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Vinyl Ester Resin Market Report
Vinyl Ester Resin Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026.
Vinyl ester resin has a polyester backbone molecule with an epoxy component. It is widely used in applications where better strength and chemical resistance are critically required. Vinyl ester resins were developed to combine the advantages of epoxy resin and polyester resin i.e., excellent resistance to water, organic solvents, alkalis, and faster cure time. Vinyl ester is flexible, making them suitable for applications that require withstand impact and repeated flexing without developing cracks. Its exceptional mechanical and chemical-resistant properties have led to its adoption in a wide array of industries including pipes and tanks, building and construction, marine, wind energy, etc.
In 2020, the rapid spread of COVID-19 has completely shaken the vinyl ester resin market in the wake of production halts, reduced demand, and massive disruption in the supply chain. As per Stratview Research estimates, the vinyl ester resin market witnessed a hefty decline of more than 10% to reach US$ 427.1 Million in 2020. The demand for vinyl ester resins is anticipated to recover from 2021, ultimately forming a healthy 7.2% CAGR over the next five years to reach US$ 674.4 million in 2026. An expected recovery in the major markets, such as pipes & tanks, marine, and building & construction, coupled with increasing acceptance of vinyl ester resin may act as the drivers for demand rejuvenation.
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Based on the application type, we have segmented the market as composites, paints & coatings, and others. The composites segment holds the largest share of the market and is expected to remain dominant over the forecast period as well. Vinyl ester resin is widely used in the fabrication of pipes & tanks, boat hulls, automotive components, etc. owing to its exceptional mechanical and chemical-resistant properties.
Based on the end-use industry type, Stratview research has segmented the market as pipes & tanks, building & construction, marine, wind energy, transportation, and aerospace & defense. Despite the current glum scenario, the pipes & tanks segment is expected to push through, maintaining its dominance in the market till 2026. Vinyl ester resin is the second-most preferred resin system in the FRP pipe & tank manufacturing after polyester and is preferably used where corrosion resistance along with good performance is required.
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In terms of region, Asia-Pacific holds the lion’s share in the vinyl ester resin market and is also expected to witness the highest growth during the forecast period. The dominance of the region in the building & construction and chemical industry, significant investment towards infrastructure development, rapid urbanization, growing investment towards renewable energy, and rapidly expanding sports & leisure industry are the major factors behind the dominance of Asia-Pacific in the global vinyl ester resin market. North America and Europe also generate a sizeable demand for vinyl ester resins, mainly propelled by the marine, pipe & tank, and wind energy industries.
The vinyl ester resin market is segmented into the following categories.
The supply chain of this market comprises raw material suppliers, vinyl ester resin manufacturers, distributors, and end-use industries.
The key vinyl ester composite resin manufacturers are-
The key players are shifting their focus towards rebuilding their short-term and long-term strategies in order to handle the current distressing time. However, the execution of mergers & acquisitions, capacity expansion, and development of new applications have been the key strategies adopted by the major players over the years to gain a competitive edge in the market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s vinyl ester resin market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term ramifications of the COVID-19 pandemic on the demand for vinyl ester resins in various industries at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenarios. The vital information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
The vinyl ester resin market size is expected to reach US$ 674.4 million in the foreseeable future.
The vinyl ester resin market is expected to witness an impressive growth of 7.2% CAGR in the coming years.
Ineos Composites, AOC Aliancys, Polynt-Reichhold Group, Swancor, Eternal Materials Co., Ltd., Interplastic Corporation, SIR Industriale S.p.A., Sino Polymers are among the key players in the vinyl ester resin market.
Asia-pacific is expected to witness highest growth in the vinyl ester resin market during the forecast period of 2021-26.
The pipe & tanks segment is expected to remain dominant end-use industry in the vinyl ester resin market in the coming years.
The composites segment is expected to remain dominant application in the vinyl ester resin market over the next five years.
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