DALLAS, TX / ACCESSWIRE / January 14, 2021 / According to a new market report published by Lucintel, the future of the vinyl ester resin market looks attractive with opportunities in the pipe and tank, construction, transportation, and paint and coatings industries. The global vinyl ester resin market is declined in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $1.1 billion by 2026 with a CAGR of 3% to 5% from 2021 to 2026. The major growth drivers for this market are increasing demand for corrosion resistance materials, growing infrastructural investments, and rehabilitation of old infrastructural projects.
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Bisphenol-A vinyl ester, novolac vinyl ester, and brominated vinyl ester resin are the major resin chemistries used in this market. Lucintel forecasts that bisphenol-A vinyl ester resin is expected to remain the largest segment due to its good mechanical properties and chemical resistance properties at a relatively lower cost. Novolac vinyl ester resin is expected to witness the highest growth in the forecast period due to its growing use in applications which require excellent resistance to oxidizing acids, better heat resistance, and superior solvent resistance.
Within the vinyl ester resin market, fiber reinforced plastic (FRP) is expected to remain the largest end use industry. It is also expected to witness the highest growth during the forecast period, supported by the increasing demand for lightweight and corrosion resistance pipe and tank products in new as well as old infrastructural rehabilitation projects. Within the FRP, pipe and tank industry is expected to remain largest market for vinyl ester resin, while transportation is expected to witness highest growth in the forecast period.
Asia Pacific is expected to remain the largest market by value and volume over the forecast period because of increasing demand for corrosion resistance pipe and tanks and growing investment in the building and construction and well as industrial sector.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of styrene-free vinyl ester resin and emergence of bio-based vinyl ester resin. Polynt, Ashland Inc ( INEOS ), AOC, Swancor , Showa Denko, Allnes, and Scott Bader are among the major suppliers of the global vinyl ester resin market.
The study includes a forecast for the global vinyl ester resin market by chemistry, end use industry, and region as follows:
By Chemistry [Volume (M lbs) and $M Shipment Analysis for 2015 - 2026]:
- Bisphenol-A vinyl ester resin
- Novolac vinyl ester resin
- Brominated vinyl ester resin
- Other chemistry
By End Use Industry [Volume (M lbs) and $M Shipment Analysis for 2015 - 2026]:
- Fiber Reinforced Plastic (FRP)
- Pipe and tank
- Other fiber reinforced plastic (FRP)
- Paint and Coatings
- Other Industry
By Region [Volume (M lbs) and $M Shipment Analysis for 2015 - 2026]:
- North America
- The US
- United Kingdom
- Asia Pacific
- Rest of the World
This 196-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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