Anthony Locicero, Associate Editor08.09.19
The marine coatings market size is forecasted to surpass $15 billion by 2024 at approximately seven percent CAGR from 2016 to 2024, according to research by Global Market Insights.
A growing need for low fuel consumption will enhance the demand for regular coating by anti-fouling agents, GMI said.
“Predictably, the coatings market remained very competitive in 2018,” said Christian Ottosen, group VP, head of Marine, Hempel A/S. “The price for raw materials increased more than anticipated, which affected the entire coatings industry. There were sustained tough market conditions in the marine industry globally. The marine newbuild markets in Asia and Europe continued to decline but there was a rise within marine maintenance.
“We see 2019 as a year of progress and overall the global coatings market is expected to pick up.”
“The commercial marine coatings industry in North America has seen steady growth since the beginning of 2018, and we see it continuing at a similar pace through 2019 and into next year,” add
A growing need for low fuel consumption will enhance the demand for regular coating by anti-fouling agents, GMI said.
“Predictably, the coatings market remained very competitive in 2018,” said Christian Ottosen, group VP, head of Marine, Hempel A/S. “The price for raw materials increased more than anticipated, which affected the entire coatings industry. There were sustained tough market conditions in the marine industry globally. The marine newbuild markets in Asia and Europe continued to decline but there was a rise within marine maintenance.
“We see 2019 as a year of progress and overall the global coatings market is expected to pick up.”
“The commercial marine coatings industry in North America has seen steady growth since the beginning of 2018, and we see it continuing at a similar pace through 2019 and into next year,” add
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