According to the recent study the vinyl ester resin market is projected to reach an estimated $1.8 billion by 2028 from $1.4 billion in 2022, at a CAGR of 3.9% from 2022 to 2028. Growth in this market is primarily driven by increasing demand for corrosion resistance materials, growing infrastructural investments, and rehabilitation of old infrastructural projects.
Browse 139 figures / charts and 97 tables in this 171 -page report to understand trends, opportunities and forecast in vinyl ester resin market by end use (FRP, paint and coatings and others), chemistry (bisphenol-A vinyl ester, novolac vinyl ester, brominated vinyl ester, and other chemistry), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Fiber reinforced plastic (FRP) market is expected to remain the largest segment during the forecast period.”
Based on end use, the vinyl ester resin market is segmented into FRP, paint and coatings and others. Lucintel forecasts that the fiber reinforced plastic (FRP) market is expected to remain the largest segment due to wider use in pipe and tank manufacturing.
“Within the vinyl ester resin market, the bisphenol-A vinyl ester segment is expected to remain the largest chemistry type”
Based on chemistry type the bisphenol-A vinyl ester segment is expected to witness the highest growth over the forecast period due to its good mechanical and chemical resistance properties at a relatively lower cost.
“Asia pacific will dominate the vinyl ester resin market in near future”
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period because of the tremendous economic growth in China and India, and increasing demand for corrosion resistance pipe and tanks and growing investment in the building and construction and well as industrial sector.
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Major players of vinyl ester resin market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Polynt REICHHOLD Group, Ashland Inc., AOC Resins, Swancor Ind. Co., Ltd., Showa Denko K.K, Sino Polymer Co., Ltd, Scott Bader Co. Ltd, and Allnex are among the major vinyl ester resin providers.
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