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Global Antifouling Paints and Coatings Market Size, Share: By Type: Copper-Based, Self-Polishing Copolymer, Silicone Elastomers, Others; By Application: Shipping Vessels, Drilling Rigs and Production Platforms, Fishing Boats, Yachts and Other Boats, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Antifouling Paints and Coatings Market Outlook
The global antifouling paints and coatings market size reached approximately USD 9.31 billion in 2023. The market is further projected to grow at a CAGR of 8.9% between 2024 and 2032, reaching a value of USD 20.02 billion by 2032.
Key Trends in the Market
Antifouling paints and coatings are used on the underwater surfaces of the ships to prevent the growth of sea life including molluscs and algae, among others, that attach themselves to the hull of the shipping vessels, yachts, and fishing boats. They are often applied as one of the components in multi-layered coating systems and also act as a barrier against corrosion.
- The rising investments and emphasis on enhancing the durability of the shipping vessels by providing them protection against corrosion and reducing frictional resistance is aiding the antifouling paints and coatings market growth. These paints and coatings also reduce fuel consumption as they prevent the aquatic organisms from attaching to the underwater surface of the vessels.
- The growing adoption of condition-based monitoring by the shipping industry is providing lucrative growth opportunities to the market. This predictive maintenance strategy monitors the conditions of the ships by using different types of sensors for extracting data and monitoring assets real-time.
- The development of eco-friendly antifouling paints and coatings is supporting the market expansion. Utilisation of marine friendly coatings and paints ensures that the aquatic environment and animals are not adversely affected.
Global Antifouling Paints and Coatings Market Analysis
On the basis of type, the market is divided into copper-based, self-polishing copolymer, and silicone elastomers, among others. Based on application, the market is classified into shipping vessels, drilling rigs and production platforms, fishing boats, and yachts and other boats, among others.
On the basis of region, the antifouling paints and coatings market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- PPG Industries, Inc.
- Hempel A/S
- The Sherwin-Williams Company
- Jotun A/S
- Nippon Paint Marine Coatings Co., Ltd.
- LANXESS AG
- Gruppo Boero
- Kansai Paint Marine Co., Ltd.
- RPM International Inc.
- Chugoku Marine Paints, Ltd.
- Others
Market Share by Application
Shipping vessels are anticipated to account for a significant antifouling paints and coatings market share. These paints and coating enhance the functioning and durability of the shipping vessels by slowing the growth and facilitating the detachment of subaquatic organisms attached to the hull. They also aid in reducing fuel consumption by decreasing frictional resistance. Antifouling paints and coatings also prevent the build-up of microorganisms, protecting marine habitats and protecting water bodies from contamination.
Market Share by Region
The Asia Pacific is anticipated to account for a significant share of the market in the coming years. This growth can be attributed to the increasing shipbuilding activities in countries including Taiwan, China, and Japan, among others. The increasing investments on production and exploration of natural gas and crude oil is bolstering the antifouling paints and coatings market demand. The utilisation of antifouling paints and coatings is further increasing in the Asia Pacific to enhance the durability and performance of the vessels.
Competitive Landscape
PPG Industries, Inc., headquartered in Pennsylvania, United States, is involved in the development and delivery of antifouling coatings and paints. The company is dedicated towards solving the biggest challenges faced by their customers by providing them with solutions created with creativity and dedication.
Hempel A/S, headquartered in Lyngby, Denmark, is one of the leading suppliers of decorative, antifouling, protective, and marine paints and coatings for various industries across the globe. The products delivered by the company aid in minimising maintenance costs and improving aesthetics.
The Sherwin-Williams Company, headquartered in Ohio, United States, is involved in the manufacture and sale of coatings, paints, floorcoverings, and products for retail and industrial customers. The company’s product portfolio includes Decorative paints, sealants, and antifouling coatings, among others.
Other antifouling paints and coatings market key players include Jotun A/S, Nippon Paint Marine Coatings Co., Ltd., LANXESS AG, Gruppo Boero, Kansai Paint Marine Co., Ltd., RPM International Inc., and Chugoku Marine Paints, Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Antifouling Paints and Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Global Antifouling Paints and Coatings Historical Market (2018-2023)
8.3 Global Antifouling Paints and Coatings Market Forecast (2024-2032)
8.4 Global Antifouling Paints and Coatings Market by Type
8.4.1 Copper-Based
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Self-Polishing Copolymer
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Silicone Elastomers
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Antifouling Paints and Coatings Market by Application
8.5.1 Shipping Vessels
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Drilling Rigs and Production Platforms
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Fishing Boats
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Yachts and Other Boats
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Antifouling Paints and Coatings Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Antifouling Paints and Coatings Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Antifouling Paints and Coatings Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Antifouling Paints and Coatings Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Antifouling Paints and Coatings Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Antifouling Paints and Coatings Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 PPG Industries, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hempel A/S
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 The Sherwin-Williams Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Jotun A/S
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Nippon Paint Marine Coatings Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 LANXESS AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Gruppo Boero
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Kansai Paint Marine Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 RPM International Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Chugoku Marine Paints, Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Antifouling Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
2. Global Antifouling Paints and Coatings Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Antifouling Paints and Coatings Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Antifouling Paints and Coatings Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Antifouling Paints and Coatings Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Antifouling Paints and Coatings Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Antifouling Paints and Coatings Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Antifouling Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Antifouling Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Antifouling Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Antifouling Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Antifouling Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Antifouling Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Antifouling Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Antifouling Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Antifouling Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Antifouling Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Antifouling Paints and Coatings Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 9.31 billion in 2023.
The market is projected to grow at a CAGR of 8.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 20.02 billion by 2032.
The major market drivers include increasing shipbuilding activities and rising investments and emphasis on enhancing the durability of the shipping vessels.
The key trends fuelling the growth of the market include development of eco-friendly antifouling paints and coatings and rising utilisation to ensure fuel efficiency.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of antifouling paints and coatings include shipping vessels, drilling rigs and production platforms, fishing boats, and yachts and other boats, among others.
The key players in the market are PPG Industries, Inc., Hempel A/S, The Sherwin-Williams Company, Jotun A/S, Nippon Paint Marine Coatings Co., Ltd., LANXESS AG, Gruppo Boero, Kansai Paint Marine Co., Ltd., RPM International Inc., and Chugoku Marine Paints, Ltd., among others.
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