Market Analysis
The Vinyl Ester Market is calculated and valued at USD 783.8 million in 2018 and is also projected to reach the USD of 1,091.04 million during the forecast period with a CAGR of 4.2% from the year 2019 to 2026. Vinyl ester, the hybrid version of polyester resin is utilized as a resin. The strength of the polyester resin is increased by adding epoxy resin.
Various factors are adding to the global vinyl ester market growth. Such factors, according to the new MRFR report, include increasing demand for FGD (flue gas desulfurization) installation, rising environmental concerns, regulations on harmful emissions, constant demand in water & wastewater treatment and chemical industry, rise in infrastructure investments, and burgeoning demand for materials that are corrosion resistant. Vinyl ester has favorable properties like corrosion resistance, low viscosity, the ability to withstand water absorption, and high strength, which is also adding market growth.
On the contrary, its cost-intensive nature, low shelf life, and availability of substitutes may limit the global vinyl ester market growth over the forecast period.
Covid-19 Analysis on Vinyl Ester Market/Covid-19 ABC market analysis
With the COVID-19 pandemic spreading at a fast pace, it has had a pervasive impact on various industries and markets, including the vinyl ester market. Most vinyl ester companies are working hard to develop policies to address the market landscape that is quickly changing. After this outbreak, a huge shortage of vinyl ester has been noticed due to massive disruption in its supply chain.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global vinyl ester market report based on end use industry and product type.
By product type, the global vinyl ester market is segmented into vinyl ester modified, brominated vinyl ester, bisphenol, and others.
By end use industry, the global vinyl ester market is segmented into construction, aerospace, oil and gas, wind energy, marine, pipes and tanks, and others.
Regional Analysis
Based on the region, the global vinyl ester gelcoat report covers the recent trends & growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will lead the market over the forecast period for the booming wind, and oil & gas industry. China, Japan, and India are the chief contributors in the market for the rising investment in wind energy, and oil & gas sectors.
The global vinyl ester market in North America is predicted to have the second-largest share over the forecast period. The US is the chief contributor in the region for the presence of several end-use industries like the marine industry and the rising production of ships and yachts. Vinyl ester helps in preventing the entry of water into yachts and ships, which is adding market growth.
The global vinyl ester market in Europe is predicted to have healthy growth over the forecast period. Italy, Germany, France, and the UK are the chief contributors in the region. The automotive & aerospace industries in this region are the key consumers of vinyl ester that is used to manufacture reinforced fiberglass that is boosting the market growth.
The global vinyl ester market in Latin America is predicted to have steady growth over the forecast period. Brazil and Argentina are the chief contributors in the region.
The global vinyl ester market in the MEA is predicted to have healthy growth over the forecast period for the increasing end-use industries such as building and construction. Vinyl ester is utilized to manufacture chimneys, window canopies & dormers, over-door canopies, door surrounds, and roof laminate.
Key Players
Prominent players profiled in the global vinyl ester market report include Allnex Group (Germany), Scott Bader Company Ltd. (U.K), Polynt S.p.A. (Italy), Showa Denko K.K. (Japan), AOC, LLC (U.S.), Swancor Holding Co., Ltd. (China), Sino Polymer New Materials Co., Ltd. (China), Reinhold GmbH (Germany), Interplastic Corporation (U.S.), and Ashland Global Holdings Inc. (U.S.).
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