Antifouling Coatings Market Size

Global Antifouling Coatings Market Overview

Antifouling Coatings Market Size was valued at USD 165.2 Billion in 2023. The antifouling coatings market industry is projected to grow from USD 192.06 Billion in 2024 to USD 407.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2024 - 2032). Increased demand for importing and shipping and are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Antifouling Coatings Market Trends

• Increased demand for importing and shipping is driving the market growth

Market CAGR for the antifouling coatings market is driven by the large pharmaceutical companies shipping goods that ization has sparked; antifouling coating has developed into a crucial industry. The design and construction of ships are handled by the antifouling coating industry on a  scale. Asian nations like China, Japan, and South Korea produce most of the world's boats, but there are also sizable shipyards in many other areas. The design and customization of vessels, which is the main focus of the shipbuilding industry, is carried out in shipyards, which are specialized workplaces. In the upcoming years, demand for goods made by the antifouling coating industry is anticipated to rise as more and more nations open their borders to international trade.

The upstream oil and gas industry is anticipated to have a greater need for FPSO vessels due to the increased use of integrated compact systems in deepwater offshore reserves during bad weather. The increased production of alternative sources like shale gas and tight oil in the United States is anticipated to boost the antifouling coatings market. More people will be purchasing antifouling paints. With more money invested in the exploration and production of natural gas and crude oil in China, India, and Thailand, demand for these paints is anticipated to increase. The existence of so many shipbuilding companies is good news for the economies of China, South Korea, Taiwan, and the Philippines. The promotion of new investments at the local level will also aid in the expansion of the industry.

Businesses invest much money in R&D to improve antifouling coatings, which should increase consumer demand. On the strength of several factors, including the  adoption of increasingly sophisticated technologies, the market for antifouling coatings is anticipated to grow. The Environmental Protection Agency (EPA) and the European Commission have strict regulations that monitor the use of biocides in personal care, marine, agricultural, and water treatment applications, which is expected to decrease demand for antifouling coatings over the forecast period. Over the forecast period, favorable government policies are anticipated to create new opportunities and a positive outlook for the North American shipping industry. In the water treatment process, biocides are used to prevent the growth of bacteria, algae, and other harmful microorganisms. They support preserving the efficacy and security of industrial water systems, swimming pools, cooling towers, and drinking water quality. Due to factors like rising oil and gas consumption, population growth, and urbanization, the antifouling coatings market is expanding. On oil rigs, these are also frequently used as security measures for buildings and equipment. Thus, driving the antifouling coatings market revenue.

Antifouling Coatings Market Segment Insights

Antifouling Coatings Type Insights

Based on type, the antifouling coatings market segmentation includes copper-based, biocides, self-polishing copolymer, and hybrid. The biocides segment dominated the market, in hospitals, laboratories, food processing plants, and public areas, biocides are frequently used to disinfect and sanitize surfaces, tools, and equipment. They support the eradication of pathogenic microorganisms and stop the spread of disease. In water treatment, biocides prevent the growth of bacteria, algae, and other harmful microorganisms. They support preserving the efficacy and security of industrial water systems, swimming pools, cooling towers, and drinking water quality.

Figure 1:  Antifouling Coatings Market, by Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Antifouling Coatings Applications Insights

Based on applications, the antifouling coatings market segmentation includes shipping vessels, drilling rigs, fishing boats, yachts, boats, mooring lines, and inland water transportation. The shipping vessels category generated the most income. The term "biofouling" describes the gradual accumulation of microorganisms, plants, or other types of green growth on a watercraft. These creatures are considered invasive due to the disruption they may cause to human boating activities and the fact that they pose a threat to the marine environment. Antifouling entails repairing a boat's skeleton using materials that have been carefully chosen.

Antifouling Coatings Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American antifouling coatings market will dominate this market, Over the forecast period, favorable government policies are anticipated to create new opportunities along with a positive outlook for the North American shipping industry.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  ANTIFOULING COATINGS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s antifouling coatings market accounts for the second-largest market share. The Environmental Protection Agency (EPA) and the European Commission have strict regulations that monitor the use of biocides in personal care, marine, agricultural, and water treatment applications, which is expected to decrease demand for antifouling coatings over the forecast period. Further, the German antifouling coatings market held the largest market share, and the UK antifouling coatings market was the fastest-growing market in the European region.

The Asia-Pacific Antifouling Coatings Market is expected to grow at the fastest CAGR from 2023 to 2032. more people will be purchasing antifouling paints. With more money invested in the exploration and production of natural gas and crude oil in China, India, and Thailand, demand for these paints is anticipated to increase. The existence of so many shipbuilding companies is good news for the economies of China, South Korea, Taiwan, and the Philippines. The promotion of new investments at the local level will also aid in the expansion of the industry. Moreover, China’s antifouling coatings market held the largest market share, and the Indian antifouling coatings market was the fastest-growing market in the Asia-Pacific region.

Antifouling Coatings Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the antifouling coatings market grow even more. Market participants are also undertaking various strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The antifouling coatings industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  antifouling coatings industry to benefit clients and increase the market sector. The antifouling coatings industry has offered some of the most significant advantages in recent years. Major antifouling coatings market players include AkzoNobel N.V., Sherwin Williams Company, Jotun, PPG Industries Inc., Kansai Paint Co., Ltd., Nippon Paint Holdings Co. Ltd, BASF SE, Chugoku Marine Paints, Ltd., Boero, Hempel A/s and others, are attempting to increase market demand by investing in research and development operations.

BASF SE, We at BASF think people are the key to our long-term success and everyone has talent. We give our employees the resources, direction, and chances they need to advance and succeed in both their professional and personal lives to do this. We create chemistry by giving you the assistance required to perform at your peak and achieve your goals. After all, your success is correlated with ours. Whatever career path you want, BASF is a fantastic place to start.

Nippon Paint Holdings Co. Ltd,  Respect, trust, empowerment, and accountability are the cornerstones of our special strategy with partner companies. These collaborations act as a potent catalyst for growth and innovation. The limitless potential of science and imagination results in revolutionary inventions and helpful advancements that protect, improve, and enrich the world.

Key Companies in the antifouling coatings market include

• AkzoNobel N.V.


• Sherwin Williams Company


• Jotun


• PPG Industries Inc.


• Kansai Paint Co., Ltd.


• Nippon Paint Holdings Co. Ltd


• BASF SE


• Chugoku Marine Paints, Ltd.


• Boero


• Hempel A/s

Antifouling Coatings Industry Developments

March 2022: an 18,891dwt Pure Car Carrier (PCC) received an application of Nippon Paint Marine's ground-breaking antifouling technology FASTAR, making this ship type the fourth to receive the novel nanodomain coating. Since its introduction in January of this year, the high-performing, self-polishing antifouling technology has been installed on more than 60 ships, including bulk carriers, chemical carriers, VLCCs, containerships, passenger vessels, and PCCs. During a recent drydocking at a shipyard in Shanghai, FASTAR I, a self-polishing antifouling paint, was applied to the 196m long ship's flat bottom, vertical bottom, and boot-top, covering a 7800m3 underwater area. One coat of FASTAR and one coat of anti-corrosive paint were deemed adequate to meet the unidentified vessel's 36-month drydocking schedule.

Antifouling Coatings Market Segmentation

Antifouling Coatings Type Outlook

• Copper Based


• Biocides


• Self-Polishing Copolymer


• Hybrid

Antifouling Coatings Applications Outlook

• Shipping Vessels


• Drilling Rigs


• Fishing Boat


• Yachts


• Boats


• Mooring Lines


• Inland Water Transportation

Antifouling Coatings Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America