Global Vinyl Ester Market Segmentation, By Product (Bisphenol A, Novolac, Brominated Fire Retardant, Elastomer Modified, and Others), Application (Pipes and Tanks, Marine, Wind Energy, FGD and Precipitators, and Pulp and Paper) - Industry Trends and Forecast to 2031.
Vinyl Ester Market Analysis
The market is witnessing growth driven by advancements in resin modification techniques, enhancing durability and resistance to chemicals. The adoption of vinyl ester composites in corrosion-resistant applications, such as marine and chemical processing, is expanding. 3D printing technologies are also integrating vinyl esters, promoting custom applications and further market expansion, particularly in industrial and infrastructure sectors.
Vinyl Ester Market Size
The global vinyl ester market size was valued at USD 1.22 billion in 2023 and is projected to reach USD 2.04 billion by 2031, with a CAGR of 6.65% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Vinyl Ester Market Trends
“Increasing Demand for Corrosion-Resistant Materials”
One specific trend driving the growth of the vinyl ester market is the increasing demand for corrosion-resistant materials in industries such as chemical processing, water treatment, and marine applications. Vinyl ester resins offer superior resistance to corrosive environments compared to other materials, making them ideal for use in storage tanks, pipelines, and other infrastructure exposed to harsh chemicals. For instance, the growing need for durable coatings and linings in wastewater treatment plants to prevent corrosion and extend service life has significantly boosted the adoption of vinyl ester resins, contributing to market growth.
Report Scope and Vinyl Ester Market Segmentation
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Attributes
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Vinyl Ester Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Ashland (U.S.), Swancor Holding Co. (Taiwan), Aliancys (Switzerland), Reichhold LLC (U.S.), Hexion (U.S.), DIC CORPORATION (Japan), Interplastic Corporation (U.S.), Akzo Nobel N.V. (Netherlands), Nivitex Fibreglass and Resins (India), Sir Industriale (Italy), and Scott Bader Company Ltd (U.K.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Vinyl Ester Market Definition
Vinyl ester is a resin formed by esterifying an epoxy resin with unsaturated monocarboxylic acids. It is used in corrosion-resistant coatings, adhesives, and laminates due to its excellent chemical resistance and mechanical properties. Commonly applied in the marine, automotive, and construction industries, vinyl ester offers enhanced durability and resistance to heat and chemicals compared to other resins.
Vinyl Ester Market Dynamics
Drivers
- Growing Infrastructure Projects
Growing infrastructure projects, particularly in emerging economies, are driving the demand for vinyl esters. These materials are favoured in construction for their high strength and resilience, making them ideal for applications in pipes, tanks, and reinforcement systems. For instance, in India, the government's focus on smart cities and industrial corridors has led to increased use of vinyl esters in critical infrastructure, significantly boosting the market.
- Growing Lightweight Material Demand
The demand for lightweight materials in the automotive and aerospace industries is driving the vinyl ester market. Vinyl esters, known for their high strength-to-weight ratio, are increasingly used to enhance fuel efficiency and performance. For instance, in automotive manufacturing, vinyl ester composites are being adopted for parts such as body panels and structural components, reducing vehicle weight and improving overall efficiency, thus propelling vinyl esters market growth.
Opportunities
- Rising Advanced Composites Usage
The growing use of advanced composites in sectors such as wind energy, sports equipment, and defense creates significant opportunities for the vinyl ester market. For instance, in wind energy, vinyl esters are favored for turbine blades due to their superior mechanical properties, such as high strength and fatigue resistance. This trend is such asly to boost market growth as industries continue to prioritize durable and high-performance materials.
- Expansion of Renewable Energy
The expansion of renewable energy, especially wind power, presents significant opportunities in the vinyl ester market. Vinyl esters are increasingly used in wind turbine blades due to their durability and fatigue resistance, essential for long-term performance. For instance, with countries such as the U.S. and China aggressively expanding their wind energy capacity, the demand for vinyl esters in turbine manufacturing is expected to rise, creating substantial vinyl esters market growth opportunities.
Restraints/Challenges
- High Production Costs
High production costs are a significant restraint for the vinyl ester market. The need for costly raw materials and intricate manufacturing processes results in elevated overall expenses. These high costs can deter adoption, particularly in industries where cost sensitivity is critical. Consequently, this financial burden may limit market expansion and restrict the use of vinyl ester resins compared to more economical alternatives.
- Availability of Substitutes
The vinyl ester market faces significant competition from alternative materials such as epoxy resins, which offer comparable performance but with fewer environmental and cost-related concerns. This competition hinders market expansion as manufacturers and consumers may prefer the more environmentally friendly and cost-effective options provided by these substitutes.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Vinyl Ester Market Scope
The market is segmented on the basis of product and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Bisphenol A
- Novolac
- Brominated Fire Retardant
- Elastomer Modified
- Others
Application
- Pipes and Tanks
- Marine
- Wind Energy
- FGD and Precipitators
- Pulp and Paper
Vinyl Ester Market Regional Analysis
The market is analysed and market size insights and trends are provided by product and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the vinyl ester market due to the burgeoning U.S. marine industry and increased installation of wind turbines. The region's strong industrial infrastructure and rising demand for durable, corrosion-resistant materials for marine and wind energy applications drive this growth, solidifying its leading market position.
Asia-Pacific is expected to show significant growth in the vinyl ester market, driven by the extensive use of vinyl ester resins in pipes and tanks. The region's expanding infrastructure projects and industrial applications contribute to this growth, reflecting an increasing demand for durable, corrosion-resistant materials in construction and manufacturing sectors.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Vinyl Ester Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Vinyl Ester Market Leaders Operating in the Market Are:
- Ashland (U.S.)
- Swancor Holding Co. (Taiwan)
- Aliancys (Switzerland)
- Reichhold LLC (U.S.)
- Hexion (U.S.)
- DIC CORPORATION (Japan)
- Interplastic Corporation (U.S.)
- Akzo Nobel N.V. (Netherlands)
- Nivitex Fibreglass and Resins (India)
- Sir Industriale (Italy)
- Scott Bader Company Ltd (U.K.)
Latest Developments in Vinyl Ester Market
- In October 2021, Lone Star acquired AOC from CVC Capital Partners. AOC, a major producer of unsaturated polyester resins, vinyl ester resins, and various materials for adhesives, composite resins, colorants, and coatings, was purchased by Lone Star, marking a significant shift in ownership and strategic direction
- In July 2021, Black Diamond Capital Management, L.L.C. announced that Speciality Chemicals International Limited, part of the Polynt-Reichhold group, would repurchase shares from Invest Industrial. Following this transaction, Black Diamond will become the controlling shareholder of the company, gaining significant influence over its operations and future direction
- In July 2020, Showa Denko inaugurated new plants in Shanghai, focused on producing vinyl ester resin and synthetic resin emulsion. This expansion aims to bolster their resin business in China, enhancing production capacity and market presence in a rapidly growing regional market
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