Sellbyville, Delaware, Nov. 07, 2018 (GLOBE NEWSWIRE) --
Vinyl Ester Market is estimated to reach USD 1.7 billion by 2025; according to a new research report by Global Market Insights, Inc. Growth trends in the shipbuilding sector will support the vinyl ester market growth in the next seven years.
The product has a higher resistance to corrosive environments and chemicals than the unsaturated polyesters. Thus, vinyl ester resins and vinyl ester blended with polyester have been extensively used in the marine applications for producing efficient water-resistant barrier for boat hulls and other parts. The increasing mega-ship building projects present brighter outlook for the product demand in marine applications.
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Vinyl ester market will have a range of applications in the wind energy sector by 2025. Wind energy has been an essential source of renewable energy. As per the WindEurope estimates, the wind power share in the EU’s total installed power capacity has augmented to 18% in 2017 from 6% in 2005. Wind energy has overtaken coal as the second largest form of power generation capacity in the EU in 2016. An upward trend in wind energy industry will encourage the overall market during the forecast span.
As compared to polyester, vinyl ester resins excel on various parameters; for instance, higher durability, superior heat resistance, low maintenance and high performance for extremely challenging environment. However, the overall market growth will be subjected to some restrains including high cost of production, lower shelf life of the product and regulations to lessen the VOC content of product, in the coming years.
Novolac based product involves higher crosslinking density as compared to bisphenol A based resins. With this feature, the resin exhibits superior resistance to liquid environment and provides high resistance to penetration of chemicals into the matrix. Novolac vinyl ester segment is estimated to grow with a CAGR above 6% during the forecast span.
Browse key industry insights spread across 267 pages with 360 market data tables & 24 figures & charts from the report, “Vinyl Ester Market Size By Product (Bisphenol A, Novolac, Brominated Fire Retardant), By Application (Pipes & Tanks, Marine, Wind Energy, FGD & Precipitators, Pulp & Paper), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Poland, Russia, China, India, Japan, Australia, Indonesia, Thailand, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/vinyl-ester-market
The pipes & tanks was the largest area of applications in vinyl ester market in year 2017, with a share over 40%. The product has been highly demanded in high temperature formulations, including: chemical reactors and storage vessels. The product has also been used as topcoats for metal containers and in electro-refining tanks. The rising demand from corrosion-resistant pipes & tanks is projected to drive global market during the forecast span.
Asia Pacific led the overall vinyl ester market in 2017 and is expected to follow the similar trend by 2025. North America will observe growth with a CAGR close to 6%. Increasing disposable income on existing rich class individuals and increasing number of High Net Worth Individual (HNWI) will positively influence the demand for luxury goods in the region. Moreover, the recreational boating culture in the North American region is comparatively high which, in turn will drive the market demand for these marine applications in the region by 2025.
Leading manufacturers in market have been: Swancor Holding, Ashland, Sino Polymer Co., Ltd., ALIANCYS AG, Showa Denko, Interplastic Corporation, etc. The industry has marked several price hikes in the recent decade on account of increase in the raw materials costs.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.