Corrosion-Resistant Resin Market Growth Analysis | 2022-2028

Market Insights

The corrosion-resistant resin market was estimated at USD 9.21 billion in 2021 and is likely to grow at a CAGR of 5.74% during 2022-2028 to reach USD 13.64 billion in 2028.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

Corrosion-resistant resin is a specialized material designed to withstand chemical, environmental, and mechanical degradation caused by exposure to corrosive substances like acids, alkalis, salts, and solvents. These resins are widely used in protective coatings, linings, and composites for industries such as marine, chemical processing, and construction. Common types include epoxy, vinyl ester, and polyester resins, which provide high durability, chemical resistance, and mechanical strength. Their application helps extend the lifespan of structures, equipment, and surfaces in harsh environments, minimizing maintenance costs and preventing failures. Corrosion-resistant resins are crucial for ensuring long-term performance in demanding industrial and environmental conditions.

Market Drivers

The major factors driving the growth of the corrosion-resistant resin market are:

• Increasing penetration of composites in corrosion-resistant applications, such as sewage, irrigation, chemical, and oil & gas; development of new composites applications in different industries.
• Increasing infrastructure expenditures in the developing economies.
• An expected recovery of oil & gas drilling activities in the coming years.

Want to have a closer look at this market report? Click Here

Key Players

Some of the key players in the market are:

• Aditya Birla Chemicals
• Ashland Inc.
• BASF SE
• Hexion Inc.
• Huntsman Corporation
• Olin Corporation
• Polynt SpA
• Reichhold Inc.
• Scott Bader Co. Ltd.
• Sino Polymer Co. Ltd.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

New product development, wide geographical reach, and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge over others.

Segment Analysis

By Resin Type

The corrosion-resistant resin market is segmented based on resin type, such as polyester resin, epoxy resin, vinyl ester resin, and other resins. Polyester resin dominates the market because of its lower cost and good properties and is projected to remain the most dominant resin type during the forecast period as well. Epoxy resin is estimated to experience the highest growth in the corrosion-resistant resin market in the composites industry. This resin type is gaining traction because of its excellent properties, such as strength, adhesiveness, versatility, moisture absorption, and less volumetric shrinkage.

By End-Use Industry Type

The market is segmented based on end-use industries such as aerospace & defense, transportation, building & construction, pipe & tank, marine, and others. Pipe & tank is projected to remain the largest segment in the market during the forecast period, driven by sewage and chemical applications. Transportation is expected to witness the highest growth in the market, driven by increasing penetration of composites in the automotive industry to address stringent government regulations, such as CAFÉ standards.

Regional Insights

Asia-Pacific is expected to witness the highest growth in the global market over the next five years. Increasing infrastructure activities in major Asian countries, such as China and India, increasing boat production, and ongoing & future oil & gas activities are some of the major growth drivers of the region.

Know the high-growth countries in this report. Register Here

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects corrosion-resistant resin market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 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 in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The corrosion-resistant resin market is segmented in the following ways:

By Resin Type

• Polyester Resin
• Epoxy Resin
• Vinyl Ester Resin
• Other Resins

By End-Use Industry Type

• Aerospace & Defense
• Transportation
• Building & Construction
• Pipe & Tank
• Marine
• Others

By Region

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

Click Here, to learn the market segmentation details.

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 3)
• SWOT analysis of key players (up to 3)

Market Segmentation

• Current market segmentation of any one of the end-use industry types by resin type.

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 sales@stratviewresearch.com.