Vinyl Ester Market will surpass USD 1.7 billion by 2025; according to a new research report. Vinyl esters provide resistance to various acids, alkalis, organic compounds, bleaches, etc. and have become a choice of material in various industry applications in the recent years. Processing wood to paper involves highly corrosive chemicals and requires specially designed processing equipment to withstand harsh chemical environments. Pulp & paper industry is expected to have a strong demand for vinyl ester based fiber-reinforced plastic equipment in coming years. Vinyl ester resist corrosive chemicals and will serve as a superior alternative to conventional metals and coatings for the process fluid surroundings in pulp & paper sector by 2025.
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With fiberglass fortification, vinyl esters have been fabricated into lightweight and corrosion-resistant piping, tanks, ductwork, hoods, scrubbers, etc. In addition to these characteristics, vinyl esters solutions cost less than stainless steel as well as exotic alloys in pipes & tanks applications. Unlike metals, the product is unaffected by crevice corrosion or chloride stress and are resistant to pH extremes at both ambient and elevated temperatures. Vinyl ester market will observe substantial growth in pipes & tanks applications for instance, fabrication of fiber-reinforced plastic storage tanks, ducts, vessels, on-site maintenance projects, etc. during forecast years.
The overall industry was led by bisphenol A vinyl esters in 2017 and will continue the similar trend. With crosslinking density higher than bisphenol A variant, Novolac type vinyl esters show better resistance towards liquid environment. Novolac segment will observe growth with CAGR more than 6% in the next seven years.
In 2017, pipes & tanks accounted for highest share more than 40% in vinyl ester market. The product will mark a steady demand for its use in electro-refining tanks, in the topcoats for the metal containers, in chemical reactors and storage vessels. The escalating demand for corrosion resistant pipes & tanks will bolster market during the forecast years.
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The escalations in wind energy sector will support the vinyl ester market growth in coming years. As per a 2017 publication by WindEurope, Europe marked a surge of 25% in wind power capacity annual installations in contrast to the same in year 2016. Wind energy was observed to be the second largest form of power generation in Europe, surpassing coal, in 2GR by 2025.
Emergence of South Korea and China as leading forces in shipbuilding sector will be a significant factor encouraging demand for vinyl ester in marine applications by 2025. North America is projected to have gains up to CAGR 6% during the forecast years. Growth aspects from regional oil & gas industry, construction sector and recreational boating culture will have strong potential for vinyl ester market by 2025.
Key industry players in vinyl ester market consist of: Swancor Holding, Showa Denko, Sino Polymer Co., Ltd., Ashland, Interplastic Corporation, ALIANCYS AG, etc. Upsurge in raw material costs are likely to result in product price hikes, thereby depicting a highly competitive scenario in the future years.
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