Global Marine Sealant Market Overview:
Marine sealants are a product which provides a watertight and airtight seal in between two or more surfaces on a boat. It also helps in improving the boat’s aesthetics, durability and longevity, marine sealants. It offer noise deadening and vibration dampening qualities. Marine sealants is designed for commercial and leisure boats are utilized in a variety of applications. The major application are above the water line sealants which offer an important role to create seaworthiness by combining various substrates in applications such as thru-hull fittings. It is an adhesive sealant that can be utilized to seal fittings it has adhesive properties through which it mechanically bonds to certain materials. Some of the key players profiled in the study are Illinois Tool Works (United States), RPM International (United States), Franklin International (United States), H.B. Fuller (United States), Henkel (Germany), Sika AG (Switzerland), 3M (United States), Shoreline Marine (Georgia), DAP Products Inc. (United States) and Eclectic Products, Inc. (United States).
On the basis of geography, the market of Marine Sealant has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Silicone will boost the Marine Sealant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Flexibility will boost the Marine Sealant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising International Sea Trade
- Increasing Number of Consumer Regarding Luxury Yachts and Leisure Boats
- Increasing Population of Affluent People across the Globe
Market Trend
- High adoption of the hybrids technology which is the combination of the best elements of existent sealers. The major reason behind the high adoption of the strength of polyurethane with the UV heat resistance of silicone.
Restraints
- Slow Pace of Economic Growth
- The decline in Shipbuilding Orders and Imports and Exports
Opportunities
- Increasing Customer Preference for Sustainable Products
- Rapid Growth of the Shipbuilding Industry
- Technological Advancements
Challenges
- Restriction on the Use of a Large Varieties of Sealants Previously Used On an Extensive Basis
- High Purchasing and Supply Cost of Raw Materials
The global Marine Sealant market is a highly competitive market and it consists of various leading players. With respect to the market share, some of the players are highly dominating the global market. These leading players are focusing on strategic collaborative activities to enhance their market share to increase their profitability.
Target Audience:
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Marine Sealant Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Marine Sealant market on the basis of product [Adhesive Sealants and Specialty Sealants] , application [Water Line Sealing, Deck to Hull and Window Bonding], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Marine Sealant market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Marine Sealant industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Life Industries Corp. (United States), TotalBoat (United States) and Dow (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Marine Sealant market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.