omkar abhang

Marine Coatings Market to Witness Comprehensive Growth by 2025

Press Release   •   Jan 19, 2018 02:16 EST

The global marine coatings market, which is consolidated on account of a handful of top players accounting for a significant share in it, has been growing at a healthy clip – a trend it is likely to retain in the near future as well. Keen players in the market are focused on product development and usually bank upon a wide array of products to cater to the specific demands of the client.

Read Report Overview @

https://www.transparencymarketresearch.com/marine-coatings.html

Some of the prominent players in the global marine coatings market are Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, Hempel A/S, Chugoku Marine Paints Ltd., and Sherwin-Williams Company.

As per a report by Transparency Market Research, the global marine coatings market will, in probabilities, expand at a CAGR of 6.1% between 2017 and 2025. Rising at this pace, the market which was worth US$8.53 bn in 2015, is predicted to reach a value of US$14.52 bn by 2025.

Some of the key products in the global marine coatings market are anti-fouling coatings, foul release coatings, anti-corrosion coatings, etc. The anti-fouling coatings, among them, which provide protection to vessels and ships from fouling organisms and slime, accounted for a leading share in the market in 2016. Rise in ship repair and maintenance activities that require anti-fouling coatings is expected to stoke their demand in the near future.

At the forefront of driving demand in the global marine coatings application, is their deep-sea application which protects ships from harsh weather conditions and improves their appearance. “The marine industry comprises of bulk tankers and carriers, cargo ships, cruise ships and container ships. Marine coatings play a crucial role in increasing fuel efficiency of vessels and hence bring down fallout on the environment. The new shipbuilding industry has been experiencing sluggish growth of late. However, rising demand for marine coatings during ship repair and maintenance activities is likely to boost market growth during the forecast period,” explains the lead analyst of the TMR report.

Request to view Sample Report:

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=902

The ever expanding oil and gas industry, more extensive usage of coatings to make sure the long-term security of the marine assets, and the enforcing of the IMO ballast tank coating norms, have all contributed significantly to the global marine coatings market. Further, customer preference and strict government policies regarding eco-friendly products is lending a considerable hand in boosting product innovation. Researchers and manufacturers are now focusing on developing anti-fouling metal-free coating which will not negatively impact the marine life. However, slow growth of the ship building industry is expected to be a restraining factor for the growth of the overall market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com