Vinyl Ester Market
Ashland Global Holdings Inc. (U.S.), Interplastic Corporation (U.S.), Reinhold GmbH (Germany), Sino Polymer New Materials Co., Ltd. (China), Swancor Holding Co., Ltd. (China), AOC, LLC (U.S.), Showa Denko K.K. (Japan), Polynt S.p.A. (Italy), Scott Bader Company Ltd. (U.K), and allnex group (Germany). These are the Key players for Vinyl Ester Market.
Market Overview
Vinyl Ester is a hybrid form of polyester resin which is used in the oil and gas industry. These compounds are strengthened by the addition of epoxy resin. These resins are chemical and thermal resistant and prevent water absorption as well it prevents corrosion. Furthermore, vinyl ester has high resistance to vibrational forces. Moreover, increasing application of vinyl ester in lining flue gas desulphurization add fuel to the growth of the market. Owing to the chemical and thermal resistance characteristics of vinyl ester resin, it is used in the manufacturing of pipes and tanks, blades of a wind turbine, and yacht manufacturing. The global aerospace & defense market is growing at highest CAGR on account of increasing demand for petroleum products in oil & gas industry. This is expected to continue throughout the forecast period to propel the growth of the global vinyl ester market. Additionally, they are free from volatile organic compounds (VOC’s). However, high cost may slow the growth of the global market. It further reduces the maintenance cost using composites to replace other materials. Growing adoption of wind energy is being adopted as an important source of green energy by many developing countries, which is likely to boost the market growth over the review period.
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Market Segmentation
The global vinyl ester market is segmented on the basis of product type, end use industry, and region. Based on the fiber type, the market is segmented into bisphenol a, brominated vinyl ester, vinyl ester modified, and others. On the basis of the end use industry the global vinyl ester composite market is segmented onto pipes & tanks, marine, wind energy, oil & gas, aerospace, construction, and others. Geographically, the markets is divided into five key regions namely Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
Competitive Analysis
Key Players For Vinyl Ester Market:
- Ashland Global Holdings Inc.(U.S.)
- Interplastic Corporation(U.S.)
- Reinhold GmbH(Germany)
- Sino Polymer New Materials Co.Ltd.(China)
- Swancor Holding Co.Ltd.(China)
- AOC LLC(U.S.)
- Showa Denko K.K.(Japan)
- Polynt S.p.A.(Italy)
- Scott Bader Company Ltd.(U.K)
- Allnex group (Germany)
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Regional Analysis
Asia Pacific is the largest market owing to the growth of the oil & gas and wind industry. India, Japan and China are the major markets in this region on accounts of an increasing investment in oil & gas and wind energy sectors. The U.S. is the largest market in this region owing to the presence of well-established end use industries such as the marine industry. Increasing production of yachts and ships drive the growth of the marine industry in this region. Since vinyl ester is more resistant to water degradation, it prevent the entry of water into the ships and yachts. This, in turn, is expected favor the demand for vinyl ester composite in this region. The U.K, France, Germany, and Italy are major contributor to the market growth. The aerospace and automotive industries in Europe are the major consumers of vinyl ester, which is used in the manufacturing of reinforced fiber glass in this region. Latin America is witnessing a steady growth in countries namely Brazil and Argentina.
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