Global marine coatings market is projected to register a formidable growth during the forecast period, 2023-2027. Marine coatings are applied to container ships, bulk carriers, passenger ships, cargo, etc. to protect them from corrosion degrades, which can significantly reduce the life of marine vessels and degrade their appearance over time. The growing disposable income of the population, increasing overall international trade which results in increasing the use of sea routes and increasing demand for marine coatings from emerging economies such as China and South Korea is expected to fuel the growth of the marine coatings market across the globe. Besides, enhanced focus of manufacturers on introducing product innovations that help to improve the fuel consumption coupled with the increasing ship repairing and overhaul demand is anticipated to fuel the growth of the global marine coatings market. Additionally, growing need for low fuel consumption and low emission coatings, and proliferating shipbuilding industry in Asia-Pacific are some of the factors boosting the growth of the global marine coatings market during the forecast period. Moreover, boost in the cruise travelling is creating a surge in demand for coatings used for repair and maintenance purposes, which in turn, is expected to positively influence the growth of the global marine coatings market in the coming years.
The global marine coatings market is segmented on the basis of resin, product type, application, and region. Based on application, the marine coatings market is classified into cargo ships, passenger ships, boats, and others. The passenger ships segment of the marine coatings market is projected to grow at the highest CAGR during the forecast period. Geographically, the Asia Pacific region is the largest market for marine coatings and is expected to continue leading the market till 2027.
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Some of the leading players in the global marine coatings market are Akzonobel, PPG Industries, Chugoku Marine Paints, Jotun, Sherwin-Williams, Hempel, Nippon Paint, Kansai Paint, BASF Coatings, Axalta, etc.
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Attribute
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Details
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, CAGR for
2017-2021 and 2022-2027
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Report coverage
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Revenue Forecast, Volume Forecast, Company
Share, Competitive Landscape, Growth Factors, And Trends
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Segments covered
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By Resin
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By Product Type
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By Application
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Region scope
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Asia Pacific; Europe & CIS; North
America; South America; Middle East & Africa
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Country scope
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China, India, Japan, South Korea, Australia, Singapore,
Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico,
Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar
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Key companies profiled
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Dymax Corporation, Henkel AG & Co
KgaA, H.B. Fuller Company, 3M Company, Evonik Industries AG, Dow Corning,
Alent Plc, BASF SE, The DOW Chemical Co., H.B. Fuller
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Customization scope
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10% free report customization with purchase.
Addition or alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the
editable version of the report in PPT/Word format on special request)
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