The global antifouling paints and coatings market size reached US$ 9.4 Billion in 2023. Looking forward, the market is projected to reach US$ 17.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.80% during 2023-2032.
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.
2. What is the expected growth rate of the global antifouling paints and coatings market during 2024-2032?
3. What are the key factors driving the global antifouling paints and coatings market?
4. What has been the impact of COVID-19 on the global antifouling paints and coatings market?
5. What is the breakup of the global antifouling paints and coatings market based on the type?
6. What is the breakup of the global antifouling paints and coatings market based on the application?
7. What are the key regions in the global antifouling paints and coatings market?
8. Who are the key players/companies in the global antifouling paints and coatings market?
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
This report 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. The 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.Key Questions Answered in This Report
1. What was the size of the global antifouling paints and coatings market in 2023?2. What is the expected growth rate of the global antifouling paints and coatings market during 2024-2032?
3. What are the key factors driving the global antifouling paints and coatings market?
4. What has been the impact of COVID-19 on the global antifouling paints and coatings market?
5. What is the breakup of the global antifouling paints and coatings market based on the type?
6. What is the breakup of the global antifouling paints and coatings market based on the application?
7. What are the key regions in the global antifouling paints and coatings market?
8. Who are the key players/companies in the global antifouling paints and coatings market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Antifouling Paints and Coatings Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.4 Billion |
| Forecasted Market Value ( USD | $ 17 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
