Marine Coatings Market Report Overview

The report provides an analysis of both the current and future conditions in the Marine Coatings market, delivering valuable insights and the latest information across essential segments. Within the context of the Marine Coatings market, the study covers crucial research areas like revenue generation, sales, and overall income. In order to offer a thorough evaluation, the report presents two distinct scenarios that encompass the entire range of the Marine Coatings market, including the projected Marine Coatings sales during the forecast period.

Marine Coatings Market was valued at USD 5.92 Billion in 2023, and it is expected to reach USD 9.04 Billion by 2030, exhibiting a CAGR of 6.24% during the forecast period (2024-2030)

Marine Coatings Market Report Scope and Research Methodology

The primary goal of the Marine Coatings market report is to offer a comprehensive analysis using clear and straightforward language. The study encompasses all the prominent companies and key aspects within the Marine Coatings market, evaluating various measures like volume, share, growth, and strategies. This research not only assists established businesses in refining their operational plans but also provides future entrants with strategic recommendations. MMR's research undertakes a thorough exploration of the Marine Coatings market, highlighting the foremost global companies based on metrics such as volume, share, strategies, and growth. The report further supplies strategies applicable to both existing industry participants and prospective Marine Coatings market entrants. Moreover, the global report for the Marine Coatings market presents a meticulous breakdown of regional share distribution, accompanied by an examination of growth drivers in those specific regions.

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Marine Coatings Market Regional Insights

North America expected to witness significant growth during the forecast period. Thanks to the limited scale of the marine industry in the region, the marine coatings market in North America is growing slowly. In terms of market growth, but at a slower rate, the market for marine coatings in the Europe region is just above the North American market.

APAC: With a high growth rate anticipated over the coming years, the APAC marine coatings industry will continue to dominate the worldwide marine market. The consumption of marine coatings has increased dramatically in the APAC region, with China leading the APEJ region and the world in terms of consumption. This is largely due to the growth of shipbuilding, maintenance, and dry-docking operations in the area.

Marine Coatings Market Segmentation

by Product

Anti-fouling coatings
Anti-corrosion coatings
Foul release coatings
Others

by Application

Coastal
Containers
Deep sea
Leisure boats
Offshore vessels
Others

Leisure boats dominated the global Marine Coatings market with a revenue share of more than 25.7% in 2023. The value of the marine coatings market is being supported by the growing boating and water sports industries as well as the introduction of numerous water clubs around the world. Over 25% of Americans, or roughly 84.5 million people, participated in boating activities in 2018, according to research by the U.S. Coast Guard. A large segment of the market for marine coatings is made up of deep-sea products. An increase in deep sea mining and drilling operations can be attributed to the world's heavy reliance on crude oil as well as the potential shortage of rare earth metals, which are essential to modern technology.

by End Users

New Ships
Repair Work

new ship segment is projected to grow at the highest CAGR of 7.15% during forecast period. The maritime sector has seen increased investment and rising trade activity, which has bolstered the shipbuilding industry. To boost the amount of Indian cargo that is transhipped at harbours, India, for instance, plans to invest over USD 40 billion by 2030 in the building of new ports and the renovation of existing ports. In addition, a number of government agencies have developed programmes to encourage the trade of products by maritime transportation.

by Resin

Epoxy
Alkyd
Polyurethane
Others (Acrylic, Polyester, and Fluoropolymer)

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Marine Coatings Market Key Players

1. PPG Industries, Inc. (US)
2. Axalta Coating Systems, LLC (US)
3. Cabot Corporation. (US)
4. Carboline Company (US)
5. General Coatings (US)
6. Progress Rail Services Corporation (US)
7. Mascoat (US)
8. The Sherwin-Williams Company (US)
9. Kop Coat (US)
10.RPM International, Inc. (US)
11.Delta T & Protective Products (Canada)
12.BASF SE (Germany)
13.Chemco International Ltd (UK)
14.Jotun (Norway)
15.Boero (Italy)
16.Hempel A/S (Denmark)
17.Akzo Nobel N.V. (Netherlands)
18.EXCEL India Protective Paints Pvt. Ltd (India)
19.Mathur Corr Tech Private Limited (India)
20.Chugoku Marine Paints, Ltd. (Japan)
21.Kansai Paint Co.,Ltd. (Japan)
22.Nippon Paint Holdings Co., Ltd. (Japan)
23.KCC Corporation (South Korea)
24.Sharpshell Engineering (South Africa)
25.Cresta Paints (Africa)

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Key Offerings:

Past Market Size and Competitive Landscape (2017 to 2021)
Past Pricing and price curve by region (2017 to 2021)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segments and their sub-segments
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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