Marine Anti-Fouling Coatings Market Research 2020-Competitive Insights: AkzoNobel NV, PPG Industries, Jotun, Hempel AS, BASF SE

This Global Marine Anti-Fouling Coatings Market Research Report Forecast 2020-2025 is a valuable source of insightful data for business strategists. It provides an in-depth analysis of the COVID-19 impact, industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

The marine anti-fouling coatings market is expected to register a CAGR of around 6%, during the forecast period.

Key Market Players:
AkzoNobel NV, PPG Industries Inc., Jotun, Hempel AS, and BASF SE, and Others.

Market Overview:

The major factors driving the growth of the market studied are the increasing production of leisure boats and cruise ships, an increase in ship repairs and maintenance activities, and rising demand from the oil and gas industry. On the flipside, stringent government regulations, and increasing usage of high-standard, durable products are hampering the growth of the market studied.

- The hull coating segment dominated the market. It is likely to grow during the forecast period, with increasing demand from the global shipbuilding industry.
- Increasing expenditure on luxury goods, and the new, innovative coatings and application technology are likely to provide opportunities for the market studied, during the forecast period.
- Asia-Pacific dominated the global market, owing to the surging demand from the shipbuilding industry.

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Key Market Trends:

Hull Coatings Segment to Dominate the Market

- Anti-fouling hull coating applications dominate the market studied, due to the increasing production of offshore ships, including passenger and cargo, along with offshore drilling activities.
- Anti-fouling hull coatings are primarily applied to the under-water parts of a ship or yacht, to reduce the growth of the organisms and microbes in the parts attached to the hull. The coatings provide enhancement and durability, along with providing benefits, such as self-cleaning and graffiti resistance.
- Its self-polishing resin and biocide, such as cuprous oxide, along with a booster biocide, help prevent bio-fouling organisms.
- Hull coatings, owing to their excellent adhesion and anti-corrosive properties (which help increase the durability of hulls), as well as their aesthetic properties, have become an integral part of the marine industry.
- With the recovery of prices in the oil and gas industry, the exploration and production processes have started increasing across the world. The major increase in oil and gas offshore exploration activities is noticed in North Sea, North America, and the Middle Eastern region. Additionally, the demand for vessels is also increasing in these regions.
- Besides, the demand for passenger, bulk containers, and container vessels is also increasing, with growing population and trade between nations.
- Such global trends have been leading to the growth of production in the shipbuilding industry, which is further expected to drive the demand for anti-fouling hull coatings in the coming years.

Regional Analysis:

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region dominated the global market share. Asia-Pacific is the largest ship producing region in the world, catering to the demand for various types of vessels, ranging from ferries, small boats, fishing vessels, tow and tug boats, to the oil industry vessels, cargo ships, passenger ships, bulk carriers, and container ships.
- In Asia-Pacific, countries, such as China, Japan, and South Korea, are the leading producers of vessels, while large shipyards also exist in various other nations of the region.
- Ships are mainly built after procuring projects, and according to customer requirements. It takes a minimum of 2 years to complete the production of a ship. Currently, countries in the Asia-Pacific region have been receiving bulk orders for vessels.
- For instance, in November 2018, three South Korean yards, namely, Daewoo Shipbuilding and Marine Engineering (DSME), Hyundai Heavy Industries, and Samsung Heavy Industries, won more than 50 orders for the new, large-scale LNG tankers. The order is expected to be delivered in the next three years. Besides, China holds a contract to build 24 vessels, while Japan and Singapore hold contracts of building 15 vessels and 1 vessel, respectively.
- Hence, such bulk orders in line for production may drive the demand for anti-fouling coatings from the shipbuilding industry in the region, during the forecast period.

Find the full report description and table of contents below.
https://www.marketinsightsreports.com/reports/01091744287/marine-anti-fouling-coatings-market-growth-trends-and-forecast-2020-2025?source=MW&Mode=28

Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Marine Anti-Fouling Coatings Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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