PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270360
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270360
Antifouling Paints & Coating Market size was valued at USD 6,047.3 Million in 2022, expanding at a CAGR of 8.9% from 2023 to 2030.
Antifouling paints and coatings are specialized types of paint that are designed to prevent the growth of marine organisms, such as algae, barnacles, and mollusks, on the surface of ships and other underwater structures. These organisms can attach themselves to the hulls of ships, causing drag and reducing fuel efficiency. In addition, they can cause damage to the hull over time, leading to increased maintenance costs and a shorter lifespan for the vessel.
Antifouling Paints & Coating Market- Market Dynamics
The Antifouling Paints & Coating market is primarily driven by the rising demand for antifouling paints and coatings is driven by the growing demand from the marine industry. Ships, offshore platforms, and other marine structures require these coatings to prevent marine organisms from attaching themselves to the surfaces, which can lead to reduced fuel efficiency and increased maintenance costs. Further, increasing awareness about the environmental impact of marine coatings, particularly those containing biocides. As a result, there is a growing demand for more environmentally friendly coatings, such as those based on silicone, fluoropolymer, or other non-biocidal materials.
Furthermore, governments around the world are imposing regulations on the use of certain types of antifouling paints and coatings, particularly those containing biocides. For example, the International Maritime Organization (IMO) has set limits on the amount of copper that can be used in antifouling paints, and the European Union has banned the use of certain biocides in marine coatings. In addition, increasing number of research activities are also expected to boost the market growth. There is ongoing research and development aimed at improving the effectiveness of antifouling paints and coatings, as well as developing new materials and coatings that are more environmentally friendly.
The global Antifouling Paints & Coating Market is segmented on the basis of Type, Application, Industry, and Region.
The market is divided into four categories based on Type: copper-based, self-polishing copolymer, hybrid, others. copper-based segment dominates the market. The increasing demand from chemical industry for antifouling paints & coatings is contributing to segment growth.
The market is divided into five categories based on Application: shipping vessels, drilling rigs & production platforms, fishing boats, yachts & other boats, others. The shipping vessels segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand from shipbuilding operations.
The market is divided into three categories based on Industry: chemical, marine, and others. The marine segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increasing demand for paints and coatings in marine industry.
Antifouling Paints & Coating Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America held the largest market share in 2021 and is projected to continue its dominance during the forecast period. The growing marine and shipbuilding sector in the U.S. is mainly contributing to market growth.
Due to the continuous focus on regulation on paints and coatings in the coming years, the worldwide market for antifouling paints & coating is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their product through a variety of channels, including corporate websites, retailers, distributors, and end consumers. Product makers compete on a variety of aspects, including product costs, performance, product making, Industry, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in 2021, AkzoNobel launched its new biocide-free antifouling coating called Intersleek 1000, which is based on patented biofouling control technology..
This proposed research study on Antifouling Paints & Coating market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Antifouling Paints & Coating market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Antifouling Paints & Coating market
Impact of COVID-19 on Antifouling Paints & Coating market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Antifouling Paints & Coating market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Antifouling Paints & Coating market, we have also included competitive landscape and key innovator analysis for the Antifouling Paints & Coating market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Antifouling Paints & Coating market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Antifouling Paints & Coating market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL ANTIFOULING PAINTS & COATING MARKET KEY PLAYERS
AkzoNobel
PPG Industries
Jotun
Hempel
Chugoku Marine Paints
Nippon Paint Marine Coatings
BASF SE
The Sherwin-Williams Company
Kansai Paint Co., Ltd.
RPM International Inc.
Chemo Marine
Boero Bartolomeo S.p.A.
Coppercoat
DuPont
Sea Hawk Paints
GLOBAL ANTIFOULING PAINTS & COATING MARKET, BY TYPE
Copper-based
Self-polishing Copolymer
Hybrid
Others
GLOBAL ANTIFOULING PAINTS & COATING MARKET, BY APPLICATION
Shipping Vessels
Drilling Rigs & Production Platforms
Fishing Boats
Yachts & other Boats
Others
GLOBAL ANTIFOULING PAINTS & COATING MARKET, BY INDUSTRY
Chemical
Marine
Others
GLOBAL ANTIFOULING PAINTS & COATING MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA