Corrosion Resistant Resin Market is estimated to be US$ 15.81 billion by 2030 with a CAGR of 5.9% during the forecast period
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%. Resin is a highly viscous or solid substance that can be natural or synthetic origin. Corrosion resistance can be defined as the ability to protect the substrate from corrosion. Corrosion Resistant Resin are used where long-term resistance to chemical attack is essential, or where operating at elevated temperatures. Corrosion Resistant Resins are formulated as isophthalic, terephthalic & vinyl ester resins. Vinyl ester resins are used mostly in boat building to prevent hull blistering.
The Corrosion Resistant Resin has wide range of applications which includes plastics, stainless steel articles, painted steel & glass containers. Epoxy resins are widely used in various coating applications due to their low price, excellent chemical properties, low shrinkage, adhesion properties & most important corrosion resistance. Alloying, Painting, Greasing & Oiling are the three important corrosion protective methods.
The report “Global 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 2029”
Key Highlights:
· August 24, 2021, (Nippon Steel Corporation). Sales Launch of ZEXEEDTM, New High Corrosion Resistant Coated Steel from Nippon Steel which has twice the resistance in flat areas than conventional high corrosion resistant steel.
· October 2020, (PubMed Central). Corrosion Resistance of Waterborne Epoxy Resin Coating Cross-Linked by Modified Tetrabutyl Titanate conclude that the addition of cross-linking agent had improved the protecting function of the coating.
Analyst View:
Increase in corrosion in machineries, chemical industry plants, equipments has led to increase in demand for Corrosion Resistant Resin Market. Thus, increasing research & development activities for developing new products of corrosion resistant resin material will develop the boosting growth of Corrosion Resistant Resin Market.
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Key Market Insights from the report:
Global Corrosion Resistant Resin Market accounted for US$ 9.0 billion in 2020 and is estimated to be US$ 15.81 billion by 2030 and is anticipated to register a CAGR of 5.9%. Global Corrosion Resistant Resin Market is segmented based on Type, Applications, End-User Industry and Region.
· Based on Type, Global Corrosion Resistant Resin Market is segmented into Epoxy, Polyester, Polyurethane & Vinyl Ester.
· Based on Application, Global Corrosion Resistant Resin Market is segmented into Coating & Composites.
· Based on End-User Industry, Global Corrosion Resistant Resin Market is segmented into Marine, Automotive & Transportation, Oil & Gas, Infrastructure & Heavy Industries.
· By Region, the, Global Corrosion Resistant Resin Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Corrosion Resistant Resin Market:
The prominent players operating in the Global 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., & Aditya Birla Chemicals.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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