According to the recent study titled ‘Silyl Acrylate Polymer (SAP) Market Size By Type, By Sector, By Application, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report, global silyl acrylate polymer (SAP) market is projected to display modest growth over 2019-2026.
 

Proliferating ship building activities, escalating ship repairing and overhaul demand, shifting focus towards low emission coatings, and increasing need of lower fuel consumption are driving the growth of global silyl acrylate polymer (SAP) market, cites the study.
 

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For the uninitiated, silyl acrylate polymer is widely used in self-polishing tin free paint. These polymers have stable hydrolysis rates and self-smoothing properties that contribute to the hydrodynamics of the ship’s hull by lowering the frictional drag, consequently reducing fuel consumption. They also serve as an exceptional anti-fouling agent and ensure long-term hull performance up to 90 months.
 

Benefits such as faster application, decreased solvent emission, reduced pail consumption, and lower wastage over other antifouling agents like zinc acrylate and copper acrylate are encouraging the deployment of this compund.
 

On the contrary, fluctuating prices of crude oil across the globe, coupled with growing popularity of cost-effective alternatives may obstruct the growth of global silyl acrylate polymer market over the analysis timeline.
 

Elaborating on type, global silyl acrylate market is split into metal free and metal containing, wherein the latter segment accounted for 20% market share in 2018 and is estimated to register 5.5% CAGR through 2026.
 

Based on the sector, global silyl acrylate market is bifurcated into new shipbuilding, and repair & maintenance. Among these, the repair & maintenance segment accounted for 45% market share in 2018 and is projected to showcase a healthy growth rate over the assessment period owing to periodic maintenance schedules for maintaining the ship’s operational efficiency.
 

In terms of application, global silyl acrylate market is fragmented into coastal, deep sea, leisure boats, offshore vessels, containers, and others. As per the projections, containers segment will register a CAGR of 9% over the forecast duration.
 

Geographically, Latin America silyl acrylate polymer market is set to grow with a y-o-y growth rate of 7.5% in the forthcoming years, attributable to rise in trade activities with the far East.
 

Key players operating in global silyl acrylate polymer market are AkzoNovel N.V., Hempel A/S, Chugoku Marine Paints, Ltd., Jotun A/S, Nippon Paint Holdings Co., Ltd, PPG Industries Inc., KCC Corp., Nippon Paint Holdings Co., Ltd., Geochem Solutions, Inc., Yuki Gosei Kogyo Co., Ltd., Kansai Paint Marine Co. Ltd., BASF SE, and Arkema SA.