Europe Marine Coatings Market expected to progress at 5.8% CAGR to 2025

Europe Marine Coatings Market Share is expected to expand significantly with more than 5% CAGR during the projected timeframe 2019-2025

India - October 9, 2019 /MarketersMedia/ —

According to the Graphical Research new growth forecast report titled “Europe Marine Coatings Market analysis based on Product, Application, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025”, estimated to exceed USD 2 billion by 2025. Sturdy demand for marine coating products to increase the vessel’s life by preventing it from bio fouling and corrosion will propel the Europe marine coating market size by 2025. For instance, many manufacturers in countries such as the UK, Belgium, Spain etc. are producing new coatings with foul-release technology that is useful in substantial fuel savings, especially for large cargo ships. Companies are developing eco-friendly coatings such as metal-free anti-fouling agents to help sustain the aquatic life and control the oceanic pollution, which would positively drive the Europe marine coating market size by 2025.

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Strict government policies against the use of toxic coatings and volatile product prices may become an obstacle in the growth of the Europe marine coating market size in the near future. However, increasing awareness for the use of eco-friendly coatings would profoundly augment the Europe marine coating market size in the forecast period.

Anti-fouling coatings accounted for more than 40% of the overall market size in 2017. It is applied to the underwater area of the vessel for better performance and durability. It acts as a barrier for the metal from marine organisms that degrade and weaken it. The coating helps in self-polishing the hull when the vessel travels. The self-polishing property of the coating would boost the product demand directly boosting the Europe marine coating market size by 2025.

Europe marine coating market size for leisure boats is projected to rise at a CAGR of more than 5.5% by 2025. Leisure boats demand is likely grow due to the growing disposable income of the population in Western Europe. These boats require a significant amount of maintenance which would improve the product demand in the region propelling the Europe marine coating market size in the near future.

Europe marine coating market size is likely to grow at a CAGR over 5% in the forecast timespan. Shipping is one of the most important mode of transport in the region. Approximately 90% of all goods come through various vessels such as food, cars, clothes, oil, gas, electrical appliances etc. It is one of the main industry to contribute in the EU’s overall GDP. Therefore, marine coating product possesses a significant amount of demand in the region which would augment the Europe marine coating market by 2025.

Europe marine coating market share is exceedingly consolidated, with prominent players accounting for over half of the total business size in 2017. The major players include Jotun Paints (Europe) Ltd, Akzo Nobel Coatings, SigmaKalon Group BV, BASF Coatings, ICI Paints, PPG Europe, Kuraray Europe GmbH, Sherwin Williams, Supreme Paints and Coatings and Sika.

Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1037/europe-marine-coatings-market

Segments we Cover:

Europe marine coating market, product by application
Anti-fouling coatings
Anti-corrosion coatings
Foul release coatings
Others

Europe marine coating market, by application
Coastal
Containers
Deep sea
Leisure boats
Offshore vessels
Others

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About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1037/europe-marine-coatings-market

Source URL: https://marketersmedia.com/europe-marine-coatings-market-expected-to-progress-at-58-cagr-to-2025/88926689

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Release ID: 88926689

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