China Marine Coatings Market Growth Prospects and Outlook 2020-2025

By: X herald

The Global China Marine Coatings Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The China marine coatings market is expected to grow at a CAGR of more than 2% during the forecast period.

Top Companies in the Global China Marine Coatings Market are Akzo Nobel N.V., Jotun, PPG Industries, Hempel A/S, NIPSEA GROUP, and others.

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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.

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.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global China Marine Coatings market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global China Marine Coatings market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global China Marine Coatings market.

Market Segments: This part of the report discusses product type and application segments of the global China Marine Coatings market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approach China Marine Coatings used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

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Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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