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Marine Deck Coatings Market Size (2024 - 2029)

The marine deck coatings market is anticipated to experience significant growth, driven by the rising production of leisure boats and cruise ships, along with increased shipbuilding activities, particularly in the Asia-Pacific region. This region leads in market consumption, with countries like India and China at the forefront. However, the market expansion may face challenges due to regulations concerning volatile organic compounds (VOC).

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Market Size of Marine Deck Coatings Industry

market snapshot grapgh
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

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*Disclaimer: Major Players sorted in no particular order

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 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
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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Marine Deck Coatings Market Size Summary

The marine deck coatings market is poised for significant growth, driven by the increasing production of leisure boats and cruise ships, alongside heightened shipbuilding activities in the Asia-Pacific region. This growth trajectory is supported by the rising demand for water-borne paints and coatings, which are favored for their environmentally friendly properties, such as lower volatile organic compounds, low odor, and enhanced durability. These attributes are particularly appealing in regions like Europe and Asia-Pacific, where there is a strong emphasis on sustainable solutions. However, the market faces challenges from stringent regulations concerning volatile organic compounds, which could potentially impede its expansion.

Asia-Pacific is anticipated to maintain a dominant position in the marine deck coatings market, accounting for a substantial share of the global revenue, with China leading the charge. The region's growth is bolstered by favorable government policies and the availability of cost-effective skilled labor, particularly in China, South Korea, and Japan. South Korea's prominence in the shipbuilding industry, with major companies like Hyundai Heavy Industries Group and STX Group, further supports the market's expansion. The competitive landscape is partially consolidated, with key players such as PPG Industries Inc, Akzo Nobel NV, Hempel A/S, Jotun, and The Sherwin Williams Company playing significant roles in shaping market dynamics.

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Marine Deck Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Production of Leisure Boats & Cruise Ships

      2. 1.1.2 Increasing Shipbuilding Activities in Asia-Pacific

    2. 1.2 Restraints

      1. 1.2.1 Regulations Regarding VOC

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology

      1. 2.1.1 Water Borne

      2. 2.1.2 Solvent Borne

      3. 2.1.3 Others

    2. 2.2 Type

      1. 2.2.1 New Build

      2. 2.2.2 Professional Maintenance

      3. 2.2.3 Do-it-Yourself (DIY)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East & Africa

Marine Deck Coatings Market Size FAQs

The Marine Deck Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

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.

Marine Deck Coatings Report Snapshots

Marine Deck Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)