Silyl Acrylate Polymer (SAP) Market Analysis

Silyl Acrylate Polymer Market Analysis

In 2018, the metal free segment witnessed the largest share in the silyl acrylate polymer market and is projected to register the highest CAGR of over 9% during the assessment period. The metal free segment is free from elemental metal but contains metal in the form of biocides. It possesses excellent self-polishing features coupled with controlled release of metal biocides.
 

The new shipbuilding sector accounted for the largest share in 2018 due to growing shipbuilding activities in Asia Pacific. Silyl acrylate polymer is used as an antifoulant as it is eco-friendly and offers controlled release of biocides, making it a preferable antifouling coating. Also, growing trend of containerization of marine vessels and rising production of bulk carriers further drive the silyl acrylate polymer market.
 

Coastal application garnered the largest market share of almost 30% in 2018 and is likely to grow at a healthy CAGR in the following years. Coastal ships mainly consist of cargo vessels and trading ships and experience severe delays in warm water ports, which results in rapid accumulation of unwanted biological hull fouling. Thus, silyl acrylate polymer substantially reduces fuel consumption with less speed loss.
 

Asia Pacific dominated the global market in 2018 and is likely to be the fastest-growing region during the forecast timeline. This is mainly attributed to the robust shipbuilding and drydocking activities in China, South Korea, Japan, and Philippines. Moreover, low-labor cost, favorable government investments, and growing marine trade activities propel the silyl acrylate polymer market in the region.