Yacht Coatings Market 2015-2019
About yacht coatings
Yacht coatings offer protection for yachts from hazards such as moisture, UV radiation, and microbes as well as enhance its appearance. Some of the major types of yacht coatings are anti-fouling coatings, fillers, primers, and finishes.Over the years, the yacht coatings market has been experiencing continuous innovation, with functional benefits and eco-friendliness being the key points of focus for vendors. The development of yacht coatings targets customization that offer benefits such as self-cleaning characteristics and graffiti resistance, as well as customer satisfaction.
Technavio forecast the global yacht coatings market to grow at a CAGR of 11.76% during the forecast period.
Covered in this report
The report covers the current scenario and the growth prospects of the global yacht coatings market for 2015-2019. To calculate the market size, the report considers revenue generated through sales of yacht coatings products.The market is divided into the following segments based on chemistry:
Technavio Announces the Publication of its Research Report – Global Yacht Coatings Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Yacht Coatings Market: AkzoNobel, Jotun and PPG
Other Prominent Vendors in the market are: Advanced Marine Coatings, Boero Bartolomeo, Chugoku Marine Paints, Hempel, Engineered Marine Coatings, and Kansai Paint.
Commenting on the report, an analyst from Technavio’s team said: “The increase in environmental regulations, along with the growing consumer preference for sustainable products, has compelled manufacturers to develop eco-friendly coatings. Manufacturers are focusing on the development of anti-corrosive and antifouling marine coatings that comply with environmental regulations and do not harm the marine system.”
According to the report, strict regulations governing the shipbuilding industry and the increasing cost of maintaining yachts and marine equipment prompt ship-owners and drilling contractors to use antifouling coatings. Antifouling coatings increase the life of vessels, reduce fuel consumption, and enable compliance with environmental regulations. Asset owners in the marine infrastructure and natural gas industries implement extensive maintenance programs to increase the longevity of their assets, which drives the demand for yacht coatings.
Further, the report states that the growth of the shipbuilding industry is declining along with the decrease in the global order for ships. A major share of the global shipbuilding industry is running out of orders. The unavailability of shipping loans also hinders the growth of the shipbuilding industry.
AkzoNobel, Jotun, PPG, Advanced Marine Coatings, Boero Bartolomeo, Chugoku Marine Paints, Hempel, Engineered Marine Coatings, Kansai Paint.