Global Dry Docking Coatings Market: Overview

Dry docking coatings are applied during the dry docking of a vessel. These coatings help increase the longevity of the vessel by protecting them from harsh weather conditions, fouling, etc. The marine industry comprises bulk tankers and carriers, cargo ships, cruise ships, and container ships. Dry docking coatings are also considered vital in enhancing the fuel efficiency of a vessel and decreasing the impact on the environment. The new shipbuilding industry is expanding at a sluggish pace. Therefore, demand for dry docking coatings market during ship repair and maintenance activities is likely to boost the market during the forecast period.

Based on type of product, the dry docking coatings market can be classified into anti-fouling, anti-corrosion, foul release coatings, self-cleaning coatings, and others. The anti-fouling segment has been dominating the global dry docking coatings market since the last few years. These coatings are primarily consumed during ship repair and maintenance activities. Anti-fouling coatings offer protection to the surface from fouling organisms. Increase in ship repair and maintenance activities in various regions across the globe is projected to boost the demand for anti-fouling coatings during the forecast period. In terms of volume, the anti-corrosion segment also held key share of the market in 2016. Dry Docking Coatings Market offer protection to the surface from abrasion, corrosion, and impact. Foul release coating is one of the popular dry docking coatings in the maritime industry. Foul release coatings are biocide-free and environmentally compatible. Demand for other dry docking coatings market such as self-cleaning and self-polishing coatings is likely to be stable during the forecast period.

 The dry docking coatings market can also be segmented based on resin into epoxy, silicone, acrylate, and others. Epoxy based coatings are widely used in the manufacture of dry docking coatings. Each of these resins has a particular advantage and specification of use. Silicone resins are largely used to manufacture foul-release coatings as they have the property to create very fine and smooth surface, thus making it difficult for fouling agents to adhere to the hull surface. Deep-sea application accounted for the key share in terms of demand in 2016. Based on application, the market can be divided into coastal, containers, deep sea, leisure boats, offshore vessels, and other applications. Dry docking coatings protect ships and vessels from corrosion and fouling organisms. Deep-sea applications require higher protection during the repair and maintenance stages. Offshore vessels and leisure boats are also among the major applications of dry docking coatings. Demand for dry docking coatings market in containers and deep-sea applications is anticipated to rise due to the increase in marine trading and logistics activities. Deep-sea is anticipated to be among the rapidly growing segments of the dry docking coatings market during the forecast period. Other applications for dry docking coatings comprise icebreakers, research vessels, and riverboats. 

In terms of demand, Asia Pacific is anticipated to account for a significant share of the global dry docking coatings market. The region is estimated to be followed by Europe. Demand for dry docking coatings market in Europe is rising due to the increase in demand during ship repair and maintenance activities. North America is expected to experience sluggish demand for dry docking coatings market during the forecast period. Latin America is likely to exhibit potential growth for dry docking coatings market in the next few years. Expansion in the maritime industry in Brazil, Mexico, Saudi Arabia, and South Africa has is a key factor boosting the demand for dry docking coatings market in Latin America and Middle East & Africa.

Prominent companies operating in the dry docking coatings market include Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, Hempel A/S, Chugoku Marine Paints Ltd., and Sherwin-Williams Company. 

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Dry Docking Coatings Market