Yacht Coatings Market: Opportunity and Forecast Analysis (2021-2027) by Chemicals, Application, Purpose, and Region

Yacht Coatings Market is expected to reach US$ 7.42 Bn. in 2027, with a CAGR of 12.05% for the period 2021-2027, because of an increased production activities in the maritime sector.

Yacht Coatings Market Introduction:

Yacht coatings are protective coatings that are applied to the outside surfaces of boats to prevent corrosion, fouling, and erosion. Yachts are often composed of aluminium or steel with paint, zinc-aluminum alloy (zincate), fiberglass reinforced plastic (FRP), or other material finish on the outside. The necessity for yacht coats is then determined by the environment in which they operate (coastal, open ocean), as well as the yacht's intended use (fishing or pleasure). Corrosion protection, fouling control, and foul release qualities are required for yachts operating in coastal or freshwater environments. Anti-corrosion coatings are required for yachts operating offshore to defend against seawater contaminants like chlorides and sulphates. Yacht Coatings Market To know about the Research Methodology:- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Yacht Coatings Market Dynamics:

The yacht coatings market is being driven by the increased production activities in the maritime sector, rising disposable income among the population, and changing lifestyles in developing countries. The growing demand for unique and distinctive private yacht forms and looks, as well as the growing diversity of sea transportation options, are likely to drive market growth in the coming years. In addition, market growth is expected to grow during the forecast period, due to the need to improve performance and minimize emissions created by yachts and luxury vessels. The development of sustainable and environmentally friendly products is a major market driver. Environmental restrictions are becoming more stringent, and customers are demanding more sustainable products, which has led to the creation of eco-friendly coatings. Environmentally friendly, anticorrosive, and antifouling marine coatings are being developed by manufacturers. Environmental standards are met, and the coating materials do not harm the marine habitat. The shipbuilding business is governed by tight government rules, and the cost of maintaining ships and yachts is also rising at a quicker rate. Thus, shipowners had no choice but to use antifouling coatings, which boost vessel longevity and productivity while also allowing them to comply with environmental requirements. The ship owners go to great lengths to increase the same, which has an impact on the need for yacht coatings. The decline of the shipbuilding industry, as well as the lack of shipping loans, have hampered the growth of yacht coatings. On the other hand, recent inventions and developments in the coating production sector have resulted in high-performing and high-standard products, extending coating life and lowering maintenance costs. This is expected to have a negative influence on the global yacht coating market's requirement for maintenance, washing, and re-coating on a regular basis.

COVID-19 Impacts on Yacht Coatings Market:

The increased demand for chemicals and supplies needed to combat the COVID 19 epidemic resulted in a lack of raw materials for other products, despite its high pricing, interrupting the supply chain for the Yacht Coatings Market. Companies that are rapidly expanding capacity to meet COVID-induced demand must exercise caution when interpreting these unexpected demand patterns. From 2021 to 2027, the Yacht Coatings Market industry is then shaped by post-pandemic changes in social, economic, trade, and political factors, as well as planned environmental regulatory reforms. During COVID-19, the yacht coatings market reported mixed results for various applications and geographies. The study examines the pandemic's segment-specific ramifications and presents various case scenarios for the Yacht Coatings Market Market's growth prospects through 2027.

Yacht Coatings Market Trends:

Increasing Production Activities in the Marine Industry On yachts and other pleasure boats, coatings are utilised for both the interior and exterior. The coatings used on yachts account for a major portion of demand. Premium topcoats, high-build surfaces, various protection primers, finishing primers, and antifouling paints are all available as yacht coatings. In addition, yachts and other boats employ interior topcoats and wood treatments. According to the Cruise Lines International Association, cruise travel has exceeded general leisure travel, with global cruise passengers estimated to be about 25.8 million and expected to climb to 27.2 million by 2020. (CLIA). This growth is expected to remain stable, resulting in an increase in consumption for coatings used in maintenance and repair.

Yacht Coatings Market Segment Analysis:

Based on the Chemicals Segment: The Yacht Coatings market is further sub-segmented into Epoxies, Polyurethanes, Ethyl silicates, and others. Among these, the Epoxy coatings account for the largest share of the global yacht coatings market among all resin types. Epoxy coatings are used on a variety of elements of a ship during construction, maintenance, and repairs, including submerged hulls, ballast tanks, cargo tanks or holds, decks, topsides, and superstructures, among others. Primers and topcoats are the most common applications for epoxy coatings. These coatings are useful for corrosion-resistivity applications because to their ease of recoat, bonding ability with various materials, and moisture-resistant nature. Also, epoxy coatings have exceptional characteristics.

Yacht Coatings Market Regional Insights:

Thanks to the huge industrial activity in the region's marine sector, Europe has the lead in the worldwide yacht coatings market. Also, there are substantial participants in the coatings business in the region who are actively developing yacht coatings with both decorative and practical features. In terms of market share, North America is second only to Europe. Attributed to the presence of a considerable number of nouveau riche who are purchasing yachts and other luxury marine boats, Asia Pacific is the third largest geographical market. Coatings manufacturers are also present in the region, and they have contributed considerably to the expansion of the Asia Pacific market. Yacht Coatings Market 1 The objective of the report is to present a comprehensive analysis of the global Yacht Coatings market to the stakeholders in the Purpose. The past and current status of the Purpose with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the Purpose with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Purpose to the decision-makers. The report also helps in understanding the Yacht Coatings dynamics, structure by analyzing the market segments and projecting the Yacht Coatings size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Yacht Coatings market make the report investor’s guide.

Yacht Coatings Market Scope: Inquire before buying

Yacht Coatings Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.35 Bn.
Forecast Period 2021 to 2027 CAGR: 12.05% Market Size in 2027: US $ 7.42 Bn.
Segments Covered: by Chemicals • Epoxies • Polyurethanes • Ethyl silicates • Others
by Application • Fairing • Longboarding • High build primer • Metal Prep • Color matching
by Purpose • New build application • Crew maintenance & wash down • Regular re-coating at designated repair/overhaul intervals

Yacht Coatings Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Yacht Coatings Market Key Players

AkzoNobel • Jotun • PPG Industries, Inc • Epifanes NA Inc • Boero Bartolomeo S.p.A • Alexseal Yacht Coatings • The Sherwin-Williams Company • Chugoku Marine Paints Ltd • Hempel UK Ltd. • Engineered Marine Coatings LLC • BASF SE • DuPont • ALEXSEAL • Others

Frequently Asked Questions:

1. Which region has the largest share in Yacht Coatings Market? Ans: The Europe held the largest share in 2020. 2. What is the growth rate of the Yacht Coatings Market? Ans: The Yacht Coatings Market is growing at a CAGR of 12.05% during the forecasting period 2021-2027. 3. What segments are covered in the Yacht Coatings market? Ans: Yacht Coatings Market is segmented into Chemicals, Application, Purpose, and Region. 4. Who are the key players in the Yacht Coatings market? Ans: The important key players in the Yacht Coatings Market are – AkzoNobel, Jotun, PPG Industries, Inc, Epifanes NA Inc, Boero Bartolomeo S.p.A, Alexseal Yacht Coatings, The Sherwin-Williams Company, Chugoku Marine Paints Ltd, Hempel UK Ltd., Engineered Marine Coatings LLC, BASF SE, DuPont, ALEXSEAL, and Others 5. What is the study period of this market? Ans: The Yacht Coatings Market is studied from 2020 to 2027.
1. Global Yacht Coatings Market: Research Methodology 2. Global Yacht Coatings Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Yacht Coatings Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Yacht Coatings Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Yacht Coatings Market Segmentation 4.1. Global Yacht Coatings Market, by Chemicals (2020-2027) • Epoxies • Polyurethanes • Ethyl silicates • Others 4.2. Global Yacht Coatings Market, by Application (2020-2027) • Fairing • Longboarding • High build primer • Metal Prep • Color matching 4.3. Global Yacht Coatings Market, by Purpose (2020-2027) • New build application • Crew maintenance & wash down • Regular re-coating at designated repair/overhaul intervals 5. North America Yacht Coatings Market(2020-2027) 5.1. North America Yacht Coatings Market, by Chemicals (2020-2027) • Epoxies • Polyurethanes • Ethyl silicates • Others 5.2. North America Yacht Coatings Market, by Application (2020-2027) • Fairing • Longboarding • High build primer • Metal Prep • Color matching 5.3. North America Yacht Coatings Market, by Purpose (2020-2027) • New build application • Crew maintenance & wash down • Regular re-coating at designated repair/overhaul intervals 5.4. North America Yacht Coatings Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Yacht Coatings Market (2020-2027) 6.1. European Yacht Coatings Market, by Chemicals (2020-2027) 6.2. European Yacht Coatings Market, by Application (2020-2027) 6.3. European Yacht Coatings Market, by Purpose (2020-2027) 6.4. European Yacht Coatings Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Yacht Coatings Market (2020-2027) 7.1. Asia Pacific Yacht Coatings Market, by Chemicals (2020-2027) 7.2. Asia Pacific Yacht Coatings Market, by Application (2020-2027) 7.3. Asia Pacific Yacht Coatings Market, by Purpose (2020-2027) 7.4. Asia Pacific Yacht Coatings Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Yacht Coatings Market (2020-2027) 8.1. Middle East and Africa Yacht Coatings Market, by Chemicals (2020-2027) 8.2. Middle East and Africa Yacht Coatings Market, by Application (2020-2027) 8.3. Middle East and Africa Yacht Coatings Market, by Purpose (2020-2027) 8.4. Middle East and Africa Yacht Coatings Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Yacht Coatings Market (2020-2027) 9.1. South America Yacht Coatings Market, by Chemicals (2020-2027) 9.2. South America Yacht Coatings Market, by Application (2020-2027) 9.3. South America Yacht Coatings Market, by Purpose (2020-2027) 9.4. South America Yacht Coatings Market, by Country (2020-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. AkzoNobel 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Jotun 10.3. PPG Industries, Inc 10.4. Epifanes NA Inc 10.5. Boero Bartolomeo S.p.A 10.6. Alexseal Yacht Coatings 10.7. The Sherwin-Williams Company 10.8. Chugoku Marine Paints Ltd 10.9. Hempel UK Ltd. 10.10. Engineered Marine Coatings LLC 10.11. BASF SE 10.12. DuPont 10.13. ALEXSEAL 10.14. Others

About This Report

Report ID 83504
Category Material & Chemical
Published Date February 2021
Updated Date Dec 2021
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