Antifouling Yacht Coatings Market Size, Share, Growth, Trends, and Forecast by 2031

MARKET INTRODUCTION

Antifouling yacht coatings are used to inhibit the growth of marine species, such as algae, tubeworms, barnacles and mollusks, in the seawater hull of a yacht. Accumulation of fouling and micro-organisms influences the movement of the yacht by generating surface resistance, further decreasing the speed of the yacht and increasing fuel consumption in order to maintain speed. Antifouling coatings are required for the maintenance of yachts and the yacht must be reused after a specified period of time or distance travelled.

MARKET DYNAMICS

Due to the global widespread of COVID-19, the tourism industry was adversely affected. This has influenced the use of the yacht, thereby raising the need to prevent the growth of marine species in the yacht, which is expected to fuel market growth. In addition, anti-fouling coatings prevent corrosion from eroding on the surface, which is necessary to protect the outer shell surface. As a result of the ban on Tributyltin (TBT), copper-based antifouling yacht coatings are widely used as alternatives. Availability, efficiency, and relative cost-effectiveness compared to biocides are driving demand for copper-based anti-fouling yacht coatings. Restrictions on the use of copper-based anti-fouling yacht coatings can further affect the growth of the market in the coming years. For example, according to the National Marine Manufacturers Association (NMMA), Washington, U.S., has issued a ban on anti-fouling coatings containing more than 0.5% copper for recreational craft, and the regulation is scheduled to be effective until January 2031.

MARKET SCOPE

The "Global Antifouling Yacht Coatings Market Analysis to 2031" is a specialized and in-depth study of the Chemical and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the antifouling yacht coatings market with detailed market segmentation by type, application, and geography. The global antifouling yacht coatings market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading antifouling yacht coatings market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global antifouling yacht coatings market is segmented on the basis of application and region. On the basis of application the global antifouling yacht coatings market is segmented into super yacht, flybridge yacht, sport yacht, long range yacht, sailing yacht, and motor yacht. Based on geography the global antifouling yacht coatings market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global antifouling yacht coatings market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The antifouling yacht coatings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the antifouling yacht coatings market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the antifouling yacht coatings market in these regions.

MARKET PLAYERS

The reports cover key developments in the antifouling yacht coatings market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from antifouling yacht coatings market are anticipated to lucrative growth opportunities in the future with the rising demand for antifouling yacht coatings in the global market. Below mentioned is the list of few companies engaged in the antifouling yacht coatings market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the antifouling yacht coatings market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Akzo Nobel N.V.
  
•   PPG Industries
  
•   The Sherwin Williams Company
  
•   BASF SE
  
•   Nippon Paint Marine Coatings
  
•   Altex Coatings Ltd.
  
•   DuPont de Nemours Inc
  
•   Hempel AS
  
•   Jotun AS
  
•   Kansai Paint Co. Ltd.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Antifouling Yacht Coatings Report Scope