According to IMARC Group’s latest report, titled “Antifouling Paints and Coatings Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global antifouling paints and coatings market reached a value of US$ 15 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of around 9% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Antifouling paints and coatings are paints produced, especially for hulls of ships and offshore structures for protection against sub-aquatic organisms. They are made using resins, pigments, cuprous oxides, and biocides, which restricts the growth of the harmful marine organisms. Few major antifouling paint types are soft-bottom, hard-bottom, and ablative antifouling paints. They are applied at the bottom of the boats, yachts, and ships to enhance the water flow passing the hull, which reduces fuel consumption by minimizing the drag and increasing the durability and aesthetics of the ship.

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Market Trends

The burgeoning marine and shipbuilding industries across the globe augment the antifouling paints and coatings market. Additionally, improved vessel durability and corrosion prevention activities further escalate the market growth. These paints and coatings are widely used to paint drilling rigs, production platforms, shipping vessels, and underground waterways transport for minimizing frictional resistance and damage from harmful organisms. Furthermore, the advent of eco-friendly antifouling products also impels product demand. The increasing need for friction and metal-free, and silicone- and fluoro-resin-based antifouling variants further strengthen market growth. The rising ownership of leisure boats and elevating demand for floating production storage and offloading (FPSO) vessels in the oil and gas sector are further anticipated to drive the industrial growth.

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List of Key Companies Covered in this Market Report:

  • 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

The report has segmented the market on the basis of type, application and geography.

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 Geography:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021- 2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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