The Europe Corrosion Resistant Resin Market would witness market growth of 5.3% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 441.07 kilo tonnes, showcasing a growth of 22.9% (2020-2024).
Polyurethane resins are increasingly popular in the corrosion-resistant resin market, thanks to their flexibility, toughness, and excellent resistance to abrasion and chemicals. These properties make polyurethanes ideal for protective coatings and sealants, which create robust barriers against moisture, UV radiation, and environmental factors. Widely used in various industries, including automotive, construction, and aerospace, polyurethane resins can be customized to meet specific application needs, thereby enhancing their appeal. Therefore, by the year 2031, 14.81 kilo tonnes of are expected to be utilized in France.
The Germany market dominated the Europe Corrosion Resistant Resin Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $654.6 million by 2031. The UK market is exhibiting a CAGR of 4.5% during (2024 - 2031). Additionally, The France market would experience a CAGR of 6.2% during (2024 - 2031).
In the automotive industry, corrosion-resistant resins are essential for producing lightweight and durable parts that can withstand exposure to road salts, chemicals, and moisture. These resins manufacture body panels, fuel tanks, and other external components. The increasing adoption of electric vehicles (EVs), which require advanced materials for batteries and chassis, has further amplified the demand for corrosion-resistant resins. Moreover, the automotive industry’s focus on reducing vehicle weight for better fuel efficiency has contributed to the growing use of composite materials, which include corrosion-resistant resins.
The marine industry relies heavily on corrosion-resistant materials due to its continuous exposure to highly corrosive seawater. Corrosion-resistant resins, particularly vinyl ester and epoxy resins, are widely used to manufacture boat hulls, pipelines, and other marine structures. These resins offer superior resistance to saltwater corrosion, ensuring that vessels and marine equipment maintain their strength and durability over time. The rising demand for recreational boating and the expansion of the shipping and logistics industries contribute to the growth of corrosion-resistant resins in this sector.
As the EU’s industrial production grows, the need for corrosion-resistant resins will intensify. This is due to the increased requirement for materials that can handle corrosive environments, such as exposure to chemicals, moisture, and extreme weather conditions, which are prevalent in many industrial processes. Furthermore, the EU’s strong focus on sustainable and high-performance materials aligns with the growing demand for corrosion-resistant resins, which provide durability and contribute to the overall sustainability and cost-effectiveness of industrial operations by reducing maintenance costs and extending the lifespan of equipment. Therefore, the rising industrial production in the European Union is directly supporting the growth of the market.
Free Valuable Insights: The Global Corrosion Resistant Resin Market will Hit USD 12.5 Billion by 2031, at a CAGR of 5.5%
Based on Application, the market is segmented into Coating and Composites & Other Applications. Based on Type, the market is segmented into Epoxy, Polyurethanes, Polyester, Vinyl Ester, and Other Types. Based on End Use, the market is segmented into Oil & Gas, Chemical, Marine, Automobiles, and Other End Uses. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End User (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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