Antifouling Paints and Coatings Market - Forecast(2021 - 2026)

Report Code: CMR 0715 Report Format: PDF + Excel (Delivery in 48 Hrs)

Antifouling Paints and Coatings Market Overview

Antifouling Paints and Coatings Market size is forecast to reach $13.06 billion by 2025, after growing at a CAGR of 9.1% during 2020-2025. Antifouling paints and coatings are a special type of coating that is applied with paint to the bottom of a ship or marine vessel to prevent or retard the degradation of the metallic surface that remains submerged. It helps to improve the longevity and efficiency of vessels. These marine paints are also useful for fixed and floating offshore oil rigs. The growth of the market of antifouling paints and coatings is expected to be driven by the high demand from the marine industry.

Antifouling Paints and Coatings Market Report Coverage

The report: “Antifouling Paints and Coatings Market- Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the antifouling paints and coatings Industry. 
By Type: Copper-Based, Self-Polishing, Hybrid, Hard antifouling, Eroding antifouling, and Others
By Application: Shipping Vessels, Drilling Rigs & Production Platforms, Fishing Boats, Yachts & other Boats, Inland Waterways Transport, Mooring Lines, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • Asia Pacific dominates the antifouling paints and coatings market due to the massive shipbuilding and repair industries.
  • Poor output of vessels due to the growth of organisms will drive the growth of the market in the forecast period.
  • The high penetration of coatings manufacturers in the marine sector is expected to hinder the entry of new players.

Antifouling Paints and Coatings Market Segment Analysis - By Type

Hard antifouling held the largest share in the antifouling paints and coatings market in 2019. Hard antifouling work by releasing biocide from the surface of the coating to deter fouling organisms. Hard antifouling don’t really wear, but abrasive material in the water such as silt and sand may lead to a very minor reduction in the film build. Biocide leaching rate reduces over the lifetime of the product. After a few seasons, there may be a residual build-up of product that needs to be removed. Boats moored in fresh water normally use these types as antifouling are designed to erode in salt water and may not erode sufficiently in fresh water. Eroding antifouling held the second largest share in the antifouling paints and coatings market. Eroding antifouling, also known as soft or ablative antifouling, also work by releasing biocide. However, this type of over antifouling slowly erodes in seawater eventually leaving little or no antifouling on your hull. If you wipe the hull at any time you’ll see a small cloud of product washing away. Overall, eroding antifouling offers very good all-round performance in a wide range of fouling conditions. This factor will drive the growth of the market in the forecast period.

Antifouling Paints and Coatings Market Segment Analysis - By Application

The shipping vessels segment held the largest share in the antifouling paints and coatings market in 2019 growing at CAGR of 10.2%. During a ship’s lifetime microorganisms, plants, or algae gather in its hull, during a process called biofouling. These organisms, known as invasive aquatic species, can negatively affect a ship’s operation, while they also present a threat to the marine environment. 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. Increasing usage of antifouling paints & coatings for protecting vessels from growth of fouling organisms, along with the extension of dry dock intervals. Antifouling paints and coatings are used on shipping vessels to reduce fuel consumption as they decrease frictional resistance and prevent fouling organisms from sticking to the hulls. This factor will drive the growth of the market in the forecast period.
The recent and on-going global outbreak of the Coronavirus (COVID-19) has created a high degree of disquiet amongst the public as to the maintenance of health and safety on board shipping vessels. Fears within the industry are that the impact of COVID-19 will affect sales for a long-time, particularly in the Asian market, which has become a very important market for shipping vessels companies in recent years. But after situation became normal it will grow with steady rate in the forecast period. 
 

Antifouling Paints and Coatings Market Segment Analysis - By Geography

Asia-Pacific (APAC) dominated the antifouling paints and coatings market with a share of more than 48% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia has 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. Moreover, increasing expenditure on exploration and production of crude oil and natural gas in China, India, and Thailand are expected to further fuel demand for these paints in drilling rigs and production platforms. Also, the emergence of Australia and India as manufacturing destinations of shipping vessels owing to regulatory support for promoting new investments at the domestic level is expected to increase industry size. This factor will drive the growth of the market of antifouling paints and coatings in the forecast period. 

Antifouling Paints and Coatings Market Driver

Rise in the ship building sector will drive the growth of the market in the forecast period

The need to import and export goods, as sparked by globalization, made shipbuilding an important strategic industry. The shipbuilding industry is responsible for the design and construction of ocean going vessels all around the world. Most of the global ship production today is concentrated in Asian countries such as China, Japan and South Korea, though large shipyards also exist in many other countries. The shipbuilding industry is involved in the construction and modification of ships and these operations are carried out in specialized facilities called shipyards. Additionally, as more and more countries around the world open their shores to international trade, demand for products manufactured by shipbuilding companies is expected to rise in the next few years. Furthermore, relaxing of trade regulations is projected to help fuel the growth of the global shipbuilding market in terms of facilitating ease of movement of goods across borders. This factor will drive the growth of the market in the forecast period.

Rise in the cruise industry will drive the growth of market in the forecast period

A relatively large number of cruise companies compete for world market shares in different ways, developing innovative commercial strategies and investing multi-million dollar budgets in the research and development of state-of-the-art vessels able to combine the elegance of high quality living spaces with the cutting-edge technological concepts needed to provide stability to these new floating hotels, pushing the boundaries of naval construction and design to the limits for exceptional navigation performance and live board comfort while maintaining the highest standards for safety and environmental management systems. These cruise use large quantity of antifouling paints and coatings because they have to sale entire globe. This factor will drive the growth of the market in the forecast period.

Antifouling Paints and Coatings Market Challenges

Toxic nature of antifouling paints and coatings will hinder the growth of market in the forecast period

The antifouling paints and coatings leach from the paint into sea water, and are absorbed by marine organisms. Persistent and bioaccumilative, they can remain in the environment and increase in concentration up the food chain. And tributyl tin (TBT), one of the most effective organotins released by this paint and coating, is considered  be the most toxic chemical deliberately released into the marine environment. TBT has hormone-disrupting properties. Even at low concentrations it causes deformations in oysters and genital changes in snails. The decline of commercial oysters along the Atlantic coast of France and the UK in the 1970s is attributed to TBT contamination. This factor will hinder the growth of the market in the forecast period.

Antifouling Paints and Coatings Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the antifouling paints and coatings market. In 2019, the market of antifouling paints and coatings has been consolidated by the top five players accounting for XX% of the share. Major players in the antifouling paints and coatings market are BASF, The Sherwin-Williams Company, Chugoku Marine Paints, Ltd., PPG Industries, Inc., and Nippon Paint Marine Coatings Co. Ltd., and Others.

Acquisitions/Technology Launches/Product Launches

  • In June 2019, Leading global coatings manufacturer Hempel is launched Globic 7000, a new antifouling coating with enhanced operational flexibility for all vessel types and a speed loss* of 4.5 per cent, on average (according to ISO 19030). This contributes to significant fuel cost savings, and a reduction in associated emissions, for owners and operators. Globic 7000 is built on Hempel’s proven Globic technology that has been applied to more than 10,000 vessels since its launch in 2002, ensuring uniform and effective biocide release and a clean hull over the entire dry-docking interval.

1. Antifouling Paint and Coatings Market - Market Overview
    1.1 Definitions and Scope 
2. Antifouling Paint and Coatings Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Type 
    2.3 Key trends by Application
    2.4 Key trends by Geography 
3. Antifouling Paint and Coatings Market – Landscape 
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Antifouling Paint and Coatings Market - Startup companies Scenario Premium Premium 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Antifouling Paint and Coatings Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis – Top 10 companies Investment
6. Antifouling Paint and Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Antifouling Paint and Coatings Market -Strategic analysis 
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Antifouling Paint and Coatings Market – By Type (Market Size -$Billion)
    8.1 Copper-Based
    8.2 Self-Polishing
    8.3 Hybrid
    8.4 Hard antifouling
    8.5 Eroding antifouling
    8.6 Others
9. Antifouling Paint and Coatings Market – By Application (Market Size -$Billion)
    9.1 Shipping Vessels
    9.2 Drilling Rigs & Production Platforms
    9.3 Fishing Boats
    9.4 Yachts & other Boats
    9.5 Inland Waterways Transport
    9.6 Mooring Lines
    9.7 Others
10. Antifouling Paint and Coatings Market - By Geography (Market Size -$Billion)
    10.1 North America
        10.1.1 U.S
        10.1.2 Canada
        10.1.3 Mexico
    10.2 South America
        10.2.1 Brazil
        10.2.2 Argentina
        10.2.3 Colombia
        10.2.4 Chile
        10.2.5 Rest of South America
    10.3 Europe
        10.3.1 UK
        10.3.2 Germany
        10.3.3 France
        10.3.4 Italy
        10.3.5 Netherland
        10.3.6 Spain
        10.3.7 Russia
        10.3.8 Belgium
        10.3.9 Rest of Europe
    10.4 Asia-Pacific
        10.4.1 China
        10.4.2 Japan
        10.4.3 India
        10.4.4 South Korea
        10.4.5 Australia and New Zeeland
        10.4.6 Rest of APAC
    10.5 Rest of the World
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 U.A.E
            10.5.1.3 Israel
            10.5.1.4 Rest of the Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Antifouling Paint and Coatings Market - Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Antifouling Paint and Coatings Market Share Analysis Premium
    12.1 Market Share by Country- Top companies
    12.2 Market Share by Region- Top companies
    12.3 Market Share by type of Product / Product category- Top companies
    12.4 Market Share at global level- Top companies
    12.5 Best Practices for companies
13. Antifouling Paint and Coatings Market- List of Key Companies by Country Premium 
14. Antifouling Paint and Coatings Market Company Analysis 
    14.1 Market Share, Company Revenue, Products, M&A, Developments 
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"