Ship Coatings Market Continues to Grow Driven by Demand for Sustainable Solutions

PPG's shipbuilding, dry dock, protective and marine coatings department manager Ariana Psomas stated that the ship coatings market has been growing due to increasing demand for high-quality and sustainable solutions.

Psomas said, "This is particularly evident in the dry dock sector, driven by strong demand for cleaning products. In the new shipbuilding sector, we are seeing an increase in ship orders, and we expect this trend to continue to meet the demand for more efficient vessels."

Mads Raun Bertelsen, Senior Manager of Marine Solutions at Hai Hong Senior Ship, pointed out that the ship coatings market has been strong this year due to the new regulations from the International Maritime Organization (IMO) to improve energy efficiency, as well as the continued increase in shipping activities following the COVID-19 pandemic.

Chris Birkert, Manager of AkzoNobel's Marine Department, stated that opportunities in new shipbuilding have improved, but sustained growth is highly dependent on the availability of new ship berths.

Birkert said, "As the overall fleet size continues to grow, freight rates remain strong, and efficiency continues to be a focus, we see a growing demand for high-performance hull solutions and the importance of underwater hull cleaning solutions such as International Hull Performance."

As most shipbuilding occurs in Asia, it is naturally the strongest ship coatings market. "China, Korea, and Japan are obvious regions where the largest shipbuilding and dry dock facilities are located," Birkert said. "Trade disruptions and available slots mean that some regions in the Middle East and Europe have increased demand for M&R coatings. Ships will dock at both ends of the shipping route, and since the volume of trade going in and out of China is the largest, it makes sense for them to dock there to minimize costs."

Psomas said, "Asia continues to dominate new ship and offshore asset construction, as well as being home to some of the largest ship maintenance and repair facilities. Shipowners operate globally, but for commercial newbuilds - container ships, bulk carriers, and tankers - the majority of construction will take place in North Asia. The only exception is cruise ships and ferries, where Europe maintains a major market share, particularly for cruise ships - shipowners want a luxurious appearance and very high specifications, which is what European shipyards excel at."

As we emerge from the COVID-19 pandemic, part of the growth in the cruise industry is the repainting of cruise ships. Birkert said that AkzoNobel is seeing activity in the cruise ship market as more ships come out of mothballs. "Many shipowners have already done a lot of remedial work to maximize their time at sea, especially in surface repairs and onboard maintenance. Ship efficiency and carbon intensity are also of interest to the cruise industry, as underwater hull cleaning can reduce resistance, thereby reducing fuel and carbon emissions."

Psomas stated that PPG has noticed an increase in repainting all ships, driven by new greenhouse gas regulations CII and EEXI and the expected EU Emissions Trading Scheme push. Psomas added, "All shipowners are increasingly focused on solutions that can help them improve efficiency and contribute to achieving sustainable development goals, such as our non-biocidal antifouling silicon release coating PPG SIGMAGLIDE 2390."