Global Marine Coatings Market (2019-2025) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Latest 2023 Developments of the Global Marine Coatings Market 

The global Marine Coatings Market is developing as key players in the maritime coatings business work to develop metal-free anti-fouling coatings that do not damage the hull while offering foul resistance, a trend is emerging. Marine coatings manufacturers are looking for solutions to reduce speed loss while cutting fuel consumption and improving operational efficiency. Chugoku Marine Paints has introduced a new antifouling coating that is resistant to algal and slime growth as well as hard fouling. Hydractive technology is also being used by manufacturers, which effectively slows down the antifouling's water uptake. As a result, long-term performance is stable and high-quality.

Mergers And Acquisition:

• On 23 Dec 2020, AkzoNobel acquired New Nautical Coatings.
• On 29 June 2021, AkzoNobel announced to acquire Grupo Orbis.
• On 02 March 2021, AkzoNobel completes the acquisition of Titan Paints in Spain.
• On 18 Feb 2021, Hempel announced to the acquisition of Wattyl Australia and New Zealand.
• In 2019 Jotun and Hyundai Heavy Industries (HHI) of South Korea signed a memorandum of understanding for a new form of maritime paint that reduces solvent emissions by 90%.

Global Marine Coatings Market Synopsis

Growing world trade, increasing demand for cargo ships, and boats coupled with growing investment in the construction of marine ports have propelled the demand for the global marine coating market. The marine coating prevents ships, ship parts, and cargo containers from abrasions and corrosions which increases the lifespan of the ships. Growing government investment in setting up marine transport and relaxation of taxation policies on the import or export of goods through naval transportation would result in the setting up of the shipbuilding industry leading to a surge in demand for marine coating during the forthcoming years.

According to 6Wresearch, the Global Marine Coatings Market size is anticipated to register growth during 2019-2025. Anti-fouling coatings accounted for a major share of market revenues owing to the high coating demand for ships and cargo containers which increases the durability of the products. Anti-fouling coatings make the ship's surface non-sticky which leads to an increase in the durability of the product and reduction in fuel consumption.

Asia Pacific region accounted for a major share of market demand owing to the presence of large established naval transportation systems in the region coupled with favourable government policies for naval trade. China, Japan, and South Korea are the leading countries in the shipbuilding industry globally which would lead to high demand for marine coating chemicals over the forecast period. North America and Europe are anticipated to register high growth over the next six years.

The global marine coatings market report thoroughly covers the market by chemical base, products, applications, and regions including North America, Latin America, APAC, MEA and Europe, and key countries. The global marine coatings market outlook report provides an unbiased and detailed analysis of the on-going global marine coatings market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The global Marine coatings market has anticipated growth that is significant in the upcoming years. The coatings are used for the control of corrosion the increased focus on the consequences of the corrosion and another hand increase in the demand for the coating and its performance.  There are affecting coating applications such as environmental controls, film thickness, method of application. There are defects coating applications such as orange peel, cracking or mud cracking, under thickness, runs, orange peel, over thickness, sprays, human errors, grit inclusions, sags, cissing. There are in-service failures coating such as stress-related coating failures, poor surface preparation, through film breakdowns, weld corrosion, calcareous deposit included coating failures, reverse impact damage, and shop primer failure. There are affecting the marine coatings market. The structure of the vessel is used to safeguard the investment of capital and they're an important contributor to reducing the corrosion of the new technology in the protective coating. In the marine corrosive environment, the new technology coatings are the first line of defence. Eco-friendly products are regulations and restrictions due to an increase in the environment-changing customer preference and manufacturers of the product. In the forecast period, the growth of the marine coating market is expected to drive. The major participants of the silicone-based foul-release products offer fluororesion. Large cargo ships consume a lot of foul-release technology for the results. The market of Marine Coatings market products is segmented the anti-foul coating and anti-release coatings. The segment of the marine coatings market is based on chemistry epoxies, ethyl silicates, and polyurethanes. The marine coating market has different regions such as Europe, North America, and Asia Pacific. There are all key countries such as Jotun A/S,  Akzo Nobel NV, Nippon paint marines Co. Ltd., Kansai paint Co. Ltd, Hempel A/S, Engineered marine coatings LLC, Chugoku Marine Paints Ltd, PPG Industries Inc., Advanced Marine Coating AS.

The Global marine coatings market is anticipated to witness promising growth backed by the ship maintenance and repair industry. Marine coatings tend to prevent the surface of ships from corrosion and abrasion and tend to provide long life to the ship and are highly in demand in the marine industry and would, simultaneously benefit the Global marine coatings market to gain traction in the coming years. Further, rising investments for the growth and development of the shipbuilding, repair, and maintenance industry along with an increase in the trade activities through the ship is anticipated to bolster the shipbuilding industry and would proliferate the potential growth of the Global marine coatings market in the coming timeframe. 

Key Highlights of the Report:

• Global Marine Coatings Market Overview
• Global Marine Coatings Market Outlook
• Global Marine Coatings Market Forecast
• Historical Data of Global Marine Coatings Market Revenues & Volume for the Period 2015-2018
• Global Marine Coatings Market Size and Global Marine Coatings Market Forecast of Revenues & Volume, Until 2025
• Historical Data of Global Marine Coatings Market Revenues & Volume, by Chemical Base, for the Period 2015-2018
• Market Size & Forecast of Global Marine Coatings Market Revenues & Volume, by Chemical Base, Until 2025
• Historical Data of Global Marine Coatings Market Revenues and Volume, By-Products, for the Period 2015-2018
• Market Size & Forecast of Global Marine Coatings Market Revenues and Volume, By-Products, Until 2025
• Historical Data of Global Marine Coatings Market Revenues and Volume, By Applications, for the Period 2015-2018
• Market Size & Forecast of Global Marine Coatings Market Revenues and Volume, By Applications, Until 2025
• Historical Data of North America Marine Coatings Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of North America Marine Coatings Market Revenues and Volume, Until 2025
• Historical Data of Latin America Marine Coatings Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Latin America Marine Coatings Market Revenues and Volume, Until 2025
• Historical Data of Europe Marine Coatings Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Europe Marine Coatings Market Revenues and Volume, Until 2025
• Historical Data of Asia Pacific Marine Coatings Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Asia Pacific Marine Coatings Market Revenues and Volume, Until 2025
• Historical Data of the Middle East & Africa Marine Coatings Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of the Middle East & Africa Marine Coatings Market Revenues and Volume, Until 2025
• Market Drivers and Restraints
• Global Marine Coatings Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Global Marine Coatings Market Share, By Players
• Global Marine Coatings Market Share, By Regions
• Global Marine Coatings Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Global Marine Coatings Market report provides a detailed analysis of the following market segments:

By Chemical Base:

• Epoxy-based coatings
• Acrylic-based Coatings
• Alkyds Based Coatings
• Polyurethane based coatings
• Others

By-Products:

• Anti-Fouling Coatings
• Anti-Corrosion Coatings
• Foul Release Coatings
• Others

By Applications:

• Cargo Ships
• Passenger Ships
• Boats
• Others

By Regions:

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East & Africa

Frequently Asked Questions About the Market Study (FAQs):