USD 131 million
US Antifouling Yacht Coating Market Size, Share, Growth Analysis, By Type(Copper-based, Hybrid, Self-polishing Copolymer), By Application(Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht), By Region - Industry Forecast 2024-2031
Report ID:
SQMIC15E2519 |
Region:
Country |
Published Date: February, 2024
Pages:
230
|Tables:
66
|Figures:
75
US Antifouling Yacht Coating Market Insights
US Antifouling Yacht Coating Market size was valued at USD 131 million in 2019 and is poised to grow from USD 137.57 million in 2023 to USD 199.95 million by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).
Antifouling coatings prevent the surface from eroding from corrosion, which is required to protect outer hull surface. Copper-based antifouling yacht coatings are widely used. In yacht coating, copper is used to control hard fouling, such as mussels, barnacles, and tube worms in yacht coating. Antifouling coatings release biocides resulting from the reaction between the water and the paint, which prevents the growth of organisms on the hull surface. Hard antifouling coatings are primarily used in sport yachts and motor yachts, which are frequently used as these have long service life when silt and sand are present in the water.
Increase in the reduction in fuel consumption is the vital factor escalating the market growth, also rise in the popularity of condition-based monitoring over breakdown maintenance in the shipping sector. The market for antifouling coating is majorly driven by its widespread presence in the shipping industry, which uses the product extensively owing to the convenience it provides in the operation of the water vehicle.
US Antifouling Yacht Coating Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
self-polishing copolymer
Fastest Growth
self-polishing copolymer
Growth Rate
5.2% CAGR
US Antifouling Yacht Coating Market ($ Mn)
States Share for US Country (%)
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US Antifouling Yacht Coating Market Segmental Analysis
US antifouling yacht coating Market is segmented based on the Type and application. Based on the type, the US antifouling yacht coating Market is segmented into Copper based, Hybrid, Self-polishing Copolymer. Based on the application, the US Antifouling Yacht Coating Market has been segmented into Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht, Sailing Yacht, Motor Yacht.
US Antifouling Yacht Coating Market Analysis by Type
Based on Material type, the self-polishing copolymer has dominated the market for antifouling yacht market and is expected to be the leading segment during the forecast period. Copper based type is expected to be the fastest growing segment as these types are environment friendly and its use is on a rapid increase in hulls and underwater surfaces of shipping vessels.
US Antifouling Yacht Coating Market Analysis by Application
The super yacht application segment dominated the market and accounted for more than 31.50% share of the overall revenue in 2021. The U.S. has witnessed growth in the number of millionaires owing to the rise in the number of digital businesses and entrepreneurs. The demand for super yachts in the U.S. market is expected to increase growth in the forecast period. Super yachts need maintenance after every five years, and are projected to create significant demand for antifouling yacht coatings.
The long range yacht is Basically built for all weather conditions ranging from chilled waters to warm water. Long-range yachts are often associated with less fuel efficiency per nautical mile when compared with other yacht types and are commonly used for family trips. Motor yacht is built for sports and cruising at the same time. Motor yacht is used for living deep in the ocean and for diving. Those are some factors which creates the demand for antifouling yacht coatings in motor yachts over the forecast period.
US Antifouling Yacht Coating Market By Type
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US Antifouling Yacht Coating Market Regional Insights
Some of the famous yachts of the U.S. such as Endless Summer, Aspen Alternative, Wheels Impromptu, Silver Lining, Lady Sura, Helios3, Yanbu, and Haida, which are world famous. Many people preferred these yachts for their enjoyment of ocean lifestyle. And these yachts are continuous maintenance to protect the hull from corrosion and abrasion. The antifouling yacht coatings market due to rise in the popularity of condition based monitoring over breakdown maintenance in the shipping sector and increase in the demand of antifouling coatings from the shipping industry in this region.
US Antifouling Yacht Coating Market By Geography
- Largest
- Fastest
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US Antifouling Yacht Coating Market Dynamics
US Antifouling Yacht Coating Market Drivers
Luxury Vacations to Bolster Market Growth
- People in us have more personal income and they prefer luxury life and spend their weekends in a unique way. They are customised yachts as per their choice and repainting with antifouling yacht coatings, that will drive the Us antifouling yacht coating Market.
US Antifouling Yacht Coating Market Restraints
Expensive R&D to Hinder Market Growth
- Rise in the cost of research and development activities acts as the major factor among others acting as a restraint. People in US prefer innovative antifouling yacht but due to high cost many of them are not antifouling their yacht on time.
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US Antifouling Yacht Coating Market Competitive Landscape
US antifouling yacht coating Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
US Antifouling Yacht Coating Market Top Player's Company Profiles
- AkzoNobel N.V.
- BASF SE
- Boero Group
- Chugoku Marine Paints Ltd.
- Hempel A/S
- Jotun Group
- Kansai Paint Co. Ltd.
- Nippon Paint Marine Coatings Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- Sherwin-Williams Company
- Signal Paints Inc.
- TBT Coatings Inc.
- Ultrasonic Antifouling Ltd.
- Sea Hawk Paints
- Pettit Marine Paint
- Interlux Yacht Finishes
- International Yacht Paint
- West Marine
- Defender Industries Inc.
US Antifouling Yacht Coating Market Recent Developments
- In September 2022, Nippon Paint Marine’s NEOGAURD Reduces Routine Maintenance for Starnes Bulker.
- August 2022, Nippon Paint has launched a long-term R&D project aimed at developing a new antifouling paint that would eliminate the release of microplastics from ocean-going ships while increasing fuel efficiency by more than 8%.
US Antifouling Yacht Coating Key Market Trends
- The growing trend of consumer spending on luxury vacations, coupled with yacht reprinting the status symbol, is expected to propel the market growth over the forecast period. Customers who want unique colouring to their yacht are also developing new trends for the innovative antifouling yacht coating. Which will help to increase the market growth in the forecast period.
US Antifouling Yacht Coating Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, US Antifouling yacht coating Market is dominated by Self polishing in terms of type. That market is increased due to lower cost of self polishing. Also the market is dominated by superyachts by application. The major players are introducing new colours for antifouling yachts. This will help them to improve their selling products and also improve market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 131 million |
| Market size value in 2031 | USD 199.95 million |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on US Antifouling Yacht Coating Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on US Antifouling Yacht Coating Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the US Antifouling Yacht Coating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the US Antifouling Yacht Coating Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the US Antifouling Yacht Coating Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the US Antifouling Yacht Coating Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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