FEATURE
Kerry Pianoforte, Editor
The marine coatings market comprises not just antifouling coatings for ships, but also protective coatings for off- shore structures such as oil rigs. There is great potential
for growth in this diverse market. For 2012, market research
firm Frost and Sullivan reported the protective and marine coat-
ings market generated revenue of $2.03 billion North American
with a base growth grate of 2.1 percent, and $2.40 billion in
Europe, with a base year growth rate of 1.2 percent. According
to the study, despite the recent global economic downturn,
favorable long-term industrial trends should help the North
American market grow to $2.40 billion by 2017, with a market
revenue compound annual growth rate (CAGR) of 3. 4 percent,
and the European market is set to grow to $2.72 billion, with a
CAGR of 2.6 percent.
The marine and offshore coatings market is showing steady signs of improvement.
The Marine
Coatings Market
Photo courtesy: AkzoNobel
