Growth Opportunities in the Vinyl Ester Resin Market
The future of the vinyl ester resin market looks attractive with opportunities in the pipe and tank,construction, transportation, and paint and coatings industries. The global vinyl ester resin marketis expected to reach an estimated $951 million by 2022 and is forecast to grow at a CAGR of 3.9%from 2017 to 2022. The major growth drivers for this market are increasing demand for corrosionresistance materials, growing infrastructural investments, and rehabilitation of old infrastructuralprojects.
Bisphenol-A vinyl ester, novolac vinyl ester, and brominated vinyl ester resin are the major resinchemistries used in this market. Lucintel forecasts that bisphenol-A vinyl ester resin is expected toremain the largest segment due to its good mechanical properties and chemical resistanceproperties at a relatively lower cost. Novolac vinyl ester resin is expected to witness the highestgrowth in the forecast period due to its growing use in applications which require excellentresistance to oxidizing acids, better heat resistance, and superior solvent resistance.
Within the vinyl ester resin market, fiber reinforced plastic (FRP) is expected to remain the largestend use industry. It is also expected to witness the highest growth during the forecast period,supported by the increasing demand for lightweight and corrosion resistance pipe and tankproducts in new as well as old infrastructural rehabilitation projects. Within the FRP, pipe and tankindustry is expected to remain largest market for vinyl ester resin, while transportation is expectedto witness highest growth in the forecast period.
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