According to the latest report released by Puna -- MarketsandMarkets, the global market value of anti fouling coating
is expected to reach 9.22 billion dollars by 2021, and the composite annual growth rate between 2016 and 2020 is about 8.6%. It is expected that the high demand for anti fouling coatings in the shipping industry will be the main driving force for future market growth.
The shipping industry is the fastest growing application area of anti fouling coatings in the world. In 2015, it occupied the largest market share in the world. From 2016 to 2021, it is expected to become the fastest growing market for application demand.
According to the types of coatings, the market of anti fouling coatings can be divided into copper-based type, self-polishing copolymer type, mixed type and other types. In 2015, the market share of copper-based coatings is the largest. According to the report, copper-based anti fouling coatings belong to environmentally friendly coatings, which ensure clean surface and hull, save fuel and reduce greenhouse gas emissions.
In 2015, the Asia-Pacific region became the largest market for anti fouling coatings. As shipbuilding activities became more frequent, the demand for anti fouling coatings continued to grow. China, Korea and Japan are the most developed countries in the Asia-Pacific region. Cheap labor, low raw material costs and the introduction of advanced materials are expected to contribute to the constant expanding of the anti fouling coatings market in these countries.
Anti fouling coatings and paints are basically classified into copper-based type, self-throwing type, mixed type and other types. According to their application, they can be divided into ships, drilling equipment, production platforms and others, while based on regions, they can be spit into Asia-Pacific, Europe, North America, Middle East, Africa and Latin America.