Market Size of Marine Anti-fouling Coatings Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.97 Billion |
| Market Size (2029) | USD 2.46 Billion |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Marine Anti-fouling Coatings Market Analysis
The Marine Anti-fouling Coatings Market size is estimated at USD 1.97 billion in 2024, and is expected to reach USD 2.46 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 outbreak in 2020 caused a global lockdown, a break in supply chains and manufacturing, and a stop in production, all of which negatively impacted the market. However, things started to get better in mid-2021, which allowed the market to resume its upward trend for the remainder of the projected period.
- The market 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.
- However, 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 forecast period.
- Due to the rising demand from the shipbuilding industry, Asia-Pacific dominated the market.
