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Antifouling Paints and Coating Market - Global Industry Analysis

Antifouling Paints and Coating Market By Type (Self-polishing copolymer, Copper-based antifouling paints & coatings, Hybrid antifouling paints & coatings, and Others), By Application (Mooring lines, Shipping vessels, Fishing boats, Drilling rigs & production platforms, and Inland waterways transport): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 29-May-2021 Category: Chemical & Materials Report Format : PDF Pages: 170 Report Code: ZMR-422 Status : Published

The global Antifouling Paints and Coating market accounted for USD 6.3 Billion in 2020 and is expected to reach USD 11.8 Billion by 2028, growing at a CAGR of around 8.3% between 2021 and 2028.

Description

Market Overview     

The global Antifouling Paints and Coating market accounted for USD 6.3 Billion in 2020 and is expected to reach USD 11.8 Billion by 2028, growing at a CAGR of around 8.3% between 2021 and 2028.     

Antifouling paints and coatings the coating used at the bottom of a ship or marine vessel to prevent or retard the degradation of the metallic surface that remains submerged. It helps to increase its longevity and efficiency of vessels. These marine paints are also useful for fixed and floating offshore oil rigs. High demand from the marine industry is likely to spur the market growth.

It also decreases fuel consumption, enhance durability, and enable compliance with environmental regulations. It is composed of cuprous oxides and biocides which inhibits growth of algae, barnacles and marine animals.  

COVID-19 Impact Analysis  

The global antifouling paints and coating market has witnessed a slight decline in the sales for short term to the lockdown enforcement placed by governments in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand. The market would remain bullish in upcoming year.  The significant decrease in the global antifouling paints and coating market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Growth Factors

Antifouling paints and coatings market is boosted due to wide employment in offshore sector for coating the drilling rigs, shipping vessels, and mooring lines. Rising demand for antifouling paint and coating from the gas & oil sector is likely to boost the antifouling paints and coating market in the years to come. In addition to this, antifouling paints and coating market is bolstered due to superior characteristics such as fouling free. This eliminates external contamination and corrosion, which will help the development of antifouling paints and coating market in the years to come. On the other hand, high employment of antifouling paints and coating might cause adverse effect on the environment, thereby hindering the growth of antifouling paints and coating market. Nevertheless, in-progress research for launch of different coating methods is likely to boost the development of antifouling paints and coating market in the years to come. Furthermore, increasing demand from the up-and-coming nations and various end users such as gas & oil sector for the antifouling paints and coating market is expected to offer new avenues in the years to come.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

Antifouling Paints and Coating finds wide applications in Mooring Lines, Shipping Vessels, Fishing Boats, Drilling Rigs & Production Platforms and Inland Waterways Transport. Mooring Lines witnessed a major CAGR in the market.

The shipping vessels application hold the major share and is likely to remain dominance throughout the forecast period. Antifouling is the process of protecting a ship’s hull with specifically designed materials, such as special paints and coatings that prevent these organisms from piling up in the hull.

Key Market Players & Competitive Landscape

The report present comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include The Sherwin-Williams Company, BASF S.E, Boero Yachtcoatings, PPG Industries Inc., Nippon Paint Marine Coatings Co. Ltd, Chugoku Marine Paints Ltd, Jotun, Hempel A/S, Kop-Coat Marine Group, Akzo Nobel N.V., Advance Marine Coatings AS and Chugoku Marine Paints Ltd among others.

The global Antifouling Paints and Coating Market is segmented as follows:

By Types

  • Self-polishing copolymer
  • Copper-based antifouling paints & coatings
  • Hybrid antifouling paints & coatings
  • Others

By Applications

  • Mooring lines
  • Shipping vessels
  • Fishing boats  
  • Drilling rigs & production platforms
  •  Inland waterways transport

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Antifouling Paints and Coating Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Antifouling Paints and Coating Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Self-pulishing copulymer
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Copper-based antifouling paints & coatings
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Hybrid antifouling paints & coatings
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Others
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Antifouling Paints and Coating Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Mooring lines
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Shipping vessels
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Fishing boats
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Drilling rigs & production platforms
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Inland waterways transport
      • 5.6.1. Market Size and Forecast, By Region (USD Billion)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By Application, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Application, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Application, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7: Antifouling Paints and Coating Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technulogy Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Antifouling Paints and Coating Market: Company Market Share, 2019
      • 8.1.2. Global Antifouling Paints and Coating Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Antifouling Paints and Coating Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Antifouling Paints and Coating Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. The Sherwin-Williams Company
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfulio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. BASF S.E
    • 9.3. Boero Yachtcoatings
    • 9.4. PPG Industries Inc
    • 9.5. Nippon Paint Marine Coatings Co. Ltd
    • 9.6. Chugoku Marine Paints Ltd
    • 9.8. Jotun
    • 9.9. Hempel A/S
    • 9.10. Kop-Coat Marine Group
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodulogy
    • 11.1. Research Methodulogy
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Antifouling Paints & Coating market. Zion Research has collected and analyzed key data belong to the global Antifouling Paints & Coating market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Antifouling Paints & Coating across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Antifouling Paints & Coating industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Antifouling Paints & Coating market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

The coating is the process in which the surface is covered using suitable substrate. Anti-fouling paints are often applied as one component of multi-layer coating systems which offer great resistance from the microbial growth and antifouling properties. It also acts as a barrier for corrosion on hulls which can weak its performance.

Antifouling is carried out mainly on ships and beneath the water, equipment to prevent the machines or ships from the decomposition from aqua microbes. Therefore, increasing trend for Floating Production Storage & Offloading (FPSO), passenger ships and conventional offshore drilling rigs is likely to drive the antifouling paint and coating market in the coming years. Due to antifouling paints and coating, the fuel is preserved which is expected to further boost the market in the forecast period. However, stringent regulations imposed by the governing bodies for use of antifouling paints and coatings may impede the growth of the antifouling paint and coating market. Nevertheless, ongoing research for upcoming coating techniques along with growing demand for antifouling paint and coating from oil & gas industry is likely to positively impact on antifouling paint and coating market in the coming years.

Global Antifouling Paint and Coating Market

On the basis of types, the antifouling paint and coating market can be segmented as the self-polishing copolymer, copper-based antifouling paints & coatings, hybrid antifouling paints & coatings and others. Copper-based antifouling paints & coatings ensure fouling free surfaces for boats and sips, thus helps in saving the fuel and eliminating greenhouse gasses. Therefore, copper based antifouling paints and coatings accounted as the largest market segment in 2015. Numerous applications for antifouling paint and coating are mooring lines, shipping vessels, fishing boats, drilling rigs & production platforms and inland waterways transport. Shipping vessels were the leading segment of the antifouling paint and coating market in 2015 with significant market share. Use of antifouling paints and vessels in shipping vessels helps in preventing fuel loss by maintaining the hulls aqua-microbe free. Drilling rigs are likely to experience huge growth in the coming years due to constantly rising FPSO vessel expenditure by the oil & gas sector.

Asia Pacific held 75% of the total market for antifouling paint and coating in 2015. Escalating shipbuilding industry in Japan, Taiwan, China, Philippines, and Korea is expected to trigger the antifouling paint and coating market in Asia Pacific. Furthermore, Indian Government proposed Draft National Chemical Policy to increase the chemical industry in India. Thus, government initiatives for expanding chemical industry is expected to propel the growth of antifouling paints and coating market in the near future. Moreover, the sharp rise in expenditure for the exploration and production of crude oil & natural gas in India, China and Thailand are anticipated to bolster the demand for paints in drilling rigs & production platforms. Huge penetration of yachts producers in Europe is likely to positively impact on the antifouling market in the coming years. The Middle East and Africa is witnessing predominant growth for the antifouling paint and coating in recent times and is to gain traction in the forecast period. Increasing expenditure on offshore vessels in various countries such as Nigeria, Saudi Arabia, and Angola is predicted to fuel the growth of the market in this region in the upcoming years. Latin America is likely to witness decent growth in the forecast period.

Some of the global major players in the antifouling paint and coating are The Sherwin-Williams Company, BASF S.E, Boero Yachtcoatings, PPG Industries Inc., Nippon Paint Marine Coatings Co. Ltd, Chugoku Marine Paints Ltd, Jotun, Hempel A/S, Kop-Coat Marine Group, Akzo Nobel N.V., Advance Marine Coatings AS and Chugoku Marine Paints Ltd among others.


Frequently Asked Questions

The global Antifouling Paints and Coating Market was valued at USD 6.3 billion in 2020.

The global Antifouling Paints and Coating Market is expected to reach USD 11.8 billion by 2028, growing at a CAGR of 8.3% between 2021 to 2028.

Some of the key factors driving the global Antifouling Paints and Coating Market growth are Rising demand for antifouling paint and coating from the gas & oil sector.

Asia Pacific in 2020 ruled the antifouling paints and coating market and was believed to be the highest income generating area all over the globe. Asia Pacific added up for almost 72% of the total share in antifouling paints and coating market in 2020. This was majorly owing to the rapidly developing shipbuilding sector in Taiwan, Japan, the Philippines, China, and Korea.

Some of the major players of global Antifouling Paints and Coating market includes BASF S.E, The Sherwin-Williams Company, PPG Industries Inc., Boero Yachtcoatings, Chugoku Marine Paints Ltd, Nippon Paint Marine Coatings Co. Ltd, Kop-Coat Marine Group, Jotun, Hempel A/S, Advance Marine Coatings AS, Akzo Nobel N.V., and Chugoku Marine Paints Ltd among others.

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