Global Marine Anti-Fouling Coatings Market Outlook 2019-2024 with AkzoNobel, PPG Industries, Jotun, Hempel, and BASF Dominating – ResearchAndMarkets.com

The "Marine Anti-Fouling Coatings Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The marine anti-fouling coatings market is expected to grow at a CAGR of around 6% during the forecast period of 2019-2024.

The major factors driving the growth of market studied are the increasing production of leisure boats & cruise ships, increase in ship repairs & maintenance activities, and growing demand from oil and gas industry. On the flipside, stringent government regulations, and increased usage of high standard durable products, are hampering the growth of the studied market.

Key Highlights

• Hull coating segment dominated the market in 2018 and is likely to grow during the forecast period, with increasing demand from the shipbuilding industry across the globe.
• The increasing expenditure on luxury goods, and new innovative coatings & application technology are likely to provide opportunities for the studied market during the forecast period.
• Asia-Pacific dominated the market across the globe, where the growth is majorly driven by the growing demand from the ship-building industry.

Major Market Trends

Hull Coatings Segment to Dominate the Market

• Anti-fouling hull coating applications dominate the studied market because of increasing production of offshore ships, which include passenger and cargo, along with offshore drilling activities.
• Anti-fouling hull Coatings are primarily applied to the under-water parts of a ship or yacht, to reduce the growth of the organisms and microbes in the parts attached to the hull. The coatings provide enhancement and durability along with providing benefits, such as self-cleaning and graffiti resistance.
• Its self-polishing resin and biocide, such as cuprous oxide along with a booster biocide, help to prevent bio-fouling organisms.
• Hull coatings, owing to their excellent adhesion & anti-corrosive properties (which help increase the durability of hulls), and their aesthetic properties, have become an integral part of the marine industry.
• With recovery of prices in oil & gas industry, the exploration & production has started increasing across the globe. The major increase in oil & gas offshore exploration activities is noticed in North Sea, North America, and Middle Eastern regions. With this, the demand for vessels is also increasing in these regions.
• Besides, the demand for passenger, bulk containers, and container vessels is also increasing with growing population, and growing trade between nations.
• Such trends across the globe have been leading to the growth of production in ship building industry, which is further expected to drive the demand for anti-fouling hull coatings in the coming years.

Asia-Pacific to Dominate the Global Market

• Asia-Pacific region dominated the global market share in 2018. Asia-Pacific is the world largest ship producing region in the world, which caters to the demand for various types of vessels, ranging from ferries, small boats, fishing vessels, tow & tug boats to oil industry vessels, cargo ships, passenger ships, bulk carriers, and container ships.
• In Asia-Pacific, countries, such as China, Japan, and South Korea, are the leading producers of vessels, while large shipyards also exists in various other nations of the region.
• Ships are mainly built after procuring projects and according to the customer requirements. It takes a minimum of 2 years to complete the production of a ship. Currently, such countries have been receiving bulk orders for vessels.
• For instance, in November 2018, three South Korean yards, namely Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, and Samsung Heavy Industries won more than 50 orders for new large-scale LNG tankers which has to be delivered in the next three years. Besides, China, holds contract to build 24 vessels, Japan 15 vessels, and Singapore 1 vessel.
• Hence, such bulk orders in line for production are projected to drive the demand for anti-fouling coatings from shipbuilding industry in the region during the forecast period.

Competitive Landscape

The marine anti-fouling coatings market is a consolidated market, where few players account for a significant share of the market demand. Some of the major players in the market include AkzoNobel N.V., PPG Industries Inc., Jotun, Hempel AS, and BASF SE, amongst others.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Production of Leisure Boats and Cruise Ships

4.1.2 Increase in Ship Repairs and Maintenance Activities

4.1.3 Growing Demand from Oil & Gas Industry

4.2 Restraints

4.2.1 Stringent Government Regulations

4.2.2 Increased Usage of High Standard Durable Products

4.3 Industry Value-Chain Analysis

4.4 Porters 5 Force Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Consumers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products and Services

4.4.5 Degree of Competition

5 MARKET SEGMENTATION

5.1 Type

5.1.1 Copper-based

5.1.2 Self-Polishing (Silver-based)

5.1.3 Hybrid

5.1.4 Other Type

5.2 Application

5.2.1 Hull Coatings

5.2.2 Tank Coatings

5.2.3 Others

5.3 Geography

5.3.1 Asia-Pacific

5.3.1.1 China

5.3.1.2 India

5.3.1.3 Japan

5.3.1.4 South Korea

5.3.1.5 Rest of Asia-Pacific

5.3.2 North America

5.3.2.1 United States

5.3.2.2 Canada

5.3.2.3 Mexico

5.3.3 Europe

5.3.3.1 Germany

5.3.3.2 United Kingdom

5.3.3.3 France

5.3.3.4 Italy

5.3.3.5 Rest of Europe

5.3.4 South America

5.3.4.1 Brazil

5.3.4.2 Argentina

5.3.4.3 Rest of South America

5.3.5 Middle East & Africa

5.3.5.1 Saudi Arabia

5.3.5.2 South Africa

5.3.5.3 Rest of Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 Axalta Coatings Systems

6.4.2 Akzo Nobel N.V.

6.4.3 PPG Industries

6.4.4 Kansai Paint Co. Ltd.

6.4.5 Dow

6.4.6 DuPont

6.4.7 Engineered Marine Coatings

6.4.8 Hempel AS

6.4.9 Chukogu Marine Paints Ltd.

6.4.10 BASF SE

6.4.11 Boero Bartolomeo S.p.A.

6.4.12 Jotun

6.4.13 Sigma-Aldrich (Merck KGaA)

6.4.14 RPM International, Inc.

6.4.15 Sherwin-Williams (including Valspar)

6.4.16 Nippon Paint Marine Coatings Co. Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Increasing Expenditure on Luxury Goods

7.2 New innovative Coatings and Application Technology

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