Salt water is a hostile agent that encourages corrosion of the ship hull. Moreover, without coating, it takes only 60 seconds for the unwanted organisms to settle on the hull of the boats and ships. Hence, marine paints and coatings are applied to commercial & military ships, fixed & floating marine structures such as offshore oil rigs, recreational boats, yachts and more to safeguard them from fouling and corrosion. One of the major factors owing to the growth of this industry includes expansion of oil & gas market. Additionally, increasing demand for marine coatings during ship repair and maintenance activities is yet another important reason for the upsurge in demand for marine coatings industry. Different areas of marine vessels such as above and below the waterline requires specifically formulated marine coatings. Eco-friendly products are highly preferred from the consumers in the marine coatings market. However, this market is subject to intense regulations.
The marine coatings market has been segmented into by type, type of resins, technology, application and geography exclusively. Based on the types of resins commercially available, the market is categorized in to various categories such as epoxy, acrylic, alkyds, polyurethane and others. Each type varies greatly and the composition is different with different technical specifications. Marine coating has a wide spectrum of application in Containers, Deep Sea, Cargo Ships, Offshore Vessels, Tankers and others. Each of the segmentations in the report has been studied to give comprehensive analysis of global marine coatings market. The overall market has also been consolidated from the perspective of different geographic locations into standard geographic regions and key economies for this market. Additionally, this report encompasses opportunity analysis, porter analysis, pricing analysis and market forces such as drivers, constraints and challenges that are involved to drive the overall market.
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. The market has been segmented in to four regions North America, Europe, Asia-pacific and Rest of the World. Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2014 are provided.
Sample Companies Profiled in this Report are:
- BASF SE (Germany),
- AkzoNobel NV (Europe),
- The Sherwin-Williams Company (U.S.)