Corrosion Resistance Resin Market

Global Corrosion Resistance Resin Market, By Type (Epoxy, Polyester, Polyurethane, and Vinyl Ester), By Application (Coatings and Composites), By End Use Industry (Marine, Automotive and Transportation, Oil and Gas, Infrastructure, and Heavy Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Trends, Analysis and Forecast Till 2029

PMI55219 | Polymers and Resins

Apr 2019 | 176 | PDF

Resin is highly viscous substance which is typically converted into polymers and obtained from plant such as pine, fern.  Corrosion resistant resin is formulated by using isophthalic and vinyl ester resins, which gives resistance to the chemicals, acids, moistures etc. Besides providing chemical resistance, these composites are designed in order to take high structural loads by making them ideally suited for infrastructure. Corrosion resistance resin prevents equipments, machineries, and infrastructures from getting damaged. That corrosion property of corrosion resistance resin is useful in chemical industry in the various parts such as heaters, pumps, boilers, and chimneys.  It is ideal in the manufacturing of tanks, pipes, vessels that contain acids, alkalis, fuels, water foodstuff.

Increasing demand for composite materials is a key factor driving growth of the global corrosion resistant resin market. In addition, increasing importance of the corrosion resistant resins owing to its corrosion resistant property is expected to propel the target market in the near future. Moreover, increasing research and development activities in corrosion resistance resin in order to make advanced products is another factor expected to propel growth of the global corrosion resistant resin market over the forecast period. However, increasing prices of raw materials of the corrosion resistant resins may hamper the growth of target market over the forecast period.

The global corrosion resistance market has been segmented on the basis of type, application, end user industry, and region.

On the basis of type corrosion resistance resin market is segmented into, epoxy, polyester, polyurethane, and vinyl ester. Epoxy resin type segment is anticipated to dominant in the global corrosion resistant resin market over the forecast period due to its corrosion resistance property and affordable cost. Based on the application the target market is segmented into coatings and composites.  The coatings application segment is expected to dominate the target market over the forecast period since coatings are most effective, durable, and cost-efficient. On the basis of end use industry, the corrosion resistant resin market is segmented into marine, automotive and transportation, oil and gas, infrastructure and heavy industries.  The oil and gas end user segment is expected to account for major revenue share in the global corrosion resistance resin market in the near future.

On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific expected to account major market share as compared to that of other regions in the near future owing to increasing industrialization, GDP growth, and demand for improved and modern infrastructure in the region. The Middle East & Africa market is anticipated to account for the moderate growth in the global corrosion resistance resin market over the forecast period.

Key players operating in the global corrosion resistance resin market includes Scott Bader Company Limited, Alpha Owens-Corning (AOC) LLC, Oiln Corporation, Ashland Global Holdings Inc., Sino Polymer New Materials Co. Ltd., Huntsman Corporation, Reichhold LLC 2, Aditya Birla Chemicals Ltd, Polynt S.p.A., and Hexion Inc.

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