Global Marine Adhesives Market Size study & Forecast, by Resin Type (Epoxy, Polyurethane, Acrylic, Others) by Substrate (Plastics, Composites, Metal and Others), by Vessel (Cargo Ships, Passenger Ships, Boats, Others), by Application (Deck Systems, Glazin

Global Marine Adhesives Market Size study & Forecast, by Resin Type (Epoxy, Polyurethane, Acrylic, Others) by Substrate (Plastics, Composites, Metal and Others), by Vessel (Cargo Ships, Passenger Ships, Boats, Others), by Application (Deck Systems, Glazing, Panel Bonding, Others) and Regional Analysis, 2023-2030

Global Marine Adhesives Market is valued at approximately USD 495.04 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. Marine adhesives are specialized types of adhesives or bonding agents designed for use in marine environments. They are specifically formulated to provide strong and durable bonds in applications that involve water, moisture, and exposure to harsh conditions typically encountered in marine settings. Marine adhesives offer several characteristics that make them suitable for bonding and sealing various materials used in boat construction, repair, and maintenance. These adhesives are typically resistant to saltwater, chemicals, UV radiation, and temperature fluctuations. They provide excellent adhesion to a wide range of substrates commonly found in marine applications, including fiberglass, aluminum, steel, wood, and plastics. The Marine Adhesives market is expanding because of factors such as flourishing global shipbuilding and marine industry and growing leisure marine and recreational boating Industry worldwide.

Growth in global shipbuilding and marine industry is driving the market growth. The shipbuilding industry has been experiencing significant growth in recent years, driven by factors such as increasing seaborne trade, rising demand for commercial vessels, and the expansion of offshore oil and gas exploration activities. This growth has led to a higher demand for marine adhesives, as they provide strong and durable bonds that can withstand the harsh marine environment, including exposure to saltwater, extreme temperatures, and vibrations. According to the OEC, passenger and cargo ships were the forty-fifth most traded product in the world in 2020, with trade transactions totaling USD 65.0 billion, or 0.39% of all global trade that year. According to the same analysis, marine commerce volumes are expected to triple by 2050 due to an increase in global freight demand. Additionally, according to The Baltic and International Maritime Council (BIMCO), the world's merchant fleet had a capacity of 74,505 ships at the start of 2021, distributed across 11 key sectors. In that analysis, it was also predicted that, under the basic case, by the end of 2025, there would be 79,282 vehicles in the fleet overall. Thus rising maritime trade volumes and shipment activities is driving the market. In addition, increasing export and import activities and increase in marine spending is creating lucrative opportunity to the market. However stringent Government Regulations related to industry. stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Marine Adhesives Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to factors such as rising marine spending, rising volume of marine output, rising sea trade activities. Whereas, Europe is witnessing significant growth in the market owing to factors such as rising shipping fleet, rising import and export trade activities, rising waterways travel activities in the region.

Major market player included in this report are:
LOTTE Chemical Corporation
Fujia Group
Banner Chemicals
Exxon Mobil Corporation
SK global chemical Co. Ltd.
Total Energies
GS Caltex Corporation
Royal Dutch Shell
Taiyo Oil Co Ltd.
Idemitsu Kosan Co. Ltd.,

Recent Developments in the Market:
In January 2022, H.B. Fuller announced the acquisition of Apollo, a UK-based producer of coatings, liquid adhesives, and primers for use in industrial, building, engineering, and roofing applications. H.B. Fuller anticipates that this acquisition would enable it to broaden the scope of their engineering adhesive transportation product line, which currently includes adhesives for use in automobiles, furniture, textiles, nautical vessels, and aeroplane seats.
Global Marine Adhesives Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Resin Type, Substrate, Vessel, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Resin Type offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Resin Type:
Epoxy
Polyurethane
Acrylic
Others

By Substrate:
Plastics
Composites
Metal
Others

By Vessel:
Cargo Ships
Passenger Ships
Boats
Others

By Application:
Deck Systems
Glazing
Panel Bonding
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
LOTTE Chemical Corporation
Fujia Group
Banner Chemicals
Exxon Mobil Corporation
SK global chemical Co. Ltd.
Total Energies
GS Caltex Corporation
Royal Dutch Shell
Taiyo Oil Co Ltd.
Idemitsu Kosan Co. Ltd.,

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