Floating Docks Market offers good growth opportunities post COVID-19

AUG09,2022/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Floating Docks Market.

The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Floating docks market is likely to witness an impressive CAGR of 6.8% during the forecast period

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Segment Analysis

By Coating Type

Based on the coating type, the market is segmented as PE and PVDF. The PVDF segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. It helps to protect the exposed part of building or other applications from external weather conditions and retains its gloss and color for long time.

By Property Type

Based on the property type, the market is segmented as fire-resistant, antibacterial, and anti-static. The fire-resistant segment is expected to remain dominant during the forecast period owing to people shifting their preferences to build fire proof buildings.

By Application Type

Based on the application type, the floating docks market is segmented as building & construction, advertising, and transportation. The building & construction segment leads the market owing to rise in population and increasing spending power of people, which is giving rise to construction of new houses in the urban and sub-urban areas, globally. Further, rise in the construction of non-residential buildings and institutes is also a major reason for dominance of this segment.

By Composition Type

Based on the composition type, the market is segmented as surface coating, core material, metal skin, and rear skin. The core material segment is expected to remain the most dominant as well as the fastest-growing segment during the forecast period due to its excellent fire-resistant property, for which it is highly preferred in the building & construction application.

By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing floating docks market during the forecast period, with China, Japan, India, and Australia being the major countries offering promising growth opportunities. The growth of the region’s market is attributed to the increasing per capita income of the emerging economies, extensive growth of the construction industry in the region, and presence of a large number of floating dock manufacturers. Further, the floating docks market is mainly driven by increase in population and rise in construction of residential and non-residential buildings.

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