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Ship Decorative Panels Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 130 Views
 
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Ship Decorative Panels Market Analysis 2020-2027:

Ship decorative panel is made of aluminum, wood, steel, and other metals. Ship decorative panels are durable and luxurious finish materials used as a floor or ceiling covering in a ship. They exhibit fire resistance and acoustic insulation properties. Majority of the ship decorative panels are inherently waterproof, making them the preferred choice for marine application. They are considered as decorative panels due to the recent innovations such as resemblance to ceramic or other contemporary looks. 

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Application, Material, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa

  Companies covered

King Plastic Kuiper Holland - Dutch Marine Panels, Mineralka d.o.o., Nord Compensati, Permateek, Retronic, Van Stijn Rijnwoude B.V., VETUS, Directeck, Drumarkon, Flexiteek International AB, GERFLOR,
Gerhard Wonnemann Holzwerk GmbH, World Panel, and
YACHTLITE

 

COVID-19 impact analysis

The global market for ship decorative panels is severely impacted by the outbreak of the COVID-19 pandemic. The COVID-19 pandemic impacted the economic growth in almost all the major countries, thus affecting consumer spending patterns. There have been complaints of shipment delays between India and China. Furthermore, serious concerns have been faced regarding the overall earnings of Indian shipping companies in the first quarter of 2020. A sharp drop in the dry bulk cargo movement since the third week of January 2020 has been reported, as the shutdown in China has shuttled marine operations. The similar scenario is being experienced by other neighboring countries of India, thereby affecting the marine trade as well as tourism. With no marine operations, the demand for ship decorative panels has been declining considerably. 

Top impacting factors: market scenario analysis, trends and drivers 

Ship decorative panels are majorly used in cruise ships due to their durability, trend, and availability with built-in adhesives. Increase in trend for sea travelling, tourism, and vacation has led ship owners to spend on improving the aesthetics. Thus, ship decorative panels are witnessing increased adoption to increase attractiveness of ships, thereby driving the growth of this market.  

Among all types of ship decorative panel materials, luxury vinyl panels are the trending luxury grade flooring in the market. This can be highly attributed to the high quality and great values associated with them. Moreover, shipping of goods via cargos is comparatively economical than shipping via air. This factor further supplements the growth of this market, as sea trade has grown substantially.  

However, high cost of installation related to ship decorative panels emerged as the key factor restraining the growth of this market. On the contrary, innovation in the panel design is expected to offer profitable growth opportunities during the forecast period. Introduction of waterproof, scratch resistance, and rust proof Panels is anticipated to be opportunistic for the market.  

Key segments covered

Segment

Subsegment

  Material

  • Vinyl
  • Wood
  • Metal
  • Others (Mineral Wools, Glass, and Others)

  Application

  • Ship Partition Walls
  • Boat Decking
  • Ship Floors
  • Ship Ceilings
  • Veneer
  • Decorative
     

 

Key benefits of the report

  • This study presents the analytical depiction of the global ship decorative panels market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global ship decorative panels market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global ship decorative panels market research report:

  • Which are the leading players active in the global ship decorative panels market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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