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Antifouling Agent Market is Expected to Witness a Significant Growth by 202... PowerPoint PPT Presentation


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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 (forecast period). It derives much of its demand from the shipping industry.

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Antifouling agent market is expected to witness a significant growth by 2024 research report by hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

Antifouling Agent Market Analysis, Size, Share, Growth, Industry

Trends and Forecast Report up to 2024 - Hexa Research

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.

Contact: +1-800-489-3075

Email : [email protected]

Website: http://www.hexaresearch.com/


Antifouling agent market is expected to witness a significant growth by 2024 research report by hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

Antifouling 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 Detail Report@

https://www.hexaresearch.com/research-report/antifouling-agent-market

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.

Contact: +1-800-489-3075

Email : [email protected]

Website: http://www.hexaresearch.com/


Antifouling agent market is expected to witness a significant growth by 2024 research report by hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

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@ https://www.hexaresearch.com/research-

category/paints-coatings-and-printing-inks-industry

About Us:

Hexa Research is a market research and consulting organization, offering industry reports,

custom research and consulting services to a host of key industries across the globe. We

offer comprehensive business intelligence in the form of industry reports which help our

clients obtain clarity about their business environment and enable them to undertake

strategic growth initiatives.

Contact: +1-800-489-3075

Email : [email protected]

Website: http://www.hexaresearch.com/


Antifouling agent market is expected to witness a significant growth by 2024 research report by hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

Contact Us:

Ryan Shaw

Hexa Research

Felton Office Plaza

6265 Highway 9

Felton, California 95018

United States

Phone: +1-800-489-3075

Email: [email protected]

Website - http://www.hexaresearch.com/

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Contact: +1-800-489-3075

Email : [email protected]

Website: http://www.hexaresearch.com/


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