APAC Marine Coatings Market Valuation to Hit US$12 Billion by 2024 : GMI

SELBYVILLE, DelawareAug. 22, 2019 /PRNewswire/ — The marine coatings market demand by 2024 will rise exponentially driven by rapid surge in trade activities worldwide has led to increase demand from the shipbuilding sector. According to International Marine Organization (IMO), over 90% of global trades are conducted via ships. Meanwhile, the International Transport Forum (ITF) Outlook 2019 estimates that the global freight volumes are likely to increase by 11% by 2050 owing to rapid growth in e-commerce activities.

Basically, marine coating is a type of protective coating used to protect ships, tankers, vessels and other materials from corrosion caused to continuous exposure to saline/fresh water. It offers superior protection to ship’s surface material from corrosion that has a significant impact on sea carriers and their longevity.

Read the article at: Yahoo! Finance

Recent Articles