Rockville , May 03, 2023 (GLOBE NEWSWIRE) -- The global phenalkamine market is set to reach a valuation of US$ 699.2 million in 2023 and is expected to grow at a CAGR of 4.8% during the forecast period of 2023-2033.

Rising demand for marine transportation is likely to have a positive impact on the phenalkamine market. Phenalkamines are widely used in marine coating manufacturing. It is used to protect ships, vessels, tankers, and other materials from the saline atmosphere. It provides superior long-term protection to surfaces it is applied. This is anticipated to boost the demand for phenalkamine in the coming years.

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Also, the growing construction sector across developed as well as developing countries are expected to lift the phenalkamine market. Phenalkamines are widely used in construction coatings that help to protect surfaces from various external environmental elements such as UV rays, sunlight, dust, and acid rain.

Hence, increasing investment in the construction and infrastructure sector creates a positive environment for the growth of the phenalkamine market. Governments across multiple countries are spending over 5% of their gross domestic products on the construction sector.

Key Takeaways from Market Study

“Investment in Construction and Infrastructure Coupled with Growing Marine Ship Industry to Creates a Positive Environment for Phenalkamine Market Growth” says a Fact.MR analyst.

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Key Companies Profiled in Phenalkamine Market Report

Some of the leading players in the phenalkamine market are focusing on investing in research and development activities for developing newer technologies and processes to meet the ever-changing industry. Market players are also looking for increasing their product portfolio for use in various end-use applications. Some of the market players are focusing on increasing their global presence.

Market Growth Strategies

Manufacturers in the phenalkamine market are focusing on increasing their production capacity to meet the growing demand for coatings from various end-use applications. Manufacturers are also looking to invest in research and development activities for identifying new end-uses of phenalkamine and improving product performance.

Manufacturers are also looking to increase their global presence, especially in the Asia Pacific region where demand for coatings is increasing from the construction as well as the marine industry.

Segmentation of Phenalkamine Industry Research

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the phenalkamine market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of application (coatings (marine, protective, industrial, transportation, pipe), building & construction adhesives), viscosity (cPS) (0-10,000, 10,000-50,000, and above 50,000), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

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