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Corrosion Resistant Resin

Corrosion Resistant Resin Market report categorizes global market by product type, application, and end use industry - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Corrosion Resistant Resin Market - Global Industry
Insights, Trends, Outlook, and Opportunity Analysis,
Resin is 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.
They have application in oil & gas, automotive, and marine industries However,
corrosion is major challenges faced by manufactures operating in these
industries, as it leads to high monetary and property losses across the
aforementioned industries. Corrosion resistant resin are gaining traction in these
industries, owing to their properties such as resistance to solvents, chemicals,
moisture, and high temperature. They have a wide range of application in
manufacturing of glass containers, stainless steel, and painted steel.
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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 growth of 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 propelling 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—Indian construction Industry is projected to be valued at
US$ 5 billion, creating a highly conducive environment for growth of the
market. Moreover, increasing investments in industries such as infrastructure
and transportation in emerging economies such as India is expected to boost
growth of corrosion resistant resin market. China is leading the market, owing to
deep-rooted industrial base. Middle East and Africa are emerging markets for
the corrosion resistant resins due to increasing application in oil & gas industry.
Europe and North America are expected to exhibit relatively slower growth in
market over the forecast period.
However, fluctuating prices of raw material is restraining growth of corrosion
resistant resin market over the forecast period. This is mainly due raw materials
used for manufacturing corrosion resistant resins comprise majority of
petroleum products, which are expensive. Some of the companies operating in
the global corrosion resistant resin industry include Reichhold Inc., Huntsman
Corporation, Olin Corporation, Scott Bader Company Limited, Ashland Inc.,
Aditya Birla Chemicals, and Polynt Composites Inc.
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