Vinyl Ester Resins Market Promising Growth Worth US$1,320.86 Million By 2030

New York, July 06, 2023 (GLOBE NEWSWIRE) -- The global Vinyl Ester Resins Market is expected to witness significant growth at a remarkable CAGR of 4.8% during the forecast period of 2023-2030. The factors such as the increasing transportation production activities, development of new paints & coatings manufacturing facilities, and others are accelerating the demand for vinyl ester resins, which, in turn, is benefiting the market growth. In addition, the rising development of a new range of vinyl ester resins product categories will further boost the market growth during the forecast period.

According to a recent report by Consegic Business Intelligence, the vinyl ester resins market is poised for strong expansion and is expected to reach USD 1,320.86 Million by 2030. The market, which was valued at USD 913.02 Million in 2022, is predicted to grow at a compound annual growth rate of 4.8% during the period 2023-2030. The report highlights the increasing adoption of vinyl ester resins in pipes and tanks, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the vinyl ester resins market.

Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1114 

The rusting impact has a deteriorating implication on the chemicals and materials, which may result in industrial hazards. As a result, vinyl ester resins are majorly deployed in the production of pipes and tanks that contain chemicals and materials. The vinyl ester resins are employed in the pipes and tanks to ensure superior resistance against chemicals. For instance, in September 2022, Tata Metaliks Limited opened a ductile iron pipe plant in Kharagpur, India. The ductile iron pipe manufacturing plant is having a capacity of factory is more than 4 lakh tonnes per annum. Therefore, the development of new pipe manufacturing facilities is fostering the demand for vinyl ester resins to protect the products from rust, this, in turn, is boosting the market growth.

Vinyl ester resins are frequently utilized in the transportation industry to increase resistance against corrosion and withstand water absorption. For instance, in October 2021, Foxconn, a leading Taiwanese multinational electronics contract manufacturer, announced its plans for the development of electric vehicles plant in India by the end of 2024. In March 2022, Ford announced its plans to launch 7 new electric vehicles in Europe by the end of 2024. Furthermore, it plans to sell more than 600,000 electric vehicles in the European region by the end of 2026. Thus, the future anticipated growth of the transportation sector will boost the demand for vinyl ester resins to ensure superior mechanical toughness of transportation, thereby creating a potential for market growth in the upcoming years.

Global Vinyl Ester Resins Market: Report Attributes

Immediate Delivery Available, Buy Now @ https://www.consegicbusinessintelligence.com/secure-checkout/1114 

Global Vinyl Ester Resins Market Segmentation Details:

Based on type, the epoxy vinyl ester resins segment contributed the largest shares to the market growth in 2022. Epoxy vinyl ester resins, including bisphenol A diglycidyl ether (DGEBA) and epoxy phenol novolac (EPN), increase the durability of products. As a result, epoxy vinyl ester resins are deployed in applications involving industrial tanks & pipes. The construction of tank manufacturing facilities at the global level is fostering the growth of the market. Thus, the launch of a new metal tank manufacturing facility is projected to boost the demand for epoxy vinyl ester resins to ensure superior strength, which, in turn, is proliferating the market growth.

Based on application, the pipes and tanks segment is anticipated to offer substantial shares in the global vinyl ester resins market growth during the forecast period. Vinyl ester resin is equipped with superior performance features, including longer shelf life, low styrene emission, improved shop efficiency, and others. The above features lead to increased secondary bonding, reduced gassing for faster consolidation, easy surface preparation, and less process time. This results in the superior durability of pipes and tanks. Hence, the above benefits associated with vinyl ester resin are resulting in the increased adoption of the product in pipes and tanks to ensure superior environmental protection, which, in turn, is benefiting the market growth.

Based on region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. This is due to the growth of the end-use industries, including paints & coatings, pipes & tanks, and others in the region. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2022, the Asia Pacific region manufactured the highest number of total automotive vehicles at the global level, holding a share of 58.84%. In 2021, the total production of automotive vehicles in the Asia Pacific was 46,768,800 units, and in 2022, it was 50,020,793 units, an increase of 7% over 2021. Thus, the growth of the above industries is driving the regional demand for vinyl ester resins to ensure the long shelf life of products, thereby accelerating market growth.

Browse Full Report & TOC @ https://www.consegicbusinessintelligence.com/vinyl-ester-resins-market 

Competitive Landscape

As per the research, AOC, DIC CORPORATION, INEOS, and Interplastic Corporation are prominent market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of vinyl ester resins. Further, the vinyl ester resins market is anticipated to grow steadily due to rising demand for superior durability materials, especially in the regions such as North America, Asia Pacific, and Europe regions are expected to boost the market statistics in the coming years. Additionally, the trend toward increasing acquisitions and product launches for vinyl ester resins is anticipated to increase the competition in the market.

Key Market Takeaways

• The global vinyl ester resins market size is estimated to exceed USD 1,320.86 million by 2030 with a CAGR of 4.8% during the forecast period (2023-2030).
• Asia Pacific accounted for the highest market share at 35.08% and was valued at USD 320.29 million in 2022, and is expected to reach USD 468.77 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 24.05% during the base year of 2022.
• Based on type, the epoxy vinyl ester segment accounted for the highest share contribution to the vinyl ester resins market statistics in 2022.
• By application, the pipes and tanks segment is anticipated to contribute the largest shares to the market growth in 2022.
• Europe is expected to boost the market demand for vinyl ester resins due to the increasing investments in transportation manufacturing facilities in countries such as the United States, Germany, France, and others.

Recent Developments

• In October 2021, Lone Star, a global private equity firm acquired AOC, a leading player in the global vinyl ester resins. The prime aim of the acquisition was to increase the market position in the global vinyl ester resins industry.
• In April 2021, SIR INDUSTRIALE S.P.A., headquartered in Italy which is involved in the manufacturing of resins launched SIRESTER VE 64-M-140, a new range of epoxy novolac vinyl ester resin. The primary focus of SIR INDUSTRIALE S.P.A. was to increase the product offering of vinyl ester resin in the global market.

List of Major Global Vinyl Ester Resins Market:

• AOC
• DIC CORPORATION
• INEOS
• Interplastic Corporation
• SHOWA DENKO K.K
• Sino Polymer Co. Ltd
• Polynt
• Scott Bader Company Ltd
• Poliya
• Swancor Advanced Materials Co Ltd

Global Vinyl Ester Resins Market Segmentation: 

• By Type
  • Epoxy Vinyl Ester Resins
    • Bisphenol A Diglycidyl Ether (DGEBA)
    • Epoxy Phenol Novolac (EPN)
  • Flame Retardant Vinyl Ester Resins
  • Others
• By Application
  • Pipes & Tanks
  • Paints & Coatings
  • Transportation
  • Pulp & Paper
  • Others

Request for Customization @ https://www.consegicbusinessintelligence.com/request-customization/1114 

Frequently Asked Questions in the Vinyl Ester Resins Market Report

• What was the market size of the vinyl ester resins industry in 2022?

- In 2022, the market size of vinyl ester resins was USD 913.02 million

• What will be the potential market valuation for the vinyl ester resins industry by 2030?

- In 2030, the market size of vinyl ester resins will be expected to reach USD 1,320.86 million.

• What are the key factors driving the growth of the vinyl ester resins market?

- Increasing demand for vinyl ester resin from pipes and tanks application is spurring the growth of the market.

• What is the dominating segment in the vinyl ester resins market by application?

- In 2022, the pipes and tanks segment accounted for the highest market share of 32.04% in the overall vinyl ester resins market.

• Based on current market trends and future predictions, which geographical region is a domination region in the Vinyl Ester Resins market?

- Asia Pacific accounted for the highest market share in the overall vinyl ester resins market.

Our Other Research Reports here:-

Global Bonding Wires Market Analysis & Industry Forecast To 2023 - 2030

Global Baby Diaper Machine Market Analysis & Industry Forecast To 2023 - 2030

Global 3D Time-of-Flight Image Sensor Market Analysis & Industry Forecast To 2023 - 2030

Global Superalloys Market Analysis & Industry Forecast To 2023 - 2030

Driving Efficiency and Innovation in the Oilfield Services Industry 2023-2030

About Consegic Business Intelligence Pvt Ltd.

Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.

Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.

Press Releases:- https://www.consegicbusinessintelligence.com/press-release/vinyl-ester-resins-market 

Contact:

Consegic Business intelligence Pvt Ltd.

Contact no.: (US) (505) 715-4344

Email: sales@consegicbusinessintelligence.com