Europe antifouling agent market demand was above 5 kilo tons in 2015. Countries including the UK and Italy where high penetration of yacht manufacturers is noted is likely to be among the key factors to drive the demand in the region.
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U.S. antifouling agent market size witnessed demand of more than 2.5 kilo tons in 2015 and is projected to observe significant growth over the forecast period. Increase in unconventional sources production such as tight oil and shale gas in Canada and the U.S. is expected to favorably impact the industry.
Asia Pacific accounted for over 82% of the overall share in 2015. Marine industry growth in China, South Korea, Japan, Philippines, and Taiwan is likely to foster demand in the region. India and Australia emerging as manufacturing hubs for shipping vessels due to government support for promoting investments at the domestic level is anticipated to augment growth.
Marine antifouling agent market size may witness strong growth over the forecast period. These coatings or paints are applied to marine vessels in order to prevent corrosion; it also helps to improve performance and durability of vessel. Submerged surfaces are affected by bacteria, algae, invertebrates, and diatoms that increase hydrodynamic drag resulting in decreased operational speed & range, and additional fuel consumption. Sometimes, damaging marine organisms get transferred by ships to other areas.
Special chemicals such as organotin compounds, biocides and copper are used to formulate these agent coatings which help in preventing the growth of marine organisms. Protection against corrosion, fouling, and external contamination coupled with increasing condition-based monitoring trend over non-consistent preservation in shipping industry is likely to propel demand.
Antifouling agent market applications are segmented in to shipping vessels and drilling rigs & production platforms. Shipping vessels accounted for over 75% of the global volume in 2015. These paints and coatings are applied in order to enhance vessel performance and strength.
Drilling rigs & production platforms segment is anticipated to grow at a significant rate due to increase in spending for Floating Production & Offloading (FPSO) vessels by the oil & gas industry. Growth in production and exploration of natural gas & crude oil in India, China, and Thailand is likely to be among the key factors to drive demand in the region.
Increase in industries’ preference for eco-friendly products owing to stringent environmental regulations is likely to restrain the industry. Moreover, the raw material price fluctuation is anticipated to impact the antifouling agent market price trend.
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Commercial ships mainly use coatings that consist of synthetic chemical compounds which can harm the environment. The prevention on the use of these coatings led to biologically derived antifouling options which may help to provide the biomimetic and natural antifouling surface coatings. Biomimetic method is likely to promote innovations into developing and designing of non-toxic antifouling technologies.
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the antifouling agent market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Antifouling agent market share consist of PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, Hempel, Advance Marine Coating, Nippon Paint, and Kansai Paint, In August 2015, Jotun launched new production facility in Rio de Janeiro, Brazil specifically for marine coatings. This manufacturing unit is projected to generate over 9 million liters of marine coating products, together with antifouling products.
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