Rapid Growth of Ship-building Industry in Asia Pacific to Drive the Copper Pyrithione Market
Added: (Mon Jan 14 2019)
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Transparency Market Research (TMR) provides key insights on the copper pyrithione market in its latest report titled “Copper Pyrithione Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid growth of the ship-building industry in Asia Pacific is predicted to drive the copper pyrithione market during the forecast period. China, South Korea, and countries in Southeast Asia have witnessed high demand for marine coatings and thereby driving copper pyrithione market in Asia Pacific and the same trend is expected to follow during the forecast period.
The copper pyrithione market, according to the report, is classified into powder and liquid/solution. Both powder and liquid forms are used in paints and coatings, especially anti-fouling coating systems. In terms of application, the market is segmented into marine paints, cosmetics, pharmaceutical, industrial, and others. Copper pyrithione is significantly applied in marine paints and coating systems as a biocide.
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In terms of regional perspective, the global copper pyrithione market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is a major region for copper pyrithione market, followed by North America. Furthermore, Europe is a rapidly expanding market for copper pyrithione, as it is one of the major manufacturers of marine coating systems. However, regulations imposed on use of toxic chemicals such as copper pyrithione in Europe are projected to restrain the copper pyrithione market in the region during the forecast period. The U.S. accounts for a key share of the copper pyrithione market in North America. China, South Korea, ASEAN, and Japan are among the leading contributors to the copper pyrithione market in Asia Pacific.
Prominent players operating in the global copper pyrithione market are included in this report to give a better competitive landscape and these are Wuxi Zhufeng Fine Chemical Co.Ltd., Kumar Organics Limited, etc.
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