Marine coatings are used in marine environments for protection against corrosion, fouling, and UV radiation. The protection of the ship both above and below the waterline is crucial. Above the waterline, marine coatings help prevent damage due to UV radiation. Moreover, application of marine coatings below the waterline help prevent fouling and corrosion. An increase in life of marine vessels and equipment is observed on application of marine coatings. This is driven by both the marine and oil & gas industry. Increasing demand for energy in emerging economies of India, China, Indonesia, Philippines and ASEAN has boosted exploration and production activities in this region. Moreover, demand for goods has been followed by increased shipping and shipbuilding activity in this region which in turn has driven the marine coatings market. In addition, the development of this region as a low cost manufacturing zone has also increased shipping.

North America and Europe are the largest markets for boats, yachts and cruise liners, though these account for a relatively small market share in the marine industry. The luxury cruise liner segment is the fastest growing in these regions. Middle East and North Africa are crude oil rich zones. The oil tanker segment is a major player in this region. The oil produced in these regions is exported to Asian, European and North American markets.

Latin American market has witnessed growth in both energy and marine industry. Though growth is sluggish due to complex trade laws between countries and poor port infrastructure. But, increased private sector engagement in modernization of ports and regulatory improvements can be a driver for the marine industry.

And There are Some Major players in the marine coatings market include Nippon paint marines Co. Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., AkzoNobel NV, DuPont, Axalta Coating Systems, Engineered marine coatings LLC, Chugoku Marine Paints Ltd., Advanced Marine Coating AS, KCC Corp., Kansai Paint Co. Ltd.