Our comprehensive research on the Global Antifouling Paints and Coatings Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global antifouling paints and coatings market was US$ 5.2 billion in 2021. The global antifouling paints and coatings market is expected to grow to US$ 10.1 billion by 2030, registering a compound annual growth rate (CAGR) of 9.4% during the study period from 2022 to 2030.
Bottom paint or antifouling bottom paint are other names for antifoul. Antifouling paint is a specialist coating that is put to the yacht’s hull to impede the growth of algae, barnacles, and other marine creatures. It typically contains a composition of water-soluble bioactive chemicals and organotin compounds.
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Factors Influencing the Market
A vessel’s performance can be hampered and slowed down by the development of germs and algae. For those who want their ride to be smoother and faster, antifouling is essential. This paint makes it easier to manoeuvre. Moreover, it is of wide importance for the hull to remain smooth and slime-free because the vessel’s speed can be directly affected by the hull’s roughness. As a result, there is a significant demand for antifouling paints and coatings.
The beneficial qualities of antifouling paints and coatings, such as preventing the ship from corrosion, reducing algae development, increasing durability, etc., will drive the demand for antifouling paints and coatings during the analysis period.
Bulk carriers, tankers, container ships, cargo ships, and passenger & cruise ships make up the global commerce fleet. The coatings shield submerged objects from salt water, including boats, ships, and yachts. Thus, the high demand for ship security is expected to boost the growth of the antifouling paints and coatings market during the study period.
Competitors in the Market
• AKZO NOBEL N.V.
• BASF SE
• BOERO YACHT COATINGS
• Chugoku Marine Paints Ltd
• HEMPEL A/S
• Jotun
• NIPPON PAINT MARINE COATINGS CO., LTD.
• PPG INDUSTRIES INC.
• Kansai Paint Co. Ltd.
• The Sherwin-Williams Company
• Other Prominent Players
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The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Antifouling Paints and Coatings industry experienced notable growth in its workforce. Starting in January, employment within the Antifouling Paints and Coatings sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Antifouling Paints and Coatings output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Antifouling Paints and Coatings output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Antifouling Paints and Coatings market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Antifouling Paints and Coatings market.
Market Segmentation
The global antifouling paints and coatings market segmentation focus on Type, Application, and Region.
By Type
• Copper-based
• Self-polishing Copolymer
• Hybrid
• Others
By Application
• Shipping Vessels
• Drilling Rigs & Production Platforms
• Fishing Boats
• Yachts & Other Boats
• Others
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By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Antifouling Paints and Coatings Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Antifouling Paints and Coatings Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Antifouling Paints and Coatings Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Antifouling Paints and Coatings Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Antifouling Paints and Coatings market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Antifouling Paints and Coatings market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Antifouling Paints and Coatings business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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