Antifouling Paints and Coatings Market Size, Growth Opportunities, Industry Analysis, Forecast, 2019-2026

Antifouling paints and coatings are the ones applied to boats, yachts, and ships to reduce the growth of organisms on the part of the ship that is under water and prevents corrosion of metal hulls. It helps in increasing the durability and enhanced performance of the vessels. These marine paints are also useful in fixed and floating offshore oil rigs. These are also known as bottom paint or underwater hull paint. Antifouling coatings & paints decreases fuel consumption, enhance durability, and enable compliance with environmental regulations. It is composed of cuprous oxides and biocides which inhibits growth of algae, barnacles and marine animals.

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The antifouling paint & coating market is currently in its advanced stage but still researches are going on to improve the quality of the material. The global antifouling paint & coating market is expected to register growth in the near future mainly due to high demand of it in the shipping industry. Other factors that drive this market are rising demand for antifouling paints & coatings in hulls and underwater surfaces of shipping vessels as they provide surface smoothness & great polishing finish. Demand for Copper-based antifouling paints & coatings will drive the market in the forecast period as they are environment-friendly and ensure fouling-free surfaces of ships or boats, which result in substantial fuel savings and consequently reduce emission of greenhouse gases. Growing demand and stringent environmental regulations are encouraging manufacturers to develop sustainable and eco-friendly products.

The report segments the antifouling paints and coatings market on the basis of type, application, and geography. On the basis of type, the market is segmented into copper-based, self-polishing copolymer, hybrid and others. On the basis of applications, the market is classified into shipping vessels, drilling rigs & production platforms, fishing boats, yachts & other boats, inland waterways transport and mooring lines. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.

Further advancements such as natural product antifoulants (NFAs) are being researched upon since last twenty years as environmentally acceptable solutions. Currently, increased activity in formation of non-biocidal and non-fouling surfaces are also in trend.

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Comprehensive competitive analysis and profiles of major market players such as Akzo Nobel N.V., BASF S.E., Boero Yachtcoatings, Chugoku Marine Paints Ltd., Hempel A/S, Jotun, Kop-Coat Marine Group (Pettit Marine Paint), Nippon Paint Marine Coatings Co. Ltd., PPG Industries Inc. and The Sherwin-Williams Company is also provided in this report.

KEY BENEFITS FOR STAKEHOLDERS:

• This study evaluating competitive landscape and value chain has been taken into account to help in understanding the competitive environment across the geographies.
• Comprehensive analysis of factors that drive and restrict the growth of the global antifouling paints and coatings market is provided.
• Region-wise and country-wise antifouling paints and coatings market conditions are comprehensively analyzed in this report. Stringent regulations about control of toxicity and pollution in environment are expected to control the growth of the market.
• Exhaustive analysis of the global antifouling paints and coatings market by type helps in understanding the types of materials that are currently employed along with the variants that would gain prominence in the future.
• This report provides the quantitative analysis of the current market and estimations through 2014-2022, which assists in identifying the prevailing market opportunities
• Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
• Key market players within the antifouling paints and coatings market are profiled in this report and their strategies are analyzed thoroughly.

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