Market Overview:
The global marine paints market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for refurbished boats and new boats across regions. In terms of type, the varnish segment is expected to lead the global marine paints market during the forecast period, followed by topcoat and antifouling paint segments. The primer segment is projected to grow at a higher CAGR than other segments during the forecast period.
Product Definition:
Marine paints are those paints that are specifically designed for use on boats and other watercraft. Marine paints are formulated to resist the corrosive effects of salt water and to provide good protection against fading and chipping. They also typically have a higher gloss than standard exterior paints, which helps to reduce the visibility of scratches and blemishes.
Varnish:
Varnish is a thin coating, which when applied over paints or any other protective coating increases its shelf life and acts as an anti-scaling agent. It also helps in increasing the hardness of the surface on which it is applied. Varnishes are available in different forms such as liquid, powder and paste among others.
Topcoat:
Topcoat is a thin layer of paint applied over the primer to enhance its performance and protect it from water, UV rays, chemicals & heat. It also provides additional protection to the underlying paint. Topcoats are used in various applications such as boats, yachts or ships for protecting them from harsh environments such as marine growth & salt air.
Application Insights:
The new boat application segment accounted for the largest revenue share of over 40% in 2017. The growth is attributed to the rising demand from end-users who are mostly enthusiasts and recreational users of the sea. New boats require a fresh coat of paint every two years owing to exposure to UV rays, saltwater, and sand particles which acts as a natural abrasive on the surface creating scratches on the hull. Marine paints act as an effective solution against this damage by protecting hulls from abrasion while providing easy cleaning ability after each outing.
Refurbished boat application is expected to be one of fastest growing segments at a CAGR exceeding 6% during forecast period owing to increasing utilization in countries such as U.S.
Regional Analysis:
Asia Pacific was the largest market in 2016 and is expected to continue its dominance over the forecast period. The region accounts for more than 50% of global production and consumption of marine paints. Increasing demand from countries such as China, India, South Korea, Japan among others is anticipated to drive growth over the next eight years.
China emerged as a major consumer in this region owing to increasing foreign investments coupled with rising disposable income of consumers along with rapid urbanization has been fueling growth in construction sector which includes residential and non-residential buildings which will further boost product demand. In addition, growing trade activities between Asia Pacific countries are expected to open new avenues for manufacturers operating within this region or those who would like their products exported through these routes thereby driving industry expansion over the coming years.
Growth Factors:
- Increasing demand for marine paints from the shipping and boat-building industries as a result of the growth in global trade.
- The increasing popularity of recreational boats and yachts, which is driving demand for marine paints with better aesthetics and performance properties.
- The increasing use of composites and other advanced materials in boat construction, which is leading to the need for specialized coatings that can protect these materials from corrosion and degradation.
- Regulatory changes mandating the use of specific types of coatings or paint systems in order to meet environmental protection standards.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Paints Market Research Report
By Type
Varnish, Topcoat, Antifouling Paint, Primer, Others
By Application
Refurbished Boat, New Boat
By Companies
AkzoNobel, Chugoku Marine Paints, Ltd., Jotun, Epifanes Yacht Coatings, SEAJET, Hempel, Stoppani(Lechler), Veneziani Yachting, Pettit Marine Paint, Sea Hawk, AkzoNobel, Boero YachtCoatings, De IJssel Coatings, NAUTIX
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
223
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Marine Paints Market Report Segments:
The global Marine Paints market is segmented on the basis of:
Types
Varnish, Topcoat, Antifouling Paint, Primer, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Refurbished Boat, New Boat
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AkzoNobel
- Chugoku Marine Paints, Ltd.
- Jotun
- Epifanes Yacht Coatings
- SEAJET
- Hempel
- Stoppani(Lechler)
- Veneziani Yachting
- Pettit Marine Paint
- Sea Hawk
- AkzoNobel
- Boero YachtCoatings
- De IJssel Coatings
- NAUTIX
Highlights of The Marine Paints Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Varnish
- Topcoat
- Antifouling Paint
- Primer
- Others
- By Application:
- Refurbished Boat
- New Boat
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Paints Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine paints are a type of paint specifically designed for use on boats. They are made with a higher concentration of solvents and thinner than traditional paints, which allows them to be more easily applied and less likely to chip or peel. Marine paints are also resistant to salt water and other elements that can damage paintwork on boats.
Some of the major players in the marine paints market are AkzoNobel, Chugoku Marine Paints, Ltd., Jotun, Epifanes Yacht Coatings, SEAJET, Hempel, Stoppani(Lechler), Veneziani Yachting, Pettit Marine Paint, Sea Hawk, AkzoNobel, Boero YachtCoatings, De IJssel Coatings, NAUTIX.
The marine paints market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Paints Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Paints Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Paints Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Paints Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Paints Market Size & Forecast, 2018-2028
4.5.1 Marine Paints Market Size and Y-o-Y Growth
4.5.2 Marine Paints Market Absolute $ Opportunity
Chapter 5 Global Marine Paints Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine Paints Market Size Forecast by Type
5.2.1 Varnish
5.2.2 Topcoat
5.2.3 Antifouling Paint
5.2.4 Primer
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Paints Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine Paints Market Size Forecast by Applications
6.2.1 Refurbished Boat
6.2.2 New Boat
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Paints Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Paints Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine Paints Analysis and Forecast
9.1 Introduction
9.2 North America Marine Paints Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine Paints Market Size Forecast by Type
9.6.1 Varnish
9.6.2 Topcoat
9.6.3 Antifouling Paint
9.6.4 Primer
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine Paints Market Size Forecast by Applications
9.10.1 Refurbished Boat
9.10.2 New Boat
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine Paints Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Paints Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine Paints Market Size Forecast by Type
10.6.1 Varnish
10.6.2 Topcoat
10.6.3 Antifouling Paint
10.6.4 Primer
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine Paints Market Size Forecast by Applications
10.10.1 Refurbished Boat
10.10.2 New Boat
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine Paints Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Paints Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine Paints Market Size Forecast by Type
11.6.1 Varnish
11.6.2 Topcoat
11.6.3 Antifouling Paint
11.6.4 Primer
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine Paints Market Size Forecast by Applications
11.10.1 Refurbished Boat
11.10.2 New Boat
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine Paints Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Paints Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine Paints Market Size Forecast by Type
12.6.1 Varnish
12.6.2 Topcoat
12.6.3 Antifouling Paint
12.6.4 Primer
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine Paints Market Size Forecast by Applications
12.10.1 Refurbished Boat
12.10.2 New Boat
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine Paints Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Paints Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine Paints Market Size Forecast by Type
13.6.1 Varnish
13.6.2 Topcoat
13.6.3 Antifouling Paint
13.6.4 Primer
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine Paints Market Size Forecast by Applications
13.10.1 Refurbished Boat
13.10.2 New Boat
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Paints Market: Competitive Dashboard
14.2 Global Marine Paints Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AkzoNobel
14.3.2 Chugoku Marine Paints, Ltd.
14.3.3 Jotun
14.3.4 Epifanes Yacht Coatings
14.3.5 SEAJET
14.3.6 Hempel
14.3.7 Stoppani(Lechler)
14.3.8 Veneziani Yachting
14.3.9 Pettit Marine Paint
14.3.10 Sea Hawk
14.3.11 AkzoNobel
14.3.12 Boero YachtCoatings
14.3.13 De IJssel Coatings
14.3.14 NAUTIX
