What is the anticipated global market size for marine coatings?
The marine coatings market has enjoyed substantial growth in recent years. The data shows that it grew from $5.24 billion in 2024 to $5.56 billion in 2025, demonstrating an impressive compound annual growth rate (CAGR) of 6.1%. The historic market growth is attributed to a conducive regulatory environment, favourable economic conditions, evolving consumer preferences, and a competitive landscape, along with the impact of global events.
Forecasts for the marine coatings market predict continued strong growth. The market is poised to reach $7.2 billion by 2029, with a compound annual growth rate (CAGR) projected at 6.7%. This anticipated growth is driven by demographic trends, rising environmental concerns, market innovation, increased supply chain optimization, and shifting consumer values. Key trends expected to shape the future of the market include enhanced corrosion protection coatings, the rise of silicone-based coatings, antimicrobial coatings for biosecurity, the integration of graphene in coatings, and coatings designed for fuel efficiency.
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What are the key drivers of the marine coatings market growth?
The marine coatings market is significantly propelled by growing sea trade activities. Marine coatings are highly efficient for combating ships’ corrosion while submerged in water. They also fend off moisture and reduce hydrodynamic drag, leading to improved ship efficiency. Therefore, the increase in sea trade activities translates directly into increased demand for marine coatings. As an example, data from Eurostat, the Luxembourg-based government agency, reported that the gross weight of seaborne goods in the European Union reached 893.97 million tonnes in Q2 2022, up from 851.28 million tonnes in Q2 2021, boosting the demand for marine coatings.
Which are the key segments in the marine coatings market?
The marine coatings market captured in this report has been segmented by:
1) Product: Anti-Fouling Coatings, Anti-Corrosion Coatings, Foul Release Coatings, Other Products
2) Resin: Epoxy, Polyurethane, Acrylic, Alkyd, Other Resins
3) Technology: Water-Borne, Solvent-Borne, Other Technologies
4) Application: Coastal, Containers, Deep Sea, Leisure Boats, Offshore Vessels, Other Applications
5) End-Use: New Ships, Repair Work
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Which major companies are operating in the marine coatings market?
Key players in the marine coatings market include PPG Industries Limited, Akzo Nobel N.V., The Sherwin-Williams Company, Hempel A/S, Jotun, Nippon Paint Marine Coatings Co. Ltd., Axalta Coating Systems, RPM International Inc., Boero YachtCoatings, Kansai Paint Co. Ltd., KCC Corporation, Chugoku Marine Paints Ltd., Pettit Paints, General Coatings Manufacturing Corp., Wacker Chemie AG, International Paint Ltd., Carboline Company, International Marine Coatings, Ameron Protective Coatings, Devoe Marine Coatings, Rust-Oleum Marine Coatings, Sigma Coatings, BASF SE, Hexion Inc, ChromaScape, Baril Coatings, MCU coatings, and Tikkurila Oyj.
What trends are emerging in the marine coatings market?
Product innovations are a notable trend in the marine coating market. Companies are striving to maintain their market position by developing new products. For example, in March 2023, PPG Industries Inc., a US-based manufacturer of paints, coatings, and specialty materials, launched PPG SIGMAGLIDE 2390 marine coating. This coating’s unique feature is its ability to lower energy use and carbon emissions while exceeding performance goals without harming the marine environment. The biocide-free fouling release coating utilizes PPG HYDRORESET technology, which transforms the coating in water to create an extremely smooth, near-frictionless surface that marine organisms cannot latch onto.
Which region took the largest share in the marine coatings market?
Asia-Pacific was the largest region in the marine coatings market in 2024. The regions included in this marine coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Marine Coatings Market Report 2025 Offer?
Marine coating is a specific type of protective coating that provides a barrier between water and the substrate, shielding it from harm. It is widely used to protect ships, boats, tankers, and other marine structures from both saltwater and freshwater damage. The Marine Coatings Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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