GLOBAL MARINE COATINGS MARKET
Marine Coatings are used to protect ships, boats, tankers and other materials from saltwater or freshwater. Due to the fact that marine coatings have unique functional qualities, they can give greater protection to the surfaces on which they’re placed. As well as protecting boats, ships or yachts from sea water, this coating also protects submerged components from corrosion.
Corrosion pitting and bacterial corrosion are most likely to occur in a maritime environment As a result of marine corrosion, shipping vessels have a shorter lifespan than they otherwise would. Marine corrosion is a problem that costs billions of dollars a year to fix.
Corrosion-prevention measures must take place in a maritime environment, and coatings should be selected accordingly. In order to protect marine boats and other carriers above and below the waterline, marine coatings are designed with specific properties. Sealed surfaces are easy to maintain.
As a result, coatings created for this industry are particularly formulated for anti-fouling, anti-corrosion, and self-cleaning reasons. Recently, anti-fouling coatings, which are used to protect ships from harmful organisms, have been in high demand.
GLOBAL MARINE COATINGS MARKET DEVELOPMENTS AND INNOVATIONS
|S No||Overview of Development||Development Detailing||Region of Development||Possible Future Outcomes|
|1||New Selektope-powered antifouling paint launched by Chugoku Marine Paints to protect ships on global, high fouling risk routes||Leading hull coating manufacturer, Chugoku Marine Paints (CMP), has integrated the active antifouling agent, Selektope® in a new coating product developed for worldwide trading vessels.||China||This would enhance better Technologies and production|
|2||Nippon Paint Marine’s New Self-polishing Antifouling Paint Applied to 5 Bulk Carriers||Turkey’s Iskenderun Ship Management has provided the first reference for Nippon Paint Marine’s new self-polishing antifouling paint FASTAR following an agreement to apply the novel coating to five bulk carriers scheduled to drydock in China||China||This would help in better presence and social responsibility on increased levels of requirements|
GLOBAL MARINE COATINGS MARKET DYNAMICS
The Marine Coatings have been recently integrated with the global requirements and upcoming boat technologies being mobilised at various market dynamic requirements. Powerful acceleration, comfortable cruising speed and an extended range are the hallmarks of Inboard engines, getting you where you want to go in total comfort.
There is a known fact that China has become a big participant in shipbuilding, according to the research. In recent years, the marine coatings industry has grown as a result of the demand for fuel-saving and low-emission coatings. There is a benefit greatly from the expansion of shipbuilding industries throughout India, Vietnam, and Philippines over this time period. Market growth is expected to be hampered by the volatility of raw material costs, however.
Innovation and technical advancements in this area have been heavily influenced by the evolution of environmental legislation. The R&D has been extensively focused on modifying and developing new antifouling solutions that fulfil ship owners’ environmental standards. These new rules need antifouling chemicals that have fewer VOCs, greater solids, and less toxic biocides while also delivering excellent performance.
Efficiency, regulatory changes, and sustainability are amongst the current trends of the marine coatings market. In the maritime coatings industry, efficiency continues to be a driving force, but so do regulatory shifts and sustainability concerns. The IMO’s worldwide sulphur quota of 0.5 percent went into effect on Jan. 1, 2020, making it one of the most important environmental rules affecting the marine sector. As a result of these modifications, the maritime coatings sector has seen a 20 percent reduction in CO2 emissions between a low-performance coating and a premium solution.
GLOBAL MARINE COATINGS MARKET SEGMENTATION
The Global Marine Coatings Market can be segmented into following categories for further analysis.
By Boat / Ship Infrastructure Type
- Large Recreational Boats
- Small Recreational Boats
- Military Vessels
- Underwater Vessels
- On Water commercial Vessels
- High End Leisure Vessels
- Underwater Leisure Vessels
- Commercial Vessels
- Tanker Vessels
- Cargo Vessels
By Resin Type
By product Type
- Anti-Corrosion Marine Coatings
- Anti-fouling Coatings
By Regional Classification
- Asia Pacific Region – APAC
- Middle East and Gulf Region
- Africa Region
- North America Region
- Europe Region
- Latin America and Caribbean Region
RECENT MARKET TECHNOLOGICAL TRENDS IN GLOBAL MARINE COATINGS MARKET
The Marine Coatings have become a conglomerate based technological integration wherein the focus has been to have better control over emissions and other requirements being fulfilled at the same time through its continued levels of efficiency compliance. Marine coatings are waterproof, protective layers that are applied to surfaces exposed to or immersed in fresh, brackish, and/or salt water.
They are used with boats, ships, ferries, and other watercraft, as well as with marine structures such as offshore oil rigs. Sustainability, minimization of fuel consumption, air emissions and big data are key topics for the Marine Industry at the moment. It has most recently been into the Foul Release Technology initiation which provides better fuel savings and efficiency factors being kept into place.
There has been enhanced usage of Big Data Analytics in the industrial phase of requirements. The Proprietary based Hull Performance Analytics has been developed on the key grounds of Big Data Analytics. It gives Live and At Sea Performance Data on Hull and uses it to make decisions on vessel routings based on fouling challenge assessments. Biocidal antifouling are still important technologies and continue to have a place in a complete fouling control and Environmental Compliance as long as compliance with IMO and global environmental regulation and legislation is maintained
Global Marine Coatings Market has been focusing upon the environmental protection that is currently one of the absolute top criteria in numerous countries around the world. Legal limitations, as well as rising public awareness, result in a growing interest on the part of watercraft owners in electric propulsion systems characterized by increasingly stringent “zero-emission” levels.
Akzo Nobel has most recently introduced a special technology-based coating for better resistance and conscious sustainability in the operational environment. The Intersmooth 7670 SPC is a high performance and self-polishing polymer Antifouling class Coating paint. It is a patented copolymer technology to deliver a low friction surface with the added benefit of being TBT and copper-free. It has been specially developed for coastal waterways where vessels tend to operate at a slower pace with frequent static intervals in shallower waters.
Hempel which is one of the major conglomerates in the working industry of the Shipping Sector operating towards better coating requirements. It has recently got into the market, Hempaguard MaX which is Hull based coating solution. One of its most notable features is its unique three-coating solution for boats, which results in considerably less drag and significantly reduced fuel consumption over five years, as well as an eight percent increase in out-of-docking fuel savings. It is suitable for all vessel types and remains fully effective in both warm and cold water, and at slow and normal speed – including idle periods of up to 120 days.
- Jotun Industries
- Nippon Paints
- Berger Paints
- PPG Marine and Protective Coatings
- Sherwin Williams
- Kansai Paints
- BASF Coatings
- Chugoku Marine Paints
- Safinah Coatings and Marine
- Awlgrip Marine Paints and Coatings