(MENAFN - GetNews) Global Marine Coatings Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The Marine Coatings Market is expected to rise from its initial estimated value of USD 3.67 billion in 2018 to an estimated value of USD 6.76 billion by 2026, registering a CAGR of 7.95% in the forecast period of 2019-2026. Global Marine Coatings Market By Resin (Epoxy, Alkyd, Polyurethane, Acrylic, Polyester, Fluoropolymer), Product Type (Anti- Corrosion Coating, Antifouling Coating), Applications (Cargo Ships, Passenger Ship, Boat), Marine Segment (Dry Docking, New Shipbuilding), End- Use (Marine, Oil & Gas, Industrial, Construction, Energy and Power, Transportation), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Industry Trends and Forecast to 2026
Key Market Competitors:
Few of the major competitors currently working in marine coating market are PPG Industries, Inc., Akzo Nobel N.V., Axalta Coatings Systems, Cabot Corporation, Carboline Company, Coolshield International Pty., Ltd, Delta T & Protective Products, Excel Enterprise, General Coatings Corporation, Jotun, Kansai Paint Co., Ltd., Lincoln Industries, Mascoat, Mathur Corr-Tech Private. Limited., Nippon Paint Holdings Co., Ltd., NPP Engineering, Sharpshell Industrial Solutions.
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Key Developments in the Market:
In May 2017, AkzoNobel announced the launch of their new marine coating app to improve the user experience. The app will help the customers to access Company's wealth of coating data. In November 2018, PPG announced launch of their PPG Novaguard 810 ER coating in U.S. and Canada. It will protect fuel tanks, ballast tanks and internal and external superstructures of tugs and barges. They are solvent- free and amine rapid- cured novolac epoxy coatings.
Global marine coating market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of marine coating market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Insights in the report: Complete and distinct analysis of the market drivers and restraints Key Market players involved in this industry Detailed analysis of the Market Segmentation Competitive analysis of the key players involved
Requirement for the repairing and maintenance of the ship is driving the growth of the market They are excellent oil, water, chemical and weather resistance.
Market Restraints: The strict environmental regulation on the production of the protective coating is restraining the growth of this market. Increasing cost of the raw materials is restraining market growth
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Segmentation: Global Marine Coatings Market
Epoxy Alkyd Polyurethane Acrylic Polyester Fluoropolymer
By Product Type Anti- Corrosion Coating Antifouling Coating
Cargo Ships Passenger Ship Boat
By Marine Segment Dry Docking New Shipbuilding
By End- Use
Marine Oil & Gas Industrial Construction Energy and Power Transportation
By Geography North America US Canada Mexico South America Brazil Argentina Rest of South America Europe Germany France United Kingdom Italy Spain Russia Turkey Belgium Netherlands Rest of Europe Asia-Pacific Japan China South Korea India Australia Singapore Malaysia Indonesia Thailand Philippines Rest of Asia-Pacific Middle East and Africa South Africa Egypt Saudi Arabia United Arab Emirates Israel Rest of Middle East and Africa
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