China Marine Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Function (Anti-corrosion, Anti-fouling, Others), Resin (Epoxy, Polyurethane, Acrylic, Alkyd, and Others), Technology (Water-borne, Solvent-borne, and Others) and Application (Marine OEM, Marine Aftermarket)

Market Snapshot

China Marine Coatings Market Overview
Study Period: 2016 - 2026
Base Year: 2021
CAGR: >2 %
China Marine Coatings Market Major Players

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Market Overview

The China marine coatings market is expected to grow at a CAGR of more than 2% during the forecast period. One of the key factors driving is the high growth in the marine transportation sector along with the expansion of the Chinese navy. However, the impact of COVID-19 is expected to act as a restraint to the market.

Scope of the Report

The China Marine Coatings Market Report Includes:

By Function
By Resin
By Technology
By Application
Marine OEM
Marine Aftermarket

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Key Market Trends

Anti-fouling coatings are expected to dominate the market

  • Anti-fouling coatings are mainly used for hull and tank applications of which marine hull coatings hold a share of more than 75% in the marine antifouling coatings market.
  • Anti-fouling hull coating applications dominate the market studied, due to the increasing production of offshore ships, including passenger and cargo, along with offshore drilling activities.
  • These coatings are primarily applied to the under-water parts of a ship or yacht, to reduce the growth of the organisms and microbes in the parts attached to the hull. The coatings provide enhancement and durability, along with providing benefits, such as self-cleaning and graffiti resistance.
  • Their self-polishing resins and biocides, such as cuprous oxide, along with booster biocides, help prevent bio-fouling organisms. Overall Anti-fouling coatings are expected to dominate the marine coatings market Owing to the high volume requirement of foul resistance coatings for seafaring vessels.
China Marine Coatings Market Key Trends

Slow Down in OEM Coatings Segment

The marine vessel construction industry in China has experienced a slowdown in recent years as maritime trade lost momentum in 2018 owing to many reasons including a weakening multilateral trading system and growing protectionism. Chinese marine industry has started showing a recovery in late 2019, especially in the naval cruise market. However, COVID-19 has further affected the industry negatively in 2020. This resulted in the slowdown of new construction orders which has slowed down marine OEM coatings growth considerably in the short term. The aftermarket segment is expected to grow higher than the OEM segment owing to the increase in construction and repair activities. However, the OEM segment is expected to still retain the largest market share.

China Marine Coatings Market Growth Rate

Competitive Landscape

The market studied is consolidated in nature. Some of the key players in the market include Akzo Nobel N.V., Jotun, PPG Industries, Hempel A/S, NIPSEA GROUP, among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 High Growth of Marine Transportation Sector

      2. 4.1.2 Growth of Chinese Navy

    2. 4.2 Restraints

      1. 4.2.1 Impact of COVID-19 Outbreak

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 By Function

      1. 5.1.1 Anti-corrosion

      2. 5.1.2 Antifouling

      3. 5.1.3 Others

    2. 5.2 By Resin

      1. 5.2.1 Epoxy

      2. 5.2.2 Polyurethane

      3. 5.2.3 Acrylic

      4. 5.2.4 Alkyd

      5. 5.2.5 Others

    3. 5.3 By Technology

      1. 5.3.1 Water-borne

      2. 5.3.2 Solvent-borne

      3. 5.3.3 Others

    4. 5.4 By Application

      1. 5.4.1 Marine OEM

      2. 5.4.2 Marine Aftermarket


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel N.V.

      2. 6.4.2 Axalta Coating Systems

      3. 6.4.3 Chugoku Marine Paints, Ltd

      4. 6.4.4 Hempel A/S

      5. 6.4.5 Jotun

      6. 6.4.6 Kansai Paint Marine Co.,Ltd.

      7. 6.4.7 KCC CORPORATION.

      8. 6.4.8 NIPSEA GROUP

      9. 6.4.9 PPG Industries

      10. 6.4.10 RPM International, Inc.

      11. 6.4.11 The Sherwin-Williams Company

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The China Marine Coatings Market market is studied from 2016 - 2026.

The China Marine Coatings Market is growing at a CAGR of >2% over the next 5 years.

Akzo Nobel N.V., Jotun, PPG Industries, Hempel A/S, NIPSEA GROUP are the major companies operating in China Marine Coatings Market .

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