Chemical industry reports Antifouling Agent Market Insights, 2016 to 2024 | Page 2

Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future enhance the strength and performance of vessels by controlling the growth of these subaquatic organisms. Antifouling agents are made of biocides, organotin compounds, and copper. These materials protect the vessel from external fouling, contaminations, and corrosion. Rapid growth in the oil & gas industry is set to bolster the growth prospects of the antifouling agent industry. Browse Details of Report @ https://www.hexaresearch.com/research-report/antifoulingagent-market Stringent environmental regulations by the Environmental Protection Agency (EPA) and the European Commission are nudging market players to adopt eco-friendly alternatives. Such a development could inhibit industrial growth. Moreover, the volatile prices of raw materials can negatively impact the global product price, thereby hampering industrial growth. The industry is segmented into applications, types, and regions. Applications comprise shipping vessels and drilling rigs & production platforms. Shipping vessels contributed to around 80% of the global volume in 2015. However, drilling rigs & production platforms will exhibit considerable growth owing to high investments by oil & gas industries. These investments are mainly directed towards the development of Floating Production Storage & Offloading (FPSO) vessels. Types encompass copper-based, hybrid, self-polishing, and other. Copper-based antifouling agents is expected to continue its dominance during the forecast period. Its demand can be attributed to its eco-friendly properties. Regions are divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Asia Pacific held a share of more than 80% in 2015. Growth of the shipbuilding industry in countries, such as Taiwan, China, South Korea, Philippines, and Japan, Contact: [phone] Email : [email protected] Website: http://www.hexaresearch.com/