According to a new report from MarketsandMarkets, the global anti-fouling coatings market is projected to reach US$9.22-billion by 2021.This means it should grow at a compound annual growth rate (CAGR) of 8.6 percent from 2016 to 2021. High demand for anti-fouling coatings from the shipping industry is expected to drive the market in the near future. Shipping vessels accounted for the fastest-growing application segment. The growth can be mainly attributed to the coatings providing smoothness and superior polishing effect to hulls and underwater surfaces of shipping vessels. Based on type, the anti-fouling coatings market has been segmented into copper-based, self-polishing copolymer, hybrid and others. Copper-based was the largest segment of the market in 2015. According to the report, copper-based anti-fouling coatings are environment friendly, as they ensure foul-free surfaces. They also help save fuel, thereby reducing emission of greenhouse gases. Asia-Pacific was the largest market for anti-fouling coatings in 2015, owing to the rise in demand for the coatings in this region. This increase can be attributed to the growing number of shipbuilding activities in the region. China, Korea and Japan are the leading countries in the shipbuilding industry in Asia-Pacific. The low cost of raw materials and labor, as well as the introduction of advanced products, is expected to drive the growth of the anti-fouling coatings market in these countries. www.marketsandmarkets.com