Marine Deck Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Marine Deck Coatings Market Analysis
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.
Marine Deck Coatings Market Trends
This section covers the major market trends shaping the Marine Deck Coatings Market according to our research experts:
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.
Marine Deck Coatings Industry Overview
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.
Marine Deck Coatings Market Leaders
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PPG Industries Inc
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Akzo Nobel NV
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Hempel A/S
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Jotun
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The Sherwin Williams Company
*Disclaimer: Major Players sorted in no particular order
Marine Deck 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
-
4.1 Drivers
- 4.1.1 Increasing Production of Leisure Boats & Cruise Ships
- 4.1.2 Increasing Shipbuilding Activities in Asia-Pacific
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4.2 Restraints
- 4.2.1 Regulations Regarding VOC
- 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 Technology
- 5.1.1 Water Borne
- 5.1.2 Solvent Borne
- 5.1.3 Others
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5.2 Type
- 5.2.1 New Build
- 5.2.2 Professional Maintenance
- 5.2.3 Do-it-Yourself (DIY)
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
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
-
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
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Marine Deck Coatings Industry Segmentation
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 | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Marine Deck Coatings Market Research FAQs
What is the current Marine Deck Coatings Market size?
The Marine Deck Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Marine Deck Coatings Market?
PPG Industries Inc, Akzo Nobel NV, Hempel A/S, Jotun and The Sherwin Williams Company are the major companies operating in the Marine Deck Coatings Market.
Which is the fastest growing region in Marine Deck Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Marine Deck Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Marine Deck Coatings Market.
What years does this Marine Deck Coatings Market cover?
The report covers the Marine Deck Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Marine Deck Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Marine Deck Coatings Industry Report
Statistics for the 2024 Marine Deck Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Marine Deck 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.
