![Vinyl Ester Market Size Vinyl Ester Market Size](https://s3.mordorintelligence.com/vinyl-ester-market/vinyl-ester-market-size-image-1735459434348.webp)
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
CAGR | 4.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Vinyl Ester Market Analysis
The Vinyl Ester Market is expected to register a CAGR of greater than 4.5% during the forecast period.
The vinyl ester industry is experiencing significant transformation driven by evolving end-user industry dynamics and shifting global manufacturing trends. The chemical manufacturing sector, particularly in Asia-Pacific, continues to expand with major investments in new production facilities and capacity expansions. China's chemical industry, which represents one-third of global production, achieved record production levels of 18.6 million metric tons of paints and coatings in 2023, highlighting the robust demand from key end-use sectors. This growth is further supported by increasing industrialization in emerging economies and the ongoing shift of manufacturing activities from developed to developing regions.
The automotive and transportation sector's transition toward electric vehicles and lightweight materials is creating new opportunities for vinyl ester applications. Despite global supply chain challenges, the automotive industry has shown resilience, with several manufacturers focusing on sustainable and innovative materials. In Saudi Arabia, for instance, new vehicle sales increased by over 6% in early 2023, while major global OEMs announced plans to establish new manufacturing facilities in emerging markets. The marine industry has also witnessed substantial growth, particularly in the luxury boat construction segment, driving demand for high-performance vinyl ester composite materials.
Infrastructure development and renewable energy projects are emerging as significant growth catalysts for the vinyl ester market. The wind energy sector has demonstrated remarkable expansion, with global installed wind-generation capacity reaching 650 GW in recent years. Major markets, including China, the United States, and Europe, continue to invest heavily in wind energy infrastructure, creating sustained demand for composite materials used in turbine blade manufacturing. Additionally, the increasing focus on sustainable construction practices has led to greater adoption of vinyl ester resin in infrastructure applications.
The market is witnessing notable technological advancements and product innovations, particularly in high-performance applications. Leading manufacturers are investing in research and development to develop enhanced formulations with improved mechanical properties and processing characteristics. The industry is also experiencing consolidation through strategic partnerships and acquisitions, as companies seek to strengthen their market position and expand their product portfolios. For instance, in February 2023, Cristex announced an agreement to distribute Poliya's specialist vinyl ester resin in the UK market, demonstrating the industry's focus on expanding distribution networks and market reach.
Vinyl Ester Market Trends
Growing Application in the Manufacture of Fiber Reinforced Plastic Tanks and Vessels
The vinyl ester resin market is experiencing strong growth driven by its increasing adoption in fiber-reinforced plastic (FRP) tanks and vessels manufacturing. Until shaping, curing, and profiling the net forms, vinyl ester resin is used to saturate a continuous network of fiberglass content by pultrusion, creating a high-strength composite material that offers superior performance characteristics. These FRP containment units demonstrate exceptional resistance to corrosion when in contact with damp and chemically active field soils, making them ideal for underground potable water and waste storage vessels. Additionally, submerged fiberglass vessels manufactured using vinyl ester resins show remarkable resistance to ethanol mixes and biofuels, offering a significant advantage over traditional materials.
The growing demand for FRP tanks and vessels is further supported by their numerous advantages, including maintenance-free operation, extended service life exceeding 50 years without replacement, environmental safety, and significantly lower cleaning costs due to their smooth inner surface that reduces sludge formation. According to China National Petroleum Corp. (CNPC) projections, gas consumption is expected to surge to approximately 600 BCM by 2040, driving the need for storage infrastructure. This growth is complemented by major industrial developments, such as BASF's USD 10 billion integrated petrochemicals project in China's Guangdong province, which will require extensive storage and containment solutions. The versatility of vinyl ester-based FRP tanks extends across multiple applications, including potable water storage, chemical storage, blending operations, water and wastewater treatment, mobile trailer-mounted tanks, and high-pressure lightweight cylinders.
Increasing Application in Making Corrosion Resistant Equipment
The vinyl ester market is witnessing substantial growth due to its expanding role in manufacturing corrosion resistant resin equipment across various industrial sectors. Vinyl ester-based FRP has emerged as a superior material for aggressive chemical environments, offering considerably greater resistance to attack from various acids and caustic materials compared to traditional materials. This has led to its widespread adoption in manufacturing industrial equipment and structures, including absorption towers, process vessels, storage tanks, pipes, hoods, ducts, and exhaust stacks, particularly in environments requiring exceptional chemical resistance and durability.
The material's superior performance characteristics make it particularly valuable in marine applications, where it provides the best corrosion and heat resistance, along with superior water penetration resistance and optimal elongation properties among marine resins. Vinyl ester coatings are increasingly being utilized for both interior and exterior applications on ships, boats, and yachts, available in various forms including premium topcoats, high build surfaces, protective primers, finishing primers, and antifouling paints. The material's versatility extends to industrial wastewater applications, where vinyl ester-based pipes have gained popularity due to their ability to reduce long-term maintenance and pump operating costs while providing superior resistance to chemical degradation. These advantages have made vinyl ester the preferred choice for industries requiring reliable, long-lasting corrosion protection solutions.
Segment Analysis: TYPE
DGEBA Segment in Vinyl Ester Market
The Bisphenol A Diglycidyl Ether (DGEBA) segment dominates the vinyl ester market, commanding approximately 54% of the total market share in 2024. This segment's prominence can be attributed to its superior properties, including high chemical resistance, mechanical strength, and excellent solvent and hydrolytic resistance. DGEBA-based vinyl ester resins are extensively used in applications requiring exceptional durability and performance, particularly in GRP structures like speed crafts, yachts, automotive parts, and chemical linings. The segment is also witnessing strong growth with a projected growth rate of around 5% from 2024 to 2029, driven by increasing demand in military and wind turbine structures, especially in infusion production methods. The segment's market leadership is further strengthened by its widespread adoption in corrosion-resistant applications and its ability to provide better cross-bonding properties compared to conventional materials.
![Market Analysis of Vinyl Ester Market: Chart for TYPE](https://s3.mordorintelligence.com/vinyl-ester-market/vinyl-ester-market-Vinyl-Ester-Market-Market-Share-by-Type-Segment-2024-1737048322961.webp)
Remaining Segments in Vinyl Ester Market by Type
The remaining segments in the vinyl ester market include novolac vinyl ester (EPN) and other specialized types. The EPN segment plays a crucial role in applications requiring higher cross-linking density and superior solvent resistance compared to DGEBA-based products. These resins are particularly valuable in handling organic solvents and high-temperature applications, making them ideal for cooling towers and chimneys in various oil and gas and chemical industries. The other types segment, which includes brominated vinyl ester resins, amine-accelerated vinyl ester resins, and vinyl ester urethane resins, serves specialized applications such as fire-retardant systems, chemical anchoring, and marine applications. These variants offer unique properties like enhanced flame resistance, improved curing characteristics, and specific performance attributes tailored to niche applications in the industry.
Segment Analysis: BY APPLICATION
Pipes and Tanks Segment in Vinyl Ester Market
The pipes and tanks segment continues to dominate the vinyl ester market, commanding approximately 65% of the total market share in 2024. This substantial market position is primarily driven by the extensive use of vinyl ester in manufacturing fiber-reinforced plastic (FRP) storage tanks, pipelines, and duct systems across various industries, including chlor-alkali, chemical processing, power generation, mining and metal, industrial water and wastewater, food processing, and pulp and paper industries. The segment's prominence is further reinforced by vinyl ester's superior properties, such as excellent chemical resistance, low maintenance requirements, extended service life of over 50 years, environmental safety, lightweight characteristics, and a smooth inner surface that results in lower sludge formation. Additionally, the growing demand for corrosion-resistant equipment and increasing investments in chemical plant infrastructure have significantly contributed to the segment's market leadership.
Remaining Segments in Vinyl Ester Market by Application
The transportation segment represents the second-largest application area for vinyl ester, followed by vinyl ester coatings, while other applications constitute the remaining market share. In the transportation sector, vinyl ester composites are extensively utilized in the automotive, marine, aerospace, and defense industries, particularly for under-the-hood components and body parts due to their superior strength-to-weight ratio and corrosion resistance. The vinyl ester coatings segment leverages vinyl ester's exceptional chemical resistance and solvent resistance properties, making it ideal for protective coatings in aggressive chemical environments. Other applications include wind energy infrastructure, where vinyl ester resins are crucial in the production of wind turbine blades, and various construction applications such as polymer concrete and sanitaryware manufacturing.
Vinyl Ester Market Geography Segment Analysis
Vinyl Ester Market in Asia-Pacific
The Asia-Pacific region represents a dominant force in the global vinyl ester market, driven by rapid industrialization and increasing demand across various end-use industries. The region's market is characterized by a strong presence in chemical manufacturing, marine applications, and construction activities. Key countries contributing to the market include China, India, Japan, and South Korea, each with distinct market dynamics and growth patterns. The region benefits from extensive manufacturing capabilities, growing infrastructure development, and increasing adoption of composite materials across industries.
![Market Analysis of Vinyl Ester Market: Forecasted Growth Rate by Region](https://s3.mordorintelligence.com/vinyl-ester-market/vinyl-ester-market-Vinyl-Ester-Market-Forecasted-Five-Year-Growth-Rate-By-Region-1737129278171.webp)
Vinyl Ester Market in China
China stands as the largest market for vinyl ester in the Asia-Pacific region, commanding approximately 68% of the regional vinyl ester market share. The country's dominance is supported by its massive chemical manufacturing base, extensive infrastructure development projects, and growing automotive sector. China's market is characterized by the presence of both domestic and international manufacturers, creating a competitive landscape. The country's focus on industrial development, particularly in sectors like chemical processing, marine applications, and construction, continues to drive demand for vinyl ester resins.
Vinyl Ester Market in India
India emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 6% during 2024-2029. The country's market is driven by rapid industrialization, increasing investments in infrastructure development, and growing demand from the chemical processing industry. India's expanding manufacturing sector, coupled with government initiatives promoting industrial growth, creates substantial opportunities for vinyl ester applications. The country's focus on renewable energy projects, particularly wind energy, further contributes to market growth.
Vinyl Ester Market in North America
The North American vinyl ester market demonstrates strong market fundamentals, supported by advanced manufacturing capabilities and technological innovation. The region's market is characterized by high demand from various end-use industries, including chemical processing, construction, and marine applications. The United States, Canada, and Mexico form the key markets in this region, each contributing significantly to the overall vinyl ester market dynamics.
Vinyl Ester Market in United States
The United States dominates the North American vinyl ester market, holding approximately 80% of the regional vinyl ester market share. The country's market leadership is attributed to its well-established chemical manufacturing industry, extensive infrastructure development, and strong presence in marine applications. The US market benefits from continuous technological advancements, robust research and development activities, and growing demand from various end-use industries.
Vinyl Ester Market Growth in United States
The United States also leads the region in terms of growth, with a projected growth rate of approximately 4% during 2024-2029. The country's market expansion is driven by increasing investments in infrastructure development, growing demand from the chemical processing industry, and rising adoption of composite materials. The US market continues to benefit from technological innovations, particularly in areas such as corrosion-resistant applications and advanced manufacturing processes.
Vinyl Ester Market in Europe
The European vinyl ester market is characterized by sophisticated manufacturing capabilities, stringent quality standards, and a strong focus on technological innovation. The region's market dynamics are shaped by countries including Germany, the United Kingdom, France, and Italy, each contributing uniquely to the market landscape. The European market benefits from advanced research and development activities, a growing emphasis on sustainable solutions, and increasing adoption of composite materials across industries.
Vinyl Ester Market in Germany
Germany emerges as the largest market for vinyl ester in Europe, driven by its robust chemical manufacturing industry and strong presence in automotive and industrial applications. The country's market leadership is supported by advanced manufacturing capabilities, strong research and development infrastructure, and growing demand from various end-use industries. Germany's focus on technological innovation and quality standards continues to strengthen its position in the European market.
Vinyl Ester Market Growth in Germany
Germany also leads the European region in terms of growth potential, supported by continuous technological advancements and increasing adoption across various applications. The country's market growth is driven by rising demand from the chemical processing industry, growing infrastructure development projects, and an increasing focus on sustainable solutions. Germany's strong industrial base and emphasis on innovation continue to create new opportunities for market expansion.
Vinyl Ester Market in South America
The South American vinyl ester market demonstrates growing potential, primarily driven by developments in Brazil and Argentina. The region's market is characterized by increasing industrialization, growing infrastructure development, and rising demand from the chemical processing industry. Brazil emerges as both the largest and fastest-growing market in the region, supported by its extensive industrial base and growing investments in infrastructure development.
Vinyl Ester Market in Middle East & Africa
The Middle East & Africa vinyl ester market shows promising growth potential, with Saudi Arabia and South Africa as key contributing countries. The region's market is driven by increasing investments in infrastructure development, a growing chemical processing industry, and rising demand for corrosion-resistant materials. Saudi Arabia represents the largest market in the region, while also demonstrating the fastest growth rate, supported by its extensive petrochemical industry and growing infrastructure investments.
Vinyl Ester Industry Overview
Top Companies in Vinyl Ester Market
The vinyl ester market is characterized by the strong presence of established players like Polynt, INEOS, DIC Corporation, Interplastic Corporation, and Showa Denko K.K. These companies are actively pursuing product innovation through research and development initiatives, particularly focusing on developing low-styrene emission products and improved performance characteristics. Operational agility is demonstrated through strategic production site optimization, with companies like Showa Denko consolidating operations to improve profitability while simultaneously expanding in high-growth markets like China. Market leaders are strengthening their positions through strategic acquisitions and distribution partnerships, as evidenced by INEOS's acquisition of Ashland's composites business and Cristex's distribution agreement with Poliya. Geographic expansion remains a key focus, with companies establishing new subsidiaries and production facilities in emerging markets, particularly in the Asia-Pacific region, to capitalize on growing demand and enhance their global footprint.
Consolidated Market with Strong Regional Players
The vinyl ester market exhibits a partially consolidated structure, with the top players commanding more than sixty percent of the global vinyl ester market share. The landscape is dominated by large chemical conglomerates that leverage their extensive manufacturing capabilities, established distribution networks, and backward integration across the value chain. These major players benefit from their ability to produce key raw materials like epoxy resins and styrene monomer, giving them significant cost advantages and supply chain control. The market has witnessed notable consolidation through strategic acquisitions, particularly in mature markets, as companies seek to expand their product portfolios and strengthen their market positions.
The competitive dynamics vary significantly across regions, with strong local players maintaining substantial presence in their respective markets through specialized product offerings and deep customer relationships. Merger and acquisition activity has been particularly pronounced in recent years, with companies pursuing both horizontal and vertical integration strategies to enhance their market presence. The trend towards consolidation is driven by the need to achieve economies of scale, access new technologies, and expand geographical reach, particularly in high-growth markets like Asia-Pacific where demand for vinyl ester products continues to rise.
Innovation and Market Adaptation Drive Success
Success in the vinyl ester industry increasingly depends on companies' ability to innovate and adapt to changing market conditions while maintaining cost competitiveness. Incumbent players are focusing on developing environmentally friendly products with reduced VOC emissions, improved performance characteristics, and enhanced processing properties to maintain their market leadership. Companies are also investing in research and development to create application-specific solutions, particularly for high-growth sectors such as wind energy, chemical processing, and infrastructure. The ability to provide comprehensive technical support, ensure consistent product quality, and maintain strong relationships with key customers across various industries has become crucial for maintaining market position.
For contenders looking to gain market share, success factors include developing specialized product offerings for niche applications, establishing strong distribution networks, and forming strategic partnerships with regional players. The market presents significant entry barriers due to high capital requirements and technical expertise needed for product development. Companies must also navigate increasing regulatory pressures regarding environmental compliance and safety standards, particularly in developed markets. The concentration of end-users in specific industries like chemical processing and automotive manufacturing necessitates building strong industry relationships and understanding sector-specific requirements, while the presence of substitute products requires clear value proposition demonstration to maintain market share.
Vinyl Ester Market Leaders
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Polynt
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DIC CORPORATION
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INEOS
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SHOWA DENKO K.K.
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Interplastic Corporation
- *Disclaimer: Major Players sorted in no particular order
![Polynt, INEOS, DIC CORPORATION, Interplastic Corporation, SHOWA DENKO K.K.,](https://s3.mordorintelligence.com/vinyl-ester-market/vinyl-ester-market_1646076169444_Vinylestermarket.webp)
Vinyl Ester Market News
- In October 2021, Lone Star completed the acquisition of AOC's shares from CVC Capital Partners. AOC is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins, and other solutions for applications in coatings and protective barriers, colorants and visual effects, adhesives, and conventional composite resins.
Vinyl Ester Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Application in the Manufacture of Fiber Reinforced Plastic Tanks and Vessels
- 4.1.2 Increasing Application in Making Corrosion-resistant Equipment
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4.2 Restraints
- 4.2.1 Toxicity of the Resin
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
- 4.5 Import-export Trends
- 4.6 Feedstock Analysis
- 4.7 Technological Snapshot
- 4.8 Price Analysis
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Bisphenol A Diglycidyl Ether (DGEBA)
- 5.1.2 Epoxy Phenol Novolac (EPN)
- 5.1.3 Other Types
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5.2 Application
- 5.2.1 Pipes and Tanks
- 5.2.2 Paints and Coatings
- 5.2.3 Transportation
- 5.2.4 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AOC
- 6.4.2 Bkdj Polymers India
- 6.4.3 DIC CORPORATION
- 6.4.4 INEOS
- 6.4.5 Interplastic Corporation
- 6.4.6 Poliya
- 6.4.7 Polynt
- 6.4.8 Scott Bader Company Ltd
- 6.4.9 SHOWA DENKO K.K
- 6.4.10 Sino Polymer Co. Ltd
- 6.4.11 Swancor
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Application in Flue Gas Desulphurization
Vinyl Ester Industry Segmentation
Vinyl ester has a greater degree of heat resistance and a high resistance to toxic agents and structural deformation corrosion. By esterification with acidic catalysts, epoxies can be converted to vinyl ester resin, providing an intermediate substance with mechanical capabilities smaller than those of epoxy resins but greater than polyester. The vinyl ester market is segmented by type, application, and geography. By type, the market is segmented into bisphenol A diglycidyl ether (DGEBA), epoxy phenol novolac (EPN), and other types. On the basis of application, the market is segmented into pipes and tanks, paints and coatings, transportation, and other applications. The report also covers the market sizes and forecasts in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
Type | Bisphenol A Diglycidyl Ether (DGEBA) | ||
Epoxy Phenol Novolac (EPN) | |||
Other Types | |||
Application | Pipes and Tanks | ||
Paints and Coatings | |||
Transportation | |||
Other Applications | |||
Geography | Asia-Pacific | China | |
India | |||
Japan | |||
South Korea | |||
Rest of Asia-Pacific | |||
North America | United States | ||
Canada | |||
Mexico | |||
Europe | Germany | ||
United Kingdom | |||
France | |||
Italy | |||
Rest of Europe | |||
South America | Brazil | ||
Argentina | |||
Rest of South America | |||
Middle-East and Africa | Saudi Arabia | ||
South Africa | |||
Rest of Middle-East and Africa |
Vinyl Ester Market Research FAQs
What is the current Vinyl Ester Market size?
The Vinyl Ester Market is projected to register a CAGR of greater than 4.5% during the forecast period (2025-2030)
Who are the key players in Vinyl Ester Market?
Polynt, DIC CORPORATION, INEOS, SHOWA DENKO K.K. and Interplastic Corporation are the major companies operating in the Vinyl Ester Market.
Which is the fastest growing region in Vinyl Ester Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Vinyl Ester Market?
In 2025, the Asia Pacific accounts for the largest market share in Vinyl Ester Market.
What years does this Vinyl Ester Market cover?
The report covers the Vinyl Ester Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vinyl Ester Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Vinyl Ester Market Research
Mordor Intelligence provides comprehensive insights into the vinyl ester industry through detailed market analysis and consulting expertise. Our research thoroughly examines the expanding applications of thermoset resin technologies. This includes vinyl ester coating solutions, vinyl ester gelcoat applications, and advanced vinyl ester adhesive systems. The report covers crucial developments in chemical resistant resin formulations, focusing on novolac vinyl ester compounds and vinyl ester polymer innovations used in corrosion resistant applications.
Stakeholders gain valuable insights through our detailed analysis of vinyl ester composite materials and FRP vinyl ester applications. We place special focus on vinyl ester laminating resin and vinyl ester infusion resin technologies. The report, available as an easy-to-download PDF, provides in-depth coverage of market size trends and industry dynamics. Our research encompasses the entire value chain, from raw materials to end-user applications. This offers stakeholders a comprehensive understanding of both traditional and emerging applications in the corrosion resistant resin sector.