Market Overview:

The global antifouling paints and coatings market size reached US$ 8.01 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.63 Billion by 2027, exhibiting a growth rate (CAGR) of 8.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

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 at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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.

Report Coverage:

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?