The report "Marine Coatings Market
by Resin (Epoxy, Alkyd, Polyurethane, Acrylic, Polyester, and
Fluoropolymer), Product Type (Anti-corrosion Coating, Antifouling
Coating), Applications (Cargo Ship, Passenger Ship, Boat), and Region -
Global Forecast to 2022", The marine coatings market is
projected to grow from USD 4.45 Billion in 2017 to USD 5.29 Billion by
2022, at a CAGR of 3.50% during the forecast period from 2017 to 2022.
Increasing demand for marine coatings from the shipbuilding industry in emerging economies such as China, India, and Brazil, is expected to fuel the growth of the marine coatings market across the globe.
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Increasing demand for marine coatings from the shipbuilding industry in emerging economies such as China, India, and Brazil, is expected to fuel the growth of the marine coatings market across the globe.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=234885004
Among resins, the polyurethane segment of the
marine coatings market is projected to grow at the highest CAGR during
the forecast period, in terms of value.
Among resins, the polyurethane segment of the marine
coatings market is projected to grow at the highest CAGR from 2017 to
2022, in terms of value. Polyurethane resins are versatile and
environment-friendly. They are available with different degrees of
rigidity and solid content. Polyurethane resins offer superior
properties such as high corrosion resistance, abrasion resistance,
impact strength, and low-temperature flexibility, which make them
suitable for various marine coating applications.
Among applications, the cargo ships segment
accounted for the largest share of the marine coatings market in 2016,
in terms of value.
Based on application, the cargo ships segment
accounted for the largest share of the marine coatings market in 2016,
in terms of value. The cargo ships are specifically structured to carry
large quantities of cargoes compressed in different types of containers.
In addition, the cost of transportation through water is substantially
lesser as compared to other modes of transportation. These factors are
expected to increase the demand for cargo ships, thereby leading to
increased demand for marine coatings.
The Asia Pacific marine coatings market is projected to grow at the highest CAGR during the forecast period, in terms of value.
The marine coatings market has been studied in North
America, Europe, Asia Pacific, South America, and the Middle East &
Africa. The Asia Pacific marine coatings market is projected to grow at
the highest CAGR during the forecast period, in terms of value. The
growth of the market in the Asia Pacific region can be attributed to
increased demand for marine coatings from various countries such as
China, India, and South Korea. Various countries of the Asia Pacific
region have expanded their ship manufacturing base, which, in turn, has
led to the growth of the Asia Pacific marine coatings market.
Key players operating in the marine coatings market
include PPG Industries (US), AkzoNobel (Netherlands), Hempel (Denmark),
Sherwin-Williams (US), Jotun (Norway), Chugoku Marine Paints (Japan),
Nippon Paint (Japan), Kansai Paint (Japan), Axalta (US), and BASF
Coatings (Germany).
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