The global Marine Coatings Market Growth Accelerated by Sustainable Product Innovations
Marine coatings are surface coatings used for the protection of marine vessels from corrosion and fouling. Corrosion-resistant and fouling-resistant coatings extend the life and performance of ships and boats. Growing concerns about environmental protection have boosted the demand for eco-friendly marine coating solutions. The global Marine Coatings Market is estimated to be valued at US$ 6.5 Billion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Sustainable product innovations is one of the key trends driving the growth of the marine coatings market. Various coating manufacturers are engaged in developing bio-based, self-polishing, and foul-release coatings to reduce environmental footprint of marine vessel operations. For instance, international paints launched bio-based antifouling coatings – Intersmooth Quantum and Intersleek 1100SR which are made fr...