HOME › Press Releases › Antifouling Paints & Coatings Market worth 9.22 Billion USD by 2021
Antifouling Paints & Coatings Market worth 9.22 Billion USD by 2021
The report "Antifouling Paints and Coatings Market by Type (Copper-Based, Self-Polishing, Hybrid, Others), Application (Shipping Vessels, Drilling Rigs & Production Platforms, Others), Region (APAC, Europe, North America, MEA, Latin America) - Global Forecast to 2021", The global Antifouling Paints & Coatings Market is projected to reach USD 9.22 Billion by 2021, at a CAGR of 8.6% from 2016 to 2021. High demand for antifouling paints & coatings from the shipping industry is expected to drive the growth of the market in near future.
Browse 154 market data tables with 48 figures spread through 185 pages and in-depth TOC on "Antifouling Paints and Coatings Market by Type (Copper-Based, Self-Polishing, Hybrid, Others), Application (Shipping Vessels, Drilling Rigs & Production Platforms, Others), Region (APAC, Europe, North America, MEA, Latin America) - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
Shipping vessels was the fastest-growing application segment of the global antifouling paints & coatings market
Shipping vessels segment contributed the largest share to the antifouling paints & coatings market in 2015, and is projected to be the fastest-growing application segment from 2016 to 2021. This growth can be mainly attributed to the increased demand of antifouling paints & coatings, as they provide smoothness and superior polishing effect to hulls and underwater surfaces of shipping vessels.
Copper-based antifouling paints & coatings was the largest segment of the antifouling paints & coatings market
Based on type, the antifouling paints & coatings market has been segmented into copper-based, self-polishing copolymer, hybrid, and others. Copper-based was the largest segment of the market in 2015. Copper-based antifouling paints & coatings are environment friendly, as they ensure foul-free surfaces of shipping vessels. They also help in saving fuel, thereby reducing the emission of greenhouse gases.
Asia-Pacific was the largest market for global antifouling paints & coatings market in 2015, globally
Asia-Pacific was the largest market for antifouling paints & coatings market in 2015, owing to the rise in demand of antifouling paints & coatings in this region. This increased demand can be attributed to the growing number of ship building activities in the region. China, Korea, and Japan are the leading countries in the ship building industry in Asia-Pacific. Low cost of raw materials and labor, as well as the introduction of advanced products is expected to drive the growth of the antifouling paints & coatings market in these countries.
Key players operational in the antifouling paints & coatings market include AkzoNobel N.V. (Netherlands), Hempel A/S (Denmark), BASF SE (Germany), PPG Industries (U.S.), The Sherwin-Williams Company (U.S.), Jotun (Norway), and Chugoku Marine Paints, Ltd. (Japan).
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India