New York, NY -- (SBWIRE) -- 12/22/2020 -- Antifouling coatings are special coatings combined with paints that are applied to the bottom of marine vessels, such as bulk carriers and cargo or container ships, to prevent or inhibit the erosion of the submerged metallic surface. These coatings also help enhance the life and performance of these vessels, besides preventing algae or bacterial growth on the submerged ship surfaces.

Market Drivers

The global antifouling coatings market is poised to attain a staggering valuation of USD 3.07 billion by 2027, expanding at a robust CAGR of 4.7% throughout the estimated period. The demand for antifouling paints and coatings in the marine industry has witnessed an upsurge over the past years, mainly owing to the growing concerns about high fuel consumption and increased operational costs. These eco-friendly coatings are extensively used to protect the vessel against corrosion and fouling and evade expensive repairs. The global market growth can be further accredited to the increasing maritime trade operations, rising production of ships and other marine vessels, and augmenting offshore drilling activities. Increasing tourism and recreational activities have led to a spike in demand for passenger ships like yachts, cruise ships, and ocean liners, thereby creating ample scope for market growth over the forecast timeframe

The latest report is inclusive of an extensive coverage of the significant impact of the COVID-19 pandemic on the Antifouling Coatings business sector. The coronavirus outbreak has drastically impacted the global economic landscape, and consequently, this particular business vertical. Therefore, the report provides the reader with a clear concept of the current scenario of this business vertical, estimating its COVID-19 aftereffects.

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Competitive Terrain:

The global Antifouling Coatings market is highly consolidated due to the presence of numerous companies operating across this industry. The report depicts the current market standing of these companies, their past performances, demand and supply graphs, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market. The leading market contenders listed in the report are:

AkzoNobel N.V, PPG Industries, Jotun, Kansai Paint Group, Sherwin Williams, Nippon Paint Marine Coatings, Hempel, BASF, Chugoku Marine Paints, and Boero Yacht Coatings, among others

Antifouling Coatings Market Segmentation, by Product Type:

·         Copper-based

·         Self-Polishing Copolymer

·         Hybrid

·         Others

Antifouling Coatings Market Segmentation, by Application Outlook:

·         Shipping Vessels

·         Drilling Rigs & Production Platforms

·         Fishing Boats

·         Yachts & Other Boats

·         Inland Waterways Transport

·         Mooring Lines

·         Others

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Highlights of the Table of Contents:

1. Report Overview

1.1 Research Scope

1.2 Key Antifouling Coatings market segments

1.3 Target players

1.4 Market analysis by type

1.5 Market analysis by application

1.6 Key learning objectives

1.7 Report timeline

2. Global Growth Trends

2.1 Global Antifouling Coatings market size

2.2 Latest trends of the Antifouling Coatings market by region

2.3 Key corporate trends

3. Antifouling Coatings Market shares of the key players

3.1 Global Antifouling Coatings size by manufacturers

3.2 Global Antifouling Coatings market key players

3.3 Products/solutions/services of major players

3.4 New entrants in the Antifouling Coatings market

3.5 Mergers, acquisitions, joint ventures, and expansion plans

4. Antifouling Coatings Market by product segmentation

4.1 Global Antifouling Coatings Sales by Product

4.2 Global Antifouling Coatings by Product Revenue

Geographical Scenario:

In this section of the report, market analysts have provided valuable insights into the geographical segmentation of the Antifouling Coatings market. They have further estimated the current and future market valuations on the basis of the demand-supply dynamics and pricing structure of the leading regional segments. Moreover, the growth prospects of each regional segment have been meticulously extensively discussed in the report.

The global Antifouling Coatings market is classified into the following regions:

·         North America (the U.S., Canada)

·         Latin America (Chile, Brazil, Argentina, Rest of Latin America)

·         Europe (the U.K., Italy, Germany, France, Rest of EU)

·         Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

·         The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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