Increasing demand for marine coatings from the shipbuilding industry in emerging economies such as China, India, and Brazil, is expected to fuel the growth of the marine coatings market across the globe. The marine coatings market is also expected to grow because of the rising demand for reduced fuel consumption in cargo and cruise ships. The need to reduce fuel consumption is also expected to drive the market.
The market is witnessing a significant growth because of the growing demand from various industries such as automotive & transportation, construction & infrastructure, and electrical & electronics. Basalt fiber provides various properties such as high strength, chemical resistance, durability, mechanical strength, and low water absorption.
The demand for peracetic acid is increasing due to its rising penetration in major end-use industries, such as food & beverage (food processing & packaging and others), healthcare (hospitals & health care facilities, veterinary hospitals, pharmaceutical facilities, and others), water treatment (wastewater treatment and others), and pulp & paper (anti-slime, bleaching agent, and others) across the globe. This demand is expected to fuel the growth of peracetic acid market in the near future.