MRO Magazine

Research and Markets: Yacht Coatings Market 2015-2019 – Consumer Preference for Eco-Friendly Products


October 27, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/sbj6dd/yacht_coatings) has announced the addition of the “Yacht Coatings Market 2015-2019” report to their offering.

The global yacht coatings market to grow at a CAGR of 11.76% during the forecast period.

The report covers the current scenario and the growth prospects of the global yacht coatings market for 2015-2019. To calculate the market size, the report considers revenue generated through sales of yacht coatings products. The report includes a discussion of the key vendors operating in this market.

Yacht coatings offer protection for yachts from hazards such as moisture, UV radiation, and microbes as well as enhance its appearance. Some of the major types of yacht coatings are anti-fouling coatings, fillers, primers, and finishes.

Over the years, the yacht coatings market has been experiencing continuous innovation, with functional benefits and eco-friendliness being the key points of focus for vendors. The development of yacht coatings targets customization that offer benefits such as self-cleaning characteristics and graffiti resistance, as well as customer satisfaction.

The increase in environmental regulations, along with the growing consumer preference for sustainable products, has compelled manufacturers to develop eco-friendly coatings. Manufacturers are focusing on the development of anti-corrosive and antifouling marine coatings that comply with environmental regulations and do not harm the marine system.

According to the report, strict regulations governing the shipbuilding industry and the increasing cost of maintaining yachts and marine equipment prompt ship-owners and drilling contractors to use antifouling coatings. Antifouling coatings increase the life of vessels, reduce fuel consumption, and enable compliance with environmental regulations. Asset owners in the marine infrastructure and natural gas industries implement extensive maintenance programs to increase the longevity of their assets, which drives the demand for yacht coatings.

Further, the report states that the growth of the shipbuilding industry is declining along with the decrease in the global order for ships. A major share of the global shipbuilding industry is running out of orders. The unavailability of shipping loans also hinders the growth of the shipbuilding industry.

The market is divided into the following segments based on chemistry:

  • Epoxies
  • Polyurethanes
  • Ethyl silicates
  • Others

Key vendors

  • AkzoNobel
  • Jotun
  • PPG

Other prominent vendors

  • Advanced Marine Coatings
  • Boero Bartolomeo
  • Chugoku Marine Paints
  • Engineered Marine Coatings
  • Hempel
  • Kansai Paint

For more information visit http://www.researchandmarkets.com/research/sbj6dd/yacht_coatings

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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Sector: Chemicals, Maritime, Paints and Coatings