Antifouling agent market size was over 85 kilo tons in 2015, and is expected to exceed 125 kilo tons by 2023, growing at a CAGR of more than 4.5% from 2016 to 2023.
Middle East and Africa (MEA) antifouling agent market size was valued at more than USD 20 million in 2015 and is anticipated to increase further due to increase in capital expenditure for the offshore vessels development in Nigeria, Saudi Arabia, and Angola.
Asia Pacific accounted for over 82% of the overall share in 2015. Marine industry growth in China, South Korea, Japan, Philippines, and Taiwan is likely to foster demand in the region. India and Australia emerging as manufacturing hubs for shipping vessels due to government support for promoting investments at the domestic level is anticipated to augment growth.
Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/326
Marine antifouling agent market size may witness strong growth over the forecast period. These coatings or paints are applied to marine vessels in order to prevent corrosion; it also helps to improve performance and durability of vessel. Submerged surfaces are affected by bacteria, algae, invertebrates, and diatoms that increase hydrodynamic drag resulting in decreased operational speed & range, and additional fuel consumption. Sometimes, damaging marine organisms get transferred by ships to other areas.
Special chemicals such as organotin compounds, biocides and copper are used to formulate these agent coatings which help in preventing the growth of marine organisms. Protection against corrosion, fouling, and external contamination coupled with increasing condition-based monitoring trend over non-consistent preservation in shipping industry is likely to propel demand.
Antifouling agent market applications are segmented in to shipping vessels and drilling rigs & production platforms. Shipping vessels accounted for over 75% of the global volume in 2015. These paints and coatings are applied in order to enhance vessel performance and strength.
Drilling rigs & production platforms segment is anticipated to grow at a significant rate due to increase in spending for Floating Production & Offloading (FPSO) vessels by the oil & gas industry. Growth in production and exploration of natural gas & crude oil in India, China, and Thailand is likely to be among the key factors to drive demand in the region.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/326
Commercial ships mainly use coatings that consist of synthetic chemical compounds which can harm the environment. The prevention on the use of these coatings led to biologically derived antifouling options which may help to provide the biomimetic and natural antifouling surface coatings. Biomimetic method is likely to promote innovations into developing and designing of non-toxic antifouling technologies.
This latest Antifouling Agent Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Antifouling Agent Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
report, “Antifouling Agent Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.”, in detail along with the table of contents.
Key Insights in this Report
- Global Antifouling Agent Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Antifouling Agent Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
Browse Related Report
- Pigments Market Size By Product (Inorganic [Titanium Dioxide, Iron Oxide, Cadmium Pigments, Carbon Black, Chromium Oxide], Organic [Azo, Phthalocyanine, Quinacridone], Specialty [Classic Organic, Metallic, High Performance Organic, Light Interference, Complex Inorganic, Fluorescent, Luminescent/Phosphorescent, Thermochromic]), By Application (Paints & Coatings, Printing Inks, Plastics, Construction Materials), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, India, Brazil, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Company Name: Global Market Insights Inc.
Contact Person: Arun Hegde
Address:29L Atlantic Avenu, Suite L 105
City: Ocean View
Country: United States