Global Marine Coatings Market Size By Resins, By Product Type, By Geographic Scope And Forecast
Marine Coatings Market Size And Forecast
Marine Coatings Market was valued at USD 3.59 Billion in 2019 and is projected to reach USD 4.80 Billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Global Marine Coatings Market Outlook
Rise in infrastructure and construction project in emerging economics and increase in demand of high performance coating is fueling the market growth. Moreover, Marine coating not only prevents corrosion but also extends the life of marine equipments and constant need for repair and maintenance is driving the market growth of marine coating market. In addition, during naval transport biological fouling can corrode various part, these will leads to reduction in speed along with extra fuel so to prevent excess fuel consumption marine coating is used. On the other side stringent regulation by government on production due to environment concern is restricting the growth of market. Furthermore increase in the cost of copper and titanium oxide is restraining market growth. Nonetheless, various governments are looking forward to boost global sea trade and popularity of low emission coatings is expected to generate huge opportunities over the forecasted period.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Marine Coatings Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Marine Coatings Market Competitive Landscape
The Global Marine Coatings Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as 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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