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

The market is segmented by Technology (Water-Borne, Solvent Borne, and Others), Type (New Build, Professional Maintenance, and Do-it-Yourself), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

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Market Snapshot

Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

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.

Scope of the Report

The marine deck coatings market report includes:

Technology
Water Borne
Solvent Borne
Others
Type
New Build
Professional Maintenance
Do-it-Yourself (DIY)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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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.
Marine Deck Coatings Market Revenue Share

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.
Marine Deck Coatings Market Regional Trends

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.

Conc

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Production of Leisure Boats & Cruise Ships

      2. 4.1.2 Increasing Shipbuilding Activities in Asia-Pacific

    2. 4.2 Restraints

      1. 4.2.1 Regulations Regarding VOC

    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

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Water Borne

      2. 5.1.2 Solvent Borne

      3. 5.1.3 Others

    2. 5.2 Type

      1. 5.2.1 New Build

      2. 5.2.2 Professional Maintenance

      3. 5.2.3 Do-it-Yourself (DIY)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    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 NV

      2. 6.4.2 BASF SE

      3. 6.4.3 Beckers Group

      4. 6.4.4 Chugoku Marine Paints, LTD

      5. 6.4.5 Hempel A/S

      6. 6.4.6 Jotun

      7. 6.4.7 Kansai Paint Co.,LTD

      8. 6.4.8 KCC Corporation

      9. 6.4.9 Nippon Paint Co., Ltd.

      10. 6.4.10 PPG Industries Inc.

      11. 6.4.11 RPM International

      12. 6.4.12 The Sherwin Williams Company

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

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

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

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

PPG Industries Inc, Akzo Nobel NV, Hempel A/S, Jotun, The Sherwin Williams Company are the major companies operating in Marine Deck Coatings Market.

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