Antifouling agents are coatings and specialized paints used on the hulls of ships. They are made of organotin compounds, biocides, and copper. Algae, bacteria, diatoms, and invertebrates affect the submerged surfaces of marine vessels, increasing drag. This results in decreased operational speed and range, as well as increased fuel consumption.
MARKET SCOPE
The "Global Antifouling Agents Market Analysis to 2028" is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the antifouling agents market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading antifouling agents market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global antifouling agents market is segmented into copper based, self polishing, and others.
- On the basis of application, the market is segmented into shipping vessels, drilling rigs abd production platforms, and others.
MARKET DYNAMICS
Drivers:
- Rise in instances of shipbuilding activities and the inclining need to prevent corrosio, is significantly driving the market growth.
- The rising usage in fishing nets to limit algae growth and the higher adoption of biomimetics for newer innovations in non-toxic antifouling technologies is significantly contributing to the expansion of the antifouling agents market.
- The higher prevalence of hydrodynamic drag caused due to bacteria, and algae, together with the increasing concerns over fuel consumption and operational speed is expected to create lucrative growth opportunities for antifouling agents manufacturers.
- Increase in production and exploration of crude oil and natural gas in countries such as China, India, and Thailand and growth in usage of antifouling agents in marine vessels is als propelling the demand of antifouling agents.
Restraints:
- Rise in environmental concerns and increase in the preference for eco-friendly alternatives.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The antifouling agents market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the antifouling agents market in these regions.
IMPACT OF COVID-19 ON ANTIFOULING AGENTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 pandemic has affected major chemical and materials industries, including antifouling agents. Owing to the current pandemic situation, many companies in the antifouling agents industry are experiencing limitations in manufacturing and production activities, as well as logistical problems as a result of ongoing trade restrictions. However, with opening several markets across the globe, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the future demand of the antifouling agents market is anticipated to grow at a positive and steady pace in the coming years.
MARKET PLAYERS
The report covers key developments in the antifouling agents market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from antifouling agents market are anticipated to lucrative growth opportunities in the future with the rising demand for antifouling agents in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the antifouling agents market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Akzo Nobel N.V.
- Chempoint Inc.
- Foshan Boer Ceramic Technique Co. Ltd.
- Hempel Group
- Huisins New Material Technology Co. Ltd.
- Kansai Paint Co., Ltd.
- KCC Marine Coatings
- Nippon Paint
- PPG Industries, Inc.
- The Sherwin-Williams Company