Corrosion Resistant Resin Market By Type (Epoxy, Polyester, Polyurethane, and Vinyl Ester), By Application (Coating, and Composites), By End-User Industry (Marine, Automotive & transportation, Oil & gas, Infrastructure, and Heavy Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

Corrosion Resistant Resin Market accounted for US$ 9.0 million in 2020 and is estimated to be US$ 15.81 million by 2030 and is anticipated to register a CAGR of 5.9%.

Corrosion resistant resin are designed to protect the fibers they surround in a composite material due to their excellent adhesion, chemical resistance in various harsh conditions, and high-performance mechanical properties. The curing property and durability of resins make it the suitable for incorporating in composite materials which is used in storage tanks, process tanks and pipes. The corrosion resistant resins have various applications which include glass containers, stainless steel articles, painted steel, and in a wide variety of plastics. Corrosion resistance depends on the choice of resin used within the composite application. There are various resin resistant systems available which provide long term resistant to corrosion.

Technological Advancements

Rising demand of composite material is the key factor driving growth of the corrosion resistant resin market. In addition, increasing adoption of light-weight materials, coupled with its cost-effectiveness and low maintenance cost is the other factor propelling growth of the target market. Also, increasing R&D activities for developing new products and to widen the application of the corrosion resistant resin is another factor boosting growth of the global corrosion resistant resin market. In addition, modernization of infrastructure is also propelling growth of the target market. corrosion resistant resin has certain applications in end-user industries such as oil and gas, automotive and transportation, and heavy industries which further surge growth of the target market. increasing losses due to corrosion in equipment, structures, and machineries, especially from the chemical industry plants has increased the demand of corrosion resistant resin thus further driving growth of the global corrosion resistant resin market.

The corrosion resistant resin market is segmented on the basis of type, application, end-user industry and region. Based on the type, the target market is classified into epoxy, polyester, polyurethane, and vinyl ester. On the basis of application, the global corrosion resistant resin market is divided into coating, and composites. On the basis of end-user industry, the target market is categorized into marine, automotive & transportation, oil & gas, infrastructure, and heavy industries.

Regional Insights:

On the basis of region, the corrosion resistant resin market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is accounted for largest market share in terms of revenue and is projected to witness the fastest growth in the near future. This is attributed to increasing demand from automotive and transportation industries in countries in this region. This is also due to rising awareness regarding advantages of corrosion resistant resin in countries in this region. Europe is expected to witness moderate growth in the target market over the forecast period. Middle East and Africa is at nascent stage in the global corrosion resistant resin market.

Report Scope:

Corrosion Resistant Resin Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the Corrosion Resistant Resin Market includes Eastman Chemical Company, BASF SE, GE Plastics Hexion Inc., Ashland Inc., Reichhold LLC, Hexion Inc., Huntsman Corporation, Scott Bader Company Limited, Sino Polymer Co. Ltd., and Aditya Birla Chemicals.

• Eastman Chemical Company*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• BASF SE
• GE Plastics Hexion Inc.
• Ashland Inc
• Reichhold LLC
• Hexion Inc.  
• Huntsman Corporation
• Scott Bader Company Limited
• Sinno Polymer Co. Ltd
• Aditya Birla Chemicals

 “*” marked represents similar segmentation in other categories in the respective section