Global Vinyl Ester Market Insights Forecasts to 2033

• The Global Vinyl Ester Market Size was Estimated at USD 1.18 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.38% from 2023 to 2033
• The Worldwide Vinyl Ester Market Size is Expected to Reach USD 2.19 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Vinyl Ester Market Size is anticipated to exceed USD 2.19 Billion by 2033, growing at a CAGR of 6.38% from 2023 to 2033. The vinyl ester’s low viscosity and resistance to water absorption are the primary factors driving the market growth.

Market Overview

The vinyl ester market is the commercial industry associated with the production and sale of vinyl ester resin. Vinyl ester is a type of thermosetting polymer produced by combining an epoxy resin with monocarboxylic acid and used in a variety of applications such as marine, chemical, and aerospace industries. They ensure high-performance materials for superior tensile strength and improve chemical resistance in industrial applications. Further, the high-performance bisphenol-A vinyl ester is advantageous to the pipes and tanks industry. Vinyl ester supports the growth of composite materials in the marine industry by facilitating the creation of lightweight, robust, and corrosion-resistant materials. Increased installation of wind turbines, along with growing research and development for durable and lightweight composites, is expected to offer lucrative market opportunities for the vinyl ester market.    

Report Coverage

This research report categorizes the vinyl ester market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the vinyl ester market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the vinyl ester market.

Driving Factors

The increasing installation of flue gas desulfurization (FGD) systems owing to the rising environmental concerns and stringent regulations on hazardous emissions is propelling the market demand for vinyl ester. The increasing construction activities are further driving the vinyl ester market demand for applications including pipes, tanks, bridges, and building materials. Because of its remarkable durability and long-term performance, vinyl resin is frequently regarded as an excellent choice for boat construction, which increases its use in the constantly expanding marine industry, thereby propelling market growth.

Restraining Factors

The raw material price fluctuation is anticipated to hamper the market growth. Further, the low shelf life of vinyl ester which makes their storage difficult is challenging the vinyl ester market.

Market Segmentation

The vinyl ester market share is classified into type and application.

• The bisphenol-A segment dominated the vinyl ester market and is anticipated to witness the fastest CAGR growth during the projected timeframe.

Based on the type, the vinyl ester market is classified into bisphenol-A, novolac, brominated fire retardant, and others. Among these, the bisphenol-A segment dominated the vinyl ester market and is anticipated to witness the fastest CAGR growth during the projected timeframe. Bisphenol A vinyl ester is used for chemical storage tanks, pipes, fume gas desulfurizing systems (FGD), scrubbers, and ducts, as well as in wastewater treatment systems. There is growing market expansion in the bisphenol-A segment due to its comparatively lower cost and mechanical and chemical resistance.

• The pipes & tanks segment dominated the market and is expected to grow at the fastest CAGR during the forecast period.

Based on the application, the vinyl ester market is classified into pipes & tanks, marine, wind energy, FGD & precipitators, pulp & paper, and others. Among these, the pipes & tanks segment dominated the market and is expected to grow at the fastest CAGR during the forecast period. Vinyl ester resins are ideally used in the manufacturing of pipes and tanks owing to their properties such as chemical resistance, strength, and durability. Durable and corrosion-resistant pipes and tanks are needed in the chemical processing, water management, and construction industries, thereby propelling the market demand.

Regional Segment Analysis of the Vinyl Ester Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the vinyl ester market over the predicted timeframe.

North America is anticipated to hold the largest share of the vinyl ester market over the predicted timeframe. The presence of major chemical and automotive manufacturers in countries like the United States is contributing to driving the market for vinyl ester. The expanding wind power and an increasing number of industrial uses of vinyl ester in construction, chemical processing plants, and the marine (yacht) industry are anticipated to augment the market growth. Strong industrialization and an advantageous manufacturing environment in the region are anticipated to promote the market.

Asia Pacific is expected to grow at the fastest CAGR growth of the vinyl ester market during the forecast period. Due to strong demand from key industries including marine, water and wastewater treatment, chemical, wind, pharmaceutical, food processing, and transportation, the region is expanding significantly. Further, the growth of China and South Korea as major shipbuilding powers has been a major factor driving the regional market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the vinyl ester market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• INEOS
• Polynt
• AOC
• Sino Polymer Co. Ltd.
• SWANCOR
• Bkdj Polymers India
• DIC CORPORATION
• Interplastic Corporation
• Poliya
• Resonac Holdings Corporation
• Scott Bader Company Ltd
• SHOWA DENKO K.K
• Swancor
• Reichhold LLC
• BUFA Composites
• Allnex GmbH
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2023, BÜFA and AOC are expanding their existing collaboration in distribution to Southeast Europe through BÜFA Composites Austria. This agreement would enable customers in the region to have better access to a broad range of quality resins, gelcoats and auxiliary materials.

• In January 2023, BUFA, an Oldenburg-based chemical company buys composites activities from Joh. Klinglhuber & Söhne Handelsgesellschaft mbH in Austria. Due to the acquisition of the composite division of Joh. Klinglhuber & Söhne Handelsgesellschaft mbH (JKS) BÜFA Composite Systems is expanding its presence both on the Austrian market and in the Eastern European region.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the vinyl ester market based on the below-mentioned segments:

Global Vinyl Ester Market, By Type

• Bisphenol-A
• Novolac
• Brominated Fire Retardant
• Others

Global Vinyl Ester Market, By Application

• Pipes & Tanks
• Marine
• Wind Energy
• FGD & Precipitators
• Pulp & Paper
• Others

Global Vinyl Ester Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa