Vinyl Ester Market Size, Share & Industry Analysis, By Type (Novolac, Bisphenol A, Brominated, Elastomer Modified), By Application (Wind Power, Marine (Tie Coat, Hull & Deck), Storage Tank, Pressure Pipes & Process Vessels, Chimney Liners, Electrostatic Precipitators & Scrubbers, Building & Infrastructure, Mining Equipment, Others), Others and Regional Forecast, 2024-2032

The global vinyl ester market size is predicted to increase rapidly over the forecast period. Vinyl Ester or vinyl ester resin is a resin manufactured by the esterification of epoxy resin with methacrylic acids. It has properties similar to thermosets and is used as a substitute for epoxy and polyester materials. It is applied to the surface through coating, slurry or trowelled surfacing. It offers superior chemical resistance and thus it is used in applications requiring high chemical resistance. Due to its superior resistance to salty ocean water, it is used in hulls, decks and even as tie coating materials for marine vessels.

Vinyl Esters have wide adoption for applications involving superior chemical resistance exposure to harsh environmental conditions. For instance, in marine applications (boat, ships, yacht etc.), vinyl ester resin is used for its high water barrier resistance and ability to prevent osmatic blistering. In the chemical and other industrial plants, it is used for storage tanks, process vessels, pressure pipes, chimney lining, electrostatic precipitators, scrubbers, etc. Often its glass-fibre filled grades are used in building & infrastructure, aerospace & defence and other applications.

Key Market Driver -

Wide adoption in vinyl ester for industrial applications due to ability to withstand extreme conditions and corrosive environment drives the global vinyl ester market.

Key Market Restraint -

Relative high cost of vinyl esters compared to their counterpart epoxy and polyester, restricts the market growth.

However, it is relatively expensive than polyester and epoxy resin that limits its market growth. Moreover, it is toxic in nature that exposes it to various manufacturing and safety regulations. For instance, the manufacturers are required to follow regulation 8 of organic compounds in the US, to comply with the air quality norms.         

Vinyl Ester Market Segmentation Analysis:

On the basis of type, vinyl ester market is segmented into novolac, bisphenol A, brominated, and elastomer modified. On the basis of Application, vinyl ester market is segmented into wind power, Marine (tie coat, hull & deck), Storage Tank, Pressure Pipes & Process Vessels, Chimney liners, electrostatic precipitators & scrubbers, Building & Infrastructure, and others. From a geographical standpoint, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.      

Key Players Covered:

• INEOS


• Sino Polymer Co., Ltd.


• Interplastic Corporation


• Polynt


• Swancor Holding Company Limited


• Reichhold LLC


• ALIANCYS AG


• SHOWA DENKO K.K.


• Scott Bader Company Ltd.


• DIC CORPORATION


• Hexion

Key Insights

• New Advancements in Production Technologies


• Key Trends in Vinyl Ester Market


• New Product Launches, Expansions, Key Players


• Regulatory Landscape


• Porters Five Forces Analysis

Regional Analysis:

Rising Chemical & Materials Industry to Boost Growth in North America

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On a geographical basis, the vinyl ester market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific & North America account for a significant share in the global vinyl ester market closely followed by Europe. Countries like Japan, South Korea, China, Taiwan, Singapore and India drive the market of vinyl esters in Asia-Pacific region on the back of gigantic chemical & materials manufacturing industry along with other end-use industries. North America market is also driven by industrial and wind power applications of vinyl ester. The shipbuilding or marine industry also accounts for significant shares in the market. Western Europe countries like France, Germany, UK, Belgium, Spain, etc. drive the European vinyl ester market due to established end-use markets. Middle East & Africa and Latin America are relatively small markets of vinyl esters. The chemicals & petrochemicals industries in Middle East drive the local markets of vinyl ester. Brazil & Mexico lead the market in Latin America region. The region is experiencing great political and economic turmoil which has impacted the market. With the improvement in socio-economic conditions, the demand for vinyl ester is expected to increase over the forecast period.  

Segmentation

Vinyl Ester Industrial Developments

• September, 2019, INEOS Enterprises, a manufacturer of specialty chemicals & materials, successfully completed the acquisition of Ashland composites business. The deal was announced in November 2018. The acquisition has strengthened INEOS composites business. The deal was worth USD 1.1 billion. 


• March, 2018, Ashland Inc, a specialty chemicals manufacturing company headquartered in the US, announced price hikes for vinyl ester resins in North America by about $0.08 – $0.12/lb depending on grade. Other manufacturers had also announced prices hike prior to announcement by Ashland.