Leisure Boat Marine Coatings Market: Future Demand, Market Analysis & Outlook to 2017 – 2024

Inherently influenced by leading-edge technologies in the coatings domain, leisure boat marine coatings market stands to gain much in the ensuing years, driven by escalating demand for luxury vessels in recent times. The Sherwin-Williams Company for instance, has recently prepped up its product portfolio to consolidate its presence across leisure boat marine coatings market. The firm’s SHW Protective & Marine Coatings unit launched the Zinc Clad 4100, a new high-solids coating that is inclusive of features such as short recoat time, which is slated to enable better project schedules, accelerated shop throughput, and quick field project turnarounds. Designed to be used exclusively for barges, ships, boats, drilling rigs, and refineries, the Zinc Clad 4100, as per experts, is likely to disrupt the product landscape of leisure boat marine coatings market. It is also prudent to mention that The Sherwin-Williams Company acquired Valspar, a Minnesota-headquartered paints and coatings major, toward the end of Q2 2017, for a valuation of more than USD 11 billion, thereby consolidating its presence in leisure boat marine coatings industry.

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Companies have brought forth a barrage of breakthroughs in coating technology, which has considerably influenced the revenue scale of leisure boat marine coatings market. A few years back, for example, Nanotech Marine Services Limited applied the Nano-Clear® Coating, produced by Nanovere Technologies, on Queen Elizabeth Ship in the UK as a part of its coating application trials. The main objective of the trial was to offer a durable solution for the gel-coat oxidation problem faced by lifeboats – apparently, the coatings on these boats faded away within a brief period due to constant exposure to UV radiations. As a part of its experiment, the company applied the new product on the gel-coated surface and left it aboard the water vessel. Surprisingly, the surface coated with Nano-Clear® did not exhibit any degradation in its color or glossiness features due to oxidation. The successful outcome led to Nanotech securing the lead for the restoration of eighteen Queen Victoria lifeboats, while simultaneously augmenting the popularity of the Nano-Clear® Coating in leisure boat marine coatings market. Recently, in 2016, the firm exploited this upgraded technology to complete the restoration of twenty-four lifeboats for the Queen Mary 2 in Hamburg, Germany as well.

Browse key industry insights spread across 130 pages with 85 market data tables & 10 figures & charts from the report, "Leisure Boat Marine Coatings Market Size By Product (Anti-Fouling, Anti-Corrosion, Foul Release), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/leisure-boat-marine-coatings-market

Speaking in terms of regional trends, North America is forecast to contribute more than 25% towards the overall leisure boat marine coatings industry size over the coming seven years. The presence of large coastal areas coupled with the numerous leisure boating activities taking place across the region can be principally credited for the growth of North America leisure boat marine coatings market, which, as per analysts, is set to record a CAGR of over 6.5% during 2017 to 2024. Canada and the U.S. are likely to emerge as the key revenue pockets for this region.

The Asia Pacific region would be particularly impelled on the grounds of the robustly expanding tourism sector in the region. Countries such as Japan, China, Australia, Hong Kong, Indonesia, Malaysia, and Thailand, famous as tourist destinations, have necessitated the demand for luxury ships and barges, which would help augment the regional leisure boat marine coatings industry.

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The competitive landscape of leisure boat marine coatings market is inclusive of biggies such as The Sherwin-Williams Company, Axalta Coating Systems, AkzoNobel N.V., and Nippon Paints. These behemoths have been striving to expand their product lines by manufacturing eco-friendly products while simultaneously improving their product performance. Global Market Insights, Inc., claims leisure boat marine coatings market size to cross a valuation of USD 1.9 billion by 2024.

Related Report:

Marine Coatings Market Size By Product (Anti-Fouling, Anti-Corrosion, Foul Release), By Application (Coastal, Containers, Deep Sea, Leisure Boats, Offshore Vessels), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/marine-coatings-market

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