Marine Flooring and Deck Covering Products Market: Introduction
- The global marine flooring & deck coverings products market is expected to expand at a rapid pace during the forecast period, owing to the rising demand for these products from cruises and recreational boats. Rising demand for esthetics and comfort features in cruises and boats has driven the global marine flooring & deck coverings products market during the forecast period.
- Currently, marine flooring and deck coverings are being designed from light-weight and non-slippery materials that offer greater resistance to ultra-violet light. The newly developed marine flooring dries rapidly, is flame retardant, offers soil and strain resistance, and possesses excellent strength and durability.
- Marine flooring and deck coverings are offer greater noise control acoustic damping, which prevents the transmission of vibrations that are caused in the steel structure. This factor is also likely to drive the global marine & deck coverings products market during the forecast period.
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Key Drivers of Marine Flooring and Deck Covering Products Market:
- Increasing demand for esthetics in recreational boats has also propelled the demand for marine flooring & deck coverings products. Deck coverings and marine floorings are available in various colors with considerable resistance against water, sound, and UV light.
Wood Segment to Offer Attractive Opportunities
- In terms of volume and value, the wood segment of the global marine flooring & deck coverings products market is projected to expand at a rapid pace during the forecast period
- Wood is widely used in marine flooring & deck coverings due to its easy availability and excellent physical properties such as durability, comfort, esthetics, and sustainability
- Wood is less affected by moisture, as compared to plastic composites, concrete, or metal. Wood swells significantly lesser than concrete or metal, which reduces the maintenance cost associated with it.
- Wood can also be regrown, recycled, and disposed without hampering the environment and hence, it is widely preferred by manufacturers of marine flooring & deck coverings
High Cost of Marine Flooring to Hamper Market
- The global marine flooring and deck coverings products market is primarily hampered by the high cost of marine flooring and deck coverings. In the marine industry, regular maintenance of floorings and deck coverings is also a major challenge, which is likely to restrain the marine flooring & deck coverings products market.
Asia Pacific to Hold Major Share of Global Marine Flooring and Deck Covering Products Market
- Asia Pacific accounted for leading share of the global marine flooring and deck covering products market in 2018, due to a rise in the demand for marine boats, ships, and cruises for tourism. China is the major country in the region and also fastest country in the Asia Pacific region.
- Rise in FDI investment in the marine industry in developing countries of Asia Pacific is another factor that is likely to fuel the market in the region during the forecast period
- Europe and North America accounted for a significant share of the global marine flooring and deck covering products market, owing to the rising demand for cruises and recreational boats from the travel industry in these regions.
- Middle East & Africa is anticipated to be the rapidly expanding market for marine flooring & deck covering products during the forecast period. The market in the region is undergoing a developing stage and key players are investing heavily in the market in this region in order to expand their presence in the region and gain higher market share.
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Key Players in Marine Flooring and Deck Covering Products Market:
Key players operating in the global marine flooring and deck covering products market include:
- Saint-Gobain Weber Marine
- Flexiteek International AB
- Sika AB
- Dex-o-tex Marine
- Tiflex Group
- Forbo Flooring Systems
- Bergo Flooring AB
- Better Life Technology, LLC
- BSW Berleburger Schaumstoffwerk GmbH
Global Marine Flooring and Deck Covering Products Market: Research Scope
Global Marine Flooring and Deck Covering Products Market, by Type
- Epoxy Resins
Global Marine Flooring and Deck Covering Products Market, by Position
- Internal deck covering
- External deck covering
Global Marine Flooring and Deck Covering Products Market, by Application
- Cruise ships
- Work boats
- Recreational boats
Global Marine Flooring and Deck Covering Products Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.