Leisure Boat Marine Coating Market Size Worth $4.0 Billion by 2031 | CAGR: 7.3%: AMR

PORTLAND, OREGON, UNITED STATES, March 15, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global leisure boat marine coating market reached an estimated value of $2 billion in 2021 and is projected to reach $4 billion by 2031, registering a notable CAGR of 7.3% from 2022 to 2031. The report offers a comprehensive analysis of key factors driving market growth, investment opportunities, competitive landscape, and emerging trends, providing valuable insights for industry stakeholders to formulate effective strategies and enhance their market position.

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One significant factor fueling the expansion of the leisure boat marine coating market is the growing participation in recreational activities such as boating and water sports. Additionally, the rise in per capita income is driving increased expenditure on leisure activities like boating and water sports, necessitating specialized coatings for leisure boats to protect against corrosion and fouling effects of seawater. Consumers are increasingly demanding environmentally friendly coatings with low volatile organic compounds (VOCs), prompting manufacturers to innovate and comply with regulatory standards. These factors are expected to create lucrative opportunities for the leisure boat marine coating industry in the coming years.

The global leisure boat marine coating market is analyzed based on boat type, coatings, and region. The report provides a comprehensive breakdown of these segments through tabular and graphical representation, enabling investors and market players to identify high-revenue and fast-growing segments for strategic decision-making.

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In terms of boat type, the sailboats segment accounted for more than two-fifths of the total leisure boat marine coating market share in 2021 and is expected to maintain its dominance through 2031. Meanwhile, the personal watercrafts segment is projected to register the fastest CAGR of 7.8% during the forecast period.

With regards to coatings, the anti-fouling coatings segment held over two-fifths of the global leisure boat marine coating market revenue in 2021 and is anticipated to continue its dominance through 2031. This segment is also expected to exhibit the fastest CAGR of 7.8% during the forecast period.

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Geographically, the Asia-Pacific region accounted for nearly two-fifths of the global market share in 2021 and is poised to maintain its leadership position through 2031. Furthermore, the region is projected to witness the fastest CAGR of 7.8% during the forecast period. Other regions analyzed in the report include North America, Europe, and LAMEA.

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The key market players profiled in the 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 players have adopted various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their market presence. The report offers insights into the business performance and developments of these key players, aiding stakeholders in making informed decisions.

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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.

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