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Marine Deck Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 120 Pages
  • April 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4542932
The market for marine deck coatings is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied is increasing production of leisure boats & cruise ships, increasing shipbuilding activities in Asia-Pacific
  • On the flip side, regulations regarding VOC is likely to hinder the market.
  • Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.

Key Market Trends

Water-Borne to Dominate the Market
  • Water-borne paints and coatings market is estimated to witness the fastest growth during the forecast period.
  • The major reason for its gain over solvent-borne is because of its environment-friendly nature, as it is generally lower in volatile organic compounds (VOC’s), which degrade the environment.
  • Also, other properties, like low odor, more durability, and block resistance make water-borne paints more preferable.
  • The increasing environment-friendly nature and the versatile properties of water-borne coatings are increasing the demand for water-borne coatings across Europe and Asia-Pacific.
  • All the above factors are likely to increase the demand for the market over the forecast period.

Asia-Pacific Region to Dominate the Market
  • Asia-Pacific is expected to hold a major share of more than 70% in terms of revenue, with China dominating the market.
  • China is expected to hold the largest share of the market in Asia-Pacific.
  • The major reason for the same being the friendly policies related to the market by the government and also the availability of skilled labor at a cheap rate. China is followed by South Korea and Japan. \
  • For instance, South Korea is the home to some of the major ship building companies in the world, such as Hyundai Heavy Industries Group, STX Group, DSME, and many others. Apart from this, the country also has a supportive government that invites investment from various foreign markets for the betterment of the shipping industry.
  • All such factors are likely to increase the demand for the market over the forecast period.

Competitive Landscape

The marine deck coatings market is partially consolidated. Major players include PPG Industries Inc, Akzo Nobel NV, Hempel A/S, and Jotun, and The Sherwin Williams Company, among others.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Production of Leisure Boats & Cruise Ships
4.1.2 Increasing Shipbuilding Activities in Asia-Pacific
4.2 Restraints
4.2.1 Regulations Regarding VOC
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Technology
5.1.1 Water Borne
5.1.2 Solvent Borne
5.1.3 Others
5.2 Type
5.2.1 New Build
5.2.2 Professional Maintenance
5.2.3 Do-it-Yourself (DIY)
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel NV
6.4.2 BASF SE
6.4.3 Beckers Group
6.4.4 Chugoku Marine Paints, LTD
6.4.5 Hempel A/S
6.4.6 Jotun
6.4.7 Kansai Paint Co.,LTD
6.4.8 KCC Corporation
6.4.9 Nippon Paint Co., Ltd.
6.4.10 PPG Industries Inc.
6.4.11 RPM International
6.4.12 The Sherwin Williams Company

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Akzo Nobel NV
  • Beckers Group
  • Chugoku Marine Paints, LTD
  • Hempel A/S
  • Jotun
  • Kansai Paint Co.,LTD
  • KCC Corporation
  • Nippon Paint Co., Ltd.
  • PPG Industries Inc.
  • RPM International
  • The Sherwin Williams Company