Global yacht coatings market expected to surpass US $3 billion by 2019, says Technavio

Renewable energy


This market research report presents a detailed segmentation of the global yacht coatings market by application (antifouling coatings, fillers, primers, and finishes), by chemical type (epoxies, polyurethanes, and ethyl silicates), and by geography (Americas, APAC, and EMEA). Key vendors analyzed in the report are AkzoNobel, Jotun, and PPG.

Technavio’s market research analysts estimate the global yacht coatings market to grow at a CAGR of around 12% between 2015 and 2019. The rapid expansion of the oil and gas industry is primarily driving the growth of this market.  EMEA dominates the global market for yacht coatings, accounting for around 39% of the total market share. The growing awareness about the use of eco-friendly coating products is expected to create opportunities in the EMEA market during the forecast period.

The new market research report from Technavio provides a breakdown and analysis of the yacht coatings by technology.

“Emergence of new coating technologies is a significant trend gaining traction in this market. Vendors are coming up with marine coatings with superior adhesion on damp, marginally prepared surfaces, to save time and cost in terms of surface preparation.   Also, the manufacturers are trying to develop sustainable and eco-friendly antifouling coatings that eliminate the use of harmful toxins like copper, which have harmful effects on the marine system,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.

Epoxies dominate the yacht coatings market, covering 46% of the total market share. These coatings are widely used in the marine industry due to their chemical, abrasion and water-resisting properties. They are also extremely durable and have excellent adhesion to a variety of substrates.

Global yacht coatings market segmentation by chemical

Source: Technavio Research

The key vendors in the global yacht coatings market include AkzoNobel, Jotun, and PPG. These major vendors account for nearly 90% of the market share. The market is highly consolidated and competitive. Also, the consolidation among shipping companies has resulted in pricing pressure for manufacturers in the recent years.

A more detailed analysis is available in the Technavio report, Global Yacht Coatings Market 2015-2019.

We can customize reports by other regions and specific segments upon request.

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