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Yacht Coatings Market offer key advantages such as durability, finishing, and reparability. Increasing water traffic is expected to boost the demand for these coatings in the forthcoming years. In the latest study published by Market Research Future (MRFR), the global yacht coatings market is anticipated to register a double-digit CAGR of 12% over the review period 2022 to 2030. The market’s valuation, by 2030, is expected to exceed USD 4.21 Bn in terms of revenue.
Yacht coatings offer key advantages such as ultraviolet resistors, aliphatic urethane resins, premier quality pigments, solvents, etc. These factors are expected to accelerate revenue creation for the players of the yacht coatings market over the next couple of years. Also, the rising inclination towards distinguished appearance and looks is likely to encourage investment by the market players. This, in turn, is prognosticated to catapult the yacht coatings market on upward trajectory.
Increasing disposable income is anticipated to generate demand for luxurious yachts is projected to generate demand for these coatings in the years to come. In addition, the increasing production of yachts, especially in Europe region, is expected to play a crucial role in the proliferation of the global yacht coatings market across the projection period. The market is poised to exhibit more growth in developed economies. However, the developing economies are also projected to witness new avenues of growth to be explored by the market participants for profit maximization over the next few years.
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Regional Analysis:
The geographical evaluation of the global yacht coatings market spans across North America, Europe, Latin America, Asia Pacific (APAC), and the Middle East & Africa (MEA). Europe is dominating the global market at present and is expected to maintain its prominence over the next couple of years. The boom witnessed in the marine industry of the region is likely to lead the growth pace of the yacht coatings market over the next couple of years. The strong economic growth of North America is expected to unleash developmental opportunities for the key players of the regional yacht coatings market. It is anticipated to hold the second spot in the marketplace and exhibit substantial growth in the years to come. Asia Pacific is prognosticated to witness moderate growth and retain the third spot over the next few years followed by the Middle East & Africa and Latin America.
Market Segmentation:
The report covers a segmental analysis of the yacht coatings market based on type and application.
On the basis of type, the global yacht coatings market has been segmented into polyurethanes, epoxies, ethyl silicates, and others.
On the basis of application, the yacht coatings market has been segmented into fairing, final priming & sealing, finishing, surfacing, topcoat care & maintenance, specialty applications, hull, and others.
Key Players:
The global yacht coatings market is Akzo Nobel N.V (Europe), Jotun (Europe), PPG Industries, Inc.(U.S.), Hempel A/S(Europe), Boero Bartolomeo S.p.A. (Europe), Chugoku Marine Paints, Ltd (Japan), Engineered Marine Coatings LLC (U.S.), BASF SE (Germany), DuPont (U.S.), ALEXSEAL (Germany) and others.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis about diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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