Report Estimates Marine Coatings Market in Europe to Reach $2 Billion by 2025
PUNE, India – According to business research firm Graphical Research, Pune, India, the marine coatings market in Europe is estimated to exceed $2 billion by 2025.
Marine coatings products increase a vessel’s life by preventing biofouling and corrosion. Many manufacturers in countries such as the UK, Belgium and Spain are producing new coatings with foul-release technology that provide substantial fuel savings, especially for large cargo ships. Companies are developing eco-friendly coatings such as metal-free antifouling agents to help sustain aquatic life and control oceanic pollution. According to the study, these factors will positively drive the European marine coatings market size into 2025.