Flourishing Shipbuilding Industry in Asia Pacific Drives Demand for Marine Coatings, Global Market to be worth US$11.8 bn by 2020
The latest report published by the market research firm Transparency Market Research, titled “Marine Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, is a professional and in-depth study of the global marine coatings market.. The report provides historical data for 2013 and presents projections for the years between 2014 and 2020. The report presents an overview of the key driving and restraining factors of the marine coatings market, along with an overview of the key trends of the past and those of the current times, and analyzes their impact on the market’s overall development. The report states that the market, which had a valuation of US$7.65 bn in 2013, will grow at a healthy 6.5% CAGR between 2014 and 2020 and rise to US$11.88 bn by 2020. The report credits expanding global marine trade activities for the market’s healthy growth prospects. Rising ship repair and maintenance activities are also projected to present gro...