According to a new report, published by KBV research, The Global Corrosion Resistant Resin Market size is expected to reach $12.5 billion by 2031, rising at a market growth of 5.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 2,875.60 kilo tonnes, experiencing a growth of 23.5% (2020-2023).
The Composites & Other Applications segment registers a CAGR of 6.2% during (2024 - 2031). Composites, formed by combining corrosion-resistant resins with reinforcing materials like fiberglass, carbon fiber, or aramid fibers, are increasingly sought for superior strength-to-weight ratio and exceptional durability. These materials are used in industries that require high performance and resilience under extreme conditions. The automotive sector also utilizes these composites to reduce weight while maintaining strength and corrosion resistance, particularly in electric vehicles (EVs), where lightweight materials are crucial for improving efficiency and battery performance.
The Epoxy segment is leading the Global Corrosion Resistant Resin Market by Type in 2023; thereby, achieving a market value of $4.5 billion by 2031. Epoxy resins are widely favored for their excellent adhesion, chemical resistance, and durability, making them popular for industries requiring protection against corrosion, such as construction, automotive, and marine sectors. Their ability to form strong bonds with various substrates and their resistance to environmental wear and tear contribute to their market dominance.
The Marine segment exhibits a CAGR of 6% during (2024 - 2031). Marine environments are notorious for their corrosive nature, with constant exposure to saltwater, moisture, and harsh weather conditions. As a result, corrosion-resistant resins are extensively used in constructing and maintaining ships, offshore platforms, and other marine structures. These resins are used in coatings to protect vessels from the damaging effects of corrosion, prolonging the lifespan of ships and reducing maintenance costs.
Full Report: https://www.kbvresearch.com/corrosion-resistant-resin-market/
The Asia Pacific region dominated the Global Corrosion Resistant Resin Market by Region in 2023; thereby, achieving a market value of $5.6 billion by 2031. The North America region would capture a CAGR of 4.8% during (2024 - 2031). Additionally, The Europe region is expected to witness a CAGR of 5.3% during (2024 - 2031).
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)
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