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    Vinyl Ester Resin Market In Composites Industry Report

    Vinyl Ester Resin Market In Composites Industry Report
    Report code - SRAM604 Published On : Apr,2021 No. of Pages: 230
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    Vinyl Ester Resin Market in the Composites Industry: Market Size, Share, Trend, Forec See more...

    Impact of COVID-19 on Vinyl Ester Resin Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Vinyl Ester Resin Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Vinyl ester resin is widely used in the fabrication of composite parts for a wide array of industries such as transportation, marine, buildings & construction, pipe & tanks, wind energy, and aerospace & defense. The chemical-resistant property of vinyl ester resins in corrosive aqueous areas is superior to that of other thermosets; hence, preferably used in the fabrication of pipes, tanks, structural boat parts, wind turbine spar caps, etc. Higher-strength and durability of vinyl ester composites in comparison to polyester composites further give an impetus to their growing acceptance in the transportation, building & construction, wind energy, and aerospace & defense industries.

    In 2020, the rapid spread of COVID-19 has completely shaken the global economy, causing supply chain disruption, production halts, reduced demand, and employee layoffs. The vinyl ester resin market in the composites industry was no exception and suffered a huge decline of over 10% in 2020. The market started showing signs of recovery from the 3rd quarter of 2020 with ease in lockdown in different parts of the world. Also, the long-term outlook seems positive with a gradual rebound in demand for vinyl ester resins from the major composite markets such as pipes and tanks, marines, building & construction, and transportation, ultimately rebounding the demand at a CAGR of 7.5% during 2021-2026 to reach a value of US$ 537 million in 2026.

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    Segments' Analysis

    Vinyl Ester Resin Market in the Composites Industry: By Type

    Based on type, we have classified the market as Bisphenol A-based and Novolac-based vinyl ester resin. Bisphenol-A-based vinyl ester resin is likely to hold the throne in the market till 2026, whereas Novolac-based is expected to heal at a faster rate during the forecast period. Better mechanical and chemical-resistant properties of bisphenol-A-based vinyl ester resin are the major reasons behind its dominance in the market.

    Vinyl Ester Resin Market in the Composites Industry: By End-Use Industry

    Based on the end-use industry type, Stratview research has segmented the market as pipes & tanks, building & construction, marine, wind energy, transportation, and others. Despite the current glum scenario, the pipes & tanks application is expected to maintain its dominance in the market by 2026. Increasing acceptance of FRP pipes & tanks in wastewater/water, chemical, oil & gas, and industrial applications with vinyl ester as the preferred choice for resin will keep driving the demand for vinyl esters in the pipe & tanks segment.

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    Regional Analysis

    All regions are expected to suffer from an enormous decline in 2020. In spite of the grave downturn, Asia-Pacific is projected to remain the largest market for vinyl ester resins during the forecast period. The region’s dominance is attributed to several factors including the growing disposable income of consumers, growing infrastructure projects, rapid urbanization, and increasing investment towards renewable energy. North America and Europe are also expected to offer substantial growth opportunities with significant demand for vinyl ester resins, especially from the marine and pipe & tank industries.

     

    Market Segmentation

    The vinyl ester resin market in the composites industry is segmented into the following categories. 

    Vinyl Ester Resin Market in the Composites Industry, by Type

    • Bisphenol A (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Novolac (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Vinyl Ester Resin Market in the Composites Industry, by End-Use Industry Type

    • Pipes & Tanks
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Application Analysis: Chemical Storage, Oil & Gas, Water & Waste Water, Pulp & Paper, and Others
    • Building & Construction
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Application Analysis: CIPP, Swimming pool, Bars & Beams, and Others
    • Marine
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Application Analysis: Structural and Non-Structural
    • Wind Energy
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Application Analysis: Spar Caps and others
    • Transportation
      •  Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Application Analysis: Under the hood applications and others
    • Others
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW

    Vinyl Ester Resin Market in the Composites Industry, by Process Type

    • Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Open Mold (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pultrusion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Resin Infusion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Vinyl Ester Resin Market in the Composites Industry, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, The UAE, and Others)

    Key Players

    The supply chain of this market comprises raw material suppliers, vinyl ester resin manufacturers, distributors, composite part fabricators, OEMs, and MRO companies. The key vinyl ester resin manufacturers are-

    • Ineos Composites
    • AOC Aliancys
    • Polynt-Reichhold Group
    • Swancor
    • Eternal Materials Co., Ltd.
    • Interplastic Corporation
    • SIR Industriale S.p.A.
    • Sino Polymers. 

    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 and the development of new applications have been the key strategies adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s vinyl ester resin market realities and future market possibilities in the composites industry 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 composite markets 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 data and 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.

    Report Features

    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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    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 [email protected]

    Frequently Asked Questions (FAQs)

    The vinyl ester resin market in the composites industry is expected to reach an estimated value of US$ 537 million in the foreseeable future.

    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 in the composites industry.

    The vinyl ester resin market in the composites industry is expected to grow at an impressive CAGR of 7.5% in the coming years.

    Asia-Pacific is expected to remain the largest vinyl ester resin market in the composites industry during the forecast period of 2021-26.

    Growing disposable income of consumers, growing infrastructure projects, rapid urbanization, and increasing investment towards renewable energy are the factors driving the growth of vinyl ester resin market in the composites industry.

    Pipes & tanks is expected to remain dominant end-use industry in the vinyl ester resin market in the composites industry in the coming years.

    Bisphenol-A-based vinyl ester resin is expected to remain dominant in the vinyl ester resin market in the composites industry over the next five years.

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