Ocean View, DE -- (SBWire) -- 06/17/2020 --According to a research report by Global Market Insights, Inc., Vinyl Ester Market size is projected to exceed USD 1.7 billion by 2025.Vinyl ester market is projected to witness significant growth during the forecast period, owing to its indiscriminate deployment across several industries for dealing with harsh chemicals such as acids, alkalis, bleaches, etc. The product offers high resistance to these corrosive chemicals used in several industry verticals.
Conversion of wood to pulp and then to paper involves utilization of highly corrosive chemicals, requiring specially designed processing equipment to resist corrosion from harsh chemical environments. Seeking high equipment cost, the corrosions caused by these chemicals are inevitable and leads to high monetary losses. For this, the pulp & paper industry players are focusing on using vinyl ester based fiber-reinforced plastic equipment in the upcoming years, which will be superior alternatives to conventional metal casted equipment.
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Rapid expansion of shipbuilding sector will positively support vinyl ester market growth in the upcoming future, owing to high demand for several vessels such as tankers, bulkers and mid-range ships and boats. The shipbuilding industry will look to incentivize the anti-corrosion nature of the product. Vinyl ester resins find widespread utilization in marine applications for manufacturing waterproof barriers for boat hulls and other vulnerable components. Surging global trade, coupled with increasing demand for mega-ships is likely to encourage product penetration across the marine applications, thus accelerating vinyl ester market trends.
Growing shift toward renewable energy generation coupled with favorable wind speeds at the ocean coasts has been fostering the deployment of offshore wind farms. These energy generation establishments are constantly exposed to the corrosive ocean water, which will fuel the acceptance of Vinyl ester resins in order to offer protection to the structures and components immersed in the water.
The robust development of wind energy sector is anticipated to positively impact the vinyl ester market share in coming years. For instance, as per WindEurope, wind power capacity annual installations witnessed a significant rise of 25% during 2016-2017.
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With rising innovations in the fiberglass technology, fiberglass fortified vinyl esters can be used to fabricate or construct corrosion resistant piping, tanks, hoods, ductworks, effective scrubbers, etc. In addition, these equipment and materials also offer other benefits of being lightweight and cost efficient as compared to metals counterparts. Inverse to the metals, the product offers great resistance to underlying issues of crevice corrosion and can sustain pH extremes in varied temperatures.
In 2017, the pipes & tanks application accounted for over 40% of vinyl ester market share. The growth can be credited to immense product demand for storing and processing chemical formulations at high temperatures. Moreover, the product is also used for coating metal containers pertaining to its chemical resistivity which increases the life of electro-refining tanks. Escalating demand for corrosion-resistant pipes & tanks owing to extensive chemical usage in processing raw materials will drive vinyl ester market demand over the projected timeframe.
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Vinyl Ester Market 2025 : Swancor Holding, Mechemco, Nivitex, ALIANCYS AG, Polynt-Reichhold Group, Ashland, Interplastic Corporation
Rapid expansion of shipbuilding sector will positively support vinyl ester market growth in the upcoming future, owing to high demand for several vessels such as tankers, bulkers and mid-range ships and boats. The shipbuilding industry will look to incentivize the anti-corrosion nature of the product.