Yacht Coatings Market - 2030| Akzo Nobel N.V (Europe), PPG Industries, Inc.(US), Jotun (Europe), Hempel A/S(Europe), Boero Bartolomeo S.p.A. (Europe)
Market Synopsis:
Yacht coatings
offer key advantages such as durability, finishing, and reparability. Increasing
water traffic is expected to boost the demand for these coatings in the
forthcoming years. In the latest study published by Market Research Future
(MRFR), the global yacht coatings market is anticipated to register a
double-digit CAGR of 12% over the review period 2016 to 2022. The market’s
valuation, by 2022, is expected to exceed USD 4 Bn in terms of revenue.
Yacht coatings
offer key advantages such as ultraviolet resistors, aliphatic urethane resins,
premier quality pigments, solvents, etc. These factors are expected to
accelerate revenue creation for the players of the yacht coatings market over
the next couple of years. Also, the rising inclination towards distinguished
appearance and looks is likely to encourage investment by the market players.
This, in turn, is prognosticated to catapult the yacht coatings market on
upward trajectory.
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Competitive Dashboard:
Akzo Nobel N.V (Europe), PPG Industries, Inc.(US), Jotun (Europe), Hempel
A/S(Europe), Boero Bartolomeo S.p.A. (Europe), Chugoku Marine Paints, Ltd
(Japan), Engineered Marine Coatings LLC (US), BASF SE (Germany), DuPont (US),
ALEXSEAL (Germany) are few of the prime players of the yacht coatings market
expected to play a crucial role towards revenue growth over the next couple of
years. Key players are focusing on product development and innovation for
capitalizing on the growth opportunities present in the market. In addition, investments
in facility expansion are further anticipated to favor the amplification of
competition in the global yacht coatings market in the years to come. Other
events that are prognosticated to enable the competitors in gaining an edge
over others are mergers & acquisitions, collaborations, partnerships, etc.
Investments in regional as well as facility expansion are anticipated to motivate
the competition among the market participants.
Increasing disposable income is anticipated to generate demand for luxurious yachts is projected to generate demand for these coatings in the years to come. In addition, the increasing production of yachts, especially in Europe region, is expected to play a crucial role in the proliferation of the global yacht coatings market across the projection period. The market is poised to exhibit more growth in developed economies. However, the developing economies are also projected to witness new avenues of growth to be explored by the market participants for profit maximization over the next few years.
Segmental Analysis:
The report covers a segmental analysis of the yacht coatings market
based on type and application.
On the basis of type, the global yacht coatings market has been
segmented into polyurethanes, epoxies, ethyl silicates, and others.
On the basis of application, the yacht coatings market has been segmented
into fairing, final priming & sealing, finishing, surfacing, topcoat care
& maintenance, specialty applications, hull, and others.
Regional Analysis:
The geographical
evaluation of the global yacht coatings market spans across North America,
Europe, Latin America, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Europe is dominating the global market at present and is expected to maintain
its prominence over the next couple of years. The boom witnessed in the marine
industry of the region is likely to lead the growth pace of the yacht coatings
market over the next couple of years. The strong economic growth of North
America is expected to unleash developmental opportunities for the key players
of the regional yacht coatings market. It is anticipated to hold the second
spot in the market place and exhibit substantial growth in the years to come. Asia
Pacific is prognosticated to witness moderate growth and retain the third spot
over the next few years followed by the Middle East & Africa and Latin
America.
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