India Marine Coatings Market to Grow with a CAGR of 10.70% through 2030
Expansion of Shipbuilding
and Ship Repair Industry and Development of Ports and Maritime Infrastructure
Industry are expected to drive the India Marine Coatings Market
growth in the forecast period, 2026-2030.
According to TechSci Research report, “India Marine
Coatings Market – By Region, Competition, Forecast & Opportunities, 2030F”,
the India Marine Coatings Market stood at USD 584.09 INR Crore in 2024 and is
anticipated to grow with a CAGR of 10.70% in the forecast period.
The Indian Navy and Coast Guard are undergoing a
significant fleet expansion, which is generating sustained demand for advanced,
high-performance marine coatings. As the Ministry of Defence accelerates the
modernization of its maritime assets, there is a clear shift toward coatings
that offer superior durability, anti-corrosion protection, and stealth
functionality, particularly for strategic and combat vessels. These specialized
formulations are critical not only during construction but also for routine dry-docking
and scheduled maintenance, ensuring consistent and recurring consumption across
the defense segment.
India’s intensified focus on offshore hydrocarbon
exploration, especially in high-potential zones like the Krishna-Godavari Basin
and Mumbai High, is further driving the need for robust, chemically resistant
coatings. Offshore structures such as FPSOs, drilling rigs, and deep-water
platforms operate in some of the most corrosive environments, necessitating the
use of high-grade epoxy and polyurethane systems that can withstand prolonged
exposure to saltwater, temperature fluctuations, and aggressive operational
conditions. The Indian marine sector is becoming increasingly conscious of fuel
efficiency, operational optimization, and environmental compliance. Antifouling
coatings play a pivotal role by minimizing biofouling on hulls, thereby
improving hydrodynamic efficiency and reducing fuel consumption an increasingly
important factor as fuel prices rise and international emissions standards
tighten.
Despite growing environmental awareness and a shift
toward low-VOC, high-solids, and waterborne formulations, India continues to
grapple with fragmented regulatory enforcement. In contrast to the structured
frameworks in the EU and North America, India lacks centralized legislation
specifically governing marine coatings particularly those involving toxic
biocides and heavy metals.
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The India Marine Coatings Market is segmented into resin,
product type, application, regional distribution, and company.
Based on its application, the Cargo Ships segment has
emerged as the predominant market leader, Cargo ships including bulk carriers,
container vessels, oil tankers, and general freight ships form the backbone of
India’s maritime logistics ecosystem, handling a significant portion of the
country’s import-export activity. These vessels require comprehensive and
recurring marine coating systems throughout their lifecycle.
Cargo ships operate continuously and are exposed to
aggressive marine environments, including high salinity, humidity, and varying
temperatures. This exposure makes them especially vulnerable to corrosion,
fouling, and structural degradation, thereby necessitating regular application
of protective coatings such as epoxy primers, antifouling paints, and
polyurethane topcoats. These vessels undergo scheduled dry-docking every 2 to 5
years, depending on their operating conditions and classification requirements.
Each maintenance cycle involves comprehensive hull recoating, ballast tank
protection, and internal structural treatment, resulting in high-volume
consumption of marine coatings.
India’s total cargo throughput continues to grow
annually, supported by key ports such as JNPT, Mundra, Visakhapatnam, and
Kandla. This growth drives the expansion and renewal of cargo fleets, including
coastal cargo vessels and long-haul container ships each of which adds to the
demand for long-lasting and fuel-efficient coating systems.
Major companies operating in India Marine Coatings Market
are:
- AkzoNobel India Ltd.
- Jotun
- PPG Asian Paints
- Nippon Paint
- Kansai Nerolac
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“The
India Marine Coating Market is poised for steady and long-term growth, driven
by strategic investments in shipbuilding, defense modernization, port
infrastructure, and offshore energy development. As the country strengthens its
position as a regional maritime hub, demand for high-performance,
environmentally compliant coating solutions will continue to rise. However,
unlocking the market’s full potential will depend on localized raw material
capabilities, regulatory standardization, and continued innovation in advanced
coating technologies. Companies that align with these evolving dynamics will be
well-positioned to capitalize on the expanding opportunities within India’s
marine ecosystem”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“India Marine Coatings
Market By Resin (Epoxy, Polyurethane, Alkyd, Others), By Product
Type (Anti-Corrosion Marine Coatings, Antifouling Coatings, Others), By Application
(Passenger Ships, Cargo Ships, Boats, Others), By Region, Competition, Forecast & Opportunities,
2020-2030F”, has evaluated the future growth potential of India
Marine Coatings Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Marine
Coatings Market.
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