According to the report, the global marine gel coat market generated $4.2 billion in 2022, and is anticipated to generate $7.5 billion by 2032, rising at a CAGR of 6.1% from 2023 to 2032.   

Allied Market Research has recently published a report, titled, “Marine Gel Coat Market Size, Share, Competitive Landscape and Trend Analysis Report by Gelcoat Type, by Resin Type: Global Opportunity Analysis and Industry Forecast, 2023-2032.”   

Prime Determinants of Growth   

The capacity of marine gel coat to establish a protective barrier on the surface of marine vessels, increased number of shipbuilding activities worldwide, and the growing demand for leisure boats, luxury yachts, and marine vessels are the factors expected to drive the growth of the global marine gel coat market in the forecast period from 2023 to 2032. However, vulnerability of marine gel coat to various external factors, such as UV exposure, salinity, and extreme weather conditions, and complex application techniques may hinder the market growth in the coming future. On the contrary, the rising consumer preferences for customized & personalized boat designs and the advances in marine gel coat formulations technology are expected to offer remunerative opportunities for the expansion of the marine gel coat market during the forecast period .   

Leading Players in the Marine Gel Coat Market: