The rising adoption of vinyl ester in industrial applications is a key factor driving the market, states Fortune Business Insights, in a report, titled “Vinyl Ester Market Size, Share & Industry Analysis, By Type (Novolac, Bisphenol A, Brominated, Elastomer Modified), By Application (Wind Power, Marine (tie coat, hull & deck), Storage Tank, Pressure Pipes & Process Vessels, Chimney liners, electrostatic precipitators & scrubbers, Building & Infrastructure, Mining Equipment, Others) Others and Regional Forecast, 2022-2029 ” the growing utilization of vinyl ester in glass-fiber filled grades used in building & infrastructure is expected to bolster healthy growth of the market.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
Acquisition of Ashland composites by INEOS to Accelerate Growth
INEOS Enterprises, a privately-owned UK multinational chemicals company announced that it has signed a contract to acquire of Ashland composites business worth USD 1.1 billion. The acquisition will strengthen the company’s position. The new development of the companies is expected to spur numerous opportunities for the market during the forecast period. The growing adoption of vinyl ester as a superior chemical resistance element, especially in marine applications such as boats, ships, yacht, and others owing to its high-water barrier and ability to prevent osmatic blistering can be vital predicted to promote the growth of the market. Moreover, the high usage vinyl ester in storage tanks, process vessels, pressure pipes, chimney lining, electrostatic precipitators, scrubbers is predicted to aid the expansion of the market in the forthcoming years.
Nonetheless, the expensiveness of vinyl ester compared to polyester and epoxy resin is expected to limit the growth of the market during the forecast period. Likewise, the toxic nature of vinyl ester, if exposed can cause unadorned harm, which is predicted to further restrict the growth of the market. Also, safety regulations of organic compounds in the US along with air quality norms are factors expected to inhibit the adoption of the market.
The Report Lists the Main Companies in the Vinyl Ester Market:
Sino Polymer Co., Ltd.
Swancor Holding Company Limited
Reichhold LLC 2
SHOWA DENKO K.K.
Scott Bader Company Ltd.
Rising Chemical & Materials Industry to Boost Growth in North America
Geographically, the vinyl ester market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to account for a substantial share in the global market. The growth in the region is attributed to flourishing chemical & materials manufacturing industries in countries such as Japan, South Korea, China, Taiwan, Singapore, and India. The market in North America is expected to witness a high growth rate during the forecast period owing to the rising industrial and wind power applications of vinyl ester.
The booming shipbuilding and marine industry are predicted to contribute to the growth of the market in the region. The market is predicted to grow significantly during the forecast period owing to the high demand from countries such as France, Germany, UK, Belgium, and Spain. The Middle East & Africa and Latin America are expected to account for a significant share due to the chemicals & petrochemicals industries in the region. The improving socio-economic condition is expected to bode well for the market in the region.
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