Asia-Pacific marine coatings boom

New analysis from Frost & Sullivan says that the market earned revenues of US$4.84bn in 2012 and it’s estimated to reach US$6.69bn in 2016.

South Korea, Japan and China are flexing their might in terms of shipbuilding and is a top choice for coatings manufacturers too since the downturn in Europe and America led to shipbuilding activities moving further east.

The report warns though that costs will continue to rise for the raw materials used in these coatings.

Sijmen Visser, Global Marketing Manager Marine, PPG Protective and Marine Coatings told The Motorship that despite a recent upturn in ordering by European owners, short term conditions remain challenging for coatings makers.

“Success on a global basis depends on a combination of factors: relationships with the shipyards and understanding of owners’ needs are of course paramount. Costs are being closely watched but owners also see the value of coatings that deliver superior long term performance, measurable fuel savings and that can meet their environmental profile too.”

A supplier such as PPG, which develops products based on its own research and has local production close to centres of demand will have an edge when it comes to fulfilling the market’s needs, he said.

“When it comes to new products we can base our programme on direct feedback from the market. This approach has resulted recently in additions to the SYLADVANCE™ and SIGMA NEXEON™ ranges, which reflect growing specialisation in vessel applications as well as an increasingly strong environmental focus,” he added.

More information on the analysis from www.chemicals.frost.com