Global Marine Coatings Market, By Product (Anti-Corrosion, Foul Release, Anti-Fouling, Anti-Slip, Primer, Varnish, Chemical Resistant, Others), Type of Resins (Acrylic, Alkyds, Epoxy, Polyurethane, Others), Application (Containers, Cargo Ships, Offshore Vessels, Tankers, Others), By Region (APAC, North America, Europe, South America, Middle East & Africa) Industry Trends and Forecast till 2027
Report ID : QR1001238 | Industries : Chemicals & Materials | Published On :October 2021 | Page Count : 253Global Marine Coating Market
Marine coatings are a kind of coatings that are specifically used for marine vehicles. they provide several benefits to the ships they're painted on including improvement of appearance, weather resistance, resistance to chemical solvents like water, oils, and resistance to impact while in transit. Marine coatings protect the surfaces from damage caused by UV radiation above the waterline alongside corrosion and fouling below the waterline.
Market Drivers
This prolific rise also demands regular maintenance and monitoring of ships and tanks getting used for these trades, thereby driving the adoption of marine coatings. Other driving factor supporting the growing statistics of marine coatings market is that the expanding marine infrastructure and demand for eco-friendly marine coatings globally. The planet is witnessing a considerable rise in seaborne import and export due to favorable economic conditions and supportive government policies. Various companies are preferring seaborne transportation for the shipment of products and other products through cargo vessels. These huge cargo vessels not only facilitate cost-effective and safe transportation but carry shipments in large volume.
Know more about this report: request for sample pages
Market Restraints
Volatility in the prices of raw material along with rising number of environmental regulations is the market restraints factor for the growth of the Global Marine Coating industry. high cost of marine coatings will become the biggest challenge for the growth of the market.
Impact of the COVID-19
The marine coating industry is significantly suffering from fluctuating staple prices. Crude oil, one among the key raw materials is subject to high price volatility. petroleum derivatives prices have increased thanks to government restrictions associated with COVID-19, leading to higher prices of the end-product. Fluctuations within the prices of titanium dioxide and copper will further affect the manufacturing cost.
Market Segmentation
On the basis of Product type Global Marine Coatings Market is segmented into Anti-Corrosion, Foul Release, Anti-Fouling, Anti-Slip, Primer, Varnish, Chemical Resistant, Others, the application segment for marine coatings market includes containers, cargo ships, offshore vessels, tankers, and others. On the basis of Type of Resins market is categorized into Acrylic, Alkyds, Epoxy, Polyurethane, Others.
Market Key Players
Prominent players identified in the global marine coatings market include Akzo Nobel N. V, PPG Industries, The Sherwin-Williams Company, Axalta Coating Systems, BASF, KANSAI PAINT CO. Ltd, Nippon Paint Marine Coatings Co. Ltd, PPG Asian Paints Private Limited, Jotun, Hempel Foundation, KCC corporation, Chugoku Marine Paints, Ltd, National Paints Factories Co. Ltd, DuPont Coatings & Color Technologies.
Industry development
The importance of fuel efficiency in marine transportation will drive market developments. The expansive demand for these coatings is quite evident from the newest instance of Nippon Paint. Recently, an LNG carrier operator, Gaslog Limited has reportedly announced choosing advanced Nippon Paint Marine hull coating as a part of its recent drydocking program. AkzoNobel N.V. is set to extend its presence within the North American yacht coatings market after agreeing to accumulate New Nautical Coatings, owner of the premium Sea Hawk brand. International is marking its 140th anniversary by celebrating its proud legacy of setting new standards of performance and sustainability within the global coatings industry.
Regional Analysis
The Marine Coating Market is categorized into five regions such as North America, Europe, Asia Pacific, Middle East & Africa. North America dominates the marine coatings market due to the presence of the developed marine and oil and gas sector along with rising exports and imports within the region. Europe region is predicted to carry the most important rate of growth due to the growing international trade and oil and gas industry within the region. The Indian market is additionally expected to emerge as a robust contender within the marine coatings market within the near future. Overall, the worldwide marine coatings market is foreseen to register a healthy single digit CAGR. The demand for marine coatings is sort of high across the APAC region, attributed to the thriving industry. Moreover, feasibility of cheap and skilled labor and robust presence of shipbuilding manufacturers have added to the merchandise adoption across the region.
Global Marine Coating Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Marine Coating Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Marine Coating Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Global Marine Coating Market Share Analysis, By Product Type
5.3 Global Marine Coating Market Size and Forecast, By Product Type
5.3.1 Anti-fouling coatings
5.3.2 Anti-corrosion coatings
5.3.3 Foul release coatings
5.3.4. Anti-Slip
5.3.5. Primer
5.3.6. Varnish
5.3.7. Chemical Resistant
5.3.8 Other
6 Global Marine Coating Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Marine Coating Market Share Analysis, By Application
6.3 Global Marine Coating Market Size and Forecast, By Application
6.3.1 Containers
6.3.2 cargo ships
6.3.3 offshore vessels
6.3.4 tankers
6.3.5 others
7 Global Marine Coating Market, By Type of Resins
7.1 Y-o-Y Growth Comparison, By Type of Resins
7.2 Global Marine Coating Market Share Analysis, By Type of Resins
7.3 Global Marine Coating Market Size and Forecast, By Type of Resins
7.3.1 Acrylic
7.3.2 Alkyd
7.3.3. Epoxy
7.3.4 Polyurethane
7.3.5. Others (Polyester, and Fluoropolymer)
8 Global Marine Coating Market, By Region
8.1 Global Marine Coating Market Share Analysis, By Region
8.2 Global Marine Coating Market Share Analysis, By Region
8.3 Global Marine Coating Market Size and Forecast, By Region
9 North America Global Marine Coating Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Global Marine Coating Market Share Analysis, By Product Type
9.3 North America Global Marine Coating Market Size and Forecast, By Application
9.4 North America Global Marine Coating Market Size and Forecast, By Type of Resins
9.5 North America Global Marine Coating Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Global Marine Coating Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Global Marine Coating Market Share Analysis, By Product Type
10.3 Europe Global Marine Coating Market Size and Forecast, By Application
10.4 Europe Global Marine Coating Market Size and Forecast, By Type of Resins
10.5 Europe Global Marine Coating Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11 Asia Pacific Global Marine Coating Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Global Marine Coating Market Share Analysis, By Product Type
11.3 Asia Pacific Global Marine Coating Market Size and Forecast, By Application
11.4 Asia Pacific Global Marine Coating Market Size and Forecast, By Type of Resins
11.5 Asia Pacific Global Marine Coating Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Global Marine Coating Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Global Marine Coating Market Share Analysis, By Product Type
12.3 Latin America Global Marine Coating Market Size and Forecast, By Application
12.4 Latin America Global Marine Coating Market Size and Forecast, By Type of Resins
12.5 Latin America Global Marine Coating Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Global Marine Coating Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Global Marine Coating Market Share Analysis, By Product Type
13.3 Middle East Global Marine Coating Market Size and Forecast, By Application
13.4 Middle East Global Marine Coating Market Size and Forecast, By Type of Resins
13.5 Middle East Global Marine Coating Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Akzo Nobel N. V
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. PPG Industries
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. The Sherwin-Williams Company
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Axalta Coating Systems
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 BASF
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 KANSAI PAINT CO. Ltd
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Nippon Paint Marine Coatings Co. Ltd
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 PPG Asian Paints Private Limited
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Jotun
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Hempel Foundation
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
15.11 KCC corporation
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies
15.12 Chugoku Marine Paints Ltd
15.12.1 Overview
15.12.2 Offerings
15.12.3 Key Financials
15.12.4 Business Segment & Geographic Overview
15.12.5 Key Market Developments
15.12.6 Key Strategies
15.13 National Paints Factories Co. Ltd
15.13.1 Overview
15.13.2 Offerings
15.13.3 Key Financials
15.13.4 Business Segment & Geographic Overview
15.13.5 Key Market Developments
15.13.6 Key Strategies
15.14 DuPont Coatings & Color Technologies
15.14.1 Overview
15.14.2 Offerings
15.14.3 Key Financials
15.14.4 Business Segment & Geographic Overview
15.14.5 Key Market Developments
15.14.6 Key Strategies