China, India, and South Korea . Various countries of the Asia Pacific region have expanded their ship manufacturing base, which, in turn, has led to the expansion of the Asia Pacific marine coatings market.

The presence of favourable geographical locations facilitating efficient and smooth sea trade is supporting the marine coatings market growth. Government organizations are providing financial also as regulatory support to market the industry.

Marine Coatings Market, By Geography
 
·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Marine Coatings Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Marine Coatings are highlighted below.

·       In June 2021, Chugoku Marine Paints, Ltd. launched a fuel-efficient anti-fouling product for ocean-going vessels. Increasing product availability will support the segment penetration over the forecast timeframe

Marine Coatings Market, Key Players

·       Akzo Nobel N.V.
·       Jotun A/S
·       Hempel A/S
·       Chugoku Marine Paints, Ltd
·       Kansai Paint Co.,Ltd.
·       NipponPaint Co.
·       Sherwin-Williams Company
·       PPG Industries
·       RPM International
·       KCC Corporation.

Marine Coatings Market Study Global Market Analysis, Insights and Forecast, 2020-2027

    1. Introduction

    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions

    2. Executive Summary

      3. Market Dynamics

      • 3.1. Market Drivers
      • 3.2. Market Restraints
      • 3.3. Market Opportunities

      4. Key Insights

      • 4.1. Key Emerging Trends – For Major Countries
      • 4.2. Latest Technological Advancement
      • 4.3. Regulatory Landscape
      • 4.4. Industry SWOT Analysis
      • 4.5. Porters Five Forces Analysis

      5. Global Marine Coatings Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 5.1. Key Findings / Summary
      • 5.2. Market Analysis, Insights and Forecast – By Type
        • 5.2.1. Anti-fouling coatings
        • 5.2.2. Anti-corrosion coatings
        • 5.2.3. Foul release coatings
        • 5.2.4. Others
      • 5.3. Market Analysis, Insights and Forecast – By Application
        • 5.3.1. Coastal
        • 5.3.2. Containers
        • 5.3.3. Deep sea
        • 5.3.4. Leisure boats
        • 5.3.5. Offshore vessels
        • 5.3.6. Others
      • 5.4. Market Analysis, Insights and Forecast – By End User
        • 5.4.1. New Ships
        • 5.4.2. Repair Work
      • 5.5. Market Analysis, Insights and Forecast – By Region
        • 5.5.1. North America
        • 5.5.2. Europe
        • 5.5.3. Asia Pacific
        • 5.5.4. Latin America, Middle East, and Africa

      6. North America Marine Coatings Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 6.1. Key Findings / Summary
      • 6.2. Market Analysis, Insights and Forecast – By Type
        • 6.2.1. Anti-fouling coatings
        • 6.2.2. Anti-corrosion coatings
        • 6.2.3. Foul release coatings
        • 6.2.4. Others
      • 6.3. Market Analysis, Insights and Forecast – By Application
        • 6.3.1. Coastal
        • 6.3.2. Containers
        • 6.3.3. Deep sea
        • 6.3.4. Leisure boats
        • 6.3.5. Offshore vessels
        • 6.3.6. Others
      • 6.4. Market Analysis, Insights and Forecast – By End User
        • 6.4.1. New Ships
        • 6.4.2. Repair Work
      • 6.5. Market Analysis, Insights and Forecast – By Country
        • 6.5.1. U.S.
        • 6.5.2. Canada

      7. Europe Marine Coatings Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 7.1. Key Findings / Summary
      • 7.2. Market Analysis, Insights and Forecast – By Type
        • 7.2.1. Anti-fouling coatings
        • 7.2.2. Anti-corrosion coatings
        • 7.2.3. Foul release coatings
        • 7.2.4. Others
      • 7.3. Market Analysis, Insights and Forecast – By Application
        • 7.3.1. Coastal
        • 7.3.2. Containers
        • 7.3.3. Deep sea
        • 7.3.4. Leisure boats
        • 7.3.5. Offshore vessels
        • 7.3.6. Others
      • 7.4. Market Analysis, Insights and Forecast – By End User
        • 7.4.1. New Ships
        • 7.4.2. Repair Work
      • 7.5. Market Analysis, Insights and Forecast – By Country
        • 7.5.1. UK
        • 7.5.2. Germany
        • 7.5.3. France
        • 7.5.4. Italy
        • 7.5.5. Spain
        • 7.5.6. Russia
        • 7.5.7. Rest of Europe

      8. Asia Pacific Marine Coatings Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 8.1. Key Findings / Summary
      • 8.2. Market Analysis, Insights and Forecast – By Type
        • 8.2.1. Anti-fouling coatings
        • 8.2.2. Anti-corrosion coatings
        • 8.2.3. Foul release coatings
        • 8.2.4. Others
      • 8.3. Market Analysis, Insights and Forecast – By Application
        • 8.3.1. Coastal
        • 8.3.2. Containers
        • 8.3.3. Deep sea
        • 8.3.4. Leisure boats
        • 8.3.5. Offshore vessels
        • 8.3.6. Others
      • 8.4. Market Analysis, Insights and Forecast – By End User
        • 8.4.1. New Ships
        • 8.4.2. Repair Work
      • 8.5. Market Analysis, Insights and Forecast – By Country
        • 8.5.1. China
        • 8.5.2. India
        • 8.5.3. Japan
        • 8.5.4. Australia
        • 8.5.5. South East Asia
        • 8.5.6. Rest of Asia Pacific

      9. Latin America, Middle East, and Africa Marine Coatings Market Analysis (USD Billion), Insights and Forecast, 2020-2027

      • 9.1. Key Findings / Summary
      • 9.2. Market Analysis, Insights and Forecast – By Type
        • 9.2.1. Anti-fouling coatings
        • 9.2.2. Anti-corrosion coatings
        • 9.2.3. Foul release coatings
        • 9.2.4. Others
      • 9.3. Market Analysis, Insights and Forecast – By Application
        • 9.3.1. Coastal
        • 9.3.2. Containers
        • 9.3.3. Deep sea
        • 9.3.4. Leisure boats
        • 9.3.5. Offshore vessels
        • 9.3.6. Others
      • 9.4. Market Analysis, Insights and Forecast – By End User
        • 9.4.1. New Ships
        • 9.4.2. Repair Work
      • 9.5. Market Analysis, Insights and Forecast – By Country
        • 9.5.1. Brazil
        • 9.5.2. Saudi Arabia
        • 9.5.3. UAE
        • 9.5.4. Rest of LAMEA

      10. Competitive Analysis

      • 10.1. Company Market Share Analysis, 2018
      • 10.2. Key Industry Developments
      • 10.3. Company Profile
      • 10.4. Akzo Nobel N.V.
        • 10.4.1. Business Overview
        • 10.4.2. Segment 1 & Service Offering
        • 10.4.3. Overall Revenue
        • 10.4.4. Geographic Presence
        • 10.4.5. Recent Development
      *Similar details will be provided for the following companies
      • 10.5. Jotun A/S
      • 10.6. Hempel A/S
      • 10.7. Chugoku Marine Paints, Ltd
      • 10.8. Kansai Paint Co.,Ltd.
      • 10.9. NipponPaint Co.
      • 10.10. Sherwin-Williams Company
      • 10.11. PPG Industries
      • 10.12. RPM International

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      Research Process

      Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.

      In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization

      FIGURE 1: DLR RESEARH PROCESS

      research-methodology1

      Primary Research

      Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.

      In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.

      It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.

      Secondary Research

      Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.

      Market Size Estimation

      Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.

      Forecast Model

      research-methodology2