U.S (New York)–The Report Ocean has recently published a new report titled Protective and Marine Coatings Market2023, which outlines the regional and global markets that are predicted to experience significant growth between 2023 and 2031. This extensive research delves deeply into the market’s ever-changing dynamics, value chain analysis, competitive landscapes, investment hotspots, geographical landscape, and significant segments, providing critical insights and valuable information for policymakers, stakeholders, investors, newcomers, and industry professionals. In addition, the report provides a comprehensive examination of the industry’s controls and restraints, as well as information on the global industry’s plans and opportunities. By utilizing this report, individuals in the industry can capitalize on emerging opportunities, develop key strategies, and gain a competitive edge over rivals.
The global protective & marine coatings market was valued at $18,437 million in 2016, and is expected to reach $31,047 million by 2023, registering a CAGR of 7.7% from 2017 to 2023. Protective & marine coatings are applied on buildings and homes. Architectural coatings include a wide range of paints & coatings, such as varnishes, lacquers, power coatings, primers, inks, and several others. They are applied to protect the surfaces from abrasion, moisture, and other harmful substances that can cause damage, that vanishes of the surface.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
In addition, they are known as heavy-duty or high-performance coatings, protective and marine coatings are applied on steel structures, steel bridges, off-shore oil rigs and equipment, chemical & petroleum plants, piping and other structures that require protection against corrosion and/or high resistance to wear & tear.
The global protective & marine coatings market is driven by the increase in infrastructure & construction projects in emerging countries, rise in demand for high performance, and environmentally friendly nature of protective coatings. However, strict environmental regulations on production and usage of protective coatings are expected to restrict the market growth in the future. The report segments global protective & marine coatings market based on resin type, end-use industry, and geography. The resin type, is classified into epoxy, polyurethane, acrylic, alkyd, polyester, and others. Based on end-use industry, it is divided into marine, oil & gas, industrial, construction, energy & power, transportation, and others. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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In 2015, Asia-Pacific occupied the highest market share, followed by North America, owing to the major growth in marine industry and infrastructural projects. Asia-Pacific is expected to dominate the global market by 2022, and is witnessing substantial growth in widely populated countries such as, China, Japan, and South Korea.
The significant players in the global protective & marine coatings market have strategically focused on product launch as their key strategy to gain significant market share.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the protective & marine coatings market.
In-depth analysis of the market is conducted and estimations for key segments between 2015 and 2023 are provided.
Global industry analysis for factors that drive and restrain the growth of the market are provided.
Protective & marine coatings market share for all segments with respect to geography is detailed in the report.
Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the industry trends.
The key players profiled in the report are as follows:
3M Co.
AkzoNobel N.V.
BASF SE
Hempel A/S
Kansai Paints Co., Ltd
Nippon Paints Co. Ltd.
PPG Industries, Inc.
The Sherwin-Williams Company
The Dow Chemical Company
Wacker Chemie AG.
Other players in the value chain include
Axalta Coating System Ltd.
Ashland Inc.
Clariant International Ltd.
Diamond Vogel Paints
Jotun A/S
RPM International, Inc.
Royal DSM N.V.
Solvay S.A.
Sono-Tek Corporation
KEY MARKET SEGMENTS
By Resin
Epoxy
Polyurethane
Acrylic
Alkyd
Polyester
Others
By End-use Industry
Marine
Oil & Gas
Industrial
Construction
Energy & Power
Transportation
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
Reasons for Buying Acetonitrile Market Report:
- This report gives a forward-looking prospect of various factors driving or restraining market growth.
- It renders an in-depth analysis for changing competitive dynamics.
- It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
- It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
- It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Market.
- This report helps the readers understand key product segments and their future.
- From 2022 to 2031, All Recent Developments have been covered in this Report.
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