Vinyl Ester Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 To avoid losing a large amount of time to maintenance and repairs, the corrosion industry is choosing composite materials that are resistant to corrosion and can withstand high temperatures without losing their strength or durability.

The fiber-reinforced plastic (FRP) application in pipes and tanks has been rising in recent years. Vinyl ester resins are widely used in many industries due to their superior chemical resistance and low permeability.

They are being extensively used to fabricate fiber-reinforced plastic (FRP) storage tanks, pipelines, and duck systems. The pipes and tanks segment is estimated to have the largest share in the vinyl ester market.

Vinyl ester-based FRP pipes and tanks are widely used in industries such as the chlor-alkali and chemical industry, power generation industry, mining and metal industry, industrial water and wastewater industry, food processing industry, and pulp and paper industry.

Vinyl ester-based FRP pipings are used for many applications in the power industry. Some of these include slurry piping, FGD absorber spray headers, and storage tanks. 

The vinyl ester market was valued at USD 977 million in 2021, and it is expected to register a CAGR of over 4.5% during the forecast period (2022-2027).

The COVID-19 pandemic impacted the market negatively in 2020; however, it has been estimated to have reached pre-pandemic levels and is expected to grow at a steady rate during the forecast period (2022-2027).

The major factors driving the market are growing application in the manufacture of fiber-reinforced plastic tanks and vessels and increasing application in making corrosion-resistant equipment.

On the flip side, the toxicity of vinyl ester resin is hindering the growth of the market studied.

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