Corrosion Resistant Resin Market Trend, Share, Growth, Size and Forecast 2030

Corrosion Resistant Resin Market

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

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

Global corrosion resistant resin market accounted for $5.62 Billion in 2020 and is expected to reach $8.33 Billion by 2028, growing at a CAGR of 5.6%.

Corrosion Resistant Resin Market

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.

Global Corrosion Resistant Resin Market SizeRequest Free Sample

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 MarketRequest Free Sample

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

Request Free Sample

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.

Global Corrosion Resistant Resin Market By ProductRequest Free Sample

 

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.

Global Corrosion Resistant Resin Market RegionRequest Free Sample

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

Methodology

FrequentlyAsked 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.

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed