ID: MRFR/CnM/3420-HCR | February 2021 | Region: Global | 140 pages
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.
The Vinyl ester is an ester that is separated from the Vinyl alcohol. These are been formed by the esterification reaction between the epoxy resin and the unsaturated monocarboxylic acid. The main feature of the Vinyl ester is that it can absorb the impact caused and can stay without any damage.
The usage of the Vinyl ester is higher because of its nature to higher strength, corrosion resistance can withstand water absorption and also low viscosity. Due to its thermal stability, it is used in construction, pipes, tanks, transportation, paint and coating industry. Though it has many beneficiaries uses due to the easy availability of the substitutes for the Vinyl ester that hinder the vinyl ester market growth.
Due to the spread of the pandemic across the globe, several impacts have been created due to the lack of transportation and lack of labour. During the pandemic time, there was a limited quantity of production and a limited supply of raw materials for manufacture. As the whole process of manufacturing is been interrupted by the spread of the pandemic the manufacturing companies are working hard to produce the output and also which has led to an increase in the cost of the raw materials.
The increase in the cost of the raw materials and the increase in the cost of the products and the delay in delivering the products to the consumers are some of the major negative impacts which are created by the outbreak of the pandemic. Due to the outbreak of the pandemic, there is a great impact on the vinyl ester market size.
The rise in the growth of the vinyl ester market is because of the growth in the demand for pipes and tanks. This demand for the pipes and tanks which is made of the Vinyl Ester is because of its improved strength and chemical resistance which is needed to extend the durability of the pipes and tanks. Then this also has exceptional adhesion, fatigue resistance, impact strength, low shrinkage and chemical resistance which increases the durability in the long term.
The use of the Vinyl Ester in the railways, mass transit buses, marine industry and also in wind turbines are also the driving factors for the growth of the vinyl ester market share.
The growth opportunity of the vinyl ester market share is because of the growth in the increase in the demand of the pipes and the tanks in the usage of the US marine industry, rise in the installation of the wind turbines in Europe. And also the increase in the demand of usage of the Vinyl Ester in the railways and the mass transit of the buses. It is expected that the Vinyl Ester is getting better growth in the forecast period because of the growth opportunities.
The main restraint that hinders the growth of the vinyl ester industry is the easy availability of the substitute things that are available in the market. Due to the low quality and low durability of the substitute products that are available in the market, people don’t get the proper awareness about the original and the duplicate which are the restraining factor that affects the market.
The challenge which is faced in the vinyl ester industry is the import and the export of the goods during the lockdown. Because of the lack of raw materials and lack of labour, delivering the goods was difficult. The late delivery of the goods to the customer due to the demand for transportation is also one of the challenges. Secondly, the increase in the demand for Vinyl ester products is one of the challenges. After the lockdown the increase in the demand for Vinyl ester products are tremendous, so the key players are working hard to compensate for the need of the customers.
Cumulative growth analysis
The overall growth of the vinyl ester market revenue has increased in recent days. After the spread of the pandemic, the demand was high. Because after the long gap, people started to get back to their work. Now there is an increase in the demand for Vinyl Ester products have raised. The increase in the need for pipes, tanks and paints are the major challenge of the key players. Even the use of the Vinyl Ester in the end-user like the oil and gas sector, refinery piping, crude oil transmission and subsea piping are the main source for the growth of the Vinyl Ester market.
Value chain analysis
The growth in the forecast period of the vinyl ester market has increased, due to the demand for Vinyl ester products in construction, and in various industries like transportation, wastewater treatment, pharmaceutical, food processing. These are the factors that create the demand for the growth of the vinyl ester market.
Market segment overview
By product type
In the product type segment, the brominated fire-retardant owns the largest amount of share because of its special features and also because of its low-cost effectiveness.
The demand for the pipes and the tanks have increased in recent days. It is also known that the growth of this segment is registered with a large amount in the forecasting period.
The Middle East and Africa
The key players are working to get the separate market value among the competitors. The major companies are working to increase their company's overview, company's financial states, revenue generation, initiatives which are taken for the introduction of the new product, company strength and the weakness. Their main focus is to compete with the other players by launching new products. By using all these development done to their company they are planning to get the special place and gain the trust of the consumers.
Global Vinyl Ester Market Share, by End-Use Industry 2016 (%):
The growth of the vinyl ester market value is been visible in regions that are Asia Pacific, North America, Europe etc.
North America is dominating region in the vinyl ester market, this is because of the countries like the US, Canada and Mexico. The US is the largest market that has well-designed end users like marine industries, construction sectors. The increase in the manufacture of yachts and ships are the main factor that leads the growth of the marine industry.
Europe is following North America, the main reason is because of the growth of the countries like UK, France, Germany and Italy. The main contributors that drive North America are the aerospace and automotive industry. These sectors are producing fibreglass which is the driving force for the country.
The Asia Pacific region is expected to reach growth in the forecasting period, this is because of the countries like China, Japan, India etc. The factor that increases the growth of the vinyl ester market value is the sectors like the wastewater treatment, chemical, pharmaceutical company etc. these are the main reason which acts as the driving force for the growth of the vinyl ester market.
|Market Size||2030: Significant value|
|CAGR||2022-2030: 4.20% CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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).|
|Key Market Opportunities||The heat weather resistant nature of Vinyl Ester is favoring the growth of its demand in wind energy sector.|
|Key Market Drivers||Increasing demand for petroleum products in oil & gas industry.|
Frequently Asked Questions (FAQ) :
Vinyl esters are more tolerant of stretching than polyesters.
Vinyl Ester is used as a resin and it is a hybrid form of polyester resin.
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)
The global vinyl ester composite market is segmented into pipes & tanks, marine, wind energy, oil & gas, aerospace, construction, and others.
Asia Pacific is the largest market owing to the growth of the oil & gas, and wind industry.