NEW YORK, May 25, 2021 /PRNewswire/ —
The «Antifouling Coatings Market by Application and Geography – Forecast and Analysis 2021-2025» report has been added to Technavio’s offering.
The antifouling coatings market is set to grow by USD 1.96 billion, progressing at a CAGR of almost 10% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The antifouling coatings market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
Technavio’s in-depth market research reports include value chain analysis and validation techniques employed for market sizing on various markets to help industry leaders improve their business.
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Antifouling Coatings Market: Segmentation by Application
Based on the segmentation by application, the market generated maximum revenue in the vessels segment in 2020. Due to factors such as the increased consumption of fuel, increased vessel displacement, and the increased expenses from the requirement of cleaning the ship, there will be an increase in the demand for antifouling coatings. The growth of the segment will be significant over the forecast period.
Antifouling Coatings Market: Segmentation by Geography
51% of the market’s growth will originate from APAC and held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the growth of the shipbuilding industry which will significantly influence the antifouling coatings market growth in APAC over the forecast period. China and India are the key markets for antifouling coatings in APAC.
Antifouling Coatings Market: Opportunities
Factors such as the new developments in shipping logistics and projects in developing economies, the growing oil, and gas segment, and increasing offshoring activities are enhancing the growth of the market. Over the years, countries across the world have been making significant investments in the shipping industry. This will create considerable demand for the antifouling coatings market, thereby opening several growth opportunities for market vendors.
Know more about Techanavio’s analysis on the impact of Disruption Threats comparing Disruptive sources and Factors driving disruption:
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Key Market Dynamics:
- Growth in the shipbuilding industry
- Impact on the performance of vessels
- The increasing number of passenger cruises
- The fluctuating cost of raw materials
- Harmful effects of chemicals on the environment
- Regulations differing from country to country
- Akzo Nobel NV
- Altex Coatings Ltd.
- BASF SE
- DuPont de Nemours Inc.
- Hempel AS
- Jotun AS
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- The Sherwin-Williams Co.
Get more insights about the global trends impacting the future of the antifouling coatings market,
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Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the antifouling coatings market report.
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Geography
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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