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Antifouling Agent Market Growth by Key Players: PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, Hempel A/S, Kansai Paint ME
Global Market Insights, Inc.
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Special chemicals such as organotin compounds, biocides and copper are used to formulate these agent coatings which help in preventing the growth of marine organisms. Protection against corrosion, fouling, and external contamination coupled with increasing condition-based monitoring trend over non-consistent preservation in shipping industry is likely to propel demand.
Antifouling agent market applications are segmented in to shipping vessels and drilling rigs & production platforms. Shipping vessels accounted for over 75% of the global volume in 2015. These paints and coatings are applied in order to enhance vessel performance and strength.
Increase in industries’ preference for eco-friendly products owing to stringent environmental regulations is likely to restrain the industry. Moreover, the raw material price fluctuation is anticipated to impact the antifouling agent market price trend.
Commercial ships mainly use coatings that consist of synthetic chemical compounds which can harm the environment. The prevention on the use of these coatings led to biologically derived antifouling options which may help to provide the biomimetic and natural antifouling surface coatings. Biomimetic method is likely to promote innovations into developing and designing of non-toxic antifouling technologies.
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Middle East and Africa (MEA) antifouling agent market size was valued at more than USD 20 million in 2015 and is anticipated to increase further due to increase in capital expenditure for the offshore vessels development in Nigeria, Saudi Arabia, and Angola.
Europe antifouling agent market demand was above 5 kilo tons in 2015. Countries including the UK and Italy where high penetration of yacht manufacturers is noted is likely to be among the key factors to drive the demand in the region.
U.S. antifouling agent market size witnessed demand of more than 2.5 kilo tons in 2015 and is projected to observe significant growth over the forecast period. Increase in unconventional sources production such as tight oil and shale gas in Canada and the U.S. is expected to favorably impact the industry.
Antifouling agent market share consist of PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, Hempel, Advance Marine Coating, Nippon Paint, and Kansai Paint, In August 2015, Jotun launched new production facility in Rio de Janeiro, Brazil specifically for marine coatings. This manufacturing unit is projected to generate over 9 million liters of marine coating products, together with antifouling products.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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