Global Antifouling Coatings Market - 2019-2026
|防污塗料的全球市場:2019年-2026年 Global Antifouling Coatings Market - 2019-2026|
|出版日期: 2020年07月18日||內容資訊: 英文||
Antifouling coatings are applied to boats, yachts, or ships to reduce the growth of organisms on the hull and prevent corrosion. Such coatings help in improving the durability and performance of the vessel. These coatings are also used in fixed and floating offshore oil rigs. One of the major trends expected to contribute to the growth of the global antifouling coatings market is the rapid advancements in technology. Companies invest heavily in R&D to further enhance the efficiency of antifouling coatings, which is expected to increase their demand from end-users.
The global Antifouling Coatings market size was worth USD YY million in 2019 and is estimated to reach USD YY million by 2027, at a CAGR of YY% during the forecast period.
Stringent regulations governing the shipbuilding industry and rising oil and gas industry are the two major drivers of the global antifouling coatings market. Urbanization and the increasing demand for oil and gas from the transportation industry contribute to the growth of the market. Antifouling coatings are widely used for the maintenance and protection of machinery and structural infrastructure in rigs. Drilling contractors are expanding their fleets of rigs. This is leading to increased adoption of antifouling coatings, fueling the growth of the market.
Stringent regulations governing the shipbuilding industry and increasing the cost of maintenance of ships and marine equipment are prompting ship owners and drilling contractors to use antifouling coatings. Antifouling coatings reduce fuel consumption, improve the life of vessels, and enable compliance with environmental regulations.
The global Antifouling Coatings market is classified based on application, type, and region. The application segment further classified into vessels and rigs.
The vessels segment is projected to account for the majority share of 8o% of the global antifouling coatings market in 2018. However, the decline in the shipbuilding industry has led to a decline in the registration of new vessels. This has had a negative impact on the market growth. The rigs segment is expected to grow faster than the vessels segment owing to immense opportunities in the oil and gas industry and advances in technology. The rigs segment is expected to account for 20% of the market in 2018. High demands from the oil and gas industry coupled with advancement in technology in APAC is anticipated to drive the demand in this market during the forecast period.
The Asia-Pacific region holds largest market share in 2018 followed by Europe and North America with approximately 54%, 30%, and 8% of the total market respectively. APAC will continue to dominate market over the forecast period owing to immense opportunities in the oil and gas industry in the region.
South Korea, Japan, and China dominated with 80% of the orders of liquefied natural gas tankers. The market has the advantage of low-cost labor, advanced technology, government support, and raw material (steel) availability. Deep- sea drilling boom led to the growth of the offshore segment, driving the market for shipbuilding in APAC. Countries in Southeast Asia are expected to emerge as potential markets during the forecast period. China was the largest producer and consumer in the global antifouling coatings market in 2018. The shipbuilding industry in China has been growing at a fast pace, which is expected to result in high rate of growth in the antifouling coatings market in the country. In addition, innovative technologies and manufacture of large vessels are expected to drive the market in China during the forecast period
The global antifouling coatings market is a moderately competitive market with the presence of only a few players. The major vendors in the market are planning to shift to eco-friendly methods of production owing to increased awareness about sustainability.
"List not exhaustive"