Antifouling Paints and Coatings Market Share, Size, Growth, Opportunity and Forecast 2020-2025

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Antifouling Paints and Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global antifouling paints and coatings market exhibited moderate growth during 2014-2019. Antifouling paints and coatings refer to specialized paints applied to the hulls of ships and offshore structures to minimize or prevent the growth of sub-aquatic organisms. They are manufactured using resins, pigments, cuprous oxides and biocides, which inhibit the growth of algae, bacteria, diatoms, barnacles, slime and other marine organisms. Some of the commonly used antifouling paints, include soft-bottom paint, hard-bottom paint and ablative antifouling paints. They are applied to the bottom of the boats, yachts and ships to improve the flow of water passing the hull, which minimizes fuel consumption by reducing the drag and enhancing the durability and aesthetic value of the ship.

Significant growth in the marine and shipbuilding industries across the globe is one of the key factors creating a positive impact on the market. Furthermore, increasing focus and expenditures on improving vessel durability and preventing corrosion are providing a thrust to the market growth. Antifouling paints and coatings are used on drilling rigs, production platforms, shipping vessels and inland waterways transport to reduce frictional resistance and prevent fouling organisms from damaging the hulls. Additionally, various product innovations, such as the development of environment-friendly antifouling products, are acting as other growth-inducing factors. There is also a growing demand for low-friction, metal-free and silicone- and fluoro resin-based antifouling paints and coatings, which is contributing to the market growth. Other factors, including increasing ownership of leisure boats, along with the growing demand for floating production storage and offloading (FPSO) vessels by the oil and gas industry, are anticipated to drive the market further. Looking forward, IMARC Group expects the global antifouling paints and coatings market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global antifouling paints and coatings market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type and application.

Breakup by Type:

Copper-Based
Self-Polishing Copolymer
Silicone Elastomers
Others

Breakup by Application:

Shipping Vessels
Drilling Rigs & Production Platforms
Fishing Boats
Yachts & Other Boats
Mooring Lines
Inland Waterways

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Akzo Nobel N.V. , BASF S.E., Boero Yacht Coatings, Chugoku Marine Paints Ltd., Hempel A/S, Jotun Group, Kop-Coat Marine Group (RPM International Inc), Nippon Paint Marine Coatings Co. Ltd., PPG Industries Inc. and The Sherwin-Williams Company etc.

Key Questions Answered in This Report:

How has the global antifouling paints and coatings market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global antifouling paints and coatings market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global antifouling paints and coatings market and who are the key players?
What is the degree of competition in the industry?