Market Overview:
The global offshore coating market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for offshore oil production platforms, dock storage tanks, and offshore wind power equipment. In addition, the growing demand for pipes and cables is also contributing to the growth of the market. North America dominates the global offshore coating market and is expected to continue its dominance during the forecast period.
Product Definition:
A coating which is applied to an offshore structure for the purpose of protecting it from corrosion.
Solvent Coating:
Solvent coating is a method of applying paint or color to a part by using a solvent as the binder. The most commonly used solvents are alcohols, glycol ethers, acetate esters and ketones.
The advantages of solvent coating include ease in application with excellent finish.
Water-Based Coating:
Water-based coating is a type of paint, which is made up of water and binders. It has low VOC content and contains no solvents. The product can be used in indoor as well as outdoor applications. Water-based coatings are gaining popularity over solvent-based coatings owing to the environmental regulations laid down by various regulatory bodies across the globe regarding VOC emissions into the atmosphere.
Application Insights:
The offshore oil production platform application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing investments by various governments in developing new offshore oilfields. For instance, Saudi Arabia has announced plans to invest USD 2030 billion over the next 15 years in expanding its offshore oil capacity from 10% currently to around 90%.
Offshore wind power equipment was one of the prominent applications witnessed during recent years owing to rapid advancements made possible through technological developments and innovations coupled with government initiatives such as feed-in tariff schemes that encourage investments for developing new wind energy projects off shore. However, other applications include sea bridge, pipelines & cables and others (ports).
Pipes & cables are expected to witness steady growth on account of their rising use across several industries including petrochemicals, LNG terminals.
Regional Analysis:
Asia Pacific offshore coatings market is expected to grow at the highest CAGR of XX% from 2018 to 2030 owing to increasing offshore oil and gas production in countries such as China, India, Indonesia, Malaysia and Vietnam. In addition, rising government initiatives for the development of marine infrastructure are anticipated to drive demand over the forecast period.
North America accounted for a volume share of 15.9% in 2017 owing to growing offshore oil production coupled with stringent regulations by regulatory bodies such as U S Coast Guard regarding pollution caused during land-based activities which is likely to hamper growth over the next eight years.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for offshore coatings from the oil and gas industry to protect assets and equipment against corrosion and degradation is expected to be a key growth driver for the offshore coatings market during the forecast period.
- The increasing popularity of floating production, storage, and offloading (FPSO) vessels is also projected to boost the demand for offshore coatings in the coming years.
- Rising investments in deepwater drilling activities are also anticipated to drive growth of the offshore coatings market over the forecast period.
- Growing concerns among operators about environmental regulations are expected to create opportunities for advanced coating technologies that can help reduce emissions from vessels operating in coastal areas. 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Coating Market Research Report
By Type
Solvent Coating, Water-Based Coating, Powder Coating
By Application
Offshore Oil Production Platform, Dock Storage Tank, Offshore Wind Power Equipment, Pipes And Cables, Sea Bridge, Other
By Companies
Akzo Nobel, Hempel, PPG Industries, Sherwin-Williams, Jotun, Chugoku Marine Paints, KCC Marine Coatings, RPM International, Nippon Paint, Kansai Paint, Luoyang SUNRUI Anti-Corrosion Engineering Technology Co., Ltd., Zhejiang Yutong New Materials Co., Ltd., Great Bridge, YUNG CHI PAINT
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
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Coating Market Report Segments:
The global Offshore Coating market is segmented on the basis of:
Types
Solvent Coating, Water-Based Coating, Powder Coating
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
Offshore Oil Production Platform, Dock Storage Tank, Offshore Wind Power Equipment, Pipes And Cables, Sea Bridge, Other
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:
- Akzo Nobel
- Hempel
- PPG Industries
- Sherwin-Williams
- Jotun
- Chugoku Marine Paints
- KCC Marine Coatings
- RPM International
- Nippon Paint
- Kansai Paint
- Luoyang SUNRUI Anti-Corrosion Engineering Technology Co., Ltd.
- Zhejiang Yutong New Materials Co., Ltd.
- Great Bridge
- YUNG CHI PAINT
Highlights of The Offshore Coating 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:
- Solvent Coating
- Water-Based Coating
- Powder Coating
- By Application:
- Offshore Oil Production Platform
- Dock Storage Tank
- Offshore Wind Power Equipment
- Pipes And Cables
- Sea Bridge
- Other
- 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 Offshore Coating 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?
Offshore coating is a type of paint that is applied to the exterior of a ship or boat. It is designed to protect the surface from weathering and corrosion.
Some of the key players operating in the offshore coating market are Akzo Nobel, Hempel, PPG Industries, Sherwin-Williams, Jotun, Chugoku Marine Paints, KCC Marine Coatings, RPM International, Nippon Paint, Kansai Paint, Luoyang SUNRUI Anti-Corrosion Engineering Technology Co., Ltd., Zhejiang Yutong New Materials Co., Ltd., Great Bridge, YUNG CHI PAINT.
The offshore coating 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 Offshore Coating 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 Offshore Coating Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Offshore Coating 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 Offshore Coating 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 Offshore Coating Market Size & Forecast, 2020-2028
4.5.1 Offshore Coating Market Size and Y-o-Y Growth
4.5.2 Offshore Coating Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Solvent Coating
5.2.2 Water-Based Coating
5.2.3 Powder Coating
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Offshore Oil Production Platform
6.2.2 Dock Storage Tank
6.2.3 Offshore Wind Power Equipment
6.2.4 Pipes And Cables
6.2.5 Sea Bridge
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Offshore Coating 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 Offshore Coating 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Solvent Coating
9.6.2 Water-Based Coating
9.6.3 Powder Coating
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 Market Size Forecast by Applications
9.10.1 Offshore Oil Production Platform
9.10.2 Dock Storage Tank
9.10.3 Offshore Wind Power Equipment
9.10.4 Pipes And Cables
9.10.5 Sea Bridge
9.10.6 Other
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Solvent Coating
10.6.2 Water-Based Coating
10.6.3 Powder Coating
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 Market Size Forecast by Applications
10.10.1 Offshore Oil Production Platform
10.10.2 Dock Storage Tank
10.10.3 Offshore Wind Power Equipment
10.10.4 Pipes And Cables
10.10.5 Sea Bridge
10.10.6 Other
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Solvent Coating
11.6.2 Water-Based Coating
11.6.3 Powder Coating
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 Market Size Forecast by Applications
11.10.1 Offshore Oil Production Platform
11.10.2 Dock Storage Tank
11.10.3 Offshore Wind Power Equipment
11.10.4 Pipes And Cables
11.10.5 Sea Bridge
11.10.6 Other
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Solvent Coating
12.6.2 Water-Based Coating
12.6.3 Powder Coating
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 Market Size Forecast by Applications
12.10.1 Offshore Oil Production Platform
12.10.2 Dock Storage Tank
12.10.3 Offshore Wind Power Equipment
12.10.4 Pipes And Cables
12.10.5 Sea Bridge
12.10.6 Other
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Solvent Coating
13.6.2 Water-Based Coating
13.6.3 Powder Coating
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) Market Size Forecast by Applications
13.10.1 Offshore Oil Production Platform
13.10.2 Dock Storage Tank
13.10.3 Offshore Wind Power Equipment
13.10.4 Pipes And Cables
13.10.5 Sea Bridge
13.10.6 Other
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 Offshore Coating Market: Competitive Dashboard
14.2 Global Offshore Coating Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Akzo Nobel
14.3.2 Hempel
14.3.3 PPG Industries
14.3.4 Sherwin-Williams
14.3.5 Jotun
14.3.6 Chugoku Marine Paints
14.3.7 KCC Marine Coatings
14.3.8 RPM International
14.3.9 Nippon Paint
14.3.10 Kansai Paint
14.3.11 Luoyang SUNRUI Anti-Corrosion Engineering Technology Co., Ltd.
14.3.12 Zhejiang Yutong New Materials Co., Ltd.
14.3.13 Great Bridge
14.3.14 YUNG CHI PAINT
