Coatings World - May 2010

Marine & Offshore Coatings Market

The marine coatings market reported
growth opportunities in the offshore
and petro-chemical segments in
2009. Marine coatings manufacturers
are hopeful this momentum will
continue to build in 2010.

BY KERRY PIANOFORTE ASSOCIATE EDITOR

The marine, yacht and offshore coatings market was a mixed bag in 2009. While certain segments were soft, other areas, particularly newbuilding and offshore, offered growth opportunities.

Sherwin-Williams experienced growth in its offshore and petrochemical related business, with much of that tied to Brazil’s investment in those markets, according to Rick McRae, global market director, marine, Sherwin-Williams Protective and Marine. “That really helped investment in the Gulf of Mexico and helped to propel that portion of the market,” he said. “The newbuild activity in Asia in 2009 remained stable given the completion of previously announced vessels while the inland marine maintenance market remained steady throughout most of 2009. However, the newbuild market slowed primarily because it was difficult for owners to obtain financing. The government marine business was somewhat soft, mostly due to deferral of maintenance.

While it’s a little too early to tell what 2010 will bring, Sherwin-Williams is seeing some projects that had been on hold moving forward, and existing projects that were going slowly have increased their pace. These indicators could lead to a positive outcome for the remainder of the year. The outlook for 2011 and after is less clear.

For International Paint, 2009 was another successful year, despite the company’s first fall in revenue—six percent overall—for a number of years. “We experienced relatively healthy demand, particularly in China, the Middle East, India and other parts of Asia,” said Jim Brown, marketing operations manager, worldwide marine, International Paint. “The weakness in some markets and in some geographies was offset by continued rising demand in marine newbuilding. But in the second half, revenue fell by approximately ten percent as the weakness in Europe and the Americas more than offset the growth elsewhere.”