Recreational Craft Marine Coatings Market Size Worth $4.0 Billion By 2031

Allied market research

The increase in the number of people engaged in recreational activities drives the growth of the global market for marine coatings for pleasure boats. In coatings, the antifouling coatings segment held the largest share in 2021. By region, however, Asia-Pacific is projected to remain profitable by 2031.

Portland, OR, Nov. 21, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the marine coating for pleasure boats market was estimated at $2 billion in 2021 and is projected to reach $4 billion by 2031, registering a CAGR of 7.3% from 2022 to 2031. The report provides a detailed analysis of major investment pockets, top winning strategies, of drivers and opportunities, market size and estimations, competitive landscape and evolving market trends. The market study is a useful source of information for leaders, new entrants, investors and shareholders as they strategize for the future and strengthen their position in the market.

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Report coverage and details:

Report coverage

Details

Forecast period

2022–2031

Reference year

2021

Market size in 2021

$2 billion

Market size in 2031

4 billion dollars

CAGR

7.3%

# of pages in the report

305

Segments covered

Type of boat, finishes and region.

Drivers

Increase in the number of individuals engaged in recreational activities

Restrictions

Fluctuations in the prices of the raw materials needed to make marine coatings

Chance

Expansion of shipbuilding activities worldwide


Covid-19 Scenario-

  • Volatile raw material prices due to import-export restrictions and plant closures have negatively impacted the global market for marine coatings for pleasure craft.

  • Travel restrictions imposed in several countries have led to the complete shutdown of all recreational and water sports activities such as scuba diving, surfing, rafting and others, affecting the demand for pleasure craft.

The global Recreational Craft Marine Coatings market is analyzed by boat type, coatings, and region. The report contains a comprehensive analysis of the segments and their sub-segments with the help of a tabular and graphical representation. Investors and market players can take advantage of breaking it down and devising stratagems based on the highest revenue generating and fastest growing segments noted in the report.

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By vessel type, the sailboat segment garnered more than two-fifths of the total market share of marine coatings for pleasure craft in 2021 and is projected to dominate by 2031. The personal watercraft segment, however, would project the fastest CAGR of 7.8% across the forecast period.

In regards to coatings, the antifouling coatings segment held more than two-fifths of the global pleasure craft marine coatings market revenue in 2021 and is expected to dominate by 2031. The same segment would also mention the Faster CAGR by 7.8% for the entire forecast period.

On a regional basis, the Asia-Pacific recreational craft marine coatings market generated nearly two-fifths of the global share in 2021 and is projected to retain the lion’s share by 2031. The same region would also exhibit the highest CAGR rapid 7.8% during the forecast period. The other provinces analyzed through the report include North America, Europe and LAMEA.

Major market players analyzed in the Global Recreational Craft Marine Coatings Market Report include Chugoku Marine Paints, Ltd., DuPont, PPG Industries, Inc., Axalta, NIPSEA GROUP, AkzoNobel, BASF Coatings GmbH, Katradis Marine Ropes Ind. SA, Baril Coatings , Kansai Paint Co., Ltd., Kcc Corporation and Mcu Coatings International. These market players have embraced different strategies including partnership, expansion, collaboration, joint venture and others to highlight their prowess in the industry. The report is useful for formulating business performance and developments of top players.

Do you want access to statistical data and graphs, strategies of the main players: https://www.alliedmarketresearch.com/leisure-boat-marine-coating-market/purchase-options

Who we are

Allied Market Research (AMR) is a full service market research and business consultancy from Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global enterprises and medium and small businesses unmatched quality of ‘Market Research Reports’ and ‘Business Intelligence Solutions’. AMR has a focused vision to provide business insights and advice to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional business relationships with various companies and this helps us to dig market data which helps us generate accurate research data tables and confirms utmost accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in any way possible to achieve success. Every single piece of data presented in the reports we publish is extracted through primary interviews with senior officials of the major domain companies concerned. Our secondary data sourcing methodology includes extensive online and offline research and discussions with experienced professionals and industry analysts.

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