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Antifouling Coatings Market – Global Industry Analysis, Forecast 2024

Antifouling coatings are a special type of coating that is applied with paint to the bottom of a ship or marine vessel to prevent or retard the degeneration of the metallic surface that remains submerged. Usually, subaquatic organisms start building
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Antifouling Coatings Market - Global
Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024
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Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Antifouling
Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” This report
likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and
worldwide business sector industry structure.
Antifouling Coatings Market: Overview
Antifouling coatings are a special type of coating that is applied with paint to the bottom of a ship or marine vessel to prevent or
retard the degeneration of the metallic surface that remains submerged. Usually, subaquatic organisms start building colonies
on the parts of the ship that remain underwater. Excessive growth of these organisms often leads to a hydrodynamic drag,
leading to high fuel consumption and poor performance. In order to maintain the performance and the life of the vessel,
manufacturers use antifouling coatings that contain special chemicals designed to prevent growth of algae, barnacles, and other
such living organisms.
The antifouling coatings market has gained momentum due to rising sea trade activities, which has led to a rise in the number
of ships. The various types of vessels using antifouling coatings are bulk carriers, cargo ships, and container ships.
The research report on the global antifouling coatings market provides a thorough analysis of the overall market and the
answers pertinent to questions about the scope of the market. The report aims to explain the competitive scenario and the
nature of the vendor landscape to the readers through well-researched chapters. Furthermore, the document contains Porter’s
Five Forces Analysis and SWOT analysis to highlight the various factors responsible for the growth or decline of the overall
antifouling coatings market.
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Antifouling Coatings Market: Key Trends and Opportunities
Poor output of vessels due to the growth of organisms is the primary driver of the global antifouling coatings market. A drop in
speed not only slows down the time taken for transportation, but also increases the risk of goods perishing in transit. The
possibility of corrosion of metallic coating and the chances of shipworms causing decay to the goods prompt ship manufacturers
to use antifouling coatings. Furthermore, the threat of marine organisms being transported out of their ecosystems and the
potential hazard of this to the marine life is fueling demand for these coatings.
The new-age antifouling coatings contain special chemicals such as biocides, organotin compounds, copper, and synthetic
chemical compounds. Unfortunately, these are known to have a negative impact on the environment. For instance, usage of
paints containing tributyltin has been banned due to high level of toxicity. Companies in this market are also looking at ways to
reduce the use of copper in antifouling coatings, as copper too has adverse effects on marine flora and fauna.
On the other hand, players are looking at using slime for making antifouling paints that are friendlier to marine life.
Technological advancements and increasing investments in research and development are likely to create several growth
opportunities in the market in the near future. The burgeoning oil and gas industry is also expected to offer newer growth
platforms to the global antifouling coatings market.
Antifouling Coatings Market: Region-wise Outlook
Asia Pacific dominates the global antifouling coatings market due to the massive shipbuilding industries in South Korea, Japan,
Taiwan, and the Philippines. Rise of the shipbuilding industry in Asia Pacific is expected to keep the performance of the
antifouling coatings market steady. Demand for antifouling coatings is also expected to rise in this region due to increasing
expenditure on exploration and production of natural gas and crude oil in Thailand, India, and China.
The top players in the global antifouling coatings market are PPG Industries, Inc., BASF SE, AkzoNobel N.V., Hempel, Archer
Daniels Midland Company, Nippon Paint Holdings Co. Ltd., Jotun, Sherwin-Williams Company, Chugoku Marine Paints Ltd., Kansai
Paint, and Advance Marine Coatings AS, among others. These companies focus on developing eco-friendly coatings from palm
oil to reconcile the issue of rising environmental concerns and the need to safeguard the vessels.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and
verifiable projections about market size. The projections featured in the report have been derived using proven research
methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every
facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned
analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The
report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and
market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and
mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment
over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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