Antifouling Paints and Coatings Market Report by Type (Copper-Based, Self-Polishing Copolymer, Silicone Elastomers, and Others), Application (Shipping Vessels, Drilling Rigs & Production Platforms, Fishing Boats, Yachts & Other Boats, Mooring Lines, Inland Waterways), and Region 2024-2032
The global antifouling paints and coatings market size reached US$ 9.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 9.4 Billion
Market Forecast in 2032
US$ 17.0 Billion
Market Growth Rate (2024-2032)
6.6%
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 2024-2032. 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:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Type, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global antifouling paints and coatings market was valued at US$ 9.4 Billion in 2023.
We expect the global antifouling paints and coatings market to exhibit a CAGR of 6.6% during 2024-2032.
The expanding shipbuilding industry, along with the rising adoption of antifouling paints and coatings in boats, yachts, and ships, for improving the flow of water passing the hull, is primarily driving the global antifouling paints and coatings market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for antifouling paints and coatings.
Based on the type, the global antifouling paints and coatings market has been segregated into copper-based, self-polishing copolymer, silicone elastomers, and others. Among these, copper-based currently exhibits a clear dominance in the market.
Based on the application, the global antifouling paints and coatings market can be bifurcated into shipping vessels, drilling rigs & production platforms, fishing boats, yachts & other boats, mooring lines, and inland waterways. Currently, shipping vessels hold the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global antifouling paints and coatings market include 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., The Sherwin-Williams Company, etc.
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