Portland, OR, Nov. 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global leisure boat marine coating market was estimated at $2 billion in 2021 and is expected to hit $4 billion by 2031, registering a CAGR of 7.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2 Billion |
| Market Size in 2031 | $4 Billion |
| CAGR | 7.3% |
| No. of Pages in Report | 305 |
| Segments Covered | Boat Type, Coatings, and Region. |
| Drivers | Surge in the number of individuals engaging in recreational activities |
| Restraints | Fluctuations in the prices of raw materials required to make marine coatings |
| Opportunities | Expanding ship-building activities across the world |
Covid-19 scenario-
- Volatile prices of raw materials due to import-export restrictions and shutdown of manufacturing units impacted the global leisure boat marine coating market negatively.
- The travel restrictions imposed across several countries led to the complete shutdown of all recreational and watersport activities such as scuba diving, surfing, rafting, and others, affecting the demand for leisure boats.
The global leisure boat marine coating market is analyzed across boat type, coatings, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By boat type, the sailboats segment garnered more than two-fifths of the total leisure boat marine coating market share in 2021, and is expected to dominate by 2031. The personal watercrafts segment, however, would project the fastest CAGR of 7.8% throughout the forecast period.
By coatings, the anti-fouling coatings segment held more than two-fifths of the global leisure boat marine coating market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 7.8% throughout the forecast period.
Based on region, the leisure boat marine coating market across Asia-Pacific generated nearly two-fifths of the global share in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also manifest the fastest CAGR of 7.8% during the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global leisure boat marine coating market report include Chugoku Marine Paints, Ltd., DuPont, PPG Industries, Inc., Axalta, NIPSEA GROUP, AkzoNobel, BASF Coatings GmbH, Katradis Marine Ropes Ind. S.A., Baril Coatings, Kansai Paint Co., Ltd., Kcc Corporation, and Mcu Coatings International.These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
