Marine Coatings Market Research Report- Forecast to 2027

Marine Coatings Market Research Report: Resin Type (Epoxy, Alkyd, Polyurethane, Others), by Product Type (Anti-Corrosion Marine Coatings, Antifouling Coatings, Others), by Application (Cargo Ships, Passenger Ships, Boats, Others) & Forecast till 2027

ID: MRFR/CnM/3905-HCR | February 2021 | Region: Global | 139 pages

Marine coatings Market-Segmental Analysis:


The global marine coatings market is segmented into resin type, product type, and application. On the basis of the product type, the market is segregated into anti-corrosion marine coatings, antifouling coatings, and others. On the basis of resin type, the market is bifurcated into epoxy, alkyd, polyurethane, and others. The market by application industry is further categorized into cargo ships, passenger ships, boats, others.


Key Players:


Some of the prominent players operating in the global marine coatings market 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 SE (Germany) among others.


Synopsis of Marine Coatings Market:


Marine coatings are primarily used as protective coatings that are applied on the surface of vessels, cruises, yachts, oil rigs and bridges among others. These coatings are applied to protect against corrosion and fouling to enhance the shelf life of the offshore structures and marine vessels. Marine coatings protect the surfaces from damage caused by UV radiation above the waterline along with corrosion and fouling below the waterline. The price incurred during the treatment of corrosion in marine vessels are relatively much higher than the price of preventing it, hence the demand for marine coatings has been augmenting in the shipping and shipbuilding industries. Moreover, the ability of marine coatings in the prevention of corrosion also helps in the reduction of fuel consumption which is another factor contributing to the growth of the market.


Among the resin segments in marine coatings market, the polyurethane resin is the leading segment of the market and is anticipated to continue its dominance over the forecast period. The advantages of polyurethane resin such as environment-friendly nature, versatility, efficient corrosion and abrasion resistance, low-temperature flexibility, and impact strength make them ideal for the use in wide range of marine coating applications. Among the application segment cargo ships, is expected to register the highest growth during the forecast period. The growing use of cargo ships in international trade has augmented the use of marine coatings in this segment.


The Global Marine coatings Market Share by Application


 Marine coatings Market


Source: MRFR analysis


Regional Analysis:


The marine coatings market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the market and is expected to be the fastest growing region with an encouraging CAGR. The growing international trade from the region has augmented the demand for marine coatings which is a major factor driving the market growth in the region. Moreover, the emergence of China and India as a major shipping hub is further expected to add to the growth of the market. In addition to this, the growing energy requirement in the developing economies of the region has increased the oil and gas activities which in turn is augmenting the demand for marine coatings in the oil rigs and other offshore structures.


North America is another dominant region in the global market, exhibiting an expanding CAGR. The presence of the developed marine and oil & gas sector has augmented the demand for marine coatings in the region. Moreover, the shale gas boom coupled with the growing exports and imports in the region are other factors significantly contributing to the market growth. In addition to this, North America is one of the largest market for boats, cruise liners and yachts, hence, adding to the demand of marine coatings.


The European region is a lucrative market and is mainly driven by the growing international trade and oil and gas industry. The demand for vessels in the region is set to witness a significant growth owing to the growing international trade mainly in the U.K, Germany, and Italy which is also adding to the market growth. Moreover, the developed tourism industry in the region has surged the demand for cruise liners and yachts which in turn is expected to positively affect the market growth.


Latin America is expected to witness a moderate growth owing to the growing marine and energy sector. However, poor port infrastructure and complex trade laws are some of the major restraints of the Latin American market of marine coatings.


Geographical Analysis:


The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.


Intended Audience:



  • Marine coatings  market manufacturers

  • Traders and Distributors of marine coatings market

  • Production process industries

  • Potential investors

  • Raw material suppliers



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   Substantial Value
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Resin Type, Product Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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 SE (Germany)
  Key Market Opportunities   The growing international trade has augmented the demand for cargo ships
  Key Market Drivers

  • the ability of marine coatings in the prevention of corrosion also helps in the reduction of fuel consumption
  • the growing international trade and oil and gas industry


  • Frequently Asked Questions (FAQ) :


    The leading resin type used in the marine coatings industry is polyurethane.

    Cargo ships are the major application channel for the marine coatings market.

    Increasing attention being paid to marine maintenance is the major driver for the marine coatings market.

    Asia Pacific is the largest regional market due to the increasing international marine trade in the region.

    Leading players in the market include PPG, Jotun, and Sherwin-Williams, among others.

    TABLE OF CONTENTS

    1 Executive Summary

    2 Scope of the Report

    2.1 Market Definition

    2.2 Scope of the Study

    2.2.1 Research Objectives

    2.2.2 Assumptions & Limitations

    2.3 Markets Structure

    3 Market Research Methodology

    3.1 Research Resin Type

    3.2 Secondary Research

    3.3 Primary Research

    3.4 Forecast Model

    4 Market Landscape

    4.1 Porter’s Five Forces Analysis

    4.1.1 Threat of New Entrants

    4.1.2 Bargaining power of buyers

    4.1.3 Threat of substitutes

    4.1.4 Segment rivalry

    4.2 Value Chain/Supply Chain of Global Marine Coatings Market

    5 Industry Overview of Global Marine Coatings Market

    5.1 Introduction

    5.2 Growth Drivers

    5.3 Impact analysis

    5.4 Market Challenges

    6 Market Trends

    6.1 Introduction

    6.2 Growth Trends

    6.3 Impact analysis

    7. Global Marine Coatings Market by Product Type

    7.1 Introduction

    7.2 Anti-corrosion coatings

    7.2.1 Market Estimates & Forecast, 2020-2027

    7.2.2 Market Estimates & Forecast by Region, 2020-2027

    7.3 Antifouling coatings

    7.3.1 Market Estimates & Forecast, 2020-2027

    7.3.2 Market Estimates & Forecast by Region, 2020-2027

    7.4 Others

    7.4.1 Market Estimates & Forecast, 2020-2027

    7.4.2 Market Estimates & Forecast by Region, 2020-2027

    8. Global Marine Coatings Market by Resin Type

    8.1 Introduction

    8.2 Epoxy

    8.2.1 Market Estimates & Forecast, 2020-2027

    8.2.2 Market Estimates & Forecast by Region, 2020-2027

    8.3 Alkyd

    8.3.1 Market Estimates & Forecast, 2020-2027

    8.3.2 Market Estimates & Forecast by Region, 2020-2027

    8.4 Polyurethane

    8.4.1 Market Estimates & Forecast, 2020-2027

    8.4.2 Market Estimates & Forecast by Region, 2020-2027

    8.5 Others

    8.5.1 Market Estimates & Forecast, 2020-2027

    8.5.2 Market Estimates & Forecast by Region, 2020-2027

    9. Global Marine Coatings Market by Application

    9.1 Introduction

    9.2 Cargo ships

    9.2.1 Market Estimates & Forecast, 2020-2027

    9.2.2 Market Estimates & Forecast by Region, 2020-2027

    9.3 Passenger ships

    9.3.1 Market Estimates & Forecast, 2020-2027

    9.3.2 Market Estimates & Forecast by Region, 2020-2027

    9.4 Boats

    9.4.1 Market Estimates & Forecast, 2020-2027

    9.4.2 Market Estimates & Forecast by Region, 2020-2027

    9.5 Others

    9.5.1 Market Estimates & Forecast, 2020-2027

    9.5.2 Market Estimates & Forecast by Region, 2020-2027

    10. Global Marine Coatings Market by Region

    10.1 Introduction

    10.2 North America

    10.2.1 Market Estimates & Forecast, 2020-2027

    10.2.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.2.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.2.4 Market Estimates & Forecast by Application, 2020-2027

    10.2.5 U.S.

    10.2.5.1 Market Estimates & Forecast, 2020-2027

    10.2.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.2.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.2.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.2.6 Mexico

    10.2.6.1 Market Estimates & Forecast, 2020-2027

    10.2.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.2.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.2.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.2.7 Canada

    10.2.7.1 Market Estimates & Forecast, 2020-2027

    10.2.7.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.2.7.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.2.7.4 Market Estimates & Forecast by Application, 2020-2027

    10.3 Europe

    10.3.1 Market Estimates & Forecast, 2020-2027

    10.3.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.5 Germany

    10.3.5.1 Market Estimates & Forecast, 2020-2027

    10.3.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.6. France

    10.3.6.1 Market Estimates & Forecast, 2020-2027

    10.3.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.7 Italy

    10.3.7.1 Market Estimates & Forecast, 2020-2027

    10.3.7.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.7.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.7.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.8 Spain

    10.3.8.1 Market Estimates & Forecast, 2020-2027

    10.3.8.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.8.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.8.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.9 U.K

    10.3.9.1 Market Estimates & Forecast, 2020-2027

    10.3.9.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.9.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.9.4 Market Estimates & Forecast by Application, 2020-2027

    10.3.10 Rest of Europe

    10.3.10.1 Market Estimates & Forecast, 2020-2027

    10.3.10.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.3.10.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.3.10.4 Market Estimates & Forecast by Application, 2020-2027

    10.4 Asia Pacific

    10.4.1 Market Estimates & Forecast, 2020-2027

    10.4.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.4 Market Estimates & Forecast by Application, 2020-2027

    10.4.5 China

    10.4.5.1 Market Estimates & Forecast, 2020-2027

    10.4.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.4.6 India

    10.4.6.1 Market Estimates & Forecast, 2020-2027

    10.4.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.4.7 Japan

    10.4.7.1 Market Estimates & Forecast, 2020-2027

    10.4.7.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.7.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.7.4 Market Estimates & Forecast by Application, 2020-2027

    10.4.8 Australia

    10.4.8.1 Market Estimates & Forecast, 2020-2027

    10.4.8.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.8.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.8.4 Market Estimates & Forecast by Application 2020-2027

    10.4.9 New Zealand

    10.4.9.1 Market Estimates & Forecast, 2020-2027

    10.4.9.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.9.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.9.4 Market Estimates & Forecast by Application, 2020-2027

    10.4.10 Rest of Asia Pacific

    10.4.10.1 Market Estimates & Forecast, 2020-2027

    10.4.10.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.4.10.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.4.10.4 Market Estimates & Forecast by Application, 2020-2027

    10.5 The Middle East & Africa

    10.5.1 Market Estimates & Forecast, 2020-2027

    10.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.5.5 Turkey

    10.5.5.1 Market Estimates & Forecast, 2020-2027

    10.5.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.5.6 Israel

    10.5.6.1 Market Estimates & Forecast, 2020-2027

    10.5.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.5.7 North Africa

    10.5.7.1 Market Estimates & Forecast, 2020-2027

    10.5.7.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.7.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.7.4 Market Estimates & Forecast by Application, 2020-2027

    10.5.8 GCC

    10.5.8.1 Market Estimates & Forecast, 2020-2027

    10.5.8.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.8.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.8.4 Market Estimates & Forecast by Application, 2020-2027

    10.5.9 Rest of the Middle East & Africa

    10.5.9.1 Market Estimates & Forecast, 2020-2027

    10.5.9.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.5.9.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.5.9.4 Market Estimates & Forecast by Application, 2020-2027

    10.6 Latin America

    10.6.1 Market Estimates & Forecast, 2020-2027

    10.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.6.5 Brazil

    10.6.5.1 Market Estimates & Forecast, 2020-2027

    10.6.5.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.6.5.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.6.5.4 Market Estimates & Forecast by Application, 2020-2027

    10.6.6 Argentina

    10.6.6.1 Market Estimates & Forecast, 2020-2027

    10.6.6.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.6.6.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.6.6.4 Market Estimates & Forecast by Application, 2020-2027

    10.6.7 Rest of Latin America

    10.6.7.1 Market Estimates & Forecast, 2020-2027

    10.6.7.2 Market Estimates & Forecast by Product Type, 2020-2027

    10.6.7.3 Market Estimates & Forecast by Resin Type, 2020-2027

    10.6.7.4 Market Estimates & Forecast by Application, 2020-2027

    11. Company Landscape

    12. Company Profiles

    12.1 PPG Industries

    12.1.1 Company Overview

    12.1.2 Product Type/Business Segment Overview

    12.1.3 Financial Updates

    12.1.4 Key Developments

    12.2 AkzoNobel

    12.2.1 Company Overview

    12.2.2 Product Type/Business Segment Overview

    12.2.3 Financial Updates

    12.2.4 Key Development

    12.3 Hempel

    12.3.1 Company Overview

    12.3.2 Product Type/Business Segment Overview

    12.3.3 Financial Updates

    12.3.4 Key Developments

    12.4 Sherwin-Williams

    12.4.1 Company Overview

    12.4.2 Product Type/Business Segment Overview

    12.4.3 Financial Updates

    12.4.4 Key Developments

    12.5 Jotun

    12.5.1 Company Overview

    12.5.2 Product Type/Business Segment Overview

    12.5.3 Financial Updates

    12.5.4 Key Developments

    12.6 Chugoku Marine Paints

    12.6.1 Company Overview

    12.6.2 Product Type/Business Segment Overview

    12.6.3 Financial Updates

    12.6.4 Key Developments

    12.7 Nippon Paint

    12.7.1 Company Overview

    12.7.2 Product Type/Business Segment Overview

    12.7.3 Financial Updates

    12.7.4 Key Developments

    12.8 Kansai Paint

    12.8.1 Company Overview

    12.8.2 Product Type/Business Segment Overview

    12.8.3 Financial Updates

    12.8.4 Key Developments

    12.9 Axalta

    12.9.1 Company Overview

    12.9.2 Product Type/Business Segment Overview

    12.9.3 Financial Updates

    12.9.4 Key Developments

    12.10 BASF SE

    12.10.1 Company Overview

    12.10.2 Product Type/Business Segment Overview

    12.10.3 Financial Updates

    12.10.4 Key Developments

    13 Conclusion

    LIST OF TABLES

    Table 1 World Population by Major Regions (2020 To 2027)

    Table 2 Global Marine Coatings Market: By Region, 2020-2027

    Table 3 North America Marine Coatings Market: By Country, 2020-2027

    Table 4 Europe Marine Coatings Market: By Country, 2020-2027

    Table 5 Asia-Pacific Marine Coatings Market: By Country, 2020-2027

    Table 6 Middle East & Africa Marine Coatings Market: By Country, 2020-2027

    Table 7 Latin America Marine Coatings Market: By Country, 2020-2027

    Table 8 Global Marine Coatings by Product Type Market: By Regions, 2020-2027

    Table 9 North America Marine Coatings by Product Type Market: By Country, 2020-2027

    Table10 Europe Marine Coatings by Product Type Market: By Country, 2020-2027

    Table11 Asia-Pacific Marine Coatings by Product Type Market: By Country, 2020-2027

    Table12 Middle East & Africa Marine Coatings by Product Type Market: By Country, 2020-2027

    Table13 Latin America Marine Coatings by Product Type Market: By Country, 2020-2027

    Table14 Global Marine Coatings by Resin Type Market: By Regions, 2020-2027

    Table15 North America Marine Coatings by Resin Type Market: By Country, 2020-2027

    Table16 Europe Marine Coatings by Resin Type Market: By Country, 2020-2027

    Table17 Asia-Pacific Marine Coatings by Resin Type Market: By Country, 2020-2027

    Table18 Middle East & Africa Marine Coatings by Resin Type Market: By Country, 2020-2027

    Table19 Latin America Marine Coatings by Resin Type Market: By Country, 2020-2027

    Table20 Global Marine Coatings by Application Market: By Regions, 2020-2027

    Table21 North America Marine Coatings for Application Market: By Country, 2020-2027

    Table22 Europe Marine Coatings for Application Market: By Country, 2020-2027

    Table23 Asia-Pacific Marine Coatings for Application Market: By Country, 2020-2027

    Table24 Middle East & Africa Marine Coatings for Application Market: By Country, 2020-2027

    Table25 Latin America Marine Coatings for Application Market: By Country, 2020-2027

    Table26 Global Product Type Market: By Region, 2020-2027

    Table27 Global Resin Type Market: By Region, 2020-2027

    Table28 Global Application Market: By Region, 2020-2027

    Table29 North America Marine Coatings Market, By Country

    Table30 North America Marine Coatings Market, By Product Type

    Table31 North America Marine Coatings Market, By Resin Type

    Table32 North America Marine Coatings Market, By Application

    Table33 Europe: Marine Coatings Market, By Country

    Table34 Europe: Marine Coatings Market, By Product Type

    Table35 Europe: Marine Coatings Market, By Resin Type

    Table36 Europe: Marine Coatings Market, By Application

    Table37 Asia-Pacific: Marine Coatings Market, By Country

    Table38 Asia-Pacific: Marine Coatings Market, By Product Type

    Table39 Asia-Pacific: Marine Coatings Market, By Resin Type

    Table40 Asia-Pacific: Marine Coatings Market, By Application

    Table41 Middle East & Africa: Marine Coatings Market, By Country

    Table42 Middle East & Africa Marine Coatings Market, By Product Type

    Table43 Middle East & Africa Marine Coatings Market, By Resin Type

    Table44 Middle East & Africa: Marine Coatings Market, By Application

    Table45 Latin America: Marine Coatings Market, By Country

    Table46 Latin America Marine Coatings Market, By Product Type

    Table47 Latin America Marine Coatings Market, By Resin Type

    Table48 Latin America: Marine Coatings Market, By Application

    LIST OF FIGURES

    FIGURE 1 Global Marine Coatings market segmentation

    FIGURE 2 Forecast Methodology

    FIGURE 3 Five Forces Analysis of Global Marine Coatings Market

    FIGURE 4 Value Chain of Global Marine Coatings Market

    FIGURE 5 Share of Global Marine Coatings Market in 2020, by country (in %)

    FIGURE 6 Global Marine Coatings Market, 2020-2027,

    FIGURE 7 Sub segments of Product Type

    FIGURE 8 Global Marine Coatings Market size by Product Type, 2020

    FIGURE 9 Share of Global Marine Coatings Market by Product Type, 2020-2027

    FIGURE 10 Global Marine Coatings Market size by Resin Type, 2020

    FIGURE 11 Share of Global Marine Coatings Market by Resin Type, 2020-2027

    FIGURE 12 Global Marine Coatings Market size by Application, 2020

    FIGURE 13 Share of Global Marine Coatings Market by Application, 2020-2027