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Silyl Acrylate Polymer Market is driven by its application in marine vessels which helps to increase their speed and reduce noise during voyage

Author : Ronak Bora | Published Date : 2019-03-19 

Global Market Insights, Inc. adds new Silyl Acrylate Polymer Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Global Silyl Acrylate Polymer Market size is anticipated to witness moderate growth, registering a CAGR of close to 3.5% in the forecast period 2016-2024.

Silyl Acrylate Polymer (SAP) is an anti-fouling paint which is used for coating marine vessels for prevention of growth of marine organisms on the structure’s surface and ensure its long life. Marine vessels remain submerged in water for very long durations which leads to the growth of marine organisms like tubeworms, algae, mussels and other such organisms. There are two types of fouling, plant fouling and animal fouling, both of which have potential to damage the structures surface and degrade it. This growth of organisms on marine vessels like submarines, ships increases fuel consumption and friction and decreases speed by sticking to the structure’s surface and accelerating corrosion and biodegradation of surface. The application of anti-fouling paints like silyl acrylate polymer on marine vessels helps to increase their speed and reduce noise during voyage.

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The companies in silyl acrylate polymer market are implementing aggressive marketing strategies and mergers & acquisitions techniques to gain bigger silyl acrylate polymer market share. Mergers, acquisitions and joint ventures between big corporations will only have positive impact on the silyl acrylate polymer market. Nowadays the demand for cruise liners is also increasing because more and more people are opting it as a holiday destination, thus companies are focusing further on this commercial segment, which is also anticipated to show immense growth prospect in future, thereby accelerating the silyl acrylate polymer market growth.

The value of marine freight industry is expected to reach USD 210 billion by 2021, which will not only increase the ever degrading CAGR for this industry since 2015, but will also influence the anti-fouling paints market as more and more companies are investing heavily in increasing their capacities. Many companies are expanding their fleet size to survive and give tough competition to competitors in the market by covering as much geographical area as possible. These fleets mostly include freight carrying ships and tankers.

The silyl acrylate polymer market can be segmented based on its type into metal containing and metal free. The metal free silyl acrylate polymer is free from copper methacrylate and zinc. Properties like ecofriendly nature of silyl acrylate polymer can prove to be a market driver for the forecast period.

Based on the end-user industry, the silyl acrylate polymer market is segmented into oil & gas and marine vessels (ships). The marine vessels segmented is anticipated to lead the product market in the forecast period.

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Latin America and Asia-Pacific had dominant share in silyl acrylate polymer market in 2015. Many of the companies in this industry are shifting their production facilities to emerging economies in Latin America and Asia Pacific because of easy availability of cheap labor, land and favorable and flexible government policies and subsidies in these regions. Moreover, companies are concentrating on geographical expansion by exporting products in emerging economies of Africa and Middle East which is going to boost the silyl acrylate polymer market in the coming years.

The major players functioning in silyl acrylate polymer market are BASF, AkzoNoble, Kansai Paint Marine Company Ltd, HEMEPL, GeoChem solution Inc., Arkema, Yuki Gosei Kogyo Ltd and International Paints.

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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