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Corrosion Resistant Resin Market

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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 Forecast, 2018-2026
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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Epoxy resin product segment is dominant in the global corrosion resistant resin
market, owing to 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 are used in marine industry to prevent the blistering of the hull
ships. Replacing the conventional methods of applying protective paints by
resin is increasing rapidly in various end-use industries such as infrastructure,
oil & gas, and automotive. This is mainly attributed to the properties of
composites such as easy installation, corrosion resistance, and ease of operation
at elevated temperatures.
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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