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 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.
Drivers 
Restraints 
Opportunities 
Challenges 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.
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
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.
| 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 |
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| 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. |
By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Application (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Hundred Tonnes, USD Billion, 2020-2031)
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