Global Corrosion Resistant Resin Market Trends, Applications, Analysis, Growth, And Forecast: 2017 To 2027

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Corrosion resistant resins are used to protect the fibers they surround within a composite material owing to their excellent adhesion, chemical resistance in various harsh conditions, and high performance mechanical properties. The durability and curing property of resins make it a key product used in composite materials which eventually used in process tanks, storage tanks, and pipes. The applications of corrosion resistant resins include glass containers, stainless steel articles, painted steel, and in a wide variety of plastics. Corrosion resistance is determined according to the resin used within composite application.

Increasing demand for these composite materials is the key factor expected to drive corrosion resistant resin market over the forecast period. In addition, increasing adoption of light-weight materials, coupled with its cost-effectiveness and low maintenance cost are other major factors expected to drive growth of the target market. Moreover, continuously ongoing R&D activates for developing new products and to widen product portfolio of corrosion resistant resins, which is another factor expected to propel the global corrosion resistant resin market.

Moreover, modernization of infrastructure is another key factor expected to fuel the growth global market. Corrosion resistant resins are utilized in end-use industries such as oil and gas, automotive and transportation, heavy industries, among others. In addition, rising demand for corrosion resistant resins from various end-use industries is also expected to influence the target market growth. Rising prominence of the corrosion resistant resins market is also attributed to increasing losses due to corrosion in equipment, structures, and machineries, especially from the chemical industry plants, especially parts such as heaters, pumps, boilers, and chimneys.

Asia Pacific corrosion resistant resin market is estimated to account for major share in terms of revenue in the global corrosion resistant resin market. Asia Pacific corrosion resistant resin market is also anticipated to register fastest growth in terms of revenue over the next 10 years, owing to increasing demand from automotive and transportation industries in countries in this region. China market is anticipated to account for significant share in terms of revenue in the Asia Pacific market over the forecast period. Rising awareness regarding advantages of corrosion resistant resin in countries in this region are other factors driving growth of infrastructure industry, which in turn is estimated to fuel growth of the corrosion resistant resin market in this region.

Global Corrosion Resistant Resin Market Segmentation:

Segmentation by type:

• Epoxy
• Polyester
• Polyurethane
• Vinyl Ester

Segmentation by application:

• Coatings
• Composites

Segmentation by end-use industry:

• Marine
• Automotive & transportation
• Oil & gas
• Infrastructure
• Heavy industries

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa