Smart Antifouling Coatings Market Size, share, Trends and Segments Forecast To 2029

According to Precision Business Insights (PBI), the latest report, the Smart Antifouling Coatings market was valued at USD 6,276.7 million in 2022 and is expected to grow at a 23.3% CAGR from 2023 to 2029. The primary drivers of the expansion of the global smart antifouling coatings market include the increasing environmental consciousness among the public regarding the harmful effect of traditional antifouling coatings in marine life. In addition, increasing demand for eco-friendly and sustainable antifouling coating solutions are expected to boost the growth of smart antifouling coatings market.
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Shipping Vessels Segment is expected to Dominate the Smart Antifouling Coatings Market
Based on the application, the global smart antifouling coatings market is segmented into shipping vessels, drilling rigs & production platforms, and others. The shipping vessel segment is expected to account for a larger revenue share in the global smart antifouling coatings market. The increasing shipping activities and timely maintenance of shipping vessels are expected to drive market growth in this segment. The growing sea transport or marine transport across the globe is expected to boost the growth of the smart antifouling coatings market in this segment over the forecast period.
North America Smart Antifouling Coatings Market
The North America smart antifouling coatings market is expected to increase over the forecast period due to the several market players and manufacturers present in this region. In addition, the strict government regulations regarding the preservation of marine life are expected to boost the growth of the smart antifouling coatings market in this region. Furthermore, the increasing shipping activities in this region lead to increase in number of ship workshops which is expected to have a positive impact on the growth of smart antifouling coatings market in this region over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global Smart Antifouling Coatings market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In April 2021, AkzoNobel announced their collaboration with Qlayers, a startup and acquired a stake in a new industrial coating application technology.
Detailed Segmentation
The Smart Antifouling Coatings market is segmented based on type, function, application, material, and geography.
Based on the type, the market is segmented into the following:
• Organic
• Inorganic
• Hybrid

Based on the function, the market is segmented into the following:
• Standard
• Integrated Antifouling
• Anticorrosion Coatings

Based on the application, the market is segmented into the following:
• Shipping Vessels
• Drilling Rigs
• Production Platforms

Based on the material, the market is segmented into the following:
• Nanocomposite
o ZnO
o Graphene
o Silver Nanoparticles
• Bioinspired
• Epoxy-Based Antifouling Coatings
• Amphiphilic Polymers-Based Antifouling Coatings
• Inhibitor Based Antifouling Coatings
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players profiles in the Smart Antifouling Coatings market report are 3M, PPG Industries Inc, Axalta, Hempel Group, Jotun Group, The Sherwin-Williams Company, AnCatt, Covestro AG, DuPont and Dow, BASF SE, NEI Corporation, Akzo Nobel NV, RPM International Inc.

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This release was published on openPR.