Vinyl Ester Market Size (2024 - 2029)

The vinyl ester market is projected to experience growth, driven by its increasing use in the production of fiber-reinforced plastic tanks and corrosion-resistant equipment. Despite the challenges posed by the resin's toxicity, the market is expected to expand, particularly due to opportunities in flue gas desulphurization applications. The Asia-Pacific region, with significant contributions from countries like China, India, and Japan, currently leads in market demand. The market has rebounded from the negative impacts of the COVID-19 pandemic and is anticipated to continue its upward trajectory.

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Market Size of Vinyl Ester Industry

Vinyl Ester Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Vinyl Ester Market Key Players

*Disclaimer: Major Players sorted in no particular order

Vinyl Ester Market Analysis

The vinyl ester market was valued at USD 977 million in 2021, and it is expected to register a CAGR of over 4.5% during the forecast period (2022-2027).

The COVID-19 pandemic impacted the market negatively in 2020; however, it has been estimated to have reached pre-pandemic levels and is expected to grow at a steady rate during the forecast period (2022-2027).

The major factors driving the market are growing application in the manufacture of fiber-reinforced plastic tanks and vessels and increasing application in making corrosion-resistant equipment.

On the flip side, the toxicity of vinyl ester resin is hindering the growth of the market studied.

The growing application in flue gas desulphurization is expected to offer various opportunities for the growth of the market studied over the forecast period.

The Asia-Pacific region dominated the market for vinyl ester, with China, India, and Japan being the major contributors to the market demand.

Vinyl Ester Industry Segmentation

Vinyl ester has a greater degree of heat resistance and a high resistance to toxic agents and structural deformation corrosion. By esterification with acidic catalysts, epoxies can be converted to vinyl ester resin, providing an intermediate substance with mechanical capabilities smaller than those of epoxy resins but greater than polyester. The vinyl ester market is segmented by type, application, and geography. By type, the market is segmented into bisphenol A diglycidyl ether (DGEBA), epoxy phenol novolac (EPN), and other types. On the basis of application, the market is segmented into pipes and tanks, paints and coatings, transportation, and other applications. The report also covers the market sizes and forecasts in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Bisphenol A Diglycidyl Ether (DGEBA)
Epoxy Phenol Novolac (EPN)
Other Types
Application
Pipes and Tanks
Paints and Coatings
Transportation
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Vinyl Ester Market Size Summary

The vinyl ester market is poised for steady growth, driven by its increasing application in the manufacture of fiber-reinforced plastic tanks and vessels, as well as corrosion-resistant equipment. Despite the initial negative impact of the COVID-19 pandemic, the market has rebounded to pre-pandemic levels and is expected to continue expanding. The Asia-Pacific region, particularly China, India, and Japan, dominates the market due to the rising demand for vinyl ester in various industries. The material's superior chemical resistance and low permeability make it ideal for use in sectors such as power generation, mining, and industrial water treatment. However, the toxicity of vinyl ester resin presents a challenge to market growth, although opportunities exist in its application for flue gas desulphurization.

The pipes and tanks segment is anticipated to hold the largest share of the vinyl ester market, with significant usage in industries like chlor-alkali, chemical, and food processing. Vinyl ester-based FRP pipes and tanks are favored for their durability and reduced maintenance costs, particularly in industrial wastewater applications. The market is partially consolidated, with major players like Polynt, INEOS, and DIC CORPORATION holding a significant share. Recent industry developments, such as Lone Star's acquisition of AOC, highlight ongoing consolidation efforts. As China continues to expand its gas production and chemical manufacturing capabilities, it is expected to maintain its dominant position in the Asia-Pacific vinyl ester market.

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Vinyl Ester Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Application in the Manufacture of Fiber Reinforced Plastic Tanks and Vessels

      2. 1.1.2 Increasing Application in Making Corrosion-resistant Equipment

    2. 1.2 Restraints

      1. 1.2.1 Toxicity of the Resin

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

    5. 1.5 Import-export Trends

    6. 1.6 Feedstock Analysis

    7. 1.7 Technological Snapshot

    8. 1.8 Price Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Bisphenol A Diglycidyl Ether (DGEBA)

      2. 2.1.2 Epoxy Phenol Novolac (EPN)

      3. 2.1.3 Other Types

    2. 2.2 Application

      1. 2.2.1 Pipes and Tanks

      2. 2.2.2 Paints and Coatings

      3. 2.2.3 Transportation

      4. 2.2.4 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Vinyl Ester Market Size FAQs

The Vinyl Ester Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Polynt, DIC CORPORATION, INEOS, SHOWA DENKO K.K. and Interplastic Corporation are the major companies operating in the Vinyl Ester Market.

Vinyl Ester Market Report Snapshots

Vinyl Ester Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)