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Ship Decorative Panels Market-Segmentation By Material (Vinyl, Metal, Wood, and others), By Application (Boat Decking, Ship partition walls, Ship floors, Ship ceilings, Decorative and Veneer) and Region-(North America, Europe, Asia Pacific, Latin America, Middle east and Africa) - Industry Forecast-(2023-2028)

Published: March, 2023
ID: 12335
Pages: 175
Formats: report pdf report excel report power bi report ppt

Ship Decorative Panels Market Size (2023-2028)

The Ship Decorative Panels Market size was anticipated to be valued at US$ XX billion in 2022 and is estimated to grow to US$ XX billion by 2028 and escalate at a CAGR of XX% between 2023-2028

Aluminum, wood, steel, and other metals are used to create the ship's decorative panel. Ship ornamental panels are long-lasting and elegant finish materials utilized as a ship's floor or ceiling covering. They have fire resistance as well as acoustic insulation. In addition, most ship ornamental panels are waterproof by nature, making them the best choice for marine use. Due to modern advancements, such as resemblance to ceramic or other contemporary aesthetics are classified as ornamental panels. Decorative ship panels are commonly utilized on cruise ships because of their durability, trend, and availability with built-in adhesives. As the popularity of sea travel, tourism, and vacations has grown, ship owners have begun to invest in upgrading the aesthetics of their vessels. As a result, decorative ship panels are becoming more popular to make ships more appealing, propelling the market forward and raising the global ship decorative panels market size in the upcoming years.

Luxury vinyl panels are the most popular luxury grade flooring on the market among all sorts of ship decorative panel materials. This can be ascribed in the massive sector to the high quality and high value associated with them. Furthermore, sending items by cargo is less expensive than shipping by air. Thus, these characteristics may increase the global ship decorative panels market share during the forecast period.

Ship Decorative Panels Market Drivers and Restraints:

Luxury vinyl panels are the most popular luxury grade flooring with outstanding quality and overall value among many ship decorative panel materials. Ship ornamental panels are also available in a variety of styles, such as inlaid or printed. Because the inlaid pattern runs into the depth of the flooring, inlaid-type panels maintain their color even when damaged or scratched. In addition, as gravel or concrete is embedded into the flooring, it gives it a richer and more appealing appearance. Printed-type panels are made by printing a 3D pattern or a regular pattern on a material. As a result, they significantly add to the need for ornamental ship panels, which further drives the global ship decorative panels market growth during the forecast period. Interior design is also a worldwide interest, with lifestyle trends and needs in design, architecture, and technology leading customers with modern decoration. Ship ornamental panels come in various styles and are simple to install, maintain, and clean.

Furthermore, most ship decorative panels are waterproof by nature, making them the best choice for marine applications due to new advancements, such as resembling ceramic or other current aesthetics. It's also popular on cruise ships because it's long-lasting, fashionable, and comes with built-in adhesives. In addition, increased sea tourism is likely to push ship owners into more attractive or adorned trips, boosting demand for ornamental ship panels. Furthermore, the growing fleet of ships is expected to increase demand for decorative ship panels over the forecasted period. Again, because sending goods by cargo is less expensive than shipping by air, cargo shipping has experienced significant popularity in recent years. As a result, the market for decorative ship panels is expected to rise over the forecast period.

Market Segmentation:

Ship Decorative Panels Market By Type

  • Vinyl

  • Metal

  • Wood

  • Others

Based on type, vinyl is anticipated to have the highest global ship decorative panels market share during the forecast period. Vinyl is primarily considered a versatile plastic on the planet, with applications ranging from food wrap to auto body parts. Vinyl comprises two simple ingredients: chlorine (derived from common salt) and ethylene (derived from crude oil). First, ethylene dichloride's resultant product is transformed to vinyl chloride monomer (VCM) gas at extremely high temperatures. Next, VCM is converted to polyvinyl chloride resin, a chemically stable powder, through a chemical reaction called polymerization. Vinyl materials can be recycled into new uses, lasting decades after they have served their purpose. As a result, vinyl is the most versatile and the second most popular plastic. The vinyl resin business employs over 100,000 people and generates over $4 billion in revenue. Hundreds of consumer and industrial items contain vinyl. In North America, more than 14 billion pounds of vinyl are produced each year. As a result, vinyl scrap (from polymer manufacturers and plastic processors) is collected and recycled in large quantities. Because of substantial post-industrial recycling, more than 99 percent of all created vinyl compounds are final products. As more recycling operations become prepared to handle vinyl bottles, post-consumer vinyl recycling continues to rise. In addition, the Vinyl Institute has aided in developing technologies that can automatically distinguish between two types of plastic. Therefore, owing to these factors, the global ship decorative panels market experiences significant growth and size.

Ship Decorative Panels Market By Application:

  • Boat Decking

  • Ship partition walls

  • Ship floors

  • Ship ceilings

  • Decorative

  • Veneer 

Based on application, ship floors tend to have a significant global ship decorative panels market share in the upcoming years. Sandwich material is the primary material used for designing ship floors. Various types of sandwich panels have recently been used to make bridge and ship structures. Sandwich panels are made up of two metal faceplates and lightweight inner materials. Because secondary stiffeners are reduced when sandwich panels are used in ship structures, the structure becomes less complex and diminishes the ship's self-weight. In shipbuilding and ship repair, a structural sandwich structure is commonly employed. A sandwich panel is a type of plate material designed to replace traditional stiffened steel plate structures. The panel comprises two faceplates, one of which is generally composed of metal and a lightweight core. As a result, the ship's maintenance and production process can be faster and easier with sandwich panels than with traditional construction.

Ship Decorative Panels Market Regional Analysis: 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Impact of COVID-19 on Ship Decorative Panels Market:

The COVID-19 crisis had a stable impact on the global market for ornamental ship panels. The COVID-19 epidemic slowed economic growth in nearly every major country, altering consumer purchasing patterns. There have been reports of delays in shipments between India and China. Furthermore, significant worries have been raised about Indian shipping businesses' overall earnings in the first quarter of 2020. The closure in China has shifted marine activities, resulting in a substantial decline in dry bulk cargo transportation from the third week of January 2020. Other Indian surrounding countries are experiencing a similar situation, which is harming marine trade and tourism. As a result, the demand for decorative ship panels has decreased significantly due to the lack of maritime operations.

Recent Developments in the Ship Decorative Panels Market:

Flexiteek purchased Wilks, the maker, and supplier of Dek-King synthetic teak and maritime fendering, in 2019, solidifying Flexiteek's position as the industry leader in synthetic teak and marine fendering.

Ship Decorative Panels Market Key Players:

  1. King Plastic Kuiper Holland - Dutch Marine Panels

  2. Mineralka d.o.o.

  3. Nord Compensati

  4. Permateek

  5. Retronic

  6. Van Stijn Rijnwoude B.V.

  7. VETUS

  8. Directeck

  9. Drumarkon

  10. Flexiteek International AB

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