Antifouling Paint

The antifouling paint has a crazy growing trends in the past years. According to the WK-chem Research “Global Antifouling Paint Professional Survey Report 2024, Forecast to 2029”, the increasing demand for ship hulls and underwater surfaces, as antifouling paint provides smoothness and excellent polishing effects, is expected to drive growth. The compound annual growth rate (CAGR) for the 2024-2029 period is projected to be 8.63% base on WK-chem Research regression analysis model.


Analysts’ Viewpoint:
“The increasing popularity of condition-based monitoring of fault maintenance in the shipping industry is expected to play a key role in increasing the importance of products. In addition, its superior performance, including prevention of scaling, corrosion and external contamination, is expected to drive growth. The high penetration rate of paint manufacturers in the marine sector is expected to hinder the entry of new players. Therefore, small and medium-sized manufacturers can choose mergers and acquisitions to enhance their corporate strength”, said Lily Lawrence, Data Analyst, Chemical and Material Market Research Center in WK-chem Research.




Market insight:
Rising popularity of condition-based monitoring over breakdown maintenance in the shipping sector is expected to play a crucial role in increasing importance of the product. Also, its superior properties including protection against fouling, corrosion, and external contamination is anticipated to propel growth.
Rising demand for FPSO vessels in the upstream oil and gas industry in light of the increasing application of integrated compact systems in deepwater offshore reserves during extreme weather conditions will stimulate market growth. Moreover, rising production of alternative sources, including shale gas and tight oil in the U.S. is expected to increase the application of FPSO, which in turn will spur antifouling coating market expansion in the near future.
The high penetration of coatings manufacturers in the marine sector is expected to hinder the entry of new players. However, high manufacturing cost associated with the incorporation of coating technology is expected to restrain growth over the forecast period.


Competition Landscape:
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading antifouling paint companies that include: AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), Nippon Paint Marine Coatings Co., Ltd. (Japan), Jotun (Norway), Hempel A/S (Denmark), and Chugoku Marine Paints, Ltd. (Japan), among others.


Segmentation of Antifouling Paint Market:
According to the type, the market for antifouling paint is divided into: Copper-based, Self-polishing Copolymer, Hybrid and Others. Among all types, the copper-based antifouling paints & coatings segment is the fastest-growing type segment in the market, as these coatings are environment-friendly and as such, are increasingly used in hulls and underwater surfaces of shipping vessels. Moreover, copper-based antifouling paints and coatings ensure fouling-free surfaces of ships or boats, which result in substantial fuel savings and consequently reduce emission of greenhouse gases.
According to the application, the market for antifouling paint is divided into Shipping Vessels, Drilling Rigs & Production Platforms, Fishing Boats, Yachts & other Boats, Inland Waterways Transport and Mooring Lines. Shipping Vessels has the largest market share. The use of these coatings extends the dry dock interval and directly saves fuel by keeping the hull free from fouling organisms.


Antifouling Paint Market: Regional Analysis
In terms of geography, the global antifouling paint market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The Asia-Pacific region is the largest antifouling coating market. Shipbuilding activities in South Korea, China, Japan and the Philippines are very active. It is expected that this will lead the Asia-Pacific region to occupy a dominant position in the shipbuilding industry, thereby driving the demand for antifouling paint. In addition, China, India and Thailand continue to increase their spending on crude oil and natural gas exploration and production, which is expected to further drive the demand for these coatings on drilling platforms and production platforms.
Due to the existence of a large number of shipbuilders, China, South Korea and the Philippines are expected to see significant growth. In addition, due to regulatory support to promote new investment at the domestic level, Australasia and India have become shipping and ship manufacturing destinations, which are expected to expand the scale of the industry. The Environmental Protection Agency (EPA) and the European Commission have strictly regulated the use of biocides in personal care, marine, agricultural and water treatment applications, and are expected to reduce the demand for antifouling coatings during the forecast period.

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