The vinyl ester market is likely to gain substantial momentum by 2027 owing to rapid industrialization, expanding shipbuilding industry, growing product demand from pulp & paper and marine industry, and high product usage in making of sports equipment.
Vinyl ester resins are generally produced by the reaction between an unsaturated monocarboxylic acid and epoxy resin. The formulation of vinyl ester provide improved corrosion resistance and have an extensive range of available strength, shrinkage as well as heat distortion features.
The vinyl ester market is segmented in terms of product, application, and regional landscape.
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With respect to product, the market for vinyl ester is classified into brominated fire retardant, novolac, bisphenol A, and others. Among these, the others segment will witness robust growth over the coming time period.
The others segment includes elastomer modified vinyl ester resins, which offers high adhesive strength, superior resistance to abrasion and severe mechanical stress, while providing greater robustness as well as elongation. These vinyl ester resins also show enhanced mechanical performance in comparison to the commercial vinyl ester resins.
In terms of application, the market is bifurcated into pulp & paper, FGD & precipitators, wind energy, marine, pipes & tanks, and others. Among these, the pulp & paper segment will witness high product demand. This growth is ascribed since the product endures corrosive chemicals and is likely serve as a superior alternative to standard metals & coatings for the process fluid surroundings in pulp & paper sector by end of 2027.
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The others segment includes applications of vinyl ester in chemical processing, transportation, sports equipment and building & construction. The construction sector for example, swimming pool building is expected to be a potential application for the vinyl ester industry in the coming years. Manufacturing of leisure pool includes use of vinyl ester resin which is corrosive resistant for every layer of the swimming pool construction.
The product is one of the top performance resins that provides enhanced strength properties also preventing water to penetrate into the laminate. Moreover, sporting goods will be another important area for vinyl esters by the end of 2025, for their extensive use in golf club shafts, and fishing rods among others.
On the regional front, in 2020, Asia Pacific held the maximum revenue share of more than 50% in overall vinyl ester market. The region is expected to follow a similar growth trend in the coming years. In fact, the huge share of around 70% in the region was contributed by China in 2020, with high production capacities and vast availability of raw material.
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