Marine Coatings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Marine Coatings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The marine coatings market has experienced robust growth in recent years, expanding from $4.94 billion in 2023 to $5.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to regulatory environment, economic conditions, consumer preferences, competitive landscape, global events have historically influenced the market.
Strong Future Growth Anticipated
The marine coatings market is projected to continue its strong growth, reaching $6.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to demographic trends, growing environmental concerns, market innovation, growing supply chain optimization, changing consumer values are anticipated drivers.
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Growth Driver Of The Marine Coatings Market
Rising sea levels are expected to propel the growth of the marine coatings market going forward. Sea levels refer to the average height of the ocean's surface measured along a specific shoreline, commonly used as a baseline for various geographic and environmental assessments. Marine coatings are used in protecting structures against corrosion and fouling in sea levels, contributing to the longevity and performance of maritime infrastructure.
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Major Players And Market Trends
Key players in the marine coatings market include PPG Industries Limited, Akzo Nobel N.V., The Sherwin-Williams Company, Hempel A/S, Jotun, Nippon Paint Marine Coatings Co. Ltd.
Product innovations are a key trend gaining popularity in the marine coating market. Major companies operating in the marine coating market are focusing on developing new products to sustain their position in the market.
Segments:
1) By Product: Anti-Fouling Coatings, Anti-Corrosion Coatings, Foul Release Coatings, Other Products
2) By Resin: Epoxy, Polyurethane, Acrylic, Alkyd, Other Resins
3) By Technology: Water-Borne, Solvent-Borne, Other Technologies
4) By Application: Coastal, Containers, Deep Sea, Leisure Boats, Offshore Vessels, Other Applications
5) By End-Use: New Ships, Repair Work
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the marine coatings market in 2023. The regions covered in the marine coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Marine Coatings Market Definition
Marine coating refers to a particular kind of protective coating that acts as a barrier between the water and the substrate to shield it from harm. It is used to shield ships, boats, tankers, and other materials from saltwater or freshwater.
Marine Coatings Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Marine Coatings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on marine coatings market size, marine coatings market drivers and trends, marine coatings market major players, marine coatings competitors' revenues, marine coatings market positioning, and marine coatings market growth across geographies. The marine coatings market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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