“In September 2008, the international convention on the control of harmful anti-fouling systems on ships came into force. It states that on passenger ships constructed on or after 1 July 2008, paints, varnishes and other finishes used on exposed surfaces of cabin balconies, excluding natural hardwood decking systems, shall not be capable of producing excessive quantities of smoke and toxic products, this being determined in accordance with the Fire Test Procedures Code.”
The article cited AMA's Global Marine Coatings Market Study explored substantial growth with CAGR of 7.9%. According the report, Rising Demand for Ecofriendly Marine Coatings
is one of the primary growth factors for the market. Increasing Demand from the Shipbuilding Industry
is also expected to contribute significantly to the Marine Coatings market. Overall, Cargo Ships
applications of Marine Coatings, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Marine Coatings market identified that the demand is rising in many different parts of the world as "Increasing Demand for Polyurethane Resin
"
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Marine Coatings market by Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Marine Coatings market and other related sub-markets covered in the study.
o Key & emerging players in the Marine Coatings market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Marine Coatings market size is calculated using market estimation process, the Marine Coatings market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Marine Coatings market size has been validated using both top-down and bottom-up approaches.