Corrosion Resistant Resin Market Insights, Potential Business Strategies, Mergers and Acquisitions, Revenue Analysis

Corrosion Resistant Resin Market has been segmented by type, application, end use industry and region. On the basis of type, the global market has been segmented into epoxy, polyester, polyurethane, and vinyl ester. On the basis of application, the market has been segmented into coatings, and composites; whereas, on the basis of end use industry, the market has been segmented into oil and gas, heavy industries, automotive and transportation, infrastructure, and marine.

 corrosion resistant resin market is witnessing growth, owing to increasing monetary losses due to corrosion and growth of the end-use industries. Another important factor that is likely to support the growth of this market is modernization of infrastructure. Moreover, there are other factors supporting the growth of the global market, including demand from end-use industries, particularly from oil and gas and automotive and transportation industries.

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Factors such as fluctuating raw material cost are restraining the growth of the global corrosion resistant resin market. Most of the raw materials used in the production of corrosion resistant resin are petroleum products, due to which, the prices of these raw materials have been highly volatile in recent times, affecting the growth of the market.

On the basis of type, Epoxy is the most commonly used material for coatings and composites applications. Epoxy is increasingly being used due to its excellent properties such as corrosion resistance, low cost, and easy application.

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Geographically, the Middle East and African market for corrosion resistant resin is growing on account of the large oil and gas reserves in the region; however, saturation in North America and Europe is posing a challenge for the corrosion resistant resin market to grow in these regions. Countries in these regions have a well-established infrastructure for public, commercial, and transport sectors, which is affecting the growth of the global corrosion resistant resin market.

Market players are collaborating with each other in order to develop new and innovative products, technologies, and manufacturing processes. These collaborations are expected to reduce competition in the global corrosion resistant resin market, during the forecast period (2016-2022).

The key players in the global corrosion resistant resin market are Ashland Inc., Hexion Inc., Reichhold LLC, Huntsman Corporation and Scott Bader Company Limited.

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