A notable increase in drydocking activities, primarily in the APAC region, has emerged as one of the primary reasons supporting developments in the global silyl acrylate polymer market. Another major factor driving growth is the surging demand for environmentally friendly products that help control the carbon emission levels.

Reports estimate that shipping consumes over 350 million tons of fuel costing USD 90 billion in total costs and emits nearly 1 million tons of carbon dioxide per year. Marine ships are regarded with biofouling, which considerably lowers the speed of the vessel by 40%. There is a clear need for fuel-saving coatings like silyl acrylate polymer since they help in effectively reducing the cost of fuel by preventing the building up of invasive aquatic species.

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Such antifoulants play a crucial role in controlling the total operational cost of the ships. As per reports, silyl acrylate polymer market size is likely to cross USD 5.4 billion in total valuation worldwide by 2026. Mentioned below are some of the factors expected to impact the industry size in the coming years.

Metal-free silyl acrylate polymer

Usually, ships that aren’t coated with antifoulants have showcased an increase in 40% fuel consumption and higher carbon emissions. Concerning the type, metal-free silyl acrylate polymer has gained considerable recognition over the years due to the release of comparatively fewer toxic biocides and considerable antifouling performance.

The product showcases enhanced self-polishing features when compared to metal-containing silyl acrylate polymer and is also sustainable. Metal-free silyl acrylate polymers also carry higher speed tolerance.  

Silyl acrylate polymer market | Robust deep-sea applications

Silyl acrylate polymer carries the ability to showcase superior antifouling performance by forming a smooth layer on the surface of the hulls and effectively increasing the efficiency of the fuels. In terms of the application spectrum, the use of the product for deep-sea vessels has witnessed enormous growth with the growing demand for chemical tankers and bulk carriers.

These ships are highly vulnerable to biofouling since they spend most of the time in seawater which has intensified the need for effective coatings and will continue to do so in the near future.

Silyl acrylate polymer market | Increased production of new ships

Shipping as a mode of transport especially for moving bulk goods across borders has magnified the market prospects over the years. There is a high demand for ships in both developed as well as developing countries and the need for sustainable transportations solutions to comply with international regulations. This has complemented the production of silyl acrylate polymer over time.

In the year 2018, the new shipbuilding segment accounted for the largest market share due to the newbuilding activities in emerging economies such as India. China is regarded as the leader in newbuilding and accounts for over 40% of the entire shipbuilding sector.

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Measures to expand portfolio

Silyl acrylate polymer producers are working towards business expansion, mergers, and acquisitions to achieve a competitive edge as well as to expand its customer base. For instance, in August 2020, Japanese company Nippon Paints signed a USD 12.2 billion worth deal with Singapore based firm- Wuthelam Holdings Pte with an aim to create a dominant paints and coatings presence across Asia.

Somne of the leading companies operating in the silyl acrylate polymer market globally include Hempel, CMP, Jotun, and PPG Industries, among various others.

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