Marine Anti-Fouling Coatings Market - Forecasts from 2023 to 2028

The marine anti-fouling coatings market was valued at US$2.143 billion in 2021.

Marine anti-fouling coatings are specialized coatings applied to the underwater surface of ships, boats, and other marine structures to prevent the growth of unwanted organisms such as algae, barnacles, and other marine organisms. Fouling organisms can increase drag and reduce the speed and fuel efficiency of the vessel. Additionally, they can cause damage to the hull and other components and introduce invasive species into new environments. Anti-fouling coatings work by releasing biocides into the surrounding water to discourage the growth of marine organisms. These biocides are typically either copper-based or organotin compounds, although some newer coatings use alternative biocides that are less toxic to the environment. The coatings can be applied to various surfaces, including steel, aluminum, and fiberglass.

Market Drivers:

Increasing demand for recreational boats and yachts

The global recreational boating market is growing steadily, with increasing number of people taking up boating as a leisure activity. As a result, the demand for marine anti-fouling coatings to protect these vessels from fouling organisms is also growing. The National Marine Manufacturers Association (NMMA) reported that new powerboat sales were up by 12% in 2020, with an estimated 310,000 new boats sold.

Expansion of the shipping industry

The shipping industry is also a major driver of the marine anti-fouling coatings market. As global trade continues to grow, the demand for ships and other vessels to transport goods is also increasing. Marine anti-fouling coatings are critical to maintaining the efficiency and longevity of these vessels. The shipping industry is expected to grow steadily, driving demand for marine anti-fouling coatings.

The hybrid segment is expected to witness robust growth during the forecast period.

The hybrid marine anti-fouling coating technology is gaining popularity due to its ability to provide efficient fouling protection while being environmentally friendly. The hybrid anti-fouling coatings market is expected to grow significantly during the projected period, driven by the increasing demand for sustainable marine coatings. The rise in global trade activities and the growing size of the shipping industry are also contributing to the growth of this segment.

North America accounted for a significant share of the global marine anti-fouling coatings market in 2021.

Based on geography, the marine anti-fouling coatings market is segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America is one of the major markets for marine anti-fouling coatings, driven by the high demand from the shipping industry in the United States and Canada. The region has a significant presence of major coating manufacturers and increasing investments in research and development activities to produce advanced and eco-friendly marine coatings. The U.S. government's regulations on using biocides in antifouling coatings have also led to the development of new technologies that reduce the impact on the marine ecosystem.

Further, the growing concern about the environmental impact of marine coatings has led to the adoption of advanced coatings that offer better performance and are eco-friendly. In addition, increasing awareness about fuel efficiency and cost savings has resulted in the demand for advanced antifouling coatings that can reduce the drag on vessels and improve their performance. The demand for marine coatings is also driven by the increase in shipbuilding activities, with North America being home to several major shipyards.

Market Developments:

• In June 2021, I-Tech, a company specializing in bio-repellent active agents, and CMP, a marine coatings supplier, collaborated to produce a new antifouling paint for international trade ships. The SEAFLO NEO M1 PLUS uses Selektope, an active antifouling agent that repels barnacles and is a product with low VOC content designed to guard against hard and soft fouling. The coating helps to reduce fuel consumption and can be applied during the construction or maintenance of ships. The SEAFLO NEO M1 PLUS satisfies the growing demand for antifouling paints that cater to specific trading patterns and levels of activity while also providing effective fouling protection.
• In September 2022, Nippon Paint Marine created one of the world's first antifouling technologies using a biocide-free copolymer, low-friction, and self-polishing. The Aquaterras solution is a unique marine coating that does not contain any biocides or silicone. It is a self-polishing, long-lasting, and efficient antifouling paint that does not rely on biocides. The paint incorporates an advanced antifouling mechanism based on anti-thrombogenic polymers utilized in artificial hearts and blood vessels used in the medical field, which aims to prevent blood clots and biological substances or life from adhering to the surface.

Market Segmentation:

By Resin

• Epoxy
• Alkyd
• Polyurethane
• Others

By Product Type

• Self-polishing
• Copper-based
• Hybrid
• Others

By Application

• Tank Coatings
• Hull Coatings
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East And Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• India
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others