Marine Strip Market: Overview and Dynamics
The marine strip is a water-soluble paint and powerful anti-fouling striper which is used to remove different types of paints such as lead paint, enamel paint, acrylic paint, two pack paint etc., latex, enamels, teak oil finish, Varnishes, urethanes, rubber-based deck paints and lacquers. These strips are biodegradable, non-flammable with little to no odor
Strips can be used on different surfaces such as marbles, concrete, wood, brick, stone and plaster. Marine strips are made of specialty chemicals which makes the strip useful for multiple applications. Earlier methylene chloride is the active ingredient in most of the strips used in the market. Since methylene chloride is the carcinogenic, chemical companies have started developing safe strips which are safe to use.
The increasing use of marine strips by the owners and leading companies of marines and ships is leading factor for the growth of marine strip market. Furthermore, the technological advancement in the marine strip manufacturing which provide safety and easy usability features are projected to fuel the evolution of global marine strip market.
However, high cost of marine strips and presence of methylene chloride, which causes cancer, is the restraining factor which is hampering the demand in the marine industry. Strips which takes much time in removing less than five to six coating are considered as inefficient. There are various safety measures need to be taken care at the time of striping otherwise it can create serious issues related to respiratory, skin, eye etc. owing to which most of time marine and ship owners avoid to use marine strips which is set to create a negative impact on the marine strip
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A hefty share of sales in global market is predicted form marine vessels. Improvement in the quality of chemicals used in production of marine strips to reduce side effect on human body will help manufactures to lead the global marine strip market. Increasing R&D activities for developments with a lessening in the production cost of marine stripers and improving the quality of chemicals is projected to create new openings for market players functioning in the global marine strip market over the forecast period.
Every marine vessel require paint once in a year or two years and most of the consumers buy marine paint strips to remove the paint after minimum seven to eight layers of paints. So, paint strips are used once in five to eight years. The extreme use of methylene chloride can become threat for the marine strip market it should be replaced with safe and good chemicals which will not harm human lives.
Global Marine Strip Market is experiencing massive decline as COVID-19 Outbreak
The recent COVID-19 pandemic has emaciated many countries worldwide, chemical industry have hit badly owing to the Covid-19 pandemic. Marine strip industry will likely to steady by the end of second quarter of 2021. An impact of Covid-19 on paint strip market will be temporarily due to disturbed trade and import export of chemicals. Moreover, halted operations and production of such facilities likely to create demand and supply gaps which impact negatively on the sales of marine strip market for present year.
The condition of few countries has been improved where few are still struggling with the lockdown and surge in the COVID-19 positive case. Regions Europe, North America, Asia where countries like Italy, Spain, India, are seeing the rapid growth in the case due to second wave of COVID-19 which is not the good news for the different industries as well as chemical industry including marine paint strip market.
With the falling growth rate in global economy, the Marine paint strip industry has also suffered a certain impact. Global marine paint strip market is prominently linked to and dependent on the Chinese imports and exports for its raw material requirements. Interruption in supply chain affect manufacturing costs. However, the impact continues or worsens, there could be serious input shortage, leading to an inclination in costs or even break in marine strip production. The sales of marine paint strip likely to surge during the first five years of forecast period.
Marine Paint Strip Market: Regional Outlook
Based on production, consumption and supply, regions are segregated into six major regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa.
East Asia especially South Korea is anticipated dominate the demand pie of the marine strip market owing to the largest shipbuilding industry positioned in the country. Key consumers of the marine strip in the country are Hyundai Heavy Industries, STX Group, DSME, Samsung Heavy Industries, HANJIN HEAVY INDUSTRIES & CONSTRUCTION CO LTD., Daehan Shipbuilding, Sungdong and others. Over the past-half decade, Korea has maintained its stance not only in East Asia but also across globe.
Followed by South Korea, Japan is anticipated to hold potential shares in shipbuilding and marine industry. Procurement of the marine strip arises from the key players in the country are Mitsubishi ShipBuilding CoLTD, Sumitomo Heavy Industries, Oshima Shipbuilding Co., Ltd., Imabari Shipbuilding, Tsuneishi Holdings and Imari Shipyard. These companies have observed strong profitability growth over the past-half decade and thereby, connecting dots of the supply chain leads to strong marine strip market in the country.
Followed by East Asia, North America and Europe together are set to contribute the demand share less than quarter of the marine strip market.
Marine Paint Strip Market: Competition Outlook
With the market growth, Competition has also observed growth on a same pace in all the regions. Fact.MR has analyzed the global market from the production as well as demand side. The key players in the regions identified and tracked the strategies adopted by them.
Major players operating in the market include
- W M Barr & Co Inc
- Sea Hawk Paints
- Dumond Global
- Marine strip
- Boat Cleaner Pro (BPC)
- Teakdecking Systems
- Epifanes NA Inc.
- west system
- sunnyside corp.
- Axalta Coating Systems
- Nippon Paints
- PETTIT paints
- MDR amazon’s
- Jasco chemicals
- Veneziani Yachting
- Boero YachtCoatings
are the established players who are expanding their manufacturing unites and supply chain globally and creating robust competition.
Companies like AkzoNobel is one of the leading marine paint strip producer under different brands such as International Yacht Paint, Devoe Coatings etc. total boat is expanding its supply chain using third party and online distributors where other key players also using different modes of selling. Marine paint strip market is highly lucrative where other players are looking towards the way to enter at any cost. It is anticipated to grow more than five percent CAGR in the forecasted period.
Segmentation Analysis of Marine Strip Market
The global marine strip market is bifurcated into four major segments: by paint type, material surface, end-use industry and region.
Based on paint type, marine strip market has been segmented as follows:
- Lead Paint
- Enamel Paint
- Acrylic Paint
- Two Pack Paint
- Powder Coating
- Marine Varnish
- Two Pack Marine Varnish
- Engine Oil
- Etched Primer
Based on Material Surface, marine strip market has been segmented as follows:
- Ply Wood
- Solid Wood
- Stainless Steel
- Cast iron
- Gel Coat
Based on end-use, marine strip market has been segmented as follows:
- Small Boats
- Large Boats
- Boat Trailers
- Brite Work
Based on geographic regions, marine strip market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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