Press release
Antifouling Paints and Coatings Market Projected to Reach $13.18 Billion by 2031 | In-Depth Analysis with Top Key Players
Antifouling Paints and Coatings Market
Access Full Summary @ https://www.alliedmarketresearch.com/antifouling-paints-and-voatings-market
Key Report Details:
Forecast Period: 2022-2031
Base Year: 2021
Market Size (2021): $5.91 billion
Market Size (2031): $13.18 billion
CAGR: 8.4%
No. of Pages in Report: 300
Segments Covered: Type, application, and region
Drivers, Opportunities, and Restraints:
Drivers:
Increase in the standard of living
Surge in shipbuilding activities
Opportunities:
Extensive applications in the marine industry
Improvement in durability among vessels
Restraints:
Rise in concern regarding fuel consumption
Presence of substitutes
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COVID-19 Impact: The COVID-19 pandemic negatively impacted the antifouling paints and coatings market. Lockdowns resulted in the closure of manufacturing facilities, disrupting the supply chain. Strict social distancing restrictions led to the shutdown of shipbuilding and boat building companies. Activities such as fishing, shipping, and sports were canceled, exacerbating the market impact. However, recovery is expected.
Market Segmentation: The report offers a detailed segmentation based on type, application, and region.
Type:
The self-polishing copolymer segment held the largest market share in 2021 and is expected to maintain its lead. The copper-based segment is projected to witness the fastest CAGR of 8.8%.
Other segments include hybrid and others.
Application:
Shipping vessels dominated the market in 2021 and are expected to maintain their lead. The segment is projected to witness the fastest CAGR of 8.6%.
Other segments include drilling rigs & production platforms, fishing boats, yachts & other boats, and others.
Region:
Asia-Pacific dominated the market in 2021 and is expected to maintain its lead. The region is projected to witness the fastest CAGR of 8.6%.
Other regions include North America, Europe, and LAMEA.
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Key Players: Key players in the industry include Kop-Coat Marine Group, Nippon Paint Marine Coatings Co. Ltd., Akzo Nobel N.V., BASF S.E., Boero Yacht Coatings, Chugoku Marine Paints Ltd., Hempel A/S, Jotun, PPG Industries Inc., and The Sherwin-Williams.
The report provides insights into the recent developments, product portfolios, business performance, and operating segments of these key players.
For further details, you can refer to the https://www.globenewswire.com/news-release/2022/08/09/2495168/0/en/Antifouling-Paints-and-Coatings-Market-Size-Worth-13-18-Billion-by-2031-CAGR-8-48-AMR.html
Contact:
David Correa
Portland, OR, United States
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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