PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1559901
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1559901
The global vinyl ester market is projected to grow from USD 1.04 billion in 2024 to USD 1.29 billion by 2029, at a CAGR of 4.4% during the forecast period. The growing demand for Vinyl ester in composites market, coupled with increased research and development in vinyl ester, is one of the key driver that is boosting the vinyl ester market.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million), and Volume (Tons) |
Segments | Product Type, End-use Industry, and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
"Novolac segment, by type, is estimated to account for the second largest share during the forecast period"
The novolac segment is projected to secure the second largest share in the forecast period, primarily fueled by its extensive application in the marine industries. Novolac vinyl ester play a crucial role in marine & automotive industry. The segment's significance is further underscored by the increasing demand for novolac vinyl ester in diverse sectors, including infrastructure, automotive and chemical processing sector. This broader utilization is expected to contribute to the sustained growth of the novolac segment in the vinyl ester market.
"By end-use, marine industry is accounted for the second largest share during the forecast period"
Marine industry are well-known for hull construction and structural components. They're also widely used in corrosion protection and the automotive industry. Notably, they features an light weight, corrosion resistant, and high performance materials. The anticipated surge in demand for vinyl ester is fueled by their high durability and chemical resistant characteristics. Their lightweight design and corrosion resistant make them ideal for various applications including hull construction and structural components, providing a more efficient and sustainable marine solutions. Therefore, the lightweight and high durability characteristics of vinyl ester are expected to drive the vinyl ester market.
"North America region is estimated to account for the second largest share during the forecast period"
North America is expected to be the second-largest market for vinyl ester. US is among the key player in the region, which is driven by pipes & tanks and marine industry, with a rise in the demand for composite materials. As a major contributor to the pipes & tanks industry, US emerges as a favorable market for various composites, particularly those using vinyl ester. Additionally, the ongoing transition to sustainable sources in the country is expected to boost the market further, contributing to the overall growth of the North American vinyl ester market.
INEOS Composites (US), Polynt S.p.A. (Italy), AOC (US), Interplastic Corporation (US), and SWANCOR (Taiwan) are some of the major players operating in the Vinyl ester market. These players have adopted strategies such as acquisitions, partnerships, and expansions in order to increase their market share business revenue.
The report defines, segments, and projects the vinyl ester market based on product type, end-use, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, vinyl ester manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, partnerships, agreements, and acquisitions, undertaken by them in the market.
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the vinyl ester market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.