Novolac vinyl ester market to grow at 6% CAGR till 2025

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Global Vinyl Ester Market to reach US1.7 bn by
2025 Global Market Insights Inc.
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Industry Overview

• Vinyl Ester Market to surpass USD 1.7 billion by
  2025 driven by extensive use of vinyl ester
  resins in the pipes tanks. Growth trends in the
  shipbuilding sector will support the vinyl ester
  market growth in the next seven years. The
  product has a higher resistance to corrosive
  environments and chemicals than the unsaturated
  polyesters. Thus, vinyl ester resins and vinyl
  ester blended with polyester have been
  extensively used in the marine applications for
  producing efficient water-resistant barrier for
  boat hulls and other parts. The increasing
  mega-ship building projects present brighter
  outlook for the product demand in marine
  applications.
• Vinyl ester market will have a range of
  applications in the wind energy sector by 2025.
  Wind energy has been an essential source of
  renewable energy. As per the WindEurope
  estimates, the wind power share in the EUs total
  installed power capacity has augmented to 18 in
  2017 from 6 in 2005. Wind energy has overtaken
  coal as the second largest form of power
  generation capacity in the EU in 2016. An upward
  trend in wind energy industry will encourage the
  overall market during the forecast span.

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• As compared to polyester, vinyl ester resins
  excel on various parameters for instance, higher
  durability, superior heat resistance, low
  maintenance and high performance for extremely
  challenging environment. However, the overall
  market growth will be subjected to some restrains
  including high cost of production, lower shelf
  life of the product and regulations to lessen the
  VOC content of product, in the coming years.
• Novolac based product involves higher
  crosslinking density as compared to bisphenol A
  based resins. With this feature, the resin
  exhibits superior resistance to liquid
  environment and provides high resistance to
  penetration of chemicals into the matrix. Novolac
  vinyl ester segment is estimated to grow with a
  CAGR above 6 during the forecast span.
• The pipes tanks was the largest area of
  applications in vinyl ester market in year 2017,
  with a share over 40. The product has been
  highly demanded in high temperature formulations,
  including chemical reactors and storage vessels.
  The product has also been used as topcoats for
  metal containers and in electro-refining tanks.
  The rising demand from corrosion-resistant pipes
  tanks is projected to drive global market
  during the forecast span.

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U.S. vinyl ester market size, by application,
2014 2025 (USD Million)

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Industry Coverage

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• Asia Pacific led the overall vinyl ester market
  in 2017 and is expected to follow the similar
  trend by 2025. North America will observe growth
  with a CAGR close to 6. Increasing disposable
  income on existing rich class individuals and
  increasing number of High Net Worth Individual
  (HNWI) will positively influence the demand for
  luxury goods in the region. Moreover, the
  recreational boating culture in the North
  American region is comparatively high which, in
  turn will drive the market demand for these
  marine applications in the region by 2025.
• Leading manufacturers in market have been
  Swancor Holding, Ashland, Sino Polymer Co., Ltd.,
  ALIANCYS AG, Showa Denko, Interplastic
  Corporation, etc. The industry has marked several
  price hikes in the recent decade on account of
  increase in the raw materials costs. For
  instance, AOC Aliancys declared a price hike of
  EUR 100 (or USD 113.98) per ton for its product
  range sold in Europe, India and The Middle East
  which was effective from September 2018.

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