Marine Coatings Market Key Finding, Latest Trends Analysis, Progression Status, Revenue and Forecast to 2030

Marine Coatings Market Report Overview

The report provides a comprehensive analysis of the current and future Marine Coatings market scenario, including insights and updates on the key sectors. The report also provides an analysis of the demand for Marine Coatings products and services across the world, as well as the manufacturing, income generation, sales, and revenue of the Marine Coatings market. It also provides a fundamental analysis of the Marine Coatings market, including the drivers, opportunities, trends, and restraints that are shaping the market.

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

Asia Pacific is dominating the global CNC market. Increasing economies, such as China and India have been witnessing rapid growth in terms of industrialization, thereby driving the CNC market. The automotive sector is expected to grow significantly during the forecast period, due to the rising demand for automobiles in the region. Similarly, easy availability of labour and the declining prices of components have resulted in manufacturers shifting their production units in this region which is further promoting the market.

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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

EpoxyAlkyd
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 questions answered in the Marine Coatings Market are:

• What are Marine Coatings market segments?
• What is the expected Marine Coatings market size by the end of the forecast period?
• What is the expected CAGR of the Marine Coatings market during the forecast period?
• What are the emerging trends in the Marine Coatings Market?
• What are the factors contributing to the final price of Marine Coatings?
• What are the major challenges that the Marine Coatings Market could face in the future?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors
• PESTLE Analysis and Porter’s Five Forces Analysis
• Key Findings
• Analyst Recommendations

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