What are the Growth Drivers, Status and Insights of Antifouling Coatings Market ? Major players are BASF, Hempel A/S, PPG Industries, AkzoNobel, Chugoku Marine Paints, Ltd, Kansai Paint Co.,Ltd, Nippon Paint India

In modern time, antifouling coatings are formulated by using special chemicals which impede the growth of barnacles, algae, and marine organisms. These special chemicals include organotin compounds, copper, and some other biocides. The commercial ships commonly use an anti-fouling coating that includes synthetic chemical compounds that have harmful effects on the environment.

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The prohibition on the use of these antifouling coatings led to the exploration for biologically inspired antifouling strategies which may provide with the natural and biomimetic antifouling surface coatings. Biomimetic approaches may well provide new insights into designing and developing surface active and non-toxic antifouling technologies.
Growth of organisms affects the performance and profitability of the ships or yachts in many ways, including decrease in the maximum speed of the ships and severe damage overtime by some marine growth such as shipworms. Also, harmful marine organisms may get transported by ships to other areas.

Opportunities in the market lie with the growth in oil and gas industry. Upcoming technology and advancement in antifouling coatings industry owing to environmental focus amongst ship owners and shipyard clients has led to the search for biologically inspired antifouling strategies which would impact the future of antifouling coating market development.

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One of the major challenges faced by antifouling coatings market is predictable decline in the shipbuilding industry. The market has also been witnessing the growing consumer preference for eco-friendly products due to which strict environmental regulations have been imposed that poses a challenge to the growth of this market. Also, the volatility in price of Raw Materials hinders to the growth of the anti-fouling coating market.

Some of the key players in the industry include PPG Industries Inc., Jotun, Sherwin-Williams Company, AkzoNobel N.V., BASF SE, Hempel, Archer Daniels Midland Company, Chugoku Marine Paints LTD, Advance Marine Coatings AS, Kansai Paint and Nippon Paint Holdings Co. Ltd among others

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