Antifouling Paints and Coating Market Size, Share Report, Analysis, Trends, Growth 2030

Antifouling Paints and Coating 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.

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Antifouling Paints and Coating Market: 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:  

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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.

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Antifouling Paints and Coating Market: Key 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.

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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 the Middle East & Africa