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Global Marine Coatings Market 2017-2021

Global Marine Coatings Market 2017-2021

About Marine Coatings

A coating is a layer of a substance that is spread over a surface to protect it from damaging elements in its environment as well as to improve its appearance. Coatings differ in their production methods, applications, and functionalities. The conventional functions of protection and aesthetics are often integrated and extended to meet additional and more specific demands. On the basis of end-use, the coatings are segmented into three major categories: architectural and decorative coatings, industrial coatings, and special purpose coatings. Within these categories, there is a wide variety not only in terms of the properties that the coatings themselves possess but also in terms of the purposes they serve, the technologies used to manufacture them, and the methods used to apply them.

Technavio’s analysts forecast the global marine coatings market to grow at a CAGR of 7.46% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global marine coatings market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of marine coatings from various derivative types.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Marine Coatings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Akzo Nobel
  • Chugoku Marine Paints
  • Hempel
  • Jotul
  • PPG Industries
Other prominent vendors
  • BASF
  • KANSAI PAINT
  • KCC CORPORATION
  • NIPPON PAINT MARINE COATING
  • RPM International
  • The Sherwin-Williams Company
Market driver
  • Growth of shipbuilding industry
  • For a full, detailed list, view our report
Market challenge
  • Fluctuating raw material prices
  • For a full, detailed list, view our report
Market trend
  • Shift toward green marine coatings
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Marine Coatings Market 2017-2021

Technavio recognizes the following companies as the key players in the global marine coatings market: Akzo Nobel, Chugoku Marine Paints, Hempel, Jotun, and PPG Industries

Other Prominent Vendors in the market are: BASF, KANSAI PAINT, KCC CORPORATION, NIPPON PAINT MARINE COATING, RPM International, and The Sherwin-Williams Company.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Shift toward green marine coatings. A number of environmental regulations have been reinforced recently, and shipping companies are showing more interest in increasing sailing efficiency. Marine coatings not only need to maintain existing quality and efficiency but also need to include environment-friendly effects in order to survive in the market. A number of marine coatings contain chemicals that are harmful to the marine flora and fauna. Anti-corrosion coatings that contain benzene and zinc introduce chemicals in the marine environment. Strict regulations have been implemented specifically for the use of harmful chemicals to safeguard the marine environment. A number of R&D activities are being carried out to find environment-friendly alternatives to these harmful chemicals. It is expected that in the coming years, no biocide anti-fouling coatings will enter the market.”

According to the report, one of the major drivers for this market is Growth of shipbuilding industry. The shipbuilding industry is a major consumer of the global marine coatings market. The growth of shipbuilding industry was very low till 2010. After 2010, it has shown rapid growth mainly because of the growth in increasing global foreign direct investment (FDI) flows, seaborne trade, and expanding multinational companies' businesses. New ship manufacturing and an increase in the repair and maintenance of old ships are the major growth drivers for the global marine coatings market.

Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. Fluctuating prices of raw materials used to manufacture marine coatings pose a major challenge to marine coatings manufacturers. Benzene, toluene, ethylene, and naphthalene are the major raw materials used to produce anti-corrosion coatings. These raw materials are extracted from crude oil, and the prices of these raw materials are dependent on the prices of natural gas and crude oil. Owing to the demand-supply instabilities and the unpredictable political situation in the Middle East, there has always been a higher volatility in the prices of crude oil in the foreign markets. These instabilities, in turn, increase the prices of these petrochemical derivatives. The manufacturers of anti-corrosion coatings, therefore, cannot plan and produce accordingly due to the fluctuating raw material prices.

Companies Mentioned

Akzo Nobel, Chugoku Marine Paints, Hempel, Jotun, PPG Industries, BASF, KANSAI PAINT, KCC CORPORATION, NIPPON PAINT MARINE COATING, RPM International, and The Sherwin-Williams Company.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market overview
      • Table Global marine coatings market overview
    • Market size and forecast
      • Table Global marine coatings market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type
    • Global marine coatings market by type
      • Table Global marine coatings market by type 2016
      • Table Global marine coatings market by type 2021
      • Table Global marine coatings market by type 2016-2021 (% share)
    • Global marine coatings market by anti-corrosion coatings
      • Table Global marine coatings market by anti-corrosion coatings 2016-2021 ($ millions)
      • Table Global anti-corrosion coatings market by end-user 2016
    • Global marine coatings market by anti-fouling coatings
      • Table Global marine coatings market by anti-fouling coatings 2016-2021 ($ millions)
      • Table Composition of anti-fouling paints (%)
      • Table Global anti-fouling coatings market by application 2016
    • Global marine coatings market by other coatings
      • Table Global marine coatings market by other coatings 2016-2021 ($ millions)
  • Market segmentation by chemistry
    • Global marine coatings market by chemistry
      • Table Global marine coatings market by chemistry 2016 (%)
      • Table Global marine coatings market by chemistry 2021 (%)
      • Table Global marine coatings market by chemistry 2016-2021 (% share)
    • Global marine coatings market by epoxy
      • Table Global marine coatings market by epoxy 2016-2021 ($ millions)
    • Global marine coatings market by polyurethane
      • Table Global marine coatings market by polyurethane 2016-2021 ($ millions)
    • Global marine coatings market by other chemistry
      • Table Global marine coatings market by other chemistry 2016-2021 ($ millions)
  • Market segmentation by application
    • Global marine coatings market by application
      • Table Global marine coatings market by application 2016 (%)
      • Table Global marine coatings market by application 2021 (%)
      • Table Global marine coatings market by application 2016-2021 (% share)
    • Global marine coatings market by coastal
      • Table Global marine coatings market by coastal 2016-2021 ($ millions)
    • Global marine coatings market by deepsea
      • Table Global marine coatings market by deepsea 2016-2021 ($ millions)
    • Global marine coatings market by containers
      • Table Global marine coatings market by containers 2016-2021 ($ millions)
    • Global marine coatings market by offshore site
      • Table Global marine coatings market by offshore site 2016-2021 ($ millions)
    • Global marine coatings market by leisure boats
      • Table Global marine coatings market by leisure boats 2016-2021 ($ millions)
    • Global marine coatings market by other applications
      • Table Global marine coatings market by other applications 2016-2021 ($ millions)
  • Regional landscape
    • Global marine coatings market by geography
      • Table Global marine coatings market by geography (%)
      • Table Global marine coatings market by geography 2016
      • Table Global marine coatings market by geography 2021
    • Regional comparison
      • Table Regional comparison
    • APAC – market size and forecast
      • Table APAC – market size and forecast 2016-2021 ($ millions)
      • Table APAC – Year-over-year growth 2017-2021 (%)
      • Table Percentage share of new orders in the shipbuilding industry in APAC 2016
    • EMEA – market size and forecast
      • Table EMEA – market size and forecast 2016-2021 ($ millions)
      • Table EMEA – Year-over-year growth 2017-2021 (%)
      • Table Percentage share of new orders in the shipbuilding industry in Europe 2016
    • Americas – market size and forecast
      • Table Americas – market size and forecast 2016-2021 ($ millions)
      • Table Americas – Year-over-year growth 2017-2021 (%)
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global shipbuilding market 2016-2021 ($ billions)
      • Table International seaborne trade by volume 2011-2016 (metric million tons)
    • Market challenges
      • Table Price fluctuations of Brent crude oil 2005-2016 ($/barrel)
      • Table Prices of copper May 2016-May 2017 ($/Kg)
  • Market trends
    • Shift toward green marine coatings
      • Table VOC regulations on marine coatings
    • Increasing use of antioxidants in marine coatings
    • Emergence of bio-based technology for marine coatings
    • Regulations on emission levels
  • Vendor landscape
    • Competitive scenario
      • Table Global marine coatings market by company 2016 (% share of revenue)
    • Key market vendors
      • Table Key vendors in global marine coatings market 2016
    • Other prominent vendors
  • Key vendor analysis
    • Akzo Nobel
      • Table Akzo Nobel: Business segmentation by revenue 2016
      • Table Akzo Nobel: Geographical segmentation by revenue 2016
      • Table Akzo Nobel: Business segments
    • Chugoku Marine Paints
      • Table Chugoku Marine Paints: Geographical segmentation by revenue 2016
      • Table Chugoku Marine Paints: Geographical segmentation by revenue for marine coatings 2016
    • Hempel
      • Table Hempel: Business segmentation
      • Table Hempel: Geographical segmentation by revenue 2016
      • Table Hempel: Sub-segments under marine business segment
      • Table Hempel: Categories of anti-fouling product range
      • Table Hempel: Products under different anti-fouling technologies
    • Jotun
      • Table Jotun: Business segmentation by revenue 2016
      • Table Jotun: Geographical segmentation by revenue 2016
      • Table Jotun: Industries and sub-segments of anti-fouling products
    • PPG Industries
      • Table PPG Industries: Business segmentation by revenue 2016
      • Table PPG Industries: Businesses segmentation
      • Table PPG Industries: Geographical segmentation by revenue 2016
      • Table PPG Industries: Marine coatings products
  • Appendix
    • List of abbreviations
  • Explore Technavio

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