Marine Coatings Market Analysis: Navigating Trends, Challenges, and Opportunities
The Marine Coatings Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Marine coatings are protective paint coatings applied to vessels and offshore structures engaged in shipping and maritime trade activities to prevent corrosion and fouling. These coatings extend the lifespan of vessels and offshore structures by providing a barrier between the substrate material and sea water. Market Dynamics: The marine coatings market is expected to witness significant growth over the forecast period owing to two key drivers. Firstly, the rise in global shipping and maritime trade activities has increased demand for new vessels and maintenance of existing fleet. Global maritime trade volumes have doubled in the last decade and are expected to further rise strongly by 2030. Secondly, strict environmental regulations regarding the use of antifouling coatings containing biocides have ...