Middle East & Africa Marine Coatings Market 2019: Industry Overview, Competitive Analysis & Forecast
May 8, 2019
Middle East & Africa Marine Coatings Market growth is propelled by increasing trends in industrial production, construction & infrastructure spending.
India - May 8, 2019 /MarketersMedia/ —
Graphical Research presents an extensive report on Middle East & Africa Marine Coatings Market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.
Trends in industrial production, construction & infrastructure spending, and consumer expenditure will drive the overall demand for marine coatings in the MEA region. The development is led by the United Arab Emirates (particularly Dubai and Abu Dhabi), Saudi Arabia, Oman and Qatar, where the region’s major ports and shipyards are located mainly for the purpose of ship building, repair, and engineering solutions, where marine coatings play a vital role in protecting the ships surface from deterioration and enhancing their shelf life. Thereby, flourishing the product demand, which will have positive impact on the MEA marine coatings market size in the coming years.
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Leisure boats are one of the fastest growing applications for marine coatings. Leisure boats include yachts, super yachts and cruise liners. Marine coatings offer protection as well as glossy finish to these applications. Demand for VOC free, low biocides and environment friendly marine coatings are gaining popularity among the customers, hence new trends are being employed by marine coatings manufacturers to achieve such specifications to comply with government norms. Thus, the increasing need for low emission coatings from the consumers is driving the MEA marine coatings market size by 2024.
Several councils across the world are suppressing the paints & coatings industry due to large-scale usage of toxic chemicals and VOC content. The US Environmental Protection Agency (EPA) and the European Union (EU) have set certain limits on volatile organic compounds in the marine coatings industry.
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Prolonged exposure to these can cause skin and pulmonary problems. Thus, various environmental regulations related to VOC emissions have a restraining effect on the marine coatings market size by 2024.
Anti-fouling coatings projected to be the fastest growing segment among anti-corrosion and foul release in the MEA marine coating market during the forecast spell. Growing shipbuilding and repair & maintenance activities in the region will likely to propel the marine coating market growth in the coming years.
Browse key industry insights from this 2018 report @ https://www.graphicalresearch.com/industry-insights/1106/middle-east-and-africa-marine-coatings-market
Based on application, the marine coating market size include coastal, containers, deep sea, offshore vessels, leisure boats, and others. Leisure boats demand is said to rise due to increasing disposable income of the population, High maintenance cost of yachts, leisure boats, cruise ships, etc. will propel the marine coatings market demand by 2024.
Key manufacturers in the marine coating market include giant multi-national players such as Akzo Nobel, Kansai Paint, DuPont, BASF SE, Sherwin-Williams, Hempel, Chugoku Marine Paints Ltd., Jotun, Nippon Paint, KCC Corporation, PPG Industries and MCU Coatings International.
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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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Website: https://www.graphicalresearch.com/industry-insights/1106/middle-east-and-africa-marine-coatings-market
Source: MarketersMedia
Release ID: 510099
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