Global marine coatings market will register substantial expansion over the forecast of 2021-2027. The rapidly expanding shipbuilding industry and the emergence of ship repair and maintenance activities across the globe will propel the demand for marine coatings in the foreseeable future. Flourishing sea trade and the proliferating requirement for low emission and fuel-saving coatings will augment the marine coatings industry forecast in the forthcoming years.

These coatings offer surface protection from corrosion, abrasion, and impact and maintain the longevity of the vessels, ships, tankers, and other materials. This, along with increasing R&D activities and investment by major marine coatings companies for new product innovation, will push the industry growth over the forecast period.

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The sudden breakout of the pandemic had a profound impact on the marine coatings market during 2020. Recurring temporary lockdowns across major economies halted the maintenance activities in several dry dock locations due to stringent restrictions on non-essential industrial operations. Strict health and safety guidelines by the government hampered the inspection activities of vessels and tankers by operators and owners slowed down the industry expansion.

Scarcity and high prices of raw materials impeded the production and manufacturing operations. In addition, halted sea trade and imposition of trade restrictions impacted the marine coatings market share due to the ongoing pandemic.

However, industry players are adopting necessary growth tactics to ensure future sustainability. Alongside easing out of lockdown and trade restrictions and supportive government norms will help the industry to recover from the pandemic shortly and register substantial progression in the coming years.

As per a study by Global Market Insights Inc., the marine coatings industry will record a valuation of over $6 Bn by 2027.

The report features a detailed analysis of major segments of the marine coatings market based on product, end-user, application, and region.

By Product

  • Anti-corrosion coatings
  • Anti-fouling coatings
  • Foul release coatings
  • Other

By End Users

  • Repair Work
  • New Ships
  • By Application
  • Containers
  • Coastal
  • Deep sea
  • Offshore vessels
  • Leisure boats
  • Other

By Region

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East and Africa

Some of the promising players of the marine coatings market include Jotun A/S, Akzo Nobel N.V., Hempel A/S, Kansai Paint Co. Ltd., Chugoku Marine Paints, Ltd, NipponPaint Co., PPG Industries, Sherwin-Williams Company, KCC Corporation, and RPM International.

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Marine anti-fouling coatings market will fuel the industry trends.

Anti-fouling coatings are applied to the outer surface of the hull of the ships and are specialized to facilitate the detachment from any sub-aquatic organism that can impede the performance and durability of a vessel. These coatings prevent the degradation and weakening of hull metal by acting as a barrier against corrosion and also improve the flow of water through the fishing vessel or racing yacht. These, in covalence with the growing product innovation and R&D, will support the progression of the marine coatings market size over the projection period.

For instance, in January 2022, Chugoku marine paints announced the launch of SEAFLO NEO SL M, ultra-low friction, hydrolysis antifouling coating with the integration of the latest silyl methacrylate antifouling technology.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.