Marine coatings are waterproof, protective layers that are applied to surfaces exposed to or immersed in fresh, brackish, and salt water. They are used with boats, ships, ferries, and other watercraft, as well as with marine structures such as offshore oil rigs.
The Global Marine Coatings Market was worth USD XX billion in 2017 and is forecasted to reach USD XX billion by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
Global Marine Coatings Market – Market Dynamics
The global marine coating market is being driven by the continuous growth of the shipbuilding and offshore engineering industries in emerging economies.
Further, China, South Korea, and Japan are the world’s main shipbuilding nations. For instance, in November 2018, China approved Danish shipping giant Maersk Line’s acquisition of Hamburg Süd.
However, Biofouling is one of the main problems faced by every type of ship at the sea. Marine growth such as barnacles and mussels have been the reason for problems such as decreased ship efficiency, corrosion etc.
Also, Biofouling not only sticks to the external surface of the ships but also gets into the water intakes and sticks to the surface of the pipes leading to problems such as blockage and corrosion. These factors hinder the swift flow of the global marine coatings market during the forecast period.
Global Marine Coatings Market – Segmentation Analysis
Global Marine Coatings Market - By Type, In 2017 (%)
Foul release 20%
On the basis of type, the global marine coatings market is bifurcated into Anti-fouling, Foul release, Anti-corrosion, and Other coatings. Of these, Anti-fouling coatings is dominated the global marine market. Due to, increasing ship repairs & maintenance activities, and growing demand from the oil & gas industry. Moreover, the rising consumption of commercial vessels, passenger ships, yachts, cargo, and conventional offshore drilling rigs is expected to expand industry growth over the forecast period.
Global Marine Coatings Market – Geographical Analysis
Global Marine Coatings Market - By Region, In 2017 (%)
North America 20%
South America 10%
Asia Pacific 35%
Geographically, the global marine coatings market is segmented into North America, Europe, South America, Asia Pacific, and RoW. Of these, Asia Pacific dominates the marine coatings market owing to the increasing number of global trade. For instance, In January 2018, Maersk Line and Hamburg Süd are both launching new services between Asia and Latin America in connection with Maersk Line's acquisition of the German carrier.
Further, China accounts for the largest share of marine coatings in the Asia-Pacific region. This can be attributed to technological advances, lower costs and artistry levels in the country. Additionally, China is witnessing the most number of dry dockings. The recent decline of the merger in the shipbuilding industry, along with the slowdown of the Chinese economy, is a barrier to the growth of the marine coatings market in the country.
Europe has the second largest market share in marine coatings. Leisure boats demand likely grow owing to the growing disposable income of the population in Western Europe. These boats require a significant amount of maintenance which would improve the product demand in the region propelling the marine coating market size in the future.
Global Marine Coatings Market – Competitive Analysis
Major companies have adopted the agreement, product launch, expansion, and merger to sustain the intense competition in this market. The key players profiled in the report include Hempel, PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, BASF, KCC Corp., The Dow Chemical Company, 3M Co., Royal DSM, and Hexion. AkzoNobel is is the market leader in global marine market.
In 2018, AkzoNobel to develop new marine fouling prevention technology that is based on ultraviolet light emitting diodes (LED) to be used in underwater surfaces for the prevention of fouling.
In 2017, Hempel offers new cargo hold coating, Hempadur Ultra-strength Fibre 47510 for improving the reduction in cargo hold maintenance costs.
Why purchase the report?
• Visualize the composition of the Global Marine Coatings Market products across each indication, in terms of type and end-user highlighting the critical commercial assets and players.
• Identify commercial opportunities in the marine coatings products market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the marine coatings products levels 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the essential marine coatings products of all major market players.
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
1. Global Marine Coatings Market – Methodology and Scope
1.1. Research Methodology
1.2. The scope of the Report
2. Global Marine Coatings Market –Trends
2.1. Key Trends & Developments
3. Global Marine Coatings Market – Industry Analysis
3.1. Market Drivers
3.2. Market Restraints
3.3. Competitive Intensity- Porter 5 Forces
4. Global Marine Coatings Market – By Type
4.2. Foul release
4.4. Other coatings
5. Global Marine Coatings Market – By Application
5.1. Passenger Ships
5.2. Cargo Ships
6. Global Marine Coatings Market – By Geography
6.1. North America
6.1.1. The United States
6.2. South America
6.2.4. Rest of South America
6.3.5. United Kingdom
6.3.6. Rest of Europe
6.4.5. Rest of Asia-Pacific
6.5. Rest of the World
7. Global Marine Coatings Market – Competitor Landscape
7.1. Competitor Analysis
7.2. Key Strategies adopted by Manufacturers
8. Global Marine Coatings Market – Company Profiles
8.2. PPG Industries
8.7. KCC Corp.
8.8. The Dow Chemical Company
8.9. 3M Co.
8.10. Royal DSM
9. Global Marine Coatings Market – Appendix
9.2. List of Tables
9.3. Expert Panel Validation
9.5. Contact Us