Vinyl Ester Market

Global Vinyl Ester Market Size, Share & Trends Analysis Report By Type (Bisphenol A Diglycidyl Ether (DGEBA), Epoxy Phenol Novolac (EPN), Brominated Fire Retardant, and Others), By Application, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-22438 Publication Date: May-2024 Number of Pages: 305
2023
USD 1.2 Billion
2031
USD 1.9 Billion
CAGR
6.3%
Historical Data
2020 to 2022

“Global Vinyl Ester Market to reach a market value of USD 1.9 Billion by 2031 growing at a CAGR of 6.3%”

Analysis of Market Size & Trends

The Global Vinyl Ester Market size is expected to reach $1.9 billion by 2031, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 4,365.12 hundred tonnes, experiencing a growth of 20.4% (2020-2023).

The growing chemical processing industry in the Asia Pacific is driving the demand for vinyl ester resins to manufacture corrosion-resistant equipment such as storage tanks, pipes, and reactors. Thus, the Asia Pacific market captured 39.5% revenue share in the market 2023. In terms of volume Asia Pacific region would attain a volume of 2,887.66 hundred tonnes in the market 2031.The automotive industry in Asia Pacific is witnessing significant growth, driving the demand for lightweight materials like vinyl ester composites for vehicle components. For instance, according to the International Trade Administration's 2023 data.

Vinyl Ester Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Vinyl ester resins provide high mechanical strength, impact resistance, and dimensional stability, making them suitable for demanding applications such as aerospace, automotive, marine, and industrial components.

Additionally, Vinyl ester resins offer excellent corrosion resistance properties, making them ideal for manufacturing equipment such as storage tanks, pipelines, reactors, and scrubbers used in chemical processing plants. Thus, because of the growth in the chemical processing industry, the market is anticipated to increase significantly.

However, Vinyl ester resins may be perceived as a premium material option, leading to cost considerations that favor more economical alternatives. Vinyl ester manufacturers face competitive pricing pressure from alternative materials such as epoxy, polyester, phenolic, and thermoplastic resins. Thus, high cost compared to alternative materials can slow down the growth of the market.

Driving and Restraining Factors
Vinyl Ester Market
  • Increasing use in 3D printing applications
  • Growth in the chemical processing industry
  • Expansion of the automotive sector
  • High cost compared to alternative materials.
  • Regulatory and environmental concerns
  • Infrastructure development and renewal
  • Growing aerospace sector globally
  • Lack of supply chain disruptions
  • Significant complex manufacturing processes

Application Outlook

Based on application, the market is classified into pipes & tanks, paints & coatings, transportation, pulp & paper, and others. In 2023, the pipes & tanks segment witnessed 50.2% revenue share in the market. In terms of volume, the pipes & tanks segment would attain a volume of 3,201.77 hundred tonnes in the market 2028.

Vinyl Ester Market Share and Industry Analysis Report 2023

Type Outlook

By type, the market is categorized into bisphenol A diglycidyl ether (DGEBA), epoxy phenol novolac (EPN), brominated fire retardant, and others. The epoxy phenol novolac (EPN) segment covered 25.3% revenue share in the market in 2023. In terms of volume of 1,566.60 hundred tonnes in the market 2030.

Free Valuable Insights: Global Vinyl Ester Market size to reach USD 1.9 Billion by 2031

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region procured 25.2% revenue share in the market. In terms of volume North America region would attain a volume of 1,468.43 hundred tonnes in the market 2031.

Vinyl Ester Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 1.2 Billion
Market size forecast in 2031 USD 1.9 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 6.3% from 2024 to 2031
Quantitative Data Volume in Hundred Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031
Number of Pages 305
Number of Tables 570
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included INEOS Group Holdings S.A., DIC Corporation, Ashland Inc., Hexion Inc. (Hexion Intermediate Holding 2, Inc.), Allnex GMBH (PTT Global Chemical Public Company Limited), Swancor Holding Co., Ltd., Sino Polymer Co., Ltd., Interplastic Corporation (IP Corporation), Resonac Holdings Corporation, Polynt S.p.A.
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List of Key Companies Profiled

  • INEOS Group Holdings S.A.
  • DIC Corporation
  • Ashland Inc.
  • Hexion Inc. (Hexion Intermediate Holding 2, Inc.)
  • Allnex GMBH (PTT Global Chemical Public Company Limited)
  • Swancor Holding Co., Ltd.
  • Sino Polymer Co., Ltd.
  • Interplastic Corporation (IP Corporation)
  • Resonac Holdings Corporation
  • Polynt S.p.A.

Vinyl Ester Market Report Segmentation

By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)

  • Bisphenol A Diglycidyl Ether (DGEBA)
  • Epoxy Phenol Novolac (EPN)
  • Brominated Fire Retardant
  • Others

By Application (Volume, Hundred Tonnes, USD Billion, 2020-2031)

  • Pipes & Tanks
  • Paints & Coatings
  • Transportation
  • Pulp & Paper
  • Others

By Geography (Volume, Hundred Tonnes, USD Billion, 2020-2031)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $1.9 billion by 2031.

Increasing use in 3D printing applications are driving the Market in coming years, however, High cost compared to alternative materials restraints the growth of the Market.

INEOS Group Holdings S.A., DIC Corporation, Ashland Inc., Hexion Inc. (Hexion Intermediate Holding 2, Inc.), Allnex GMBH (PTT Global Chemical Public Company Limited), Swancor Holding Co., Ltd., Sino Polymer Co., Ltd., Interplastic Corporation (IP Corporation), Resonac Holdings Corporation, Polynt S.p.A.

In the year 2023, the market attained a volume of 4,365.12 hundred tonnes, experiencing a growth of 20.4% (2020-2023).

The Bisphenol A Diglycidyl Ether (DGEBA) segment is leading the Market by Type in 2023; thereby, achieving a market value of $972.3 million by 2031.

The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $780.8 million by 2031.

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