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Marine fender is a protective type of marine equipment used to prevent ships, boats, yacht, and other naval vessels from colliding against each other or against dock, wharves, and piers. They are also known as marine bumpers. It is designed to absorb the energy that vessel transfers to a berthing structure avoid damage to ships. The main aim of installing marine fender is to protect both vessels and dock from significant failures during the berthing structure. Marine fenders are very substantial in the maritime industry as substantial trade around the world use marine transportation to export/import their goods. The United Nations Conference On Trade & Development stated in its report 2019 that total volumes amounting to 11 billion tons reached in 2018 despite the economic setback. Moreover, the expansion of marine vessels in the navy, offshore E&P activities, and offshore wind power installation is projected to offer a profitable market.
The marine fender market is bifurcated into type and installation location. Type is further rubber fender, foam fender, and composite fender. Rubber fender expected to account for the highest demand due to its ability to sustain in harsh environmental conditions and high cushioning effect to prevent damage to vessels or ships. The fender is either installed on the ships or docks. Ship fenders are made up of stronger material than those used in the dock because ship fenders exposed to a more challenging environment.
Key Market Driver -
Expansion of marine trade around the world
Key Market Restraint -
Frequent maintenance for durable operation
The international shipping industry is responsible for the carriage of 90% of the trade around the world, which emphasizes the maritime sector. Expansion of trade among countries, growing investment in shipbuilding & infrastructure as well as enlarging budget for defense naval vessels is set to drive the market. Also, the increasing offshore wind power installation and offshore E&P activities likely to boost the demand for the marine fender to prevent damage to ships or vessels.
Harsh environmental conditions and saline water likely to deteriorate the quality of the rubber. Thus, frequent maintenance is required for the fender to improve operational efficiency that likely to inhibit the market.
The major marine fender companies in the market are Trelleborg Marine & Infrastructure, Fendercare Marine, Schuyler Companies, J.C. MacElroy Company, Inc., Bridgestone Americas, Viking Fender, Qingdao Jier Engineering Rubber Co., Sumitomo Rubber USA, Sea & Tec Co., Ltd., Prosertek, and The Yokohama Rubber Co., Ltd.
The marine fender market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. America’s maritime industry plays a significant role in shaping the economic progress of the region. The growing trade across the country increases the demand for ships. Simultaneously, increasing offshore infrastructure such as wind farms, oil & gas, etc. is projected to propel the demand for marine fender.
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European nations widely use the seaborne route for trading. The growing seaborne trade, along with increasing offshore construction activities, are expected to fuel the market. Asia Pacific is depot to some of the giant shipbuilding companies in the world. The region has extensive seashore, which used by several countries for transportation and trading of goods. Also, China is persistently investing naval ships and offshore infrastructure that set to bode the market.
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