Global Corrosion-Resistant Resin Market: Overview
Many industries face corrosion loss every year. It poses a direct threat for property loss. The term “corrosion-resistant resins” has been introduced to protect such property losses from environmental changes. It prevents equipment, machineries, and infrastructures from getting damaged.
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Global Corrosion-Resistant Resin Market: Growth Factors
Monetary losses occur due to corrosion of the end-use industries which is the major driving factor of the global corrosion-resistant resin market. Modernization of infrastructure is another growth factor that is fuelling the global market growth. Increasing environmental changes is also anticipated to foster the demand in the market. Moreover, increasing use of the corrosion-resistant resin in various applications such as composites, coatings, and others will enhance the market growth in the near future. In addition, corrosion-resistant resins are also used in end-use industries such as automotive & transportation, oil & gas, heavy industries, and others.
Global Corrosion-Resistant Resin Market: Segmentation
The global corrosion-resistant resin market is categorized on the basis of end-use as heavy industries, marine, oil & gas, automotive & transportation, construction, and others. Based on types, the global market is segmented as vinyl ester, polyester, epoxy, and polyurethane. The corrosion-resistant resins market is further divided on the basis of application as composites, coatings, and others.
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Global Corrosion-Resistant Resin Market: Regional Analysis
Asia-Pacific accounted for the largest market share in the global corrosion-resistant resin market and is expected to witness the fastest growth in the next few years. China is considered to be the biggest niche market for corrosion-resistant resins owing to well-established industries. The Middle East & Africa is emerging market for corrosion-resistant resin due to large oil & gas industries in the region. Moreover, Japan, South Korea, and India are also contributing to the growth of the global corrosion-resistant resin market due to the modernization of infrastructure and developing economies.
Global Corrosion-Resistant Resin Market: Competitive Players
Some of the key players dominating the global corrosion-resistant resin market are Scott Bader Company Limited, Alpha Owens-Corning (AOC) LLC, Oiln Corporation, Ashland Inc., Sino Polymer Co. Ltd., and Huntsman Corporation. Other players influencing the global market are Reichhold LLC, Aditya Birla Chemicals, Polynt Spa, and Hexion Inc. Many major players in the global market are opting for new strategies in order to expand their market share. For example, Showa Denko developed a new product styrene-free vinylester resin. It has a high corrosion resistance against corrosion caused by the mixture of organic and inorganic acids.
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Global Corrosion-Resistant Resin Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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