Antifouling Paints and Coatings Market - Global Forecast to 2021 - New Market Report

Antifouling Paints and Coatings Market by Type (Copper-Based, Self-Polishing, Hybrid, Others), Application (Shipping Vessels, Drilling Rigs & Production Platforms, Others), Region (APAC, Europe, North America, MEA, Latin America) - Global Forecast to 2021

"The global antifouling paints & coatings market is projected to grow at a CAGR of 8.6% from 2016 to 2021"

The global antifouling paints & coatings market is projected to reach USD 9.22 billion by 2021, at a CAGR of 8.6% between 2016 and 2021. High demand of antifouling paints & coatings from the shipping industry is propelling the growth of this market.

"The shipping vessel segment is the largest application segment in the global antifouling paints & coatings market"

There is an increased demand for antifouling paints & coatings in hulls and underwater surfaces of shipping vessels, as they provide smoothness and great polishing effect to these surfaces. Thus, the growing usage of antifouling paints & coatings in the underwater surfaces and hulls of ships & boats is expected to contribute towards the growth of the shipping vessels segment of the global antifouling paints & coatings market during the forecast period.

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"The copper-based antifouling paints & coatings segment is the largest type segment in the global antifouling paints & coatings market"

The copper-based antifouling paints & coatings segment accounted for the largest share of the global antifouling paints & coatings market in 2015. Copper-based antifouling paints & coatings are environment-friendly and ensure fouling-free surfaces of ships or boats, which result in substantial fuel savings and consequently reduce emission of greenhouse gases.

"Asia-Pacific led the global antifouling paints & coatings market"

The Asia-Pacific region accounted for the largest share of the global antifouling paints & coatings market in 2015. The Asia-Pacific antifouling paints & coatings market is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the growing demand of antifouling paints & coatings from the shipping industry for various applications, such as shipping vessels, drilling rigs & production platforms, and fishing boats, among others.

Profile break-up of primary participants for the report:

* By Company Type - Tier 1 - 55 %, Tier 2 - 20%, Tier 3 - 25%
* By Designation - C level - 75%, Manager level - 25%
* By Region - North America - 10%, Europe - 20%, Asia-Pacific - 30%, Middle East & Africa - 20%, Latin America - 20%

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