The Global Aerospace & Defense Market was 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. Wind Energy is being adopted as an important source of green energy by many developing countries. In recent times, the trend is followed by developing countries as well owing to increasing environmental concerns. The heat weather resistant nature of Vinyl Ester is favoring the growth of its demand in wind energy sector. The global composite market is estimated to reach higher growth rate during the forecast period on account of the growing demand from major end-use industries. This, in turn, is anticipated to help push the growth of the Global Vinyl Ester Market. Major players manufacturing the product are heavily investing in production of vinyl ester to meet increasing demand from pipes & storage tanks industries to ensure safer storage of volatile and explosive chemicals. However, the cost-intensive nature of vinyl ester composite may pose as a declining factor in the growth of its global market. As vinyl ester is more expensive than its polyester and Vinyl Ester-based counterparts.
Vinyl Ester is used as a resin and it is a hybrid form of polyester resin. Polyester resin is strengthened by the addition of epoxy resin. These resins are resistant to much more chemically and thermally aggressive environments and withstand water absorption. Furthermore, Vinyl Ester has high resistance to vibrational forces. Vinyl Ester finds their major applications in oil & gas, wherein there are a need for corrosion resistant, heat resistant and vibration resistant materials. Vinyl Ester is used for lining flue gas desulphurization. The chemical and thermal resistance characteristics of Vinyl Ester resin is higher than the traditional materials such as polyester resin, which makes them applicable in pipes and tanks, blades of a wind turbine, and yacht manufacturing. Apart from this, Vinyl Ester further enhances the advantages of resins for corrosion resistant applications and demonstrates the manufacturing and labor savings of using composites to replace other materials.
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Some of the prominent players in the Global Vinyl Ester Market are 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 Market is segmented on the basis of Product Type, End-Use Industry and Region.
Based on the Product Type, the market is divided 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 into pipes & tanks, marine, wind energy, oil & gas, aerospace, construction, and others.
Geographically, the market is divided into five key regions namely Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
The Global Vinyl Ester Market is consist of five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the largest market owing to the growth of the oil & gas, and wind industry. India, Japan, and China are the major countries in this region owing to the increasing investment in oil & gas and wind energy sectors.
North America is a substantial region in the Global Vinyl Ester Market, after Asia Pacific. 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 is projected to lead the marine industry. Since vinyl ester prevents the entry of water into the ships and yachts. This, in turn, is expected favor vinyl ester composite market in this region.
Europe is following North America in the Global Vinyl Ester Market. Major contributors to the regional market in this region are the U.K, France, Germany, and Italy. The aerospace and automotive industries in Europe are the major consumers of vinyl ester, it is used in the manufacturing of reinforced fiberglass in this region, which is driving the growth of the regional market. Latin America is witnessing a steady growth in countries namely Brazil and Argentina. The marine industry in Brazil is estimated to gain a substantial momentum during the forecast period to push the growth of the regional Vinyl Ester Market. In the coming years, the opportunities for Vinyl Ester material are expected grow in the Middle East & Africa due to rising end-use industries namely building & construction; Vinyl Ester is used in the manufacturing of roof laminate, door surrounds, over-door canopies, window canopies and dormers, and chimneys.
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