Antifouling Agent Market Trends and Analysis Report, 2024

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Your Catalyst To a Lucrative Business Antifoulin
g Agent Market Analysis, Size, Share, Growth,
Industry Trends and Forecasts to 2024 - Hexa
Research
" The global antifouling agent market surpassed
84 kilo tons in 2015. It is expected to exceed
131 kilo tons by 2024. The industry is
likely to grow at a CAGR of about 4.5 from
2016 to 2024."
The size of the worldwide Antifouling Agent
Market in 2015 was nearly 84 kilo tons. Ongoing
trends suggest that it will grow at a CAGR of
about 4.5 during the forecast period (2016 to
2024). Demand for antifouling agents (paints
coatings) in the shipping industry will drive
this market. Antifouling agents are specialized
paints coatings used on the hulls of ships.
These agents provide vessels with the required
smoothness and polished effect. Submerged
surfaces of boats and rigs attract algae,
bacteria, barnacles, diatoms, and shellfish,
which increase hydrodynamic drag. These organisms
not only damage the vessel body, but also
increase fuel consumption and decrease
maneuverability. Such conditions lead to safety
hazards. Paints coatings enhance the strength
and performance of vessels by controlling the
growth of these sub-aquatic organisms. Antifoulin
g agents are made of biocides, organotin
compounds, and copper. These materials protect
the vessel from external fouling, contaminations,
and corrosion. Rapid growth in the oil gas
industry is set to bolster the growth prospects
of the antifouling agent industry. Browse
Details of Report _at_ https//www.hexaresearch.com/r
esearch-report/antifouling-agent-market
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Your Catalyst To a Lucrative Business Stringent
environmental regulations by the Environmental
Protection Agency (EPA) and the European
Commission are nudging market players to adopt
eco-friendly alternatives. Such a development
could inhibit industrial growth. Moreover, the
volatile prices of raw materials can negatively
impact the global product price, thereby
hampering industrial growth. The industry is
segmented into applications, types, and regions.
Applications comprise shipping vessels and
drilling rigs production platforms. Shipping
vessels contributed to around 80 of the global
volume in 2015. However, drilling rigs
production platforms will exhibit considerable
growth owing to high investments by oil gas
industries. These investments are mainly directed
towards the development of Floating Production
Storage Offloading (FPSO) vessels. Types
encompass copper-based, hybrid, self-polishing,
and other. Copper-based antifouling agents is
expected to continue its dominance during the
forecast period. Its demand can be attributed to
its eco-friendly properties. Regions are divided
into North America, Europe, Asia Pacific, Latin
America, and the Middle East Africa (MEA). Asia
Pacific held a share of more than 80 in 2015.
Growth of the shipbuilding industry in countries,
such as Taiwan, China, South Korea, Philippines,
and Japan, can boost demand in the region.
Moreover, the supply of cheap raw materials
labor contributes to the industry in these
countries. Australia and India are the upcoming
ship manufacturing centers in the global market.
This owes to the increased governmental support
being extended to these markets. Favorable
policies and a constructive outlook towards the
shipping sector are anticipated to create
opportunities for further growth. Rise in the
production of unconventional energy sources, such
as shale gas and tight oil in Northern America
will also support the industry. Europe held a
demand capacity exceeding 5 kilo tons in 2015.
Italy and the United Kingdom are witnessing
robust growth on account of an increase in yacht
manufacturers. MEA was valued at USD 20 million
in 2015. The market can register high growth
because of offshore vessels development in
countries like Saudi Arabia, Angola, and
Nigeria. The prominent competitors of the
antifouling agent market are Advanced Marine
Coating, AkzoNobel, Hempel, Jotun, and PPG
Industries. Companies engage in acquisitions,
expansions, partnerships, launch of new
technology product, and research development
to expand their respective businesses. Browse
Related Category Market Reports_at_
https//www.hexaresearch.com/research-category/pai
nts- coatings-and-printing-inks-industry
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• Your Catalyst To a Lucrative Business
• Table of Content of Antifouling Agent Market
• Methodology Scope
• Research Methodology
• Research Scope Assumptions
• List of Data Sources
• 2. Executive Summary
• 2.1 Industry Summary of Antifouling Agent Market
• Industry Outlook
• Antifouling Agent Market Segmentation
• Antifouling Agent Market Size and Growth
  Prospects
• Antifouling Agent Market Dynamics
• Key Opportunities Prioritized
• Industry Analysis - Porter's
• Market Share Analysis

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• Your Catalyst To a Lucrative Business
• 6.1.4 Strategic Initiatives
• AkzoNobel
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• Hempel
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• Jotun
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• PPG Industries
• Company Overview

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Your Catalyst To a Lucrative Business About
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