(MENAFN- GlobeNewsWire - Nasdaq) Shift Towards Bio-Based and Sustainable Vinyl Esters to Propel market Growth, industry Anticipated to Witness Expansion at a CAGR of 6.4% through 2034. United States vinyl ester industry poised for 6.6% CAGR till 2034, driven by construction, chemical plants, marine sector; rising demand for eco-friendly alternatives, R&D sparks market growth.
NEWARK, Del, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The vinyl ester market size is likely to be worth US$ 1.4 billion in 2024. The demand for vinyl ester is projected to spike at a CAGR of 6.4% through 2034. The industry is likely to surpass US$ 2.6 billion by 2034. The vinyl ester industry is propelled by its exceptional corrosion resistance properties, making it a preferred choice in various applications such as chemical processing, marine, and construction.
The increasing demand for lightweight and durable materials in industries like automotive and aerospace further drives the growth of vinyl ester usage. Moreover, the rising focus on environmental sustainability has shifted towards bio-based vinyl esters, contributing to market expansion.
Get an overview of market drivers and challenges affecting this industry!
The vinyl ester manufacturers face challenges such as volatility in raw material prices, particularly in the petrochemical sector. Additionally, stringent environmental regulations regarding emissions and waste disposal pose compliance challenges for manufacturers. Moreover, the limited availability of skilled labor and expertise in handling vinyl ester materials hampers market growth in certain regions.
Recent trends in the vinyl ester industry include the adoption of bio-based and sustainable formulations to meet eco-friendly regulations and consumer preferences. Additionally, advancements in manufacturing technologies, such as resin infusion processes and 3D printing, enable the production of complex and lightweight structures with improved performance characteristics. Furthermore, collaborations and partnerships among key players to develop novel vinyl ester composites for niche applications signify a growing focus on innovation and market diversification.
“The vinyl ester industry presents significant opportunities for growth, particularly in emerging economies where infrastructural development is on the rise. Rapid urbanization and industrialization drive the demand for vinyl ester-based products in construction, water treatment, and automotive sectors.” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Vinyl Ester Market
The vinyl ester industry in the United States is expected to grow steadily at a CAGR of 6.6% through 2034. The vinyl ester industry in the United Kingdom is forecasted to grow robustly at a CAGR of 7.6% through 2034. China's vinyl ester industry is poised for significant expansion with a projected CAGR of 6.8% through 2034. Japan's vinyl ester industry is expected to experience robust growth with a projected CAGR of 7.8% through 2034. The vinyl ester industry in South Korea is anticipated to rise steadily at a CAGR of 7.5% through 2034. Bisphenol A Diglycidyl Ether (DGEBA) segment is likely to expand at a CAGR of 6.2% through 2034. The airborne segment is anticipated to witness expansion at a CAGR of 5.4% through 2034.
Click Here To Buy Full Report!
Competitive Landscape of the Vinyl Ester Market
In the competitive vinyl ester market, several key players vie for market share dominance through product innovation, strategic partnerships, and expansion initiatives. These industry giants continuously invest in research and development to introduce advanced vinyl ester formulations that cater to diverse industrial applications, including construction, marine, and automotive sectors.
Amidst intensifying competition, market players focus on strengthening their foothold in emerging regions such as Asia Pacific and Latin America, where increasing industrialization and infrastructural development offer lucrative growth opportunities. By forging partnerships with local distributors and suppliers, key players aim to penetrate new markets and capitalize on the growing demand for vinyl ester products across various end-user industries.
Technological advancements and growing environmental concerns propel market players to develop eco-friendly and sustainable vinyl ester formulations. Companies prioritize the development of bio-based resins and recyclable materials to address sustainability goals and meet stringent regulatory standards. Additionally, investments in efficient manufacturing processes and supply chain optimization contribute to cost reduction and enhance market competitiveness.
Recent Developments in the Vinyl Ester Market
Reichhold has announced DION® 31040-00, a new vinyl ester resin optimized for high-performance maritime, industrial, and transportation applications. The resin has excellent mechanical qualities, corrosion resistance, and little shrinkage. Allnex has introduced a new vinyl ester resin, VIAPAL® VUP 9736, designed specifically to fabricate fiber-reinforced plastic (FRP) pipes and tanks. Scott Bader has created a new vinyl ester resin, Crystic® VE 6790PA, that is pre-accelerated for spray-up and hand lay-up. The resin exhibits strong reactivity, minimal styrene emission, and excellent wetting qualities. Ashland Global Holdings has agreed to sell its composites business, which includes vinyl ester resins, to INEOS Enterprises for US$ 1.1 billion. The deal is scheduled to conclude at the end of the first quarter of 2024. Aristech Inc. has purchased AOCifi, a Chinese firm that manufactures vinyl ester resins and other specialty chemicals. The purchase will boost Aristech's footprint and capabilities in Asia Pacific.
Key Companies in the Market
Polynt Swancor Reichhold LLC 2 AOC, LLC. DIC Corporation
Request Report Methodology:
Key Segments
By Type:
Bisphenol A Diglycidyl Ether (DGEBA) Epoxy Phenol Novolac (EPN) Brominated Fire Retardant Others
By Application:
Pipes & Tanks Paints & Coatings Transportation Pulp & Paper Others
By Region:
North America Latin America Europe East Asia South Asia Oceania Middle East and Africa
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI's Extensive Coverage in the Chemical and Materials Domain:
The esters Market size was projected to be worth US$ 89.36 billion in 2022. By the end of 2033, the market is likely to reach a valuation of US$ 159.36 billion.
A CAGR of 9% is expected of the global polyvinylidene fluoride (PVDF) market due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 2,649.99 Million by 2032, up from US$ 1,119.38 Million in 2022.
The polyvinyl chloride (PVC) market is set for positive growth at approximately 4.2% CAGR over the course of projection period (2019-2029). The key end-use segment catalysing the growth of PVC market is pipe & fittings segment.
The current valuation of the PEG and PPG esters market in 2022 is US$ 4.27 billion and it is projected to grow at a CAGR of 4% during the forecast period to reach a market value of US$ 6.33 billion by 2032.
Growing demand for glycerol esters as effective alternatives to conventional petroleum based products from cosmetics & personal care industry is expected to be one of the key factors that fuelling the growth of global glycerol esters market .
According to this research report, the global lactic acid esters market is expected to reach an estimation of more than US$ 400 Million by the end of the year of estimation (2027) from a value a little under US$ 210 Million in 2017.
The thioesters market to exhibit year on year growth of 4.7% in 2022 reaching a value of about US$ 112.5 Million by 2022 end with projected to expand at CAGR of 4.8% during the projection tenure of 2022 - 2028.
Some of the major key players in the global MDEA Esterquats market are Eastman Chemical Company, The Dow Chemical Company, BASF SE, Huntsman Corporation, Amines & Plasticizers and INEOS.
According to Future Market Insights, the global market of 3,3-dimethylacrylic acid methyl ester is projected to expand at a moderate growth rate of 4.2% during the forecast period. The market value is expected to grow from US$ 34,140.5 thousand in 2023 to US$ 51,327.8 thousand by 2033.
According to Future Market Insights, the global nonwoven polyester fabric market is projected to increase at a CAGR of 6.84% in the forecast period from 2023 to 2033.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: ...
Website:
LinkedIn | Twitter | Blogs | YouTube
MENAFN13022024004107003653ID1107846259