A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Antifouling
Coatings
market. The study,
titled “Antifouling
Coatings Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Antifouling
Coatings Market: Overview
Antifouling
coatings are a special type of coating that is applied with paint to
the bottom of a ship or marine vessel to prevent or retard the
degeneration of the metallic surface that remains submerged. Usually,
subaquatic organisms start building colonies on the parts of the ship
that remain underwater. Excessive growth of these organisms often
leads to a hydrodynamic drag, leading to high fuel consumption and
poor performance. In order to maintain the performance and the life
of the vessel, manufacturers use antifouling coatings that contain
special chemicals designed to prevent growth of algae, barnacles, and
other such living organisms.
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PDF Brochure for more Professional and Technical insights :
The
antifouling coatings market has gained momentum due to rising sea
trade activities, which has led to a rise in the number of ships. The
various types of vessels using antifouling coatings are bulk
carriers, cargo ships, and container ships.
The
research report on the global antifouling coatings market provides a
thorough analysis of the overall market and the answers pertinent to
questions about the scope of the market. The report aims to explain
the competitive scenario and the nature of the vendor landscape to
the readers through well-researched chapters. Furthermore, the
document contains Porter’s Five Forces Analysis and SWOT analysis
to highlight the various factors responsible for the growth or
decline of the overall antifouling coatings market.
Antifouling
Coatings Market: Key Trends and Opportunities
Poor
output of vessels due to the growth of organisms is the primary
driver of the global antifouling coatings market. A drop in speed not
only slows down the time taken for transportation, but also increases
the risk of goods perishing in transit. The possibility of corrosion
of metallic coating and the chances of shipworms causing decay to the
goods prompt ship manufacturers to use antifouling coatings.
Furthermore, the threat of marine organisms being transported out of
their ecosystems and the potential hazard of this to the marine life
is fueling demand for these coatings.
The
new-age antifouling coatings contain special chemicals such as
biocides, organotin compounds, copper, and synthetic chemical
compounds. Unfortunately, these are known to have a negative impact
on the environment. For instance, usage of paints containing
tributyltin has been banned due to high level of toxicity. Companies
in this market are also looking at ways to reduce the use of copper
in antifouling coatings, as copper too has adverse effects on marine
flora and fauna.
On
the other hand, players are looking at using slime for making
antifouling paints that are friendlier to marine life. Technological
advancements and increasing investments in research and development
are likely to create several growth opportunities in the market in
the near future. The burgeoning oil and gas industry is also expected
to offer newer growth platforms to the global antifouling coatings
market.
Antifouling
Coatings Market: Region-wise Outlook
Asia
Pacific dominates the global antifouling coatings market due to the
massive shipbuilding industries in South Korea, Japan, Taiwan, and
the Philippines. Rise of the shipbuilding industry in Asia Pacific is
expected to keep the performance of the antifouling coatings market
steady. Demand for antifouling coatings is also expected to rise in
this region due to increasing expenditure on exploration and
production of natural gas and crude oil in Thailand, India, and
China.
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Market Research Report with ToC & Free Analysis :
The
top players in the global antifouling coatings market are PPG
Industries, Inc., BASF SE, AkzoNobel N.V., Hempel, Archer Daniels
Midland Company, Nippon Paint Holdings Co. Ltd., Jotun,
Sherwin-Williams Company, Chugoku Marine Paints Ltd., Kansai Paint,
and Advance Marine Coatings AS, among others. These companies focus
on developing eco-friendly coatings from palm oil to reconcile the
issue of rising environmental concerns and the need to safeguard the
vessels.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
The
study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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Transparency
Market Research
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