Vinyl Esters Market - By Product (Bisphenol A, Novolac, Brominated Fire Retardant), By Application (Pipes & Tanks, Marine Wind Energy, FGD & Precipitators, Pulp & Paper) & Forecast, 2024 – 2032

Vinyl Esters Market Size

The global vinyl esters market was valued at around USD 1.3 Billion in 2023 and is anticipated to register a CAGR of over 6.1% between 2024 and 2032. The market is experiencing robust growth, driven by increasing demand for corrosion-resistant materials in industries such as marine, chemical processing, and construction.
 

The market benefits from vinyl esters 's superior mechanical properties and resistance to chemicals, making it a preferred choice for protective coatings, tank linings, and composite applications. Additionally, the rising focus on sustainability and lightweight materials in automotive and aerospace industries is further boosting the adoption of vinyl esters -based composites. Geographically, emerging economies in Asia-Pacific, such as China and India, are significant growth drivers due to expanding industrial infrastructure. Thus, the vinyl esters market growth is expected to attain a market value of over USD 2.3 billion by 2032.

Furthermore, the market is progressing as technological advancements improve resin formulations, enhancing product performance and expanding application areas. The adoption of bio-based and low-styrene emission vinyl esters resins is gaining traction, reflecting growing environmental concerns and regulatory pressures. Key players are investing in research and development to innovate more durable and cost-effective solutions, particularly for demanding sectors like wind energy and oil & gas, where high-performance materials are essential. This progress is expected to strengthen the market's growth trajectory, with increased investment in infrastructure projects globally also contributing to future demand.
 

Two major pitfall of the vinyl esters market is the high raw material costs, which significantly impact production expenses. Vinyl esters resins rely on petroleum-based chemicals, making them susceptible to price fluctuations in crude oil and other raw materials. These costs can squeeze profit margins and make vinyl esters products less competitive compared to alternative materials. Additionally, environmental concerns pose another significant challenge. The manufacturing process and disposal of vinyl esters s involves volatile organic compounds (VOCs) and hazardous waste, raising regulatory and sustainability issues. Increasing environmental regulations and the push toward greener alternatives may further restrict market growth as industries shift toward eco-friendlier materials.
 

Vinyl Esters Market Trends

The vinyl esters industry is experiencing dynamic growth driven by several current and emerging trends, particularly within the corrosion-resistant materials and coatings segment. A key growth driver is the increasing demand for vinyl esters resins in applications such as chemical storage tanks, pipes, and marine construction, where their superior corrosion resistance compared to traditional polyesters resins is highly valued. Additionally, the rise in offshore oil and gas exploration and the growth of renewable energy industries, particularly wind energy, are spurring demand for vinyl esters -based composites in structural components.
 

Within the type of segment, bisphenol-A-based vinyl esters s dominate due to their enhanced thermal and chemical resistance properties, while novolac-based vinyl esters are gaining traction for high-temperature applications, signaling a shift in customer preference toward more specialized formulations. Technological advancements, particularly in resin formulation, are further boosting market adoption. Manufacturers are focusing on improving resin properties such as strength, flexibility, and resistance to aggressive environments, which is expanding the application scope of vinyl esters s in industries such as automotive and aerospace. In these sectors, the need for lightweight, durable materials is growing as companies seek to enhance fuel efficiency and reduce carbon emissions, aligning with global regulatory pressures on environmental sustainability.
 

At the same time, regulatory frameworks, particularly those emphasizing low VOC emissions and environmentally friendly production processes, are shaping the vinyl esters market landscape, pushing manufacturers to innovate toward greener production methods. The rise of bio-based alternatives is a notable trend in this context, as companies explore renewable raw materials to produce vinyl esters s, reducing dependency on petroleum-based feedstocks. However, despite these opportunities, the market faces challenges such as the high cost of raw materials and the environmental impact of production, which could restrain growth. Furthermore, competition from alternative materials, such as epoxy resins and advanced polyurethanes, poses a challenge, particularly as these alternatives offer similar or superior performance in certain applications at competitive prices.
 

Vinyl Esters Market Analysis

Based on product type, the market is divided into bisphenol a, novolac, brominated fire retardant. Bisphenol A held the dominant market share of 739 USD million in 2023 and the market expected to attain a market value of over USD 1.2 billion by 2032. Bisphenol A-based vinyl esters s hold the largest share in the vinyl esters industry product segment due to their superior chemical, thermal, and mechanical properties, making them ideal for a wide range of applications. The key growth factors driving the demand for Bisphenol A-based vinyl esters s include their excellent resistance to chemicals, acids, and solvents, which makes them highly suitable for use in harsh industrial environments like chemical storage tanks, pipelines, and marine applications.
 

Furthermore, their enhanced durability and ability to withstand high temperatures have made them the material of choice in high-performance applications across the oil and gas, automotive, and construction industries. The increasing demand for lightweight, corrosion-resistant materials in automotive and aerospace sectors, coupled with the growing focus on extending the lifespan of industrial equipment, has further boosted the adoption of Bisphenol A-based vinyl esters s. Additionally, advancements in manufacturing technologies have improved the performance and processing capabilities of these resins, contributing to their dominant position in the market.
 

Based on application type, the vinyl esters market is categorized as pipes & tanks, marinewind energy, FGD & precipitators, pulp & paper & others. pipes & tanks accounted for 48.3% of the market share in 2023 and is projected to grow through 2032. The pipes and tanks segment holds the largest share in the vinyl esters industry due to the growing demand for corrosion-resistant materials in industries such as chemical processing, water treatment, and oil and gas. Vinyl esters resins are highly valued in this application for their superior chemical resistance, durability, and ability to withstand harsh environments, making them ideal for fabricating storage tanks, pipes, and liners used in the transportation and storage of corrosive substances.
 

One of the key growth drivers is the increasing focus on infrastructure development and industrial expansion in emerging economies, where the need for robust, long-lasting piping systems is critical. Additionally, in the oil and gas sector, the use of vinyl esters -based materials for pipelines has grown due to their ability to handle aggressive chemicals and high-pressure conditions, ensuring long-term reliability. The rise in water treatment projects, both for industrial and municipal use, has also contributed to the demand for vinyl esters resins in pipes and tanks, as these materials are essential for ensuring the safe handling of corrosive water treatment chemicals. Furthermore, advancements in resin technology have improved the ease of installation and maintenance of vinyl esters pipes and tanks, further driving adoption.
 

Asia Pacific dominated the vinyl esters market in 2023. It generated a revenue of USD 617 Million in 2023 and the growth forecast for 2032 is 1.1 billion. Asia Pacific dominates the market, primarily due to rapid industrialization, urbanization, and infrastructure development across key economies like China, India, and Southeast Asian nations. The region's booming chemical processing, oil and gas, and water treatment industries drive the high demand for vinyl esters resins, particularly in corrosion-resistant applications such as pipes, tanks, and industrial equipment. Additionally, the expanding construction and marine sectors in these countries, coupled with government investments in renewable energy projects like wind power, further fuel the demand for vinyl esters s in structural composites. The availability of low-cost labor, raw materials, and the establishment of numerous manufacturing facilities make Asia Pacific a hub for vinyl esters production, attracting global players. Environmental regulations promoting durable and corrosion-resistant materials also contribute to the region’s market dominance.

China holds the largest share of the vinyl esters market due to its rapid industrial growth, extensive infrastructure development, and booming manufacturing sectors. The country’s strong presence in industries such as chemical processing, water treatment, and oil and gas drives significant demand for corrosion-resistant materials like vinyl esters resins, particularly for pipes, tanks, and industrial equipment. Additionally, China's ongoing investments in renewable energy, especially wind power projects, have spurred the use of vinyl esters s in wind turbine blades and other structural components.

The government's focus on environmental sustainability and the adoption of advanced materials that extend the lifespan of industrial infrastructure further supports market growth. Furthermore, China benefits from a large domestic production capacity for vinyl esters resins, which ensures a steady supply, competitive pricing, and the ability to meet rising demand across various applications. With continuous technological advancements and a focus on innovation, China is expected to maintain its dominant position in the market in the coming years.
 

Vinyl Esters Market Share

Key companies like Ashland, Inc., Swancor Holding, ALIANCYS AG, Polynt-Reichhold Group, and Hexion play a vital role in driving the growth of the vinyl esters industry through innovation, product diversification, and expanding market presence. Ashland, Inc. is a leader in providing high-performance vinyl esters resins, particularly for corrosion-resistant applications in sectors like marine and chemical processing, while Swancor Holding is known for its significant contributions to wind energy and renewable projects, particularly in the Asia-Pacific region.
 

ALIANCYS AG, with its expertise in resin technology, continues to push advancements in vinyl esters formulations that meet evolving industry standards. Polynt-Reichhold Group, a global leader in composite materials, drives growth by offering a broad portfolio of resins tailored to diverse industrial applications. Hexion is renowned for its innovations in sustainable and high-performance resin solutions, addressing regulatory and environmental concerns. These companies are pivotal in meeting the increasing demand for corrosion-resistant, high-performance materials across industries like construction, automotive, and energy, propelling the market forward globally.
 

Vinyl Esters Market Companies

Major players operating in the vinyl esters industry include:

• Akzonobel
• Aliancys
• Ashland
• DIC Corporation
• Hexion
• Interplastic
• Nivitex Fibreglass and Resins
• Polynt-Reichhold Group
• Scott Bader Company
• Sir Industriale
• Swancor Holding
   

Vinyl Esters Industry News

• In May 2024, Tianhe Group announced that its vinyl esters resin, TH-380, obtained TÜV Rheinland material certification. This achievement underscores the product's compliance with rigorous safety and quality standards, enhancing its market credibility. The certification marks a significant milestone for Tianhe Group, reinforcing its commitment to delivering high-quality materials to its customers.
   
• In June 2024 Scott Bader established a fully independent operational presence in Brazil, concluding a decade-long joint venture with Novapol Plásticos Ltda, part of GRUPO IMSA S.A. Meanwhile, in March 2022, the Mahad plant remained the sole production facility supplying Allnex GmbH, following its acquisition of D.R. Coats Ink & Resins Pvt. Ltd.'s Coating Resins Business.
   

The vinyl esters market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments:

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Market, By Product

• Bisphenol A
• Novolac
• Brominated fire retardant
• Others

Market, By Application

• Pipes & tanks
• Marine
• Wind energy
• FGD & precipitators
• Pulp & paper
• Others  

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of Middle East and Africa