Marine Sealants Market Major companies are Bostik, 3M, Dow Corning, Sika AG, Henkel AG and SABA

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Marine Sealants Market To Cross 65 kilo tons by
2024
Marine Sealants Market 2016 2024 Market Size
USD 200 Mn in 2016 Forecast Market USD 330 Mn by
2024
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Global Market Scenario of Marine Sealants Industry

• Marine Sealants Market size is estimated to
  exceed USD 330 Million by 2024 according to a
  new research report by Global Market Insights,
  Inc.
• Growth in global trade for crude oil, coal and
  other resources along with rapid globalization
  will propel the marine sealants market growth.
  Seaborne trade accounts for 90 of the overall
  international trade. Increasing global GDP
  coupled with recovery from economic crisis will
  stimulate the industry growth.
• Rising food demand resulting in increasing grain
  trade will open new avenues for business growth.
  U.S. is anticipated to account for 40 of the
  global grain exports by 2030. Moreover,
  increasing number of trade routes is expected to
  boost the industry demand.
• 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.

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• 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.
• Increasing manufacturers focus on safety along
  with regulatory compliance remain the key factors
  driving the marine sealants market. However,
  economic uncertainties affecting the global trade
  may pose a challenge for industry growth.

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• Application Analysis-
• Deck to hull application generated more than 20
  kilotons in 2016. Short clamping time, high
  strength, solvent free and superior performance
  under high temperature will support the business
  growth.
• 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.

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• Regional Analysis
• 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 RD 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.
• Competitive Analysis
• 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 Related Report Adhesives and Sealants
Market https//www.gminsights.com/industry-analys
is/adhesives-and-sealants-market-report
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Latest Research Report On Marine Sealants
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is/marine-sealants-market Request for sample
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