Vinyl Ester Market Growth Analysis and Key Players over 2020-2025 | Ashland, Hexion Inc., Interplastic Corporation, Scott Bader

According to a research report, Vinyl Ester Market size is projected to exceed USD 1.7 billion by 2025. Vinyl ester industry is projected to witness significant growth during the forecast period, owing to its indiscriminate deployment across several industries for dealing with harsh chemicals such as acids, alkalis, bleaches, etc. The product offers high resistance to these corrosive chemicals used in several industry verticals.

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Owing to higher resistance against corrosion and impact as compared to conventional materials, the vinyl ester market has witnessed increasing consumption from the chemicals, energy and marine industries. These segments utilize vinyl esters for coating and protecting equipment, pipes and storage tanks where characteristics like chemical and abrasion, low permeability and reactivity are critical. Although use of these materials by the wind energy segment has been cumulating gradually over the last few years, the vinyl ester industry will continue to amass quite some returns from the chemical processing sector. Applying protective layers on steel and other metal tanks and pipes is a key application of vinyl esters, for ensuring improved performance and countering corrosion challenges.

The increasing popularity of green energy alternatives especially wind energy for curbing the carbon footprints is also proliferating the demand for vinyl ester on a large scale. Currently, with the rise in per capita income, most of the industry magnates have been investing in the development of private ferries for traveling through inland waterways. The substantial use of vinyl ester for building strong, lightweight, and comfortable ships will have a considerable influence on vinyl ester market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Swancor Renewable Energy Co., Ltd.
2. Mechemco Industries - India
3. Nivitex Fibreglass & Resins
4. Polynt-Reichhold Group
5. Aliancys
6. Interplastic Corporation
7. Ashland
8. Sino Polymer Co., Ltd.
9. Showa Denko America
10. Hexion Inc.
11. Scott Bader Co. Ltd
12. DIC India Limited

Rapid expansion of shipbuilding sector will positively support vinyl ester market growth in the upcoming future, owing to high demand for several vessels such as tankers, bulkers and mid-range ships and boats. The shipbuilding industry will look to incentivize the anti-corrosion nature of the product. Vinyl ester resins find widespread utilization in marine applications for manufacturing waterproof barriers for boat hulls and other vulnerable components. Surging global trade, coupled with increasing demand for mega-ships is likely to encourage product penetration across the marine applications, thus accelerating vinyl ester market trends.

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Consistent demand for chemical resistant pipes and tanks for chemical manufacturing, storage and supply will strengthen the vinyl ester market, which recorded earnings of more than USD 1 billion in 2017 globally. In addition to being suitable for linings in steel and concrete tanks, pipes and other enclosures, these materials can be used in the fabrication of FRP pipes and storage tanks as well. The growing chemical sector will boost the utilization of high performance storage tanks and fuel the expansion of the vinyl ester industry. Citing an example to demonstrate the growth potential of the chemicals segment, Wanhua Chemical has recently announced it would be constructing a USD 1.25 billion chemical manufacturing facility in Louisiana, U.S.

Growth Drivers:

o Extensive use of vinyl ester resins in the pipes & tanks
o Growth in the U.S. Marine Industry
o Increasing installation of wind turbines in Europe

Taking into account the future business opportunities in the vinyl ester market, several chemical manufacturers have been teaming up to launch qualitative vinyl esters. For instance, in August 2018, Aliancys and AOC collaborated to establish a new company involved in the production of vinyl ester resin, polyester resin, gel coats, and other materials required to develop the composite materials. The duo is planning to enhance their customer base by offering excellent prospects and quality products to the end-use companies. This kind of collaborative approach will help companies leverage their regional reach and strengthen their technology expertise effectively.

In 2017, the pipes & tanks application accounted for over 40% of vinyl ester market share. The growth can be credited to immense product demand for storing and processing chemical formulations at high temperatures. Moreover, the product is also used for coating metal containers pertaining to its chemical resistivity which increases the life of electro-refining tanks. Escalating demand for corrosion-resistant pipes & tanks owing to extensive chemical usage in processing raw materials will drive vinyl ester market demand over the projected timeframe.

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The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2025.

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-The report analyses the various market segments and also provides their contribution to the development of the global industry.

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