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Marine Coatings Market
Global Marine Coatings market is projected to grow from US$ 2.93 bn in 2023. to US$ 9.15 bn by 2030, at a compound annual growth rate (CAGR) of 4%.
Surging demand for marine coatings reflects growing need for effective vessel protection against harsh marine environments” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, March 13, 2024 /EINPresswire / -- The Latest Report, titled“Marine Coatings Market” Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030, by Exactitude Consultancy offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The Marine Coatings market has been growing significantly in recent years, driven by a number of key factors, such as increasing demand for its products, expanding customer base, and technological advancements. This report provides a comprehensive analysis of the Marine Coatings market, including market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth.
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The purpose of this report is to provide valuable insights into market dynamics, enabling users, investors, and business owners to make informed investment decisions. The report offers accurate information on different market segments and highlights the top companies operating in each segment. The authenticity of the data is ensured through verification by industry experts and opinion leaders. The information is gathered through comprehensive primary and secondary research, and it is presented in a well-organized manner using tables, figures, diagrams, and charts to enhance clarity and comprehension of the Marine Coatings market trends.
Our Sample Report May Includes:
📝 Market Dynamics
📝 Competitive Analysis
📝 Market Trends And Market Outlook
📝 Market Share And Market Size
📝 Opportunities And Customer Analysis
📝 Product Pricing Research
Marine Coatings Market Key Players Covered In This Report:
PPG Industries, Inc., Akzo Nobel N.V., Axalta Coating Systems, LLC, Cabot Corporation., Carboline Company, Delta T & Protective Products., EXCEL India Protective Paints Pvt. Ltd., General Coatings, Jotun, Kansai Paint Co., Ltd.
Recent Developments:
In December 2021, AkzoNobel N.V. finalised its complete acquisition of New Nautical Coatings as a strategic move to sustain a strong position in Yacht coating business in New York.
In September 2021 The Eastern Coatings show , organised by Eastern coatings Federation has been postponed to November (17-19 likely) 2021 so as to allot time for complete vaccination of its members, sponsors, and partners to ensure a safe environment for the conference.
Market Trends
Increasing urban population coupled with the improving lifestyle of the consumers is contributing to the market growth of marine coatings. Growing population and increasing demand for various types of vessels, small boats, ranging from ferries, fishing vessels, tow and tugboats, bulk carriers, the oil industry vessels, cargo ships, passenger ships, and container ships are again projected to augment the market growth of the marine coatings.
Growing partnership and agreement in the market of the marine coatings industry is one of the emerging trends in the market. For instance, in January 2020, AkzoNobel and Midwest Outdoor Marketing announced a partnership to further enhance service levels for yacht coatings customers in the Midwestern U.S. This partnership enable better serve across existing customers in the Midwest.
Marine Coatings Market Segmentation:
Marine Coatings Market by Resin, 2022-2029, (USD Million)
EPOXY
ALKYD
POLYURATHENE
Others
Marine Coatings Market by Product Type, 2022-2029, (USD Million)
ANTI- CORROSION
ANTI- FOULING COATING
Others
Marine Coatings Market by Application, 2022-2029, (USD Million)
Cargo Ships
Passenger Ships
Boats
Others
Key Region/Countries are Classified as Follows:
The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered. The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
Latin America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
The demand for Marine Coatings is being driven by the rising acceptance by the market. The market for Marine Coatings was dominated by the Asia Pacific region this is mostly due to China, Japan, and South Korea building a lot of new ships. Shipbuilding businesses have opened factories all across the region thanks to the accessibility of cheap and competent labour. The expansion of the marine coatings industry is being supported by advantageous geographic conditions that make maritime trade efficient and straightforward. Governmental agencies help the shipbuilding sector through financial and regulatory support. North America to hold a higher CAGR during the forecast period.
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Growth Drivers:
Rising Shipbuilding & Repair Activity: Increased international trade relies heavily on maritime transport, leading to a demand for more ships and frequent repairs. This translates to a need for more marine coatings
Protective Properties: Marine coatings offer crucial protection for ships. They shield against corrosion, abrasion, harsh weather conditions, and biofouling (accumulation of marine organisms). This extends the lifespan of vessels and improves fuel efficiency
Aesthetics: Marine coatings also enhance the visual appeal of ships.
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The Global Marine Coatings Market Industry Report Covers the Following Data Points:
⏩ Section 1: This section provides an overview of the global market, including a general market introduction and market analysis by type, region, and application. North America, Europe, Asia Pacific, Middle East and Africa are the major geographical regions of the global Marine Coatings market industry. This section provides industry statistics and forecasts for the market from 2024 to 2030. Market dynamics explain the potential, the main forces and market risks in the workplace.
⏩ Section 2: The Marine Coatings market manufacturer's profile in this field is classified by company overview, product type and application. Each company is detailed in this study in its sales volume, product prices in the market, gross margin analysis and market share.
⏩ Section 3 and Section 4: Depending on the sales, profitability and market share of each manufacturer, these sections describe the competitiveness of the Marine Coatings market. In addition, he will discuss industry scenarios according to local conditions.
⏩ Section 5 and Section 6: These sections provide forecast data for the Marine Coatings Market (2024-2030) by region. The study presents development trends as well as sales channels including merchants, distributors and direct and indirect marketing.
⏩ Section 7 and Section 8: These pieces deal with important research results and conclusions for industry, analysis methods and data sources.
The report answers a number of crucial questions, including:
➥ Which companies dominate the global Marine Coatings market?
➥ What current trends will influence the Marine Coatings market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular Marine Coatings market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?
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