Vinyl Ester Market: By Type, Epoxy Novolac Vinylester, Tetrabromo Bisphenol-A, Brominated Fire-Resistant, Rubber-Modified, and Others), By Application, and Geography
Vinyl Ester Market size was valued at US$ 1,243.8 Million in 2023 and is poised to grow at a CAGR of 5.3% from 2024-2030. Vinyl ester, a thermosetting polymer, is a kind of resin that is widely utilised in a variety of sectors due to its high corrosion resistance, excellent impact and stress-fatigue resistance, high mechanical strength, great chemical resistance, and exceptional adhesive qualities. It is a combination between polyester resin and epoxy resin which brings together the greatest qualities of both materials. Vinyl ester resins are used in corrosion-resistant equipment, tanks, pipelines, structural components and others. The vinyl ester market has witnessed significant growth in recent years primarily due to the increasing demand for corrosion–resistant materials in industries such as chemical processing, oil and gas, and wastewater treatment, which offer excellent resistance to various chemicals and harsh environments. Moreover, as the chemical processing industries continue to expand, the demand for vinyl ester resins is also expected to grow.
Furthermore, the growth of emerging markets in various regions creates significant opportunities for the growth of the vinyl ester market. However, the prices of raw materials used in the production of vinyl ester resins can be subject to fluctuations, impacting the overall production costs and potentially affecting the vinyl ester market's stability. On the top of that, health and safety concerns associated with the handling and use of vinyl ester resins pose another threat to the growth of the vinyl ester market. Nevertheless, numerous prominent manufacturers are always involved in R&D and manufacturing of novel solutions to further contribute to the vinyl ester market growth. For instance, in February 2021, SIR INDUSTRIALE introduced a new product, SIRESTER® VE 64-M-140, an epoxy novolac vinyl ester resin diluted in styrene, with high reactivity and medium viscosity.
Study Period
2024-2030Base Year
2023CAGR
5.3%Largest Market
Asia PacificFastest Growing Market
North America
The rising adoption of composite materials is majorly driving the vinyl ester market. Vinyl ester resins are widely used as a matrix material in composite manufacturing. Composites offer a high strength-to-weight ratio, making them desirable for use in aerospace, automotive, construction, and wind energy sectors. The increasing adoption of composite materials is driving the demand for vinyl ester resins. Moreover, vinyl ester resins are extensively used in wind turbine blades due to their high fatigue resistance and ability to withstand harsh weather conditions. With the expanding wind energy sector, the demand for vinyl ester is expected to increase significantly, which ultimately contributes to the growth of the vinyl ester market.
Vinyl ester market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific vinyl ester market is anticipated to dominate in the forecasting years primarily due to rapid industrialization and infrastructure development. Countries like China, India, and South Korea are major contributors to the market, with increasing demand for composites in various end-use industries. North America on the other hand is also witnessing significant growth owing to the presence of industries such as construction, marine, and transportation. Moreover, the region's focus on infrastructure development and renovation projects contributes to the demand for vinyl ester resins in corrosion-resistant applications.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
5.3% |
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By Type |
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By Application |
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By Region |
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Vinyl ester market was valued at US$ 1,243.8 Million in 2023 and is anticipated to grow at a CAGR of 5.3 % over 2024-2030.
Application diversification and collaboration with end-use industries are some of the factors that create potential opportunities for the growth of the vinyl ester market.
The Advancements in manufacturing processes and technologies and development of developing bio-based and eco-friendly vinyl ester resins are some of the major trends in the vinyl ester market.
SHOWA DENKO K.K., Reichhold, Arkema, INEOS, SIR INDUSTRIALE, Ashland, DIC Corporation, AOC, Sino Polymer Co., Ltd., Lone Star, Polynt, Scott Bader Company, Swancor, ALIANCYS AG, Interplastic Corporation are a few companies operating in vinyl ester market.
| 1.Executive Summary |
| 2.Global Vinyl Ester Market Introduction |
| 2.1.Global Vinyl Ester Market - Taxonomy |
| 2.2.Global Vinyl Ester Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global Vinyl Ester Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Vinyl Ester Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Vinyl Ester Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Bisphenol A Diglycidyl Ether (DGEBA) |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Epoxy Novolac Vinylester |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Tetrabromo Bisphenol-A (TBBA) |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Brominated Fire-Resistant |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Rubber-Modified |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6.Global Vinyl Ester Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Chemicals and Petrochemicals Industry |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Coating |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Adhesives |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. FRP Tanks and Vessels |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Marine Industry |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Aviation/Aerospace Sectors |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Wind Energy |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Automobile Sectors |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 6.9. Military Applications |
| 6.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.9.3. Market Opportunity Analysis |
| 6.10. Buildings and Construction |
| 6.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.10.3. Market Opportunity Analysis |
| 6.11. Other Applications |
| 6.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.11.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.11.3. Market Opportunity Analysis |
| 7.Global Vinyl Ester Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Vinyl Ester Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Bisphenol A Diglycidyl Ether (DGEBA) |
| 8.1.2.Epoxy Novolac Vinylester |
| 8.1.3.Tetrabromo Bisphenol-A (TBBA) |
| 8.1.4.Brominated Fire-Resistant |
| 8.1.5.Rubber-Modified |
| 8.1.6.Others |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Chemicals and Petrochemicals Industry |
| 8.2.2.Coating |
| 8.2.3.Adhesives |
| 8.2.4.FRP Tanks and Vessels |
| 8.2.5.Marine Industry |
| 8.2.6.Aviation/Aerospace Sectors |
| 8.2.7.Wind Energy |
| 8.2.8.Automobile Sectors |
| 8.2.9.Military Applications |
| 8.2.10.Buildings and Construction |
| 8.2.11.Other Applications |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Vinyl Ester Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Bisphenol A Diglycidyl Ether (DGEBA) |
| 9.1.2.Epoxy Novolac Vinylester |
| 9.1.3.Tetrabromo Bisphenol-A (TBBA) |
| 9.1.4.Brominated Fire-Resistant |
| 9.1.5.Rubber-Modified |
| 9.1.6.Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Chemicals and Petrochemicals Industry |
| 9.2.2.Coating |
| 9.2.3.Adhesives |
| 9.2.4.FRP Tanks and Vessels |
| 9.2.5.Marine Industry |
| 9.2.6.Aviation/Aerospace Sectors |
| 9.2.7.Wind Energy |
| 9.2.8.Automobile Sectors |
| 9.2.9.Military Applications |
| 9.2.10.Buildings and Construction |
| 9.2.11.Other Applications |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Vinyl Ester Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Bisphenol A Diglycidyl Ether (DGEBA) |
| 10.1.2.Epoxy Novolac Vinylester |
| 10.1.3.Tetrabromo Bisphenol-A (TBBA) |
| 10.1.4.Brominated Fire-Resistant |
| 10.1.5.Rubber-Modified |
| 10.1.6.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Chemicals and Petrochemicals Industry |
| 10.2.2.Coating |
| 10.2.3.Adhesives |
| 10.2.4.FRP Tanks and Vessels |
| 10.2.5.Marine Industry |
| 10.2.6.Aviation/Aerospace Sectors |
| 10.2.7.Wind Energy |
| 10.2.8.Automobile Sectors |
| 10.2.9.Military Applications |
| 10.2.10.Buildings and Construction |
| 10.2.11.Other Applications |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Vinyl Ester Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Bisphenol A Diglycidyl Ether (DGEBA) |
| 11.1.2.Epoxy Novolac Vinylester |
| 11.1.3.Tetrabromo Bisphenol-A (TBBA) |
| 11.1.4.Brominated Fire-Resistant |
| 11.1.5.Rubber-Modified |
| 11.1.6.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Chemicals and Petrochemicals Industry |
| 11.2.2.Coating |
| 11.2.3.Adhesives |
| 11.2.4.FRP Tanks and Vessels |
| 11.2.5.Marine Industry |
| 11.2.6.Aviation/Aerospace Sectors |
| 11.2.7.Wind Energy |
| 11.2.8.Automobile Sectors |
| 11.2.9.Military Applications |
| 11.2.10.Buildings and Construction |
| 11.2.11.Other Applications |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Vinyl Ester Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Bisphenol A Diglycidyl Ether (DGEBA) |
| 12.1.2.Epoxy Novolac Vinylester |
| 12.1.3.Tetrabromo Bisphenol-A (TBBA) |
| 12.1.4.Brominated Fire-Resistant |
| 12.1.5.Rubber-Modified |
| 12.1.6.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Chemicals and Petrochemicals Industry |
| 12.2.2.Coating |
| 12.2.3.Adhesives |
| 12.2.4.FRP Tanks and Vessels |
| 12.2.5.Marine Industry |
| 12.2.6.Aviation/Aerospace Sectors |
| 12.2.7.Wind Energy |
| 12.2.8.Automobile Sectors |
| 12.2.9.Military Applications |
| 12.2.10.Buildings and Construction |
| 12.2.11.Other Applications |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.SHOWA DENKO K.K. |
| 13.2.2.Reichhold |
| 13.2.3.Arkema |
| 13.2.4.INEOS |
| 13.2.5.SIR INDUSTRIALE |
| 13.2.6.Ashland |
| 13.2.7.DIC Corporation |
| 13.2.8.AOC |
| 13.2.9.Lone Star |
| 13.2.10.Sino Polymer Co., Ltd. |
| 13.2.11.Polynt |
| 13.2.12.Scott Bader Company |
| 13.2.13.Swancor |
| 13.2.14.ALIANCYS AG |
| 13.2.15.Interplastic Corporation |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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