Vinyl Ester Market Size
|2019 - 2029
|Base Year For Estimation
|> 4.50 %
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Vinyl Ester Market Analysis
The vinyl ester market was valued at USD 977 million in 2021, and it is expected to register a CAGR of over 4.5% during the forecast period (2022-2027).
The COVID-19 pandemic impacted the market negatively in 2020; however, it has been estimated to have reached pre-pandemic levels and is expected to grow at a steady rate during the forecast period (2022-2027).
The major factors driving the market are growing application in the manufacture of fiber-reinforced plastic tanks and vessels and increasing application in making corrosion-resistant equipment.
On the flip side, the toxicity of vinyl ester resin is hindering the growth of the market studied.
The growing application in flue gas desulphurization is expected to offer various opportunities for the growth of the market studied over the forecast period.
The Asia-Pacific region dominated the market for vinyl ester, with China, India, and Japan being the major contributors to the market demand.
Vinyl Ester Market Trends
This section covers the major market trends shaping the Vinyl Ester Market according to our research experts:
The Pipes and Tanks Segment is Expected to Dominate the Market
To avoid losing a large amount of time to maintenance and repairs, the corrosion industry is choosing composite materials that are resistant to corrosion and can withstand high temperatures without losing their strength or durability.
The fiber-reinforced plastic (FRP) application in pipes and tanks has been rising in recent years. Vinyl ester resins are widely used in many industries due to their superior chemical resistance and low permeability.
They are being extensively used to fabricate fiber-reinforced plastic (FRP) storage tanks, pipelines, and duck systems. The pipes and tanks segment is estimated to have the largest share in the vinyl ester market.
Vinyl ester-based FRP pipes and tanks are widely used in industries such as the chlor-alkali and chemical industry, power generation industry, mining and metal industry, industrial water and wastewater industry, food processing industry, and pulp and paper industry.
Vinyl ester-based FRP pipings are used for many applications in the power industry. Some of these include slurry piping, FGD absorber spray headers, and storage tanks.
Vinyl ester-based pipes are also popular in industrial wastewater applications as they reduce long-term maintenance and pump operating costs.
Based on the above-mentioned aspects, the pipes and tanks segment is expected to dominate the market.
China is Expected to Dominate the Asia-Pacific Market
In the Asia-Pacific region, China is the largest economy in terms of GDP.
According to China National Petroleum Corp. (CNPC), the gas consumption in China was expected to rise to 320 billion cubic meters (BCM) in 2020; gas consumption is expected to surge to around 600 BCM by 2040. In order to meet the growing gas demand, the country is planning to double its gas production to 325 BCM by 2040.
There are numerous chemical plants lined up for construction within the period of the next five years in the country. BASF started the construction of its USD 10 billion integrated petrochemicals project, located in the southern province of Guangdong in China. The first phase of this plant is scheduled to come online by the end of 2022.
China is the world's largest automotive producer. The production increased by 53% in the first nine months of 2021 in comparison to the same period of 2020.
Based on the aforementioned aspects, China is expected to dominate the Asia-Pacific market.
Vinyl Ester Industry Overview
The vinyl ester market is partially consolidated, with the top players holding a significant share. The top five players account for a share of more than 60% of the total market. Some of the major players (in no particular order) include Polynt, INEOS, DIC CORPORATION, Interplastic Corporation, and SHOWA DENKO K.K., among others.
Vinyl Ester Market Leaders
SHOWA DENKO K.K.
*Disclaimer: Major Players sorted in no particular order
Vinyl Ester Market News
- In October 2021, Lone Star completed the acquisition of AOC's shares from CVC Capital Partners. AOC is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins, and other solutions for applications in coatings and protective barriers, colorants and visual effects, adhesives, and conventional composite resins.
Vinyl Ester Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Application in the Manufacture of Fiber Reinforced Plastic Tanks and Vessels
4.1.2 Increasing Application in Making Corrosion-resistant Equipment
4.2.1 Toxicity of the Resin
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Import-export Trends
4.6 Feedstock Analysis
4.7 Technological Snapshot
4.8 Price Analysis
5. MARKET SEGMENTATION
5.1.1 Bisphenol A Diglycidyl Ether (DGEBA)
5.1.2 Epoxy Phenol Novolac (EPN)
5.1.3 Other Types
5.2.1 Pipes and Tanks
5.2.2 Paints and Coatings
5.2.4 Other Applications
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Bkdj Polymers India
6.4.3 DIC CORPORATION
6.4.5 Interplastic Corporation
6.4.8 Scott Bader Company Ltd
6.4.9 SHOWA DENKO K.K
6.4.10 Sino Polymer Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application in Flue Gas Desulphurization
Vinyl Ester Market Research FAQs
What is the current Vinyl Ester Market size?
The Vinyl Ester Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in Vinyl Ester Market?
Polynt, DIC CORPORATION, INEOS, SHOWA DENKO K.K. and Interplastic Corporation are the major companies operating in the Vinyl Ester Market.
Which is the fastest growing region in Vinyl Ester Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vinyl Ester Market?
In 2024, the Asia Pacific accounts for the largest market share in Vinyl Ester Market.
What years does this Vinyl Ester Market cover?
The report covers the Vinyl Ester Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vinyl Ester Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vinyl Ester Industry Report
Statistics for the 2024 Vinyl Ester market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vinyl Ester analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.