Marine Anti-fouling Coating Market is expected to grow at a moderate rate during the forecast period, 2018-2023| Key Players - KANSAI PAINT CO., LTD., CHUKOGU MARINE PAINTS, LTD., HEMPEL A/S, KCC, JOTUN amongst others.

Market Analysis:

Asia-Pacific to Dominate the Market
Asia-Pacific is expected to remain the largest market for marine anti-fouling coatings, followed by North America, and Europe.. China, being the major player in the shipbuilding industry, is driving the anti-fouling coating market in Asia-Pacific. In addition, demand exists for fuel-saving and low-emission coatings in Asia-Pacific countries, which contribute to the growth of the studied market.

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Marine anti-fouling coatings are used to coat the bottoms of ships to prevent them from algae and mollusks, which, if attached, can slow down the ship speed, thus increasing the fuel consumption. The global marine anti-fouling market is mainly driven by increasing production of leisure boats, increasing ship repairs & maintenance activities, and growing demand from the oil & gas industry. Moreover, the rising consumption of commercial vessels, passenger ships, yachts, cargo, and conventional offshore drilling rigs is expected to expand industry growth over the forecast period. Hull coating applications dominate the studied market because of increasing production of offshore ships, which include passenger and cargo, along with offshore drilling activities.

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Market Segments:
Marine Anti-fouling Coating Market is segmented by:
1. Type: Copper-based, Self-Polishing (Silver-based), Hybrid, Others
2. Application: Hull Coatings, Tank Coatings, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• July 2017: Eclora started the development of a new series of non-toxic & anti-fouling grapheme enhanced marine coatings in order to control the growth of marine organisms and reduce fuel consumption of vessels.
• October 2017: Hempel planned to launch two new premium antifouling coatings - Globic 9500M and Globic 9500S in a hope to see reduction in speed loss, fuel savings of 2.5%, along with the reduction in CO2 emissions and also to improve the operational efficiency of a vessel.

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