** U.S (New York) According to Report Ocean recently released its “Protective and Marine Coatings Market ” Research Report for the years 2023-2032. This report conducts an extensive examination of the market, delving deep into its dynamics, encompassing crucial trends, emerging technologies, driving forces, challenges, and regulatory measures. In addition, it provides insights into the strategies and profiles of key industry players. Comprising over 100+ data tables, pie charts, graphs, and figures, this market study offers a comprehensive understanding of the market landscape. It delivers a thorough evaluation, encompassing future trends, current growth drivers, expert perspectives, factual insights, and industry-validated market data, all of which contribute to precise forecasts extending until 2032.
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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Who is the largest manufacturers of Protective and Marine Coatings Market Worldwide ?
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
Has there been any international intervention to address the Russia-Ukraine War?
Minsk Agreements: The Minsk Agreements are a set of ceasefire agreements aimed at resolving the conflict in Eastern Ukraine. They were negotiated through the Organization for Security and Cooperation in Europe (OSCE) with the involvement of Russia, Ukraine, and representatives of the self-proclaimed Donetsk and Luhansk People’s Republics. These agreements have been a centerpiece of diplomatic efforts, but they have not led to a comprehensive resolution of the conflict.
Normandy Format: The Normandy Format is a diplomatic group involving the leaders of Ukraine, Russia, Germany, and France. This format has been used to facilitate negotiations and discussions aimed at resolving the conflict, but it has faced numerous challenges and has not resulted in a lasting peace settlement.
OSCE Monitoring Mission: The Organization for Security and Cooperation in Europe (OSCE) has deployed a Special Monitoring Mission (SMM) to Ukraine. This mission’s purpose is to monitor the security situation, report on violations, and facilitate dialogue between the conflicting parties.
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Sanctions: Many Western countries, including the United States and the European Union, imposed economic sanctions on Russia in response to its actions in Ukraine. These sanctions were intended to put economic pressure on Russia and encourage a diplomatic solution.
United Nations: The United Nations has been involved in various ways, including efforts to facilitate humanitarian assistance and providing a forum for international discussions on the conflict.
Humanitarian Aid: Various international organizations and countries have provided humanitarian assistance to people affected by the conflict in Ukraine.
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.
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.
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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.
Key Market Segments:
By Resin
Epoxy
Polyurethane
Acrylic
Alkyd
Polyester
Others
By End-use Industry
Marine
Oil & Gas
Industrial
Construction
Energy & Power
Transportation
Others
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 Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
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What are the goals of the report?
- The predicted market size for the Market Industry at the conclusion of the forecast period is shown in this market report.
- The paper also analyses market sizes in the past and present.
- The charts show the year-over-year growth (percent) and compound annual growth rate (CAGR) for the given projected period based on a variety of metrics.
- The research contains a market overview, geographical breadth, segmentation, and financial performance of main competitors.
- The research evaluates the current situation of the industry in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, as well as future growth opportunities.
- The study examines the future period’s growth rate, market size, and market worth.
PEST Factors:
Political Factors:
- Identification of government policies and political groups that may impact business success.
- Assessment of political environment stability and potential for changes.
- Evaluation of upcoming local, state, or national elections and their potential influence on government policies.
- Analysis of key contenders for power and their stance on trade policies affecting the organization.
- Examination of property rights, rule of law, corruption, and organized crime levels, along with potential future changes and implications.
- Consideration of pending legislation and tax changes that could affect the business positively or negatively.
- Review of business regulations and potential changes, and identification of trends towards regulation or deregulation.
- Examination of government stance on corporate policies, corporate social responsibility, environmental issues, and customer protection legislation, and potential impacts.
- Estimation of the timeline for proposed legislative changes.
- Identification of other potential political factors that could bring about change.
Economic Factors:
- Anticipation of future economic influences on the business.
- Evaluation of current economic performance and its immediate effects.
- Analysis of how economic factors impact prices, income, and costs.
- Assessment of economic stability – growth, stagnation, or decline.
- Consideration of stability or fluctuations in key exchange rates.
- Examination of trends in customers’ disposable income levels and predictions for the future.
- Evaluation of unemployment rates and ease or difficulty in building a skilled workforce.
- Analysis of access to credit for consumers and businesses and its potential effects on the organization.
- Consideration of globalization’s impact on the economic environment.
- Identification of additional economic factors worth considering.
Social Factors:
- Examination of customer beliefs and values and their influence on purchasing behaviors.
- Analysis of cultural trends and human behaviors affecting the business.
- Assessment of population growth rates, age profiles, and likelihood of changes.
- Consideration of generational attitude shifts and their potential impact.
- Evaluation of health, education, and social mobility levels in society, along with changing trends and implications.
- Examination of employment patterns, labor market trends, and age-specific work attitudes.
- Analysis of relevant social attitudes, taboos, and recent socio-cultural changes.
- Consideration of the influence of religious beliefs and lifestyle choices on the population.
- Identification of other sociocultural factors with the potential to drive change.
Technological Factors:
- Assessment of current and emerging technological advances and innovations.
- Evaluation of technology’s impact on business operations.
- Identification of new technologies currently being used or considered for implementation.
- Anticipation of potentially disruptive technologies on the horizon.
- Analysis of competitors’ access to new technologies that could redefine products.
- Examination of focus areas for government and educational institution research, with potential opportunities for the business.
- Assessment of how changes in infrastructure have affected work patterns (e.g., remote work levels).
- Identification of existing technology hubs for potential collaboration and learning.
- Consideration of other relevant technology-related factors.
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