Study Predicts Leisure Boat Marine Coatings Market Will Reach $1.9 Billion by 2024
SHELBYVILLE, DE — According to a new report offered by Global Market Insights Inc., the leisure boat marine coatings market is forecast to reach a revenue of $1.9 billion by 2024 with a projected compound annual growth rate (CAGR) of 6.5% over the period of 2017 to 2024.
The study reports that high growth in the Asia-Pacific tourism sector will augment development of the leisure boat marine coatings market during the forecast period. Asia-Pacific continues to be one of the fastest growing tourism regions in the world, with tourist arrivals growing by close to 6% annually and totaling approximately 279 million in 2015, up from approximately 110 million in 2000. According to the United Nations World Tourism Organization, this number will likely reach 535 million by 2030.