This Bio Fouling Prevention Coatings market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Bio Fouling Prevention Coatings market.
Bio-Fouling Prevention Coatings Market: Introduction
Bio-fouling is defined as growth of undesired marine organisms such as, barnacles, mussels, seaweeds and other marine organisms on the submerged surfaces. Bio-fouling prevention coatings are specialized category of coating applied to the submerged surface to slow the growth of bio-fouls. Bio-fouling is among the prominent challenge faced marine industry, as the hull of the ship is submerged in the water it attracts the growth of marine organism such as algae and mussels. Accumulation of bio-fouls on the surface for longer duration leads to degradation of the hull surface, such as corrosion and rusting of steels and iron, which leads to a great deal of economic loss to the marine industry. Hence bio-fouling coatings are utilized to reduce or preventing the accumulation of bio-fouls on the submerged surfaces. Further, accumulation of bio-fouling on the hull of the ship result in significantly increase in drag force subsequently slowing down the ship and increasing the fuel consumption and consequently, CO2 emission. Hence, the significance of bio-fouling prevention coatings has increased multifold over the period of past few decades.
Bio-Fouling Prevention Coatings: Market Dynamics
In the recent years, the popularity of marine leisure and recreational activities has increased multifold in turn is leading to increase in marine fleet which are prone to corrosion with the formation of algae and other bio-organisms thereby creating the demand for bio-fouling prevention coatings. Furthermore, with the recovery in oil and gas prices, E&P companies are investing in offshore drilling and exploration activities and increasing investment by government in countries such as U.S., China and India among others in order to improve their novel strength are some of the factors expected to boost the growth of market over the coming years. Further, growing demand for marine coatings as well as protective coating from various industries such as food & beverages, pharmaceuticals and health care among others is also anticipated to contribute towards the growth of bio-fouling prevention coatings market.
However, as most of the bio-fouling prevention coatings rely on the use of biocides and other toxic chemicals such as tributyltin, leading to environmental pollution and causing serious harmful effects on marine life. Hence, International organizations such as Marine Environment Protection Committee (MEPC) and International Maritime Organization (IMO) among others have restricted the use of such harmful chemicals. Hence, rising environmental concern along with increasing stringent regulations across the globe due to growing environmental concern is expected to slightly hamper the growth of bio-fouling prevention coatings market. Nevertheless, with the growing environmental concern and stringent regulations various companies are focusing on the development of innovative environmentally coatings with limited use of biocides and reducing the copper content in the bio-fouling prevention coatings.
Bio-Fouling Prevention Coatings: Regional Outlook
Asia Pacific, led by China is anticipated to dominate the global bio-fouling prevention coatings market. Increase in demand for luxury cruising in Asia Pacific along with increasing investment in the shipbuilding industry in countries such as China, Japan and South Korea is expected to further propel the growth of bio-fouling prevention coatings market in the region. Increasing inclination towards the recreational and outdoor activities along with increasing health consciousness in North America and Europe is expected to ramp up the demand for bio-fouling prevention coatings over the forecast period. Further, increasing investment in defense sector by U.S. government is also expected to fuel the growth of the market over the coming years. Latin America bio-fouling coatings market is expected to create significant growth opportunities over the coming years primarily due to increasing tourism activities coupled with positive economic outlook in the countries such as Brazil, Costa Rica, Argentina and Mexico. MEA bio-fouling prevention coatings market is expected to grow at a relatively slower pace over the coming years.
Bio-Fouling Prevention Coatings: Key Participants
Examples of some of the market participants operating in the global bio-fouling prevention coatings market are as follows:
- Extreme Coatings
- Evonik Industries
- AkzoNobel N.V.
- The Sherwin-Williams Company
- PPG Industries Inc.
- Wärtsilä Corporation
- Sea Hawk Paints
- Axalta Coatings Systems
- The Valspar Corporation
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Bio-Fouling Prevention Coatings: Market Segmentation
On the basis of end use, the global bio-fouling prevention coatings market can be categorized as:
- Marine Industry
- Commercial vessel
- Fishing vessel
- Military vessel
- Recreational and leisure boats
- Food & Beverages
On the basis of type, the global bio-fouling prevention coatings market can be categorized as:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Bio Fouling Prevention Coatings Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Bio Fouling Prevention Coatings Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.