Antifouling
Coating Market strategic research study offers company accounts, industry investors,
and industry members with consequential insights to enable them to make
reliable strategic decisions regarding the opportunities in the global market.
Antifouling Coating Market
research report offers detail overview of industry with all the requisite data
to support tactical business decisions and come up with strategic growth plans.
This study also proposes a comprehensive insight into the development policies
and plans in addition to manufacturing processes and cost structures.
KEY BENEFITS
1. Antifouling Coating market analysis based
on current industry scenario and expected future trends to enable stakeholders
take strategic decisions.
2. Analysis of the factors impacting the Antifouling
Coating market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Antifouling Coating
market top key players and their strategic moves.
5. Evaluation of Antifouling Coating market
trends to provide deep-dive intelligence into every market segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Antifouling Coating market micro-level
analysis based on application, type and geography.
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Industry Insights
Global Antifouling Coating
Market size was 84.4 tons in 2014 and is expected to surpass 130.0 kilo tons
during the forecast period. Antifouling Coating Market is anticipated to
witness considerable growth on account of its rising demand of underwater
surfaces in shipping vessels and hulls as it provides superior polishing effect
and smoothness. To improve the performance and durability of the vessel and to
avoid unwanted growth of sub-aquatic organisms, antifouling coatings are used
as specialized paints and applied to the hull of a ship. Growing consumption in
passenger ships, commercial vessels, cargo, yachts, conventional offshore
drilling rigs and Floating Production Storage & Offloading (FPSO) is
anticipated to boost industry growth from 2015 to 2022.
Preference condition-based
monitoring over breakdown maintenance coupled with increasing popularity in
shipping segment is projected to play a vital role in the products’ growing
prominence and demand. Additionally, superior properties that act as a
shielding agent against corrosion, external contamination and fouling is
expected to fuel market growth.
Application Insights
In 2014, Antifouling
coatings were primarily used in shipping vessels, contributing to more than 80%
of overall volume. These paints extend the dry-docking interval and provide
direct fuel saving by protecting hulls from fouling organisms and corrosion.
Production platforms & drilling rigs are projected witness market growth,
at an estimated CAGR of 8.0% by revenue, over the forecast period. Companies
functioning in oil & gas sector are continuously investing in the market
for The FPSO vessels and thereby this is expected to serve market growth.
Regional Outlook
In 2014, Asia-Pacific was
the dominant player accounting for nearly 85% of the overall volume in 2014.
South Korea, Japan, China, Philippines and Taiwan are major hubs for
shipbuilding activities. This is anticipated to lead to the dominance of
Asia-Pacific in the shipbuilding segment, thus raising demand for antifouling
paints. Furthermore, growing expenditure related to the production &
exploration of crude oil & natural gas in India, Thailand and China, India
are projected to further propel demand for these paints in production platforms
and drilling rigs.
China, Taiwan, Philippines
and South Korea, Taiwan are anticipated to witness substantial gains on account
of presence of a large number of shipbuilding producers. In addition, the
emergence of India and Australia as production units of shipping vessels on
account of regulatory provisions for encouraging new investments and funding at
the domestic level is estimated to expand the market size. The presence of
stringent rules and policies to monitor the use of biocides in agriculture and
water treatment, personal care and marine applications by the European
Commission and EPA is expected to impede antifouling coatings demand from 2015
to 2022.
In September 2013, the
Government of India introduced Draft National Chemical Policy, to uplift the
country’s domestic throughput in the chemical industry to 6% by 2020 from 3% in
2014. Favourable government programs along with growing shipping sector in
India is anticipated to present new opportunities in the next seven years.
Europe’s Antifouling Coating Market, on the other hand, crossed 6.0 kilo tons
in 2014. The market is expected to witness appositive impact owing to high
penetration of yachts manufacturers in UK and Italy.
Competitive Insights
Key market players include
PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, Hempel, Kansai Paint,
Nippon Paint and Advance Marine Coating. In August 2015, Jotun inaugurated a
new production facility with an investment of USD 24.4 million for marine
coatings at Brazil in Rio de Janeiro. The production unit is estimated to
produce 10 million litres of marine coating products, together with antifouling
products.
GLOBIC, and DYNAMICare the
two products that were launched under the brand name in December 2014 for new
shipyard buildings and dry dockings for delivering fuel savings of maximum 3%.
New product development is anticipated to remain a vital success factor for the
market in the foreseeable future.
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