Marine fender market
Driven by technological advancement, marine fenders market grows with increasing trade and port upgrades
ROCKVILLE, MD, USA, September 12, 2023 /EINPresswire.com/ — The global marine fenders market share is expected to grow at a CAGR of 5% from 2023 to 2033. The global marine fender market is valued at USD 1.1 billion in the United States as of 2023 and is expected to reach USD 1.8 billion by the end of 2033.
Made of high-performance elastomers, rubber fenders are known for their abrasion and chemical resistance and play a vital role in maritime safety.They provide protection for ships, whether in port or at sea, and are versatile and can be easily adapted to a variety of ship types without the need for specialized equipment or expertise
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Leading Growth: Trends and Innovations in the Marine Fenders Market
Metal skin energy absorbers in the marine fender industry
Manufacturers in the marine fender industry are working on innovations to improve affordability and reduce environmental impact. Metal skin energy absorbers play a key role in inhibiting unplanned downtime associated with elastomeric marine fenders, protecting mooring structures and delivering economic benefits to manufacturers.
Increasing investment in R&D to integrate metal skinning mechanisms for different ship sizes and skinning depths is driving market growth. This push comes from the growing focus on environmentally friendly practices, such as recycling and component reuse, which are becoming practical options for manufacturers.
Surge in demand for maritime trade activities
The continuous expansion of maritime trade is the driving force behind the booming development of the marine fender market. The trend of port leasing and infrastructure construction investment further stimulates the demand for ship fenders. Additionally, expansion of existing seaports is expected to boost market growth during the forecast period.
Accelerating innovation in marine fenders
Leading marine fender manufacturers are at the forefront of innovative advancements to strengthen their market position. Innovations, including the blending of synthetic rubber and its blends with natural rubber, improve the ratio of high energy absorption and reaction force.
Major players in the marine fender industry are pioneers in foam fenders, contributing to reducing accidents and preventing spills. Additionally, the production and adoption of foam fenders is surging in the market due to their longer lifespan in salt water and resistance to rubber fender deterioration.
Ongoing research efforts are aimed at developing fenders of new materials with superior properties, effectively managing energy absorption and mitigating berthing forces. Environmentally friendly approaches that emphasize sustainability aspects such as component reuse and recycling have emerged as a cost-effective alternative for industry players.
The evolution of competition in the marine fender industry:
Market leaders are increasing their focus on quality assurance and strategic partnerships with renowned R&D companies to pioneer high-performance fenders that meet end-user needs through innovative material combinations. The biggest names in marine fenders remain committed to maintaining stringent product standards across rubber, foam and pneumatic fender variants, ensuring continued expansion of their business.
The surge in popularity of charters and private cruises for various recreational activities, events and tours will drive the demand for dock fenders globally. Leading competitors in this space are implementing multi-faceted strategies including mergers, compliance with safety regulations, strategic partnerships and effective supply chain management to gain greater opportunities and potential avenues for business growth and revenue growth.
For example:
INMARE uses EVA compound (ethylene vinyl acetate), an environmentally friendly, UV-resistant substance that protects boats from staining or scratching. These marine fenders demonstrate exceptional durability even after prolonged submersion in marine environments.
In 2022, Fender Innovations, headquartered in the Netherlands and specializing in lightweight fender systems for fast-sailing ships, completed a major business acquisition. The newly acquired entity PolyMarine Service, located in Vlaardingen, the Netherlands, specializes in the production of cast fender systems designed for slightly heavier workboats. Both companies are expected to become integral parts of the Fender Innovations Group and contribute to the industry’s continued transformation.
Main company profiles:
– Trelleborg
-Year Navy
-Viking fenders
——Palfinger
-Immare
-Rubber company
-Horizon Ocean Construction
-Sumitomo Rubber Industry Co., Ltd.
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Marine fenders: growth driver in the US and Germany
The United States dominates the marine fender market:
The United States is expected to maintain its leading position in the marine fender market for the foreseeable future. This prominence is attributed to the country’s well-established ports, shipyards, and ongoing port construction plans, all of which have contributed to the significant growth of the market. The emergence of established companies further strengthens the market outlook, while the expansion of offshore infrastructure continues to drive demand.
Factors driving demand for German marine fenders:
The revenue of the German marine fender market is expected to continue to grow. The market is driven by stringent government regulations aimed at environmental protection, which are expected to boost market performance throughout the forecast period. In addition, the expansion of import and export activities, coupled with the booming shipbuilding industry, has also contributed to the positive development of the German market.
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