Marine Coatings Market: increasing use of ships and corrosion in sea environment boosting demand for ship paint through 2020.
The salt water is a hostile agent that encourages corrosion of the ship hull. Moreover, without coating, it takes very less time for the unwanted organisms to settle on the hull of the boats and ships. Hence, marine paints and coatings are applied to commercial & military ships, fixed & floating marine structures such as offshore oil rigs, recreational boats, yachts and more to safeguard them from fouling and corrosion. There is high scope of growth for the Marine coatings Market during 2015-2020.
Scope and Regional Forecast of the Marine Coatings Market:
According to the IndustryARC research analysis studies on the Marine Coatings Market, the major factor owing to the growth of this industry includes expansion of oil & gas market. The increasing demand for marine coatings during ship repair and maintenance activities is yet another important reason for the upsurge in demand for marine coatings industry.
In the Marine Coatings Market, the different areas of marine vessels such as above and below the waterline require specifically formulated marine coatings. Eco-friendly products are highly preferred from the consumers in the market. However, this market is subject to intense regulations.
North America leads the Marine Coatings Market along with Europe due to high use of marine vessels for industrial and security applications. Asia Pacific is expected to show good growth for this market due to increasing industrial activities in the region. China and Japan are expected to emerge as major manufacturers in the marine coatings industry through 2020.
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Segmentation and Key Players of the Marine Coatings Market:
The Marine Coatings Market is segmented into various categories in the IndustryARC marketing research report by type, by surfaces, by type of resins, by technology, by application and by geography.
By type: anti-corrosion, foul release, anti-fouling, anti-slip, primer, varnish, chemical resistant and others
By surfaces: concrete, fiberglass, metal and wood
By type of resins: acrylics, alkyds, epoxy, polyurethane and others
By technology: waterborne and solvent borne
By application: containers, cargo ships, offshore vessels, tankers and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Marine Coatings Market according to the IndustryARC research report are as follows:
- BASF SE (Germany)
- AkzoNobel NV (Europe)
- The Sherwin-Williams Company (U.S.)
- PPG Industries Inc.
- Nippon Paint Holdings Co., Ltd.
The Marine Coatings Market is a rapidly growing market with increasing use of marine equipment and machineries. This market is expected to witness high growth to secure the ships and vessels for military and oil & gas industry applications across the globe during 2015-2020.
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