Corrosion Resistant Resin Market By Type (Epoxy, Polyester, Polyurethane, Vinyl Ester, and Others), By Application (Coating, Composites, and Others), By End Use Industry (Marine, Automotive & Transportation, Oil & Gas, Infrastructure, Heavy industries, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 19-Apr-2021 Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-502 Status : Published

The global corrosion resistant resin market accounted for USD 5.62 Billion in 2020 and is expected to reach USD 8.33 Billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028.

Description

Market Overview

The global corrosion resistant resin market accounted for USD 5.62 Billion in 2020 and is expected to reach USD 8.33 Billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028.

Corrosion resistance is an ability to prevent environmental deterioration happing due to chemical or electro chemical reactions. Resins are used for long term resistance to chemical attack or at a place where operating is at elevated temperatures. Epoxy coating is mainly used for protection of marine engineering as organic coatings are good option for metal protection. Polyester and vinyl resin are mainly used for manufacturing tanks, vessels, pipes which contains fuel, acid, foodstuffs and other materials that can corrode metal.

COVID-19 Impact Analysis

The outbreak of COVID-19 is unprecedented and has significantly impacted the global economy. Supply chain disruptions will likely continue which will affect the availability of equipment and parts and then it eventually impacts projects. There has been a downward slope in usage and demand for various assets like transportation, due to lockdown.

Global Corrosion Resistant Resin Market

Growth Factors

Infrastructure is crucial for economic growth. Investments in infrastructure across transport, water, energy, and communication helps stimulate long term growth. This is creating opportunities for corrosion resistant resin manufacturers globally. Increasing environmental protection awareness conventionally used metals such as aluminum and carbon steel are being replaced by composites due to reasons like cost effectiveness and low maintenance. This is estimated to encourage the demand in this sector. Food and beverage industry is also contributing in the demand for corrosion resistant resin to enhance production safety and quality.

Report Scope

Type Segment Analysis Preview

Epoxy resin segment held a share of over 26% in 2020 and is expected to grow due to its corrosion resistance property. It is easy to apply and also reasonable in cost. These resins are commonly used to protect erosion in the production of tanks, industrial scrubbers, equipment and other purposes. Polyester, polyurethane, vinyl ester, and others form the type segment.

 

End Use Industry Segment Analysis Preview

The oil & gas segment is projected to grow at a CAGR of around 6% from 2021 to 2028. Corrosion resistant resins are widely used in this segment as coatings and composites as it possesses great corrosion resistant properties. Marine, automotive & transportation, infrastructure, heavy industries, and others form the end use industry segment.

Regional Analysis Preview

Asia Pacific held the largest market share exceeding 32% in 2020. Rapid industrialization, demand for modern infrastructure, and GDP growth in this region, are some of the reasons contributing to this share. Indian construction industry is creating a highly conducive environment for this market. Increasing investment in infrastructure in emerging economies in China and India is expected to boom the market over the coming years.

Middle East & Africa is projected to grow at CAGR of around 2.4%. This is due to a huge scope for growth in the oil & gas industry. North America and Europe is in saturation state and hence growing at a moderate pace for the corrosion resistant resin market. Countries in these regions have an established infrastructure for commercial, public, and transport sectors, which is stirring the growth.

Key Market Players & Competitive Landscape

Some of key players in corrosion resistant resin market (CRR) are Eastman Chemical Company, Scott Bader Company Ltd, Ashland Inc., Hunstman Corporation, Hexion Inc., Reichhold LLC, Sino Polymer Co., Alpha Owens-Corning (AOC) LLC, Aditya Birla Chemicals, BASF SE, among others. Investment, expansions, partnerships, agreements, and collaborations were the major growth strategies adopted by the key players in the market. For instance, Reinforcement of exclusive collaboration between BASF and Gustav Grolman Gmbh & Co. KG happened in 2018 for processing professionally in epoxy resin segment.

The global corrosion resistant resin market is segmented as follows:

By Type

  • Epoxy
  • Polyester
  • Polyurethane
  • Vinyl Ester
  • Others

By Application

  • Coating
  • Composites
  • Others

By End Use Industry

  • Marine
  • Automotive & Transportation
  • Oil & Gas
  • Infrastructure
  • Heavy industries
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1: Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2: Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By End Use Industry
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Corrosion Resistant Resin Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3: COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4: Corrosion Resistant Resin Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Epoxy
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Pulyester
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Pulyurethane
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Vinyl Ester
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Others
      • 4.6.1. Market Size and Forecast, By Region (USD Million)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5: Corrosion Resistant Resin Market – End Use Industry Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Use Industry, 2020 & 2028
    • 5.2. Marine
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Automotive & Transportation
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Oil & gas
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Infrastructure
      • 5.5.1. Market Size and Forecast, By Region (USD Million)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Heavy industries
      • 5.6.1. Market Size and Forecast, By Region (USD Million)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.7. Others
      • 5.7.1. Market Size and Forecast, By Region (USD Million)
      • 5.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6: Corrosion Resistant Resin Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By End Use Industry, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By End Use Industry, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By End Use Industry, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By End Use Industry, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By End Use Industry, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By End Use Industry, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By End Use Industry, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By End Use Industry, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By End Use Industry, 2016 – 2028
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By End Use Industry, 2016 – 2028
  • Chapter No. 7: Corrosion Resistant Resin Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
    • 7.3. Market Restraints
    • 7.4. Market Opportunities
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technulogy Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Corrosion Resistant Resin Market: Company Market Share, 2019
      • 8.1.2. Global Corrosion Resistant Resin Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Corrosion Resistant Resin Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Corrosion Resistant Resin Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Eastman Chemical Company
    • 9.2. Scott Bader Company Ltd
    • 9.3. Ashland Inc.
    • 9.4. Hunstman Corporation
    • 9.5. Hexion Inc.
    • 9.6. Reichhuld LLC
    • 9.7. Sino Pulymer Co.
    • 9.8. Alpha Owens-Corning (AOC) LLC
    • 9.9. Aditya Birla Chemicals
    • 9.10. BASF SE
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodulogy
    • 11.1. Research Methodulogy
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Methodology


Frequently Asked Questions

The global corrosion resistant resin market was valued at USD 5.62 Billion in 2020.

The global corrosion resistant resin market is expected to reach USD 8.33 Billion by 2028, growing at a CAGR of 5.6% between 2021 to 2028.

Some of the key factors driving the global corrosion resistant resin market growth are rising demand for modern technology, environmental protection awareness, and increasing demand in F&B sector for maintaining the quality and safety.

Asia Pacific region held a substantial share of the corrosion resistant resin market in 2020. Rapid industrialization, demand for modern infrastructure, and GDP growth in the region are augmenting the market growth.

Some of key players in Corrosion Resistant Resin Market(CRR) are Eastman Chemical Company, Scott Bader Company Ltd, Ashland Inc., Hunstman Corporation, Hexion Inc., Reichhold LLC, Sino Polymer Co., Alpha Owens-Corning (AOC) LLC, Aditya Birla Chemicals, and BASF SE, among others.

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