- The key vendors in the Global Antifouling Coatings Market 2015-2019 are AkzoNobel N.V, Hempel A/S, Jotun Group, PPG Industries Inc. and Sherwin-Williams Co.
London, 31 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Antifouling Coatings Market 2015-2019. Rapid advances in technology worldwide are one of the trends expected to contribute to the growth of the Global Antifouling Coatings market. Companies invest heavily in R&D to further enhance the efficiency of antifouling coatings, which is expected to increase their demand from end-users. The overall market is expected to grow at a CAGR of 12.23 percent during the forecast period of 2014-2019.
Antifouling coatings are widely used for the protection and maintenance of machinery and structural infrastructure in rigs. The application of such coatings improves durability and performance of the vessel. In addition, antifouling coatings are used in fixed and floating offshore oil rigs.
“Antifouling coatings are used in rigs to increase the latter’s performance and durability,” says Faisal Ghaus, Vice President of TechNavio Research.
“Expansion of the Oil and Gas industry because of increased exploration of oil and gas is expected to increase the demand for rigs, thereby opening up huge opportunities in themarket.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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