About Hull Paint
Hull paint are specialized paints applied to the hull area of a ship to prevent the growth of subaquatic plant and organisms. It increases vessel performance and durability. Growth in the marine industry supplementing the growth of the hull paint market. Moreover, market players involved in the hull paint market are focusing on the development of environment-friendly hull paint. In addition, rising demand from the developing economies expected to drive the demand for hull paint over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Hull Paint market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Awlgrip (Netherland), Boero YachtCoatings (Switzerland), De IJssel Coatings (Netherland), FLAG Paints (United Kingdom), International Yacht Paint, Marlin SRL (Italy), Mercury Marine (United States), Nautix (France), Norglass (Australia), Orange Marine (United States), Awlgrip (Netherland), Boero YachtCoatings (Switzerland), De IJssel Coatings (Netherland), FLAG Paints (United Kingdom), International Yacht Paint, Marlin SRL (Italy), Mercury Marine (United States), Nautix (France), Norglass (Australia) and Orange Marine (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Pettit Paint (United States), Nippon Paint Marine (Japan) and Seahawk Paints (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hull Paint market by Type (Light Type Boat Paints and Grinding Sand Mold Boat Paints), Application (Anti-Corrosion, Anti-Osmosis, Anti-Abrasion and Other) and Region.
On the basis of geography, the market of Hull Paint 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 Distribution Channel, the sub-segment i.e. Online Retail will boost the Hull Paint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Hull Paint Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Demand from the Shipping Industry
- Growing Application in Yachts, Passenger Ships, and Others
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Influencing Trends | - Rising Applications for the Hulls and Underwater Surfaces
- Emphasizing On Development of Environment-Friendly Hull Paint
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Restraints | - High Manufacturing Cost Associated With Hull Paint
- Stringent Government Regulations Regarding Hull Paint
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Road Blocks / Challenges | - Lack of Awareness in the Emerging Economies
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Gaps & Opportunities | - Increasing Demand for the Antifouling Paints
- Rising Demand from the Developing Economies
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September 2018, Nippon Paint Marine launches low friction self-polishing copolymer, biocide-free unique hull coating.
“According to the International Maritime Organization (IMO), international convention on the control of harmful anti-fouling systems on ships, which was adopted on 5 October 2001, prohibit the use of harmful organotin compounds in anti-fouling paints used on ships and will establish a mechanism to prevent the potential future use of other harmful substances in anti-fouling systems. The Convention entered into force on 17 September 2008. Annex 1 attached to the Convention states that by an effective date of 1 January 2003, all ships shall not apply or re-apply organotins compounds which act as biocides in anti-fouling systems, and by 1 January 2008 (effective date), ships either, shall not bear such compounds on their hulls or external parts or surfaces or shall bear a coating that forms a barrier to such compounds leaching from the underlying non-compliant anti-fouling systems.”
Key Target Audience
Hull Paint Manufacturers, Hull Paint Distributors, Government Bodies, Corporate Entities, Market Research and Consulting Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.