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Vinyl Ester Market By Product Type (Bisphenol A, Elastomers, Novolac, Brominated Fire Retardant), By End-Use Industry (Pipes & Tanks, Marine, Building & Construction, Land Transportation, FGD & Precipitators, Aerospace & Defense, Wind Energy) – Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

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Industry Outlook

The vinyl ester market is expected to reach US$ 1312.8 million by 2026, growing at a 5.6 percent CAGR from 2018 to 2026. In 2017, Asia Pacific led the vinyl ester market. It is also estimated to be the fastest-growing region between 2018 and 2026.

Vinyl esters are high-performance unsaturated resins that are basically produced through the esterification process of an epoxy resin combined with a monocarboxylic acid. It is strengthened by the addition of epoxy resins and is designed specifically because it is a hybrid form of polyester resin. However, vinyl ester resins have superior physical properties and remarkable corrosion resistance compared to conventional polyester resins. In addition, it also possesses high thermal stability and has the capacity to absorb large impacts without damage. Vinyl ester is used in various applications that include construction, pipes and tanks, transportation, and the paint and coatings industries, among others. Hence, it is considered a preferred material over various other materials. In addition, vinyl ester oligomers form an important matrix resin for thermosetting polymer composites when diluted with styrene. Vinyl ester resins are also compatible with carbon fiber, aramid fiber, and glass fiber. In addition, these are also used for yachts, chemical-resistant plastic tanks, and the production of wind turbines.

Trends show that with the increase in environmental regulations and concerns over hazardous emissions, demand for flue gas desulfurization (FGD) installation is expected to rise, which in turn is expected to boost market demand. Vinyl ester resins mainly find application in the FGD process, which includes stack liners and limestone slurry piping. These resins can be effectively used in flake glass lining systems, followed by retrofit and new FGD applications. In addition, the growing demand for corrosion-resistant materials is also expected to augment market growth during the forecast period. Increasing demand in various end-user industries that include tanks, pipes, wastewater treatment, and chemicals, followed by increasing investments in infrastructure, is also catapulting market growth. Vinyl ester resins offer more benefits than epoxies and are considered stronger than polyesters, which in turn makes them preferable over similar products. Moreover, vinyl ester resins are also economical compared to polyester and epoxies. However, the easy availability of substitutes, followed by a low shelf life, is expected to hamper the growth of this market during the forecast period. Strict government regulations to reduce the VOC content of these resins are also expected to restrain the market growth. In addition, the growing number of wind turbine installations worldwide, followed by increasing applications of vinyl ester in mass transit buses and railways, presents an opportunity in the global vinyl ester market during the forecast period.

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Synopsis of Market Value and Volume (US$ Mn) (Tons)

Bisphenol A is propelling the vinyl ester market forward.

Currently, Bisphenol A is one of the leading product types, both by volume and value, and is expected to maintain its dominance with the highest CAGR during the forecast period. It mainly finds application in spray-up, hand lay-up, filament winding, pultrusion processes, and SMC, where resistance to heat and chemical reactions followed by mechanical properties are required. As a result, various chemical resistance properties of Bisphenol A at a low cost, followed by mechanical properties, are expected to boost segment demand over the forecast period. In addition, owing to the corrosion resistance property of Bisphenol A, it also finds application in FGD processes, which is expected to spike the market demand for this segment. Bisphenol-A vinyl ester resins are also used in the marine industry as gel coats, barrier coats, and in various composite body parts of ships. In addition, the toughness followed by superior elongation properties of Bisphenol A provides fiber-reinforced plastic (FRP) equipment with less cracking and better impact resistance.

Manufacturers are also focusing on new product development as a key strategy to expand their Bisphenol A product portfolio to cater to the increasing demand for this segment during the forecast period. For example, in March 2017, AOC, based in the U.S., launched the Vipel F013 Series under its Bisphenol A vinyl ester product portfolio. This new product is basically suitable for various moldings that are subjected to dynamic loads or high static applications, which include flooring, tanks, pipes, and ductwork, among others. However, the Novolac product type segment is expected to be the fastest growing segment during the forecast period owing to its rising applications that mainly require good resistance to heat, oxidizing acids, and superior solvent resistance.

Pipes and tanks were identified as the dominant end-use industry segment in 2017.

The pipes and tanks segment dominated the global market owing to its increasing applications in high-temperature formulations such as chemical reactors and chemical storage vessels. In addition, it also finds application in topcoats used for metal containers and electrorefining tanks. Companies are continuously focusing on developing new products for pipe and tank applications with the objective of expanding their product portfolio. For example, with the addition of Vipul L085-PPA, AOC, based in the U.S., expanded its cured-in-place pipe (CIPP) resin product portfolio. This product is mainly designed for applications that need resistance to high heat and aggressive chemical solutions. In addition, this new product also aims to provide durability, corrosion resistance, and toughness in various formulation packages that are designed for CIPP processing. In addition, Chemco International Ltd., based in the U.K., deals with various products, such as Chem-glass 200 Series, that are basically designed for tank lining solutions. This product deals with conductive putties, laminating, primers, topcoats, and other specialist applications. Other factors driving demand in this segment during the forecast period include rising demand for corrosion-resistant and lightweight pipe and tank products in various infrastructure rehabilitation projects.

Asia Pacific is the largest region in the global vinyl ester market.

Asia-Pacific is projected to witness the fastest growth as well as hold the largest market share both in terms of value and volume during the forecast period from 2018 to 2026. Increasing investment in construction, industrial, and building projects, followed by growing demand for corrosion-resistant pipes and tanks, are the main factors augmenting the growth of this market in the Asia Pacific region. Japan, India, and China are the major countries owing to the increasing investment in the wind energy and oil and gas sectors. In addition, increasing demand for FGD systems in this region owing to the various environmental regulations on harmful emissions has resulted in increasing demand for vinyl ester linings, thereby protecting these systems from corrosion. North America followed Asia-Pacific in the global vinyl ester market. The U.S. held the largest market share in this region both in terms of value and volume, and the growth of this market is mainly attributed to the increasing demand for vinyl ester in the marine industry in this region. In addition, vinyl ester mainly prevents water entry into yachts and ships, and since there has been increasing production of yachts and ships in the North American region, the market for it is expected to grow during the forecast period.

The key strategies adopted by the key players are business expansion, followed by mergers and acquisitions.

Key notable players operating in the global vinyl ester market include Ashland Inc., Reichhold, Swancor Holding, Showa Denko, Aliancys, Interplastic Corporation, Sino Polymer Co., AOC, Polynt, and Scott Bader Company, among others. In August 2015, Ashland Performance Materials announced that it had nominated GRP Solutions Ltd. as a distributor of its products in Ireland and the U.K. The distribution agreement aims at expanding the products of Ashland Performance Materials in the U.K. and Ireland to cater to the growing demand for vinyl ester in these countries. The various products included under the distribution agreement include epoxy vinyl ester resins, polyester resins, and gel coats, among others. In May 2017, Polynt and Reichhold merged to form Polynt-Reichhold. This merger was aimed at expanding the vinyl ester product portfolio across North America, Europe, and Asia, thereby making it the world’s second-largest player in this market.

Historical & Forecast Period

Historical Year: 2016

Base Year: 2017

Forecast Period: 2018–2026

This research considers 2017 as the base year and presents an analysis of segments from 2016 to 2026. In addition, the forecast period from 2018 to 2026 is considered for the compound annual growth rate (CAGR) calculation for each respective segment.

Report Scope by Segments

The vinyl ester market report represents an understanding of the current market dynamics and strategies. It also focuses on a quantitative and qualitative analysis of the overall market. The report covers the global vinyl ester market by categorizing it in terms of product type, end-use industry, and geography. Publishing this broad research report aims to aid vinyl ester market stakeholders and professionals in making strategic decisions and initiatives in the vinyl ester market.

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Product Type Segment (Tons, US$ Mn) (2016-2026)

  • Elastomers
  • Novolac
  • Bisphenol A
  • Brominated Fire Retardant

End-use Industry Segment (tonnes, US$ Mn) (2016-2026)

  • Marine
  • Pipes and Tanks
  • Building and Construction
  • Land Transportation
  • FGD and Precipitators
  • Aerospace & Defense
  • Wind Energy

Geography Segment (2016-2026; Tons, US Dollar Millions)

  • North America
    • U.S.
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • Italy
    • Rest of Europe
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Rest of APAC
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East and Africa (MEA)
    • GCC
    • the remainder of MEA

Chapter 1 Preface 12
1.1 Report Scope and Description 12
1.1.1 Study Purpose 12
1.1.2 Target Audience 12
1.1.3 USP and Key Offerings 12
1.2 Research Scope 13
1.3 Research Methodology 14
1.3.1 Phase I – Secondary Research 14
1.3.2 Phase II – Primary Research 15
1.3.3 Phase III – Expert Panel Review 15
1.3.4 Approach Adopted 15
1.3.5 Top-Down Approach 16
1.3.6 Bottom-Up Approach 16
1.3.7 Assumptions 17
1.4 Market Segmentation 17

Chapter 2 Executive Summary 18
2.1 Market Snapshot: Global Vinyl Ester Market 19
2.1.1 Global Vinyl Ester Market, by Product Type, 2017 (Tons) (US$ Mn) 20
2.1.2 Global Vinyl Ester Market, by End-use Industry, 2017 (Tons) (US$ Mn) 21
2.1.3 Global Vinyl Ester Market, by Geography, 2017 (Tons) (US$ Mn) 21

Chapter 3 Market Dynamics 22
3.1 Introduction 22
3.2 Market Dynamics 23
3.2.1 Market Drivers 23
3.2.1.1 Rise in demand for flue gas desulfurization (FGD) 23
3.2.1.2 Driver 2 24
3.2.2 Market Restraints 25
3.2.2.1 Low Shelf Life 25
3.2.2.2 Restraint 2 26
3.2.3 Market Opportunities 27
3.2.3.1 Growth Number of Wind Turbine Installations 27
3.2.3.2 Opportunity 2 28
3.3 Attractive Investment Proposition, by Geography, 2017 29
3.4 Market Positioning of Key Players, 2017 30

Chapter 4 Global Vinyl Ester Market, by Product Type 31
4.1 Overview 31
4.1.1 Global Vinyl Ester Market Value Share, by Product Type, 2017 & 2026 (Value, %) 32
4.1.2 Global Vinyl Ester Market, by Product Type, 2016 – 2026 (Tons) (US$ Mn) 32
4.2 Bisphenol A 33
4.2.1 Global Bisphenol A Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 34
4.3 Elastomers 35
4.3.1 Global Elastomers Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 35
4.4 Novolac 36
4.4.1 Global Novolac Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 36
4.5 Brominated Fire Retardant 37
4.5.1 Global Brominated Fire Retardant Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 37

Chapter 5 Global Vinyl Ester Market, by End-use Industry 38
5.1 Overview 38
5.1.1 Global Vinyl Ester Market Value Share, by End-use Industry, 2017 & 2026 (Value, %) 39
5.1.2 Global Vinyl Ester Market, by End-use Industry, 2016 – 2026 (Tons) (US$ Mn) 39
5.2 Pipes & Tanks 40
5.2.1 Global Vinyl Ester Market, by Pipes & Tanks, 2016 – 2026 (Tons) (US$ Mn) 41
5.3 Marine 42
5.3.1 Global Vinyl Ester Market, by Marine, 2016 – 2026 (Tons) (US$ Mn) 42
5.4 Building & Construction 43
5.4.1 Global Vinyl Ester Market, by Building & Construction, 2016 – 2026 (Tons) (US$ Mn) 43
5.5 Land Transportation 44
5.5.1 Global Vinyl Ester Market, by Land Transportation, 2016 – 2026 (Tons) (US$ Mn) 44
5.6 FGD & Precipitators 45
5.6.1 Global Vinyl Ester Market, by FGD & Precipitators, 2016 – 2026 (Tons) (US$ Mn) 45
5.7 Aerospace & Defense 46
5.7.1 Global Vinyl Ester Market, by Aerospace & Defence, 2016 – 2026 (Tons) (US$ Mn) 46
5.8 Wind Energy 47
5.8.1 Global Vinyl Ester Market, by Wind Energy, 2016 – 2026 (Tons) (US$ Mn) 47

Chapter 6 Global Vinyl Ester Market, by Geography 48
6.1 Overview 48
6.1.1 Global Vinyl Ester Market Value Share, by Geography, 2017 & 2026 (Value %) 49
6.1.2 Global Vinyl Ester Market, by Geography 2016 – 2026 (Tons) (US$ Mn) 49
6.2 North America 50
6.2.1 North America Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) (US$ Mn) 51
6.2.2 North America Vinyl Ester Market, by End-use Industry, 2016 – 2026 (Tons) (US$ Mn) 52
6.2.3 North America Vinyl Ester Market, by Country (Tons) (US$ Mn) 53
6.3 Europe 54
6.3.1 Europe Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) (US$ Mn) 54
6.3.2 Europe Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) (US$ Mn) 56
6.3.3 Europe Vinyl Ester Market, by Country (Tons) (US$ Mn) 57
6.4 Asia Pacific 57
6.4.1 Asia Pacific Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) (US$ Mn) 58
6.4.2 Asia Pacific Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) (US$ Mn) 59
6.4.3 Asia Pacific Vinyl Ester Market, by Country (Tons) (US$ Mn) 60
6.5 Latin America 60
6.5.1 Latin America Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) (US$ Mn) 61
6.5.2 Latin America Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) (US$ Mn) 62
6.5.3 Latin America Vinyl Ester Market, by Country (Tons) (US$ Mn) 63
6.6 Middle East & Africa 63
6.6.1 Middle East & Africa Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) (US$ Mn) 64
6.6.2 Middle East & Africa Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) (US$ Mn) 65
6.6.3 Middle East & Africa Vinyl Ester Market, by Region (Tons) (US$ Mn) 66

Chapter 7 Company Profiles 67
7.1 Ashland Global Holdings Inc. 67
7.2 Reichhold 69
7.3 Swancor Holding 70
7.4 Showa Denko 71
7.5 Aliancys 72
7.6 Interplastic Corporation 73
7.7 Sino Polymer Co. 74
7.8 AOC 75
7.9 Polynt 76
7.10 Scott Bader Company 77
7.11 DIC Material 78

 

List of Figures

FIG. 1 Global Vinyl Ester Market: Research Methodology 14
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach 16
FIG. 3 Global Vinyl Ester Market Segmentation 17
FIG. 4 Global Vinyl Ester Market, by Product Type, 2017 (Tons) (US$ Mn) 20
FIG. 5 Global Vinyl Ester Market, by End-use Industry, 2017 (Tons) (US$ Mn) 21
FIG. 6 Global Vinyl Ester Market, by Geography, 2017 (Tons) (US$ Mn) 21
FIG. 7 Attractive Investment Proposition, by Geography, 2017 29
FIG. 8 Global Market Positioning of Key Vinyl Ester Manufacturers, 2017 30
FIG. 9 Global Vinyl Ester Market Value Share, by Product Type, 2017 & 2026 (Value, %) 32
FIG. 10 Global Bisphenol A Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 34
FIG. 11 Global Elastomers Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 35
FIG. 12 Global Novolac Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 36
FIG. 13 Global Brominated Fire Retardant Vinyl Ester Market, 2016 – 2026 (Tons) (US$ Mn) 37
FIG. 14 Global Vinyl Ester Market Value Share, by End-use Industry, 2017 & 2026 (Value, %) 39
FIG. 15 Global Vinyl Ester Market, by Pipes & Tanks, 2016 – 2026 (Tons) (US$ Mn) 41
FIG. 16 Global Vinyl Ester Market, by Marine, 2016 – 2026 (Tons) (US$ Mn) 42
FIG. 17 Global Vinyl Ester Market, by Building & Construction, 2016 – 2026 (Tons) (US$ Mn) 43
FIG. 18 Global Vinyl Ester Market, by Land Transportation, 2016 – 2026 (Tons) (US$ Mn) 44
FIG. 19 Global Vinyl Ester Market, by FGD & Precipitators, 2016 – 2026 (Tons) (US$ Mn) 45
FIG. 20 Global Vinyl Ester Market, by Aerospace & Defence, 2016 – 2026 (Tons) (US$ Mn) 46
FIG. 21 Global Vinyl Ester Market, by Wind Energy, 2016 – 2026 (Tons) (US$ Mn) 47
FIG. 22 Global Vinyl Ester Market Value Share, by Geography, 2017 & 2026 (Value %) 49

List of Tables

TABLE 1 Market Snapshot: Global Vinyl Ester Market Volume 19
TABLE 2 Market Snapshot: Global Vinyl Ester Market Value 19
TABLE 3 Global Vinyl Ester Market, by Product Type, 2016 – 2026 (Tons) 32
TABLE 4 Global Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 33
TABLE 5 Global Vinyl Ester Market, by Product Type, 2016 – 2026 (Tons) 39
TABLE 6 Global Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 40
TABLE 7 Global Vinyl Ester Market, by Geography 2016 – 2026 (Tons) 49
TABLE 8 Global Vinyl Ester Market, by Geography 2016 – 2026 (US$ Mn) 50
TABLE 9 North America Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) 51
TABLE 10 North America Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 51
TABLE 11 North America Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) 52
TABLE 12 North America Vinyl Ester Market, by End-use Industry 2016 – 2026 (US$ Mn) 52
TABLE 13 North America Vinyl Ester Market, by Country 2016 – 2026 (Tons) 53
TABLE 14 North America Vinyl Ester Market, by Country 2016 – 2026 (US$ Mn) 53
TABLE 15 Europe Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) 54
TABLE 16 Europe Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 55
TABLE 17 Europe Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) 56
TABLE 18 Europe Vinyl Ester Market, by End-use Industry 2016 – 2026 (US$ Mn) 56
TABLE 19 Europe Vinyl Ester Market, by Country 2016 – 2026 (Tons) 57
TABLE 20 Europe Vinyl Ester Market, by Country 2016 – 2026 (US$ Mn) 57
TABLE 21 Asia Pacific Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) 58
TABLE 22 Asia Pacific Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 58
TABLE 23 Asia Pacific Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) 59
TABLE 24 Asia Pacific Vinyl Ester Market, by End-use Industry 2016 – 2026 (US$ Mn) 59
TABLE 25 Asia Pacific Vinyl Ester Market, by Country 2016 – 2026 (Tons) 60
TABLE 26 Asia Pacific Vinyl Ester Market, by Country 2016 – 2026 (US$ Mn) 60
TABLE 27 Latin America Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) 61
TABLE 28 Latin America Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 61
TABLE 29 Latin America Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) 62
TABLE 30 Latin America Vinyl Ester Market, by End-use Industry 2016 – 2026 (US$ Mn) 62
TABLE 31 Latin America Vinyl Ester Market, by Country 2016 – 2026 (Tons) 63
TABLE 32 Latin America Vinyl Ester Market, by Country 2016 – 2026 (US$ Mn) 63
TABLE 33 Middle East & Africa Vinyl Ester Market, by Product Type 2016 – 2026 (Tons) 64
TABLE 34 Middle East & Africa Vinyl Ester Market, by Product Type 2016 – 2026 (US$ Mn) 64
TABLE 35 Middle East & Africa Vinyl Ester Market, by End-use Industry 2016 – 2026 (Tons) 65
TABLE 36 Middle East & Africa Vinyl Ester Market, by End-use Industry 2016 – 2026 (US$ Mn) 65
TABLE 37 Middle East & Africa Vinyl Ester Market, by Region 2016 – 2026 (Tons) 66
TABLE 38 Middle East & Africa Vinyl Ester Market, by Region 2016 – 2026 (US$ Mn) 66
TABLE 39 Ashland Global Holdings Inc.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 67
TABLE 40 Reichhold: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 69
TABLE 41 Swancor Holding: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 70
TABLE 42 Showa Denko: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 71
TABLE 43 Aliancys: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 72
TABLE 44 Interplastic Corporation: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 73
TABLE 45 Sino Polymer Co.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 74
TABLE 46 AOC: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 75
TABLE 47 Polynt: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 76
TABLE 48 Scott Bader Company: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 77
TABLE 49 DIC Material: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 78

Frequently Asked Questions:

What is the size of Vinyl Ester Market?

The market for Vinyl Ester is expected to reach US$ 1312.8 Mn in 2026.

What is the Vinyl Ester Market CAGR?

The Vinyl Ester market is expected to see significant CAGR growth over the coming years,at 5.6%.

What is the Forecast period considered for Vinyl Ester Market?

The report is forecasted from 2018-2026.

What is the base year considered for Vinyl Ester Market?

The base year of this report is 2017.

Who are the major players in this Market?

Ashland Global Holdings Inc. 67,Reichhold 69,Swancor Holding 70,Showa Denko 71, Aliancys 72 are some of the major players in the global market.

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