Corrosion Resistant Resin Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2027
Resin is termed as a ‘solid or highly viscous substance’ which is typically converted into polymers. The resins are plant derived or synthetic in origin. Resins also exist in the mixture of organic compounds. Corrosion resistant resin is primarily formulated as isophthalic, terephthalic and vinyl ester resin. The corrosion resistant resins are high performance specialty polyester and ideal for the manufacture of tanks, pipes, vessels that contain acids, alkalis, fuels, foodstuff, water and other demanding material that can corrode metals.
As the corrosion resistant resins are highly resistant to chemicals, solvents, moisture and elevated temperature, the demand of the corrosion resistant resin is high and which leads to the significant growth of the market. In the marketplace, the corrosion resistant resins successfully compete with the steel and aluminum due to its inherent longevity, ease of installation and the ability to easily maintain and repair as compared to metals.
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Corrosion Resistant Resin Market- Drivers and Restraints
The global corrosion resistant resin market is projected to grow at a significant CAGR as the demand of the corrosion resistant resin due to its various applications in the end user industries such as chemical, oil and gas, automobiles, textiles. The trend of the modernization of the infrastructure of companies also boosts the demand of the corrosion resistant resin products and help to grow the market significantly.
The corrosion
resistant resin has more demand over the steel and aluminum metals
due to its properties such as inherent longevity and easy maintenance which
also drives the growth of the global corrosion resistant resin market. The
demand of the corrosion resistant resin from the food and beverage industry is
also increasing and drives the global corrosion resistant resin market as the
corrosion leads to the equipment failure and costly downtime and it has
potential to impact product safety and quality.
However, the fluctuating raw material price required to
manufacture the corrosion resistant resin may hamper the production capacity
and may hamper the growth of the global corrosion resistant resin market.
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Corrosion Resistant Resin Market- Region Wise Outlook
The global corrosion resistant resin market is segmented into the seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The North America is dominating the global corrosion resistant resin market and contributing the leading shares due to increasing demand of corrosion resistant resin from the oil and gas, chemical and infrastructure industry.
The Western Europe and APEJ are also the fastest growing corrosion
resistant resin market due to the high adoption of the corrosion resistant
resin in the Western Europe and increasing industrialization in the APEJ
region. Japan and Eastern Europe are expected to register a moderate growth
rate to the global corrosion resistant resin market. MEA is at a nascent stage
in the global corrosion resistant resin market. Overall, the global corrosion
resistant resin market is expected to register the significant market growth
over the forecast period 2016 to 2026.
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Regional analysis includes
- North
America (U.S., Canada)
- Latin
America (Brazil, Mexico, Rest Of Latin America)
- Western
Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium,
Netherlands, Luxembourg)
- Eastern
Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia
Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle
East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information,
qualitative and quantitative assessment by industry analysts, inputs from industry
experts and industry participants across the value chain. The report provides
in-depth analysis of parent market trends, macro-economic indicators and
governing factors along with market attractiveness as per segments. The report
also maps the qualitative impact of various market factors on market segments
and geographies.
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