Japan Marine Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Marine Coatings Market Analysis
The Japan marine coatings market is expected to grow at a CAGR of more than 2% during the forecast period. One of the key drivers of the Japan marine coatings market is the government push to increase the number of new ship order with programs such as JOIN. However, the impact of COVID-19 is expected to act as a restraint to the market.
Japan Marine Coatings Market Trends
This section covers the major market trends shaping the Japan Marine Coatings Market according to our research experts:
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.
Slow Down is Expected in Marine OEM Coatings
The Shipbuilding industry has seen a decline in 2019 with negative growth in the number of orders received. According to the shipbuilding Association of Japan, the number of new orders has decreased to 296 in 2019 from about 344 in the previous year. This is expected to negatively affect the demand for the marine OEM coatings market in the country. The marine coatings market is further affected by the marine production stops due to lockdown owing to COVID-19. However, the Japanese government is pushing a new form of financing to get more ship orders on home soil. The shipbuilding industry is also expected to see some big mergers to stay competitive. Overall the demand for marine OEM coatings is expected to slow down in the next few years.
Japan Marine Coatings Industry Overview
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, Kansai Paint Marine CO.LTD, among others.
Japan Marine Coatings Market Leaders
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Akzo Nobel N.V.
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Jotun
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PPG Industries
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Hempel A/S
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Kansai Paint Marine Co.,Ltd.
*Disclaimer: Major Players sorted in no particular order
Japan Marine Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Government Push for Increased Ship Orders
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Impact of COVID-19 Outbreak
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
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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. MARKET SEGMENTATION
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5.1 By Function
- 5.1.1 Anti-corrosion
- 5.1.2 Antifouling
- 5.1.3 Others
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5.2 By Resin
- 5.2.1 Epoxy
- 5.2.2 Polyurethane
- 5.2.3 Acrylic
- 5.2.4 Alkyd
- 5.2.5 Others
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5.3 By Technology
- 5.3.1 Water-borne
- 5.3.2 Solvent-borne
- 5.3.3 Others
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5.4 By Application
- 5.4.1 Marine OEM
- 5.4.2 Marine Aftermarket
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akzo Nobel N.V.
- 6.4.2 Axalta Coating Systems
- 6.4.3 Chugoku Marine Paints, Ltd
- 6.4.4 Hempel A/S
- 6.4.5 Jotun
- 6.4.6 Kansai Paint Marine Co.,Ltd.
- 6.4.7 KCC CORPORATION.
- 6.4.8 NIPSEA GROUP
- 6.4.9 PPG Industries
- 6.4.10 RPM International, Inc.
- 6.4.11 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityJapan Marine Coatings Industry Segmentation
The Japan Marine Coatings Market Report Includes:
| By Function | Anti-corrosion |
| Antifouling | |
| Others | |
| By Resin | Epoxy |
| Polyurethane | |
| Acrylic | |
| Alkyd | |
| Others | |
| By Technology | Water-borne |
| Solvent-borne | |
| Others | |
| By Application | Marine OEM |
| Marine Aftermarket |
Japan Marine Coatings Market Research FAQs
What is the current Japan Marine Coatings Market size?
The Japan Marine Coatings Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Japan Marine Coatings Market?
Akzo Nobel N.V., Jotun, PPG Industries, Hempel A/S and Kansai Paint Marine Co.,Ltd. are the major companies operating in the Japan Marine Coatings Market.
What years does this Japan Marine Coatings Market cover?
The report covers the Japan Marine Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Marine Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Marine Coatings Industry Report
Statistics for the 2024 Japan Marine Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Marine Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
