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Antifouling Paints and Coatings Market by Type , Application , Region - Global Forecast to 2021

Antifouling Paints and Coatings Market by Type , Application , Region - Global Forecast to 20212016.10.09

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NEW YORK, Oct. 6, 2016 /PRNewswire/ -- "The global antifouling paints & coatings market is projected to grow at a CAGR of 8.6% from 2016 to 2021"

The global antifouling paints & coatings market is projected to reach USD 9.22 billion by 2021, at a CAGR of 8.6% between 2016 and 2021. High demand of antifouling paints & coatings from the shipping industry is propelling the growth of this market.

"The shipping vessel segment is the largest application segment in the global antifouling paints & coatings market"

There is an increased demand for antifouling paints & coatings in hulls and underwater surfaces of shipping vessels, as they provide smoothness and great polishing effect to these surfaces. Thus, the growing usage of antifouling paints & coatings in the underwater surfaces and hulls of ships & boats is expected to contribute towards the growth of the shipping vessels segment of the global antifouling paints & coatings market during the forecast period.

"The copper-based antifouling paints & coatings segment is the largest type segment in the global antifouling paints & coatings market"

The copper-based antifouling paints & coatings segment accounted for the largest share of the global antifouling paints & coatings market in 2015. Copper-based antifouling paints & coatings are environment-friendly and ensure fouling-free surfaces of ships or boats, which result in substantial fuel savings and consequently reduce emission of greenhouse gases.

"Asia-Pacific led the global antifouling paints & coatings market"

The Asia-Pacific region accounted for the largest share of the global antifouling paints & coatings market in 2015. The Asia-Pacific antifouling paints & coatings market is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the growing demand of antifouling paints & coatings from the shipping industry for various applications, such as shipping vessels, drilling rigs & production platforms, and fishing boats, among others.

Profile break-up of primary participants for the report:

- By Company Type - Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%

- By Designation – C level – 75%, Manager level – 25%

- By Region – North America - 10%, Europe – 20%, Asia-Pacific – 30%, Middle East & Africa – 20%, Latin America - 20%

Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as AkzoNobel N.V. (Netherlands), BASF S.E. (Germany), Nippon Paint Marine Coatings Co., Ltd. (Japan), PPG Industries (U.S.), The Sherwin-Williams Company (U.S.), Jotun (Norway), Hempel A/S (Denmark), Chugoku Marine Paints, Ltd. (Japan), Boero YachtCoatings (Italy), and Kop-Coat Marine Group (PETTIT Marine Paint) (U.S.).

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