MARINE COATINGS MARKET ANALYSIS

Key Developments

• PPG's launch of PPG SIGMAGLIDE 2390 marine coating in March 2023 marked a significant advancement in the maritime industry. This innovative coating is designed to assist shipowners in reducing power consumption and carbon emissions while meeting the increasing requirements for enhanced performance without compromising the marine environment. By utilizing PPG SIGMAGLIDE 2390, ship operators can achieve improved fuel efficiency, lower operational costs, and contribute to a more sustainable shipping industry.
• Hempel's decision to join the International Maritime Organization's (IMO) Global Industry Alliance (GIA) for Marine Biosafety in March 2023 signifies a proactive step towards addressing key environmental challenges in the maritime sector. By collaborating with the industry through the GIA, Hempel aims to contribute to efforts aimed at reducing shipping emissions and combating the spread of invasive species.
• In December 2021, AkzoNobel N.V. finalized its complete acquisition of New Nautical Coatings as a strategic move to sustain a strong position in Yacht coating business in New York, U.S.
• In September 2021, the Eastern Coatings show organized by Eastern Coatings Federation was postponed to November (17-19 likely) 2021 so as to allot time for complete vaccination of its members, sponsors, and partners to ensure a safe environment for the conference