Market Size of Marine Anti-fouling Coatings Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Marine Anti-fouling Coatings Market Analysis
During the time frame of the forecast, the marine anti-fouling coatings market is expected to register a CAGR of more than 3%.
The COVID-19 outbreak caused a global lockdown, a break in supply chains and manufacturing, and a stop in production, all of which hurt the market in 2020. However, things started to get better in 2021, which allowed the market to resume its upward trend for the remainder of the projected period.
- The market that was looked at is growing because more leisure boats and cruise ships are being made, there are more ship repairs and maintenance jobs, and the oil and gas industry is buying more.
- On the other hand, the growth of the market studied is being slowed down by strict government rules and more people buying high-quality, long-lasting products.
- Still, people are spending more money on luxury goods, and new coatings and application technology are likely to open up opportunities for the market studied during the period of the forecast.
- Due to rising demand from the shipbuilding industry, the Asia-Pacific region ruled the world market.
