What are the main aspects of the marine coatings market?

Global marine coatings market will reach 14.15 billion euros by 2024, according to a new study by GlobalMarket Insights, a research firm.china-led shipbuilding industry in the Asia-Pacific region will be the main driver of the global marine coatings market, according to the study. Other major shipbuilding developed countries and regions in the Asia-Pacific region include Japan, South Korea, the Philippines and Taiwan. Ship coatings can improve the performance and service life of ships, and with the gradual deepening of applications, and further promote the development of high-quality, environmentally friendly coatings, thereby promoting the overall development of marine coatings.analysis points out that the marine coatings market is affected by the following aspects: 1. Ship maintenance and overhaul in addition to new orders for ships, there are a large number of dry dock ship repair work, which has pushed up the market demand for anti-fouling coatings. Despite the decline in new ship manufacturing, ships built over the past decade will require maintenance, so maintenance and overhaul will be a major feature of the shipbuilding industry in the coming years.。 2. Raw material price fluctuations raw materials such as crude oil derivatives, copper, titanium dioxide and other frequent price fluctuations, which will inhibit the development of the global marine coatings market. The analysis points out that the demand for raw material applications multiplied and was influenced by political environment and regulations, which further enhanced the bargaining power of raw material suppliers, which led to the increase in the production cost of marine coating products.。 3. Environmental concernBecause some marine coating products also use more toxic and high VOC content additives, so the VOC limit regulations and policies to some extent inhibited the development of the marine coatings market. Moreover, many government agencies continue to strengthen environmental protection efforts, which is also restricting the development of the marine coatings market, one of the important factors.
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