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.

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Market Dynamics

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; and an expected recovery of oil & gas drilling activities in coming years are the major growth drivers contributing to a healthy demand for corrosion-resistant resins in the composites industry.

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Segment Analysis

By Resin Type

The corrosion-resistant resin market is segmented based on resin type 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 global 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 in the composites industry 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.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

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)

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Key Players

Some of the key players in the global market in the composites industry 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.

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.

Research Methodology

For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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.

We leverage the multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the corrosion-resistant resin market in the global composites industry over the period 2022 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.

What Deliverables Will You Get in this Report?

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.