Marine Coatings Market Size by Key Players: AkzoNobel N.V., Jotun, PPG Industries, Hempel, Kansai Paint, Nippon Paint, DuPont, Sherwin-Williams, BASF

Worldwide Marine Coatings Market will exceed a revenue collection of USD 15 billion by 2024 with an annual growth rate of nearly 7% over the period of 2016 to 2024.

Asia Pacific shipbuilding industry, led by China, will be the principal driver for the global marine coatings market in the forecast spell. In 2015, China shipbuilding industry registered over 20 gross tons, followed by other countries of the region including Japan, South Korea, Philippines, and Taiwan. Mandatory use of the products to enhance the performance and longevity of the ship will promote the application of good quality and environment friendly coatings, hence boosting the overall industry in the coming years.

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The growing demand for efficient fuel consumption across the marine industry is positively impacting Marine Coatings Market globally. The rise in the number of shipbuilding firms by the day bears evidence to this fact. The occurrence of fouling over the hull and underwater body of ships may result in the degradation of their performance and durability, which may significantly impact the fuel consumption rate. To efficiently utilize the fuel and improve the performance of ships, it is essential to avoid the occurrence of fouling, which can be achieved by means of marine coatings. Also, the changing preferences toward marine transportation over other modes of transport will propel marine coatings industry share.

Anti-fouling coating product segment covered over 40% of the marine coatings industry share in 2015 and will register huge annual growth rate over the coming years of 2016 to 2024. While manufacturing new ships and adding the finishing touches, anti-fouling coatings are prominently used to avoid the lingering of marine organisms over the outer surface of the boat.

Leisure boat application segment in marine coatings market was worth USD 1 billion in 2015 and is predicted to register an annual growth rate of about 7% over the period of 2016 to 2024, owing to the increasing demand for leisure boats across Western Europe and North America. North America and Europe together accounted for more than 25% of the global marine coatings market share in 2015 and will generate considerable revenue over the years ahead. The other application segments such as deep sea, offshore vessels, and containers will also contribute significantly toward the marine coatings industry growth.

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Asia pacific will hold sway the global marine coatings market with nearly two-third of the overall share in 2015. This heavily active shipbuilding industry in countries such as China, South Korea, Japan, and Philippines signify the growing demand in this region.

AkzoNobel N.V., Jotun, PPG Industries, and Hempel are the top marine coatings industry players along with Kansai Paint, Nippon Paint, DuPont, Sherwin-Williams, BASF, KCC Corporation, Chugoku, RPM International, and several other important manufacturers.

Browse key industry insights spread across 120 pages with 152 market data tables & 16 figures & charts from the report, “Marine Coatings Market Size By Product (Anti-Fouling, Anti-Corrosion, Foul Release), By Application (Coastal, Containers, Deep Sea, Leisure Boats, Offshore Vessels), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/marine-coatings-market

Marine coatings market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
By Product
• Anti-fouling coatings
• Anti-corrosion coatings
• Foul release coatings
• Other marine coatings
By Application
• Coastal
• Containers
• Deep sea vessels
• Leisure boats
• Offshore vessels
• Others

The above information is provided on a regional and country basis for the following:
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Italy
• Asia Pacific
o China
o India
o Japan
o Australia
o Indonesia
o Malaysia
• Latin America
o Brazil
o Mexico
• MEA
o South Africa
o GCC

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