Corrosion Resistant Resins Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction

Polyester resins come under the family of polymers and are used to produce a wide range of products. Most commonly, thermoset polyesters are also known as unsaturated polyester resins and are available in a wide number of formulations generally made for specific applications. Such formulations are generally designated by the key raw materials involved which determine the overall performance characteristics of concluding polymer backbone. Isophthalic polyester resins is a wide range of resins designed from glycols, isophthalic acid, maleic anhydride and others. The special resin is picked up to impart the required properties as well as corrosion resistance. Such corrosion resistant resins can be employed for applications related to moderate corrosion resistance to a specific temperature range of approximately 180°F. Isophthalic corrosion resistant resins impart efficient resistance to acids, water, hydrocarbons and weak bases such as oil and gasoline. Practically, vinyl ester resins refer to polyester resins although they are generally classified on a separate basis from polyesters owing to their efficient and improved corrosion resistance and mechanical properties.

Market Dynamics

Industries incur great losses owing to corrosion. Corrosion can pose a serious threat to people and property. Corrosion resistant resins aids in minimizing such losses and helps in avoiding damage to equipment, structures and machinery. These are some of the key factors anticipated to drive the growth of global corrosion resistant resins market over the forecast period. Increasing number of applications of corrosion resistant resins and development of the end-use industries such as marine coatings, transportation, electrical & electronic laminates, aerospace, decorative powder coatings and composites are expected to bolster the growth of global corrosion resistant resins demand over the forecast period. This trend is analyzed to continue throughout the forecast period due to increased automotive and infrastructure demand. Some of the favorable properties of corrosion resistant resins such as mechanical strength, high thermal stability, adhesion, moisture resistivity, mechanical, heat resistance and electrical make corrosion resistant resins best suitable for several end-use applications including jewelry, laminates, industrial and insulators applications. Also, increasing research and development coupled with advancement in technology in the field of advanced and modified resins is anticipated to create new opportunities for various industrial applications. Increasing growth of automotive and construction industry on the basis of rising per capita disposable income along with changing demographics and lifestyles, especially in emerging economies are some other key factors driving the global corrosion resistant resins market over the forecast period.

Market Classification and Overview

The global corrosion resistant resins market can be segmented on the basis of type, application, end-use industry and geography. On the basis of type, the global corrosion resistant resins market can be segmented into epoxy, polyester, polyurethane, vinyl ester and others. On the basis of application, global corrosion resistant resins market can be segmented into coatings, composites and others. Based on the end-use industry, the global corrosion resistant resins market can be segmented into marine, automotive, transportation, oil & gas, infrastructure, heavy industries and others. By region, the global corrosion resistant resins market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.

Report Coverage

Market	Corrosion Resistant Resins Market
Analysis Period	2015 – 2026
Historic Data	2015 – 2016
Base Year	2017
Forecast Data	2018 – 2026
Market Stratification	Type, Application, End-Use Industry, Geography
Regional Scope	North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage	Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis

 

Market Participants

Major players operating in the global corrosion resistant resins market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthening their goodwill in the market. Some of the key players operating in the global corrosion resistant resins market include Eastman Chemical Company, BASF SE, GE Plastics Hexion Inc. Ashland Inc., Reichhold LLC, Hexion Inc., and Huntsman Corporation among others.

Market Segmentation

Market By Type

·         Epoxy

·         Polyester

·         Polyurethane

·         Vinyl Ester

·         Others

Market By Application

·         Coatings

·         Composites

·         Others

Market By End-Use Industry

·         Marine

·         Automotive

·         Transportation

·         Oil & Gas

·         Infrastructure

·         Heavy Industries

·         Others

Market By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA