To 2024, Leisure Boat Marine Coatings Market to grow at a CAGR of over 6.5%

Estimates suggest the foul-release leisure boat marine coatings market size to record a CAGR of 7.5% over the period of 2017-2024.

Selbyville, United States - October 15, 2019 /MarketersMedia/ —

The aforementioned statistics further depicts the enormous growth potential of APAC leisure boat marine coatings market. Besides, the region being one of the fastest growing tourism spot, is another compelling factor providing a substantial push to APAC market trends. As per UNWTO (World Tourism Organization), the tourist arrival in Asia Pacific will hit 535 million by 2030, with China, Thailand, and Malaysia witnessing a humongous development in the tourism sector.

Another prominent factor fueling the worldwide leisure boat marine coatings market size is the exponentially increasing popularity of recreational water activities. The recreational businesses, over the recent years, have seen a vivid uptick and are expected to witness similar growth trends in the coming timeframe, with the massively rising popularity of water sports, adventure boating, and recreational boating activities. The leisure boating being the mainstay for recreational activities, has overtly witnessed a widespread demand at a global scale, impelling the overall leisure boat marine coatings industry share.

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The hazardous chemical coating application such as antifouling product and anti-corrosion products which contains high toxic biocidal chemical substances harmful for aquatic ecosystem is likely to hinder the growth of the market. However, these coating offers energy efficiency enhancing the speed of vessels.

Foul release coating product will grow at CAGR of 7.5% over the coming years. This product offer advantages over conventional anti-fouling products such as high performance, lower maintenance, eco-friendly and easy application to the surface area. Further its eco-friendly properties will substitute traditional anti-fouling products over the coming years.

Speaking of the strategic landscape, the leisure bat marine coatings market is overt to be strongly influenced by sustainability and eco-friendly trends over the coming years. In this regard, one of the rather debatable trends is the surge in the demand for anti-fouling leisure boat marine coatings industry, where the product is deemed to have hazardous impact on marine ecosystem. The segment is claimed to have held more than 40% of the market’s product landscape in 2016 and is further expected to record a CAGR of 6% over the coming seven years. Owing to the negative impacts of anti-fouling products on the environment and marine system, foul-release products may witness remarkable proceeds over the coming years. Estimates suggest the foul-release leisure boat marine coatings market size to record a CAGR of 7.5% over the period of 2017-2024. The trend further underlines the emerging product trends in the leisure boat marine coatings industry which would majorly revolve around the sustainability and pricing quotients.

Browse key industry insights spread across 130 pages with 85 market data tables & 10 figures & charts from the report, “Leisure boat marine coatings market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/leisure-boat-marine-coatings-market

Speaking of which, some of the renowned names in the leisure boat marine coatings market include AkzoNobel, Hempel A/S, KCC Corporation, Nippon Paint, Kansai Paint Company, Jotun, Chugoku Marine Paints, The Sherwin-Williams Company, RPM International, PPG Industries, DuPont Coatings & Color Technologies, Katradis Marine Ropes Industry, BASF Coatings GMBH, and Axalta Coating Systems.

The aforementioned trends depict quite a lucrative roadmap for the leisure boat marine coatings market. The landscape is highly characterized by a slew of product developments in sync with the eco-friendly and sustainability trends coupled with the myriad range of geographies betting big on the revenue share. In terms of commercialization, Global Market Insights, Inc. projects the global leisure boat marine coatings industry size to hit a valuation of USD 1.9 billion by 2024.

Glimpse of Table of Content (ToC)

Chapter 4. Leisure Boat Marine Coatings Market, By Product

4.1. Global leisure boat marine coatings market share by product, 2016 & 2024
4.2. Anti-fouling coatings
4.2.1. Market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Anti-corrosion coatings
4.3.1. Market estimates and forecasts, 2013 - 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024
4.4. Foul release coatings
4.4.1. Market estimates and forecasts, 2013 - 2024
4.4.2. Market estimates and forecasts by region, 2013 – 2024
4.5. Others
4.5.1. Market estimates and forecasts, 2013 - 2024
4.5.2. Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/leisure-boat-marine-coatings-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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