The Global Hull Coatings Market has been estimated at USD 2.38 billion in 2015 and is projected to reach USD XX.XX billion by 2020, at a CAGR of 12.42% during the forecast period. Hull coatings also known as "anti-fouling coatings" are used primarily in applied to the part of the ships or yachts which are beneath the water to reduce the growth of the organisms and microbes present in the water bodies. The coatings provide enhancement and durability along with providing benefits such as self-cleaning and graffiti resistance.
Hull coatings, owing to their excellent adhesion and anti-corrosive properties, increased durability of hulls and aesthetic properties are becoming an integral part of the marine industry. In the hull coatings market report, the following major application sectors were taken into consideration: vessels and rigs. The rigs segment is the fastest-growing segment of the market and accounted for more than XX.XX% share of the global hull coatings market in 2015.
Market Dynamics of the Global Hull Coatings Market
- Huge demand from oil and gas industry
- Huge growth in the marine coatings market
- Growth in the rigs market
- Stringent government regulations
- Projected decline in the ship-building industry
The market has been geographically segmented into the US, United Kingdom, Italy, South Korea, the UAE, China, and the Rest of the World. In terms of consumption of hull coatings in 2015, China led the market with a share of XX.XX%. However, the lack of awareness about economic returns in China has considerably hindered the growth of this market.
Furthermore, the development of nano4 hull coating technologies will offer numerous opportunities for the growth of the global hull coatings market. Some of the major companies dominating this market for its products, services, and continuous product developments are:
- Market analysis for the global hull coatings market, with region specific assessments and competition analysis on a global and regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the global hull coatings market on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries/regions in which this industry is booming and to also identify the regions that are still untapped.
1.2 Research Methodology
1.3 Report Outline
2. Executive Summary
3. Market Overview
3.1 Current Market Scenario
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness Porters 5 Force Analysis
4. Market Dynamics
4.1.1 Huge Demand from Oil and Gas Industry
4.1.2 Technological Advancements
4.2.1 Stringent Government Regulations
4.2.2 Declining Shipbuilding Industry
4.3.1 Growth in the Rif Market
4.3.2 Increase in Consumer Awareness for Eco-friendly Products
5. Market Segmentation and Analysis
5.1 By Application
6. Regional Market Analysis (Market size, growth and forecast)
6.1.4 Rest of APAC
6.2.3 United Kingdom
6.2.4 Rest of Europe
6.3 North America
6.3.1 United States
6.4.1 Saudi Arabia
6.4.3 Rest of MEA
7. Competitive Landscape
7.1 Mergers & Acquisitions
7.2 Joint Ventures Collaborations and Agreements
7.3 Market Shares Analysis
7.4 Strategies Adopted by Leading Players
8. Company Profiles
8.1 Axalta Coatings System
8.2 Akzo Nobel
8.3 PPG Industries
8.6 Advanced Marine Coatings
8.8 Engineering Marine Coatings LLC
8.10 Chukogu Marine Paints
8.12 Boero Bartolomeo S.p.A