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    Marine Coatings Market | Covid-19 Impact Analysis

    Marine Coatings Market | Covid-19 Impact Analysis

    Marine Coatings Market | Covid-19 Impact Analysis
    Report code - SRAM494 Delivery - 2 Weeks
    Marine Coatings Market Size, Share, Trend, Forecast, & Industry Analysis – 2020- See more...
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    Impact of COVID-19 on Marine Coatings Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Marine Coatings Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Marine Coatings Market Insights

    Marine Coatings market is likely to witness a healthy CAGR of 4.5% during the forecast period. The major factor influencing the demand for marine coatings is mainly its increasing demand from the shipbuilding & repair industry. Marine coatings possess various properties, such as providing protection to the surfaces and parts of ships from corrosion and abrasion. Further, they improve the visual appearance and aesthetic appeal of surfaces, which in turn, is driving the growth of the market.

    Marine Coatings Market - Snapshot

    Growth

    4.5% for the next five years

    Major Resin Type

    Epoxy

    Dominant Product Type

    Antifouling Coatings

    Fastest-Growing Application Type

    Passenger Ships

    Region with the highest demand

    Asia-Pacific

    Key Players

    PPG Industries, Akzonobel, Sherwin-Williams, Hempel, Jotun,

    Chugoku Marine Paints, Nippon Paint, Axalta, BASF Coatings, and

    Kansai Paint.

     

    Market Share Analysis

    Marine-Coatings-Market-Dominant-Segments

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    Marine Coatings Market Share: By Resin Type

    Based on the resin type, the market is segmented as epoxy, alkyd, polyurethane, and others. The epoxy resin held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. It possesses various properties, such as water and chemical resistance, high durability, and owns excellent adhesive property to a variety of substrates.

    Marine Coatings Market Share: By Product Type

    Based on the product type, the marine coatings market is segmented as anti-corrosion marine coatings, antifouling coatings, primer coatings, varnish coatings, chemical resistant coatings, anti-slip coatings, and others. The antifouling coatings segment is expected to be dominant during the forecast period. These coatings are applied to a ship’s hull to prevent marine growth and improve vessel performance and durability. They protect the components of ships and surfaces from marine biofouling. This coating develops smooth and non-sticky surface on the parts of the ship, due to which it becomes extremely hard for fouling organisms to get attached to these parts.  

    Marine Coatings Market Share: By Application Type

    Based on the application type, the market is segmented as cargo ships, passenger ships, boats, and others. The passenger ships segment is expected to remain the fastest-growing application during the foreseen duration. The growth in the coastal and maritime tourism across the globe is contributing to the growth of the shipping industry in the market.

    Marine Coatings Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the largest marine coatings market during the forecast period, with China, Japan, South Korea, Vietnam, Indonesia, and India, being the major countries with promising growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as industrial, transportation, electronics, and medical, which is generating substantial demand for marine coatings, increase in new shipbuilding projects and programs, and the presence of a large number of marine coatings manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer lucrative growth opportunities during the forecast period.

    Marine-Coatings-Market-By-Region

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    Some of the major marine coating manufacturers are-

    • PPG Industries
    • AkzoNobel
    • Hempel
    • Sherwin-Williams
    • Jotun
    • Chugoku Marine Paints
    • Nippon Paint.

     

    Market Scope & Segmentation

    Marine coatings are the coatings that are applied on the ship’s surface, cruises, vessels, yachts, and other offshore structures i.e. oil rigs and bridges to protect them against corrosion, fouling and slimes, as they are exposed to the sea water and corrosive conditions.

    These coatings increase the durability and life of the vessels of marine and offshore structures.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Marine Coatings Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The marine coatings market is segmented into the following categories. 

    Marine Coatings Market Size, Share, & Forecast, by Resin Type:

    • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Alkyd (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyurethane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Coatings Market Size, Share, & Forecast, by Product Type:

    • Anti-Corrosion Marine Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Antifouling Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Primer Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Varnish Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chemical Resistant Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Anti-Slip Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Coatings Market Size, Share, & Forecast, by Application Type:

    • Cargo Ships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Passenger Ships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Marine Coatings Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Marine-Coatings-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the resin types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

     


    Frequently Asked Questions (FAQs)

    What will be the growth of Marine Coatings Market in the foreseeable future?

    The marine coatings market is expected to experience an impressive growth of 4.5% CAGR in the foreseeable future.

    Who are the key players in the Marine Coatings Market?

    PPG Industries, AkzoNobel, Hempel, Sherwin-Williams, Jotun, Chugoku Marine Paints, and Nippon Paint are among the key players in the marine coatings market.

    Which country/region is expected to be the largest Marine Coatings Market?

    Asia-Pacific is expected to be the largest marine coatings market during the next five years.

    Which product type is expected to remain dominant in the Marine Coatings Market?

    The antifouling coatings segment is expected to be dominant product type in the marine coatings market in the coming years.

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