Global Yacht Coatings Market

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Global Yacht Coatings Market

Global Yacht Coatings Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Bn. The report has covered region-wise market trends with a competitive landscape. The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Global Yacht Coatings Market

Global Yacht Coatings Market

 

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Yacht coatings are part of marine coatings, which offer functional and esthetical properties. Yacht coatings are enhancing the fuel efficiency of a vessel and decreasing the negative impact on the environment. This leads to an increase in research and development in the formulations and composition of these coatings.

Global Yacht Coatings Market Dynamics:

 

The global yacht coatings market is driven by the increasing production activities in the marine industry, rising disposable income of the population, and changing lifestyles in developing economies. The rising demand for innovative and distinguished looks and appearance for private yacht and the increasing number of sea transportation are fuelling the market growth in coming years. Also, the requirement to improve performance and lower emissions caused by yachts and luxury vessels are likely to propel the market growth in the upcoming period.

 

However, the high cost of yacht coatings, implementation of maritime regulations on emissions, and higher luxury taxes in the buying of yachts are projected to restrain the market growth over the forecast period. The increasing research and development in the formulation of coatings are creating lucrative opportunities in the global yacht coatings market growth over the upcoming period.

 

The antifouling coatings segment held the largest market share of XX% in 2019

 

The MMR report covers the detailed analysis of the global yacht coating market by resin, coating type, application and region.

 

Global Yacht Coatings Market1

 

Based on coating type, the antifouling coatings has led the global yacht coating market in 2019 and is expected to grow at a CAGR of 6.8% during the forecast period. Antifouling coatings are widely used to prevent the growth of marine organisms such as algae, tubeworms, barnacles, and mollusks, on the hull of a yacht in seawater. The growing demand for antifouling coating in hulls and underwater surfaces of shipping vessels as it provides smoothness and the superior polishing effect will boost the segment growth. Antifouling coatings provide excellent adhesion and anti-corrosive properties that help to increase the durability of hulls and their aesthetic properties. High demand from developing countries like Vietnam, the Philippines, India, South Korea, Saudi Arabia, and Mexico are likely to boost segment growth in the global yacht market.

 

In terms of revenue, Europe held the largest market share of XX% in 2019

 

Global Yacht Coatings Market2

 

Geographically, Europe held the dominant market share of XX% in 2019 and is expected to maintain its dominance during the forecast period thanks to the large production of the marine industry. Italy is a highly promising country for yacht coatings in Europe. Several countries in Western Europe have strong demand for yachts, and luxury boats are driving the demand for yacht coatings in the region.

 

North America accounted for the second-largest market share of XX% in 2019 and is expected to reach US$ XX Mn by the end of 2027, with a CAGR of XX%. The rising disposable income and economically developed countries in the region, which translates into higher purchasing power. Thus, sales of yacht and similar luxury items are high in North America. Developed countries, the U.S and Canada are the leading contributors to the regional market growth.

In terms of value, Asia Pacific is expected to grow at a CAGR of XX% during the forecast period thanks to the presence of a well-established tourism industry in these countries. The growing marine industry because of the availability of cheap & skilled labor, low manufacturing cost, major vessel manufacturers have established manufacturing facilities in the Asia Pacific, which is likely to propel the market growth.

 

The objective of the report is to present a comprehensive analysis of the Global Yacht Coatings Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Yacht Coatings Market dynamics, structure by analyzing the market segments and project the Global Yacht Coatings Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Yacht Coatings Market make the report investor’s guide.

Scope of the Global Yacht Coatings Market: Inquire before buying

 

Global Yacht Coatings Market, by Resin

 

  • Epoxies
  • Polyurethanes
  • Ethyl silicates
  • Others

Global Yacht Coatings Market, by Coating Types

 

  • Antifouling coatings
  • Foul-release coatings
  • Top coats
  • Propeller coatings
  • Varnishes & wood coatings
  • Others

Global Yacht Coatings Market, by Application

 

  • Fairing
  • Surfacing
  • Final priming & sealing
  • Finishing
  • Specialty applications
  • Topcoat care & maintenance
  • Hull
  • Others

Global Yacht Coatings Market, by Region

 

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East Africa

Global Yacht Coatings Market, Major Players

 

  • Akzo Nobel N.V
  • Jotun
  • PPG Industries, Inc.
  • Hempel A/S
  • Boero Bartolomeo S.p.A.
  • Chugoku Marine Paints, Ltd
  • Engineered Marine Coatings LLC
  • BASF SE
  • DuPont
  • Alexseal Yacht Coatings
  • Epifanes NA Inc
  • The Sherwin-Williams Company

For More Information Vist : https://www.maximizemarketresearch.com/market-report/global-yacht-coatings-market/83504/

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ommunications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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