May 15, 2020
As per the report titled ‘Silyl Acrylate Polymer (SAP) Market Size By Type By Application, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, global silyl acrylate polymer (SAP) market is anticipated to witness prominent gains during 2019-2026.
Surging demand for fuel saving coatings and increasing shipbuilding activities across the globe are driving the growth of global silyl acrylate polymer market. Silyl acrylate polymer is an innovative resin which is used in self-polishing tin free paint and in anti-fouling marine paints as well.
Silyl acrylate polymers have stable hydrolysis rates and self-smoothing properties, which aid the hydrodynamics of the ship’s hull by lowering the frictional drag, thereby reducing the total amount of fuel consumed. They also provide excellent fouling protection and ensure long-term hull performance lasting up to 90 months. Benefits such as faster application, lower solvent emissions to the atmosphere, and reduced wastage and pail consumption are encouraging the product use in shipyards.
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Based on type, the market is bifurcated into metal containing and metal free. Among these, metal containing segment held a market share of around 20% in 2018 and is projected to grow with a CAGR of over 5.5% throughout the assessment period.
Elaborating on the sector, the industry is bifurcated into new shipbuilding and repair & maintenance. The latter segment held 45% market share in 2018 and is expected to gain decent traction during the forecast period. Growing requirement of routine maintenance for optimum performance of ships along with increase in number of ships is driving the segment growth. Various characteristics of silyl acrylate polymer including high surface tolerance and service periods lasting up to 60 months with potential fuel savings are encouraging the product use for repair and maintenance purposes.
Speaking of the application spectrum, silyl acrylate polymer industry is split into deep sea, coastal, leisure boats, containers, offshore vessels, and others. Containers segment is expected to register a healthy CAGR of 9% during the projection period. Increase in cross border trade activities resulting is in an accelerated demand for containers.
As per the regional analysis, Latin America silyl acrylate polymer market is projected to grow with a CAGR of 7.5% throughout the forecast duration. Soaring trade activities between Latin America and the far East is supporting the regional market growth.
Major players operating in global silyl acrylate polymer market are Chugoku Marine Paints, Ltd., AkzoNobel N.V., Hempel A/S, PPG Industries Inc., Jotun A/S, Nippon Paint Holdings Co., Ltd., Geochem Solutions, Inc., KCC Corp., Yuki Gosei Kogyo Co., Ltd., Kansai Paint Marine Co. Ltd. (Kansai Paint), BASF SE, and Arkema SA.