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Corrosion Resistant Resin Market

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Growing demand for composite materials is one of the major factors boosting growth of corrosion resistant resin market.
CORROSION RESISTANT RESIN MARKETGlobal Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2016–2024
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REPORT DESCRIPTION
Corrosion Resistant Resin Market Overview
Resin is a highly viscous or solid substance which can be natural or of synthetic origin. Corrosion resistance resins
are mainly formulated as isophthalic, vinyl ester, and terephthalic resins to impart desired property of corrosion
resistance. Oil & gas, automotive, and marine industries have witnessed a surge in recent years. However, one of
the major challenges faced by companies operating in these industries is corrosion. Corrosion leads to high
monetary and property losses across the aforementioned industries. Corrosion resistant resin is witnessing
increased acceptance in these industries, owing to its resistance to solvents, chemicals, moisture, and high
temperature range. Corrosion resistant resin finds a wide range of application in glass containers, stainless steel,
and painted steel, among others.
Growing demand for composite materials is one of the major factors boosting growth of corrosion resistant resin
market. Moreover, conventionally used metals such as carbon steel and aluminum are being replaced by
composites due to their added advantages such as cost effectiveness and low maintenance. Corrosion resistance
materials are anticipated to witness high demand in the chemical industry, where losses due to corrosion leads to
significant revenue losses. Consumption of corrosion resistant resins for application in equipment, structures and
machineries is expected to increase in the near future.
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REPORT DESCRIPTION
Corrosion Resistant Resin Market Taxonomy
On the basis of type of product type, the global market is classified into:
Epoxy

Polyester

Vinyl Ester

Polyurethane
On the basis of application, the global market is segmented into:



Composites
Coatings
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REPORT DESCRIPTION
Corrosion Resistant Resin Market Taxonomy
On the basis of end use industry, the global market is classified into:







Chemical
Infrastructure
Oil & Gas
Marine
Food and Beverage
Automotive and Transportation
Others (power generation, paper and pulp)
Epoxy resin product segment is expected to remain dominant in the global corrosion resistant resin market, due to
its excellent corrosion resistance property, easy application and affordable cost. Epoxy coatings are widely used to
prevent corrosion in manufacturing equipment, tanks for corrosive chemicals, underground storage tanks,
industrial scrubbers, effluent management, and pressure transfer pipe. Vinyl resin is used in marine industry to
prevent the blistering of the hull ships.
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REPORT DESCRIPTION
Corrosion Resistant Resin Market Outlook Increasing Focus on Cutting
Losses due to Corrosion Expected to Propel Market Growth
Asia Pacific is expected to be the most potential market for corrosion resistant resin manufacturers. Asia
Pacific is projected to witness relatively high growth in terms of value over the forecast period. Rapidly
increasing industrialization, GDP growth, and demand for improved and modern infrastructure in the
region is expected to fuel the demand for corrosion resistant resins in the region, which in turn is
anticipated to augment growth of the corrosion resistant resin market. According to India Brand Equity
Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry,
Government of India—in FY2020 the Indian construction Industry is projected to be valued at US$ 5
billion. This is projected to create a highly conducive environment for growth of the market. Moreover
growing foreign investments in industries such as infrastructure and transportation in growing economies
such as India is expected to boost growth of corrosion resistant resin market in Asia Pacific.
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