The Size of the Recreational Boat Marine Coatings Market Worth $4.0 Billion by 2031 | CAGR: 7.3%: RAM

The increase in the number of people engaging in recreational activities is driving the growth of the global recreational boat marine coatings market. By coatings, the antifouling coatings segment held the largest share in 2021. By region, on the other hand, Asia-Pacific would remain lucrative by 2031.

Portland, OR, Nov. 21, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the pleasure boat marine coating market was estimated to be worth $2 billion in 2021 and is projected to reach $4 billion by 2031, registering a CAGR of 7.3% from 2022 to 2031. The report provides a detailed analysis of major investment pockets, strategies most winning, drivers and opportunities, market size & estimates, competitive landscape and changing market trends. Market research is a useful source of information for early adopters, new entrants, investors and shareholders in developing strategies for the future and strengthening their position in the market.

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Report coverage and details:

Covid-19 scenario-

• Volatile raw material prices due to import-export restrictions and closure of manufacturing units have had a negative impact on the global marine coating market for pleasure boats.

• Travel restrictions imposed in several countries have resulted in the complete halt of all recreational and water activities such as scuba diving, surfing, rafting and others, affecting the demand for pleasure boats.

The global recreational boat marine coatings market is analyzed by boat type, coatings and region. The report contains an exhaustive analysis of the segments and their sub-segments using tabular and graphical representation. Investors and market participants can benefit from the breakdown and devise schemes based on the most revenue-generating and fastest-growing segments shown in the report.

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By boat type, the sailboat segment garnered more than two-fifths of the total recreational boat marine coatings market share in 2021 and is expected to dominate by 2031. The personal watercraft segment, however, is said to project the highest CAGR fast 7.8% throughout the forecast period.

By coatings, the antifouling coatings segment held more than two-fifths of the global recreational boat marine coatings market revenue in 2021 and is expected to dominate by 2031. The same segment would also cite the Fastest CAGR 7.8% throughout the forecast period.

Based on region, the Asia-Pacific marine coating market for pleasure craft generated nearly two-fifths of the global share in 2021 and is expected to retain the lion’s share by 2031. The same region would also show the highest CAGR 7.8% faster over the forecast period. Other provinces analyzed in the report include North America, Europe and LAMEA.

The major market players analyzed in the global recreational boat marine coatings market report are Chugoku Marine Paints, Ltd., DuPont, PPG Industries, Inc., Axalta, NIPSEA GROUP, AkzoNobel, BASF Coatings GmbH, Katradis Marine Ropes Ind. SA, Barrel Coatings. , Kansai Paint Co., Ltd., Kcc Corporation and Mcu Coatings International. These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures and others to showcase their prowess in the industry. The report is helpful in formulating the business performance and developments of key players.

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