Tim Wright05.07.09
Marine coatings systems are applied to ships and structures in both the sea and fresh water environments. They serve the dual purpose of protecting against deterioration and keeping ships looking good. The world merchant fleet is comprised mostly of bulk carriers and tankers, but also includes container ships, cargo ships and passenger/cruise ships among others. In terms of value, the marine coatings market was worth approximately $4 billion in 2007, or roughly four percent of the total global coatings market, on a volume of 840 million liters.
According to IPPIC's "Global Paint and Coatings Industry Market Analysis Report (2007-2012)," the growth of marine paints is projected to slow and level off over the next five yeaers and will be worth $4.7 billion in 2012 on a volume of 904 million liters.
The global marine coatings market is heavily consolidated, the IPPIC report said, with 80% of the market owned by five companies-AkzoNobel, through its International Paint business, Chugoku Marine Paints, Hempel's Marine Paints, Jotun and PPG.
Asia-Pacific dominates the global distribution of marine coatings for both new ship
According to IPPIC's "Global Paint and Coatings Industry Market Analysis Report (2007-2012)," the growth of marine paints is projected to slow and level off over the next five yeaers and will be worth $4.7 billion in 2012 on a volume of 904 million liters.
The global marine coatings market is heavily consolidated, the IPPIC report said, with 80% of the market owned by five companies-AkzoNobel, through its International Paint business, Chugoku Marine Paints, Hempel's Marine Paints, Jotun and PPG.
Asia-Pacific dominates the global distribution of marine coatings for both new ship
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