The latest report by IMARC Group, titled “Vinyl Ester Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global vinyl ester market reached US$ 1.1 Billion in 2022. Vinyl ester is a resin-based coating system used to protect concrete and metal structures, which are continuously or occasionally exposed to heavy-duty chemical, thermal or mechanical attacks. It is also utilized as an alternative to acid bricks and linings for secondary containment areas that hold very hot and corrosive acids. As it is multi-layered and highly durable, vinyl ester finds extensive applications in pipe and tank, construction, pulp and paper, transportation, and paint and coatings industries worldwide.
Global Vinyl Ester Market Trends:
Due to the growing environmental concerns and stringent laws on hazardous emissions, there is a rise in the demand for flue gas desulfurization (FGD) installations across the globe. This, along with the escalating demand for corrosion-resistant materials, represents one of the key factors driving the market. Moreover, the increasing demand for vinyl ester in chemical, water, and wastewater treatment is positively influencing the market. In addition, there is a rise in the number of wind turbine installations around the world. This, coupled with the rising application of vinyl ester in mass transit buses and railways to provide durability, strength, and chemical resistance, is propelling the growth of the market. Besides this, due to its high resistance to salty ocean water, vinyl ester is used as a coating material in hulls, decks, and marine vessels. In line with this, the expanding marine industry is offering lucrative growth opportunities to industry investors. Apart from this, the rising usage of vinyl ester in pipes and tanks to provide resistance against corrosion is bolstering the growth of the market. Looking forward, IMARC Group expects the market to reach US$ 1.3 Billion by 2028, exhibiting a CAGR of 3.2% during the forecast period (2023-2028).
- Based on the type, the market has been classified into Bisphenol A Diglycidyl Ether (DGEBA), Epoxy Phenol Novolac (EPN), Brominated Fire Retardant, and others. At present, DGBA holds the largest market share.
- On the basis of the distribution channel, the market has been bifurcated into offline and online segments.
- Based on the application, the market has been segmented into pipes and tanks, paints and coatings, transportation, pulp and paper, and others. Presently, pipes and tanks account for the largest market share.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report, with some of the key players being Akzo Nobel N.V., Ashland Global Holdings Inc., INEOS Limited, Interplastic Corporation, Nivitex Fibreglass and Resins, Poliya Composite Resins and Polymers Inc., Polynt spa, Scott Bader Company Ltd., Showa Denko K. K., Sino Polymer Co. Ltd., and Swancor Holding Co Ltd.
|Base Year of the Analysis
||Type, Distribution Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Akzo Nobel N.V., Ashland Global Holdings Inc., INEOS Limited, Interplastic Corporation, Nivitex Fibreglass and Resins, Poliya Composite Resins and Polymers Inc., Polynt spa, Scott Bader Company Ltd., Showa Denko K. K., Sino Polymer Co. Ltd. and Swancor Holding Co Ltd.
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