Global Marine Sealants Market will surpass 65 kilo tons by 2024.: Global Market Insights, Inc.

Marine Sealants Market Size By Material (Silicone, Polyurethane, Polysulfide, Butyl), By Application (Above Water-Line Sealing, Below Water-Line Sealing, Deck To Hull, Window Bonding), By Type (Cargo Ships, Tankers, Passenger Ships, Fishing Vessel, High Speed Craft), By End-Use (Shipbuilding, Repair) Industry Analysis Report, Regional Outlook (U.S, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Norway, Poland, Sweden, Finland, China, India, Japan, South Korea, Thailand, Singapore, Br

SELBYVILLE, Del., Dec. 13, 2017 /PRNewswire-iReach/ -- Marine Sealants Market share was led by polysulfide accounting for over 50% in 2016. Durable elastomeric seal along with superior properties under prolonged immersion conditions has stimulated the product penetration. Potential applications in assembly of fishing vessels, heavy duty ships, and cruises will drive the overall industry size.

3M, one of most renowned giants partaking in Marine Sealants Market share is reputed for consistently innovating new sealant systems for marine applications, pertaining to the vast expanse of shipbuilding activities across the globe. The multi-billion-dollar company recently formulated a new polishing compound designed to enhance surface glass fiber hulls. This innovation is a prime instance demonstrating the fact that the increasing introduction of advanced products in marine sealants industry is likely to help companies expand their consumer pool.  

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Strong outlook in both shipbuilding and repair applications has enhanced the product demand. Increasing product usage in passenger ships, cargo ships, tankers and military ships production will drive the industry size. Superior vibration damping, watertight isolation, waterproofing along with high bonding and caulking properties are supporting the product penetration.

Shifting focus towards naval power along with increasing necessity for coastal security has driven the demand for military ships and submarines. Increasing government investments on navy due to growing potential for conflicts will further encourage the product demand. Expansion in tourism industry along with rising initiatives to develop tourist ambience particularly in European countries will fuel the yachts, cruises and passenger ships demand.

Marine sealants market from shipbuilding exceeded USD 140 Million in 2016. Growth in global shipbuilding of bulk carriers, tankers, LNG and container ships will drive the demand. High product scope in deck to hull and above waterline applications will propel the industry growth.

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Cargo ships accounted for more than 55% of the global marine sealants market share in 2016. Expansion in seaborne fleet along with increasing shipments for numerous consumer products has fueled the industry growth. Tankers are estimated to witness gains over 3.5% up to 2024. Increasing trade of natural gas, crude oil, LNG, product oil will propel the marine sealants market growth. Europe market is estimated to worth over USD 150 Million by 2024. Changing lifestyles along with shifting government focus on tourism development are the key driving factors of the industry demand.

North America marine sealants market will grow at 3.8% up to 2024. Increasing R&D spending and technological advancement to develop application specific products has enhanced the product penetration. Additionally, increasing shipbuilding orders for military ships is the key factor driving the regional demand.

Global industry share is highly competitive with the key industry players including Bostik, 3M, Dow Corning, Sika AG, Henkel AG and SABA. Product innovations for sustainable & ecofriendly applications along with joint ventures and acquisitions are the key strategies adopted by the manufacturers.

Browse key industry insights spread across 300 pages with 352 market data tables & 12 charts & figures from the report, "Marine Sealants Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/marine-sealants-market

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Aerospace Insulation Market size was worth over USD 2.8 billion in 2016 and is projected to cross 270 kilo tons by 2024. High demand for lightweight materials for overall aircraft weight reduction coupled with significant growth in military & commercial aerospace sector will support the aerospace insulation market size from 2017 to 2024. In 2016, global air passenger traffic crossed 3.5 billion with a growth of over 7% from the previous year.

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Construction Sealants Market Forecast, 2017 – 2024

Construction Sealants Market size was above USD 4.5 billion in 2016 and industry expects consumption of over 700 kilo tons by 2024. Increasing application scope in residential & public infrastructure mainly in India and China owing to low VOC content, corrosion resistance, adhesion insolubility along with compliance to green building norms should drive construction sealants market size. China construction spending was over USD 1.5 trillion in 2014.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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2018

Categories

Science & Tech, Business


Tags

Maritime & Shipbuilding, Aerospace & Defense, Chemical



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