A key factor driving the growth of the market is the increased demand from corrosion-resistant pipes and storage tanks. The corrosion of steel and other metal-based pipes and storage tanks is one of the challenges faced by certain industries including the chemical, oil and gas, and waste-water treatment industries. Corrosion resistance is one of the key selling points of vinyl ester resins over conventional materials that are used for manufacturing of pipes and storage tanks. Vinyl ester resins offer superior chemical resistance, low permeability, abrasion resistance, and flexibility, because of which they are used as matrix materials to fabricate FRP for manufacturing storage tanks and pipes.
This market research report on the global vinyl ester market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the implementation of stringent environmental regulations to drive the demand for FGD systems as one of the key emerging trends in the global vinyl ester market:
Global vinyl ester market: Implementation of stringent environmental regulations to drive the demand for FGD systems
FGD is the most developed of the commercial methods to control sulfur dioxide, sulfur trioxide, and other greenhouse emissions from coal-fired power plants. FGD systems installed in power plants help reduce the content of flue gases from the environment. The market Wet FGD and Dry FGD are the key technologies implemented in the market. The implementation of stringent environmental regulations and an increase in global energy demand are propelling the demand for FGD systems. Certain environmental regulations have been imposed to reduce the sulfur dioxide emissions from power plants.
“Epoxy vinyl ester resins are used for wet FGD systems in absorber vessels, slurry piping, and ductwork. The most prominent applications of epoxy vinyl esters-based FGD system are limestone slurry piping followed by stack liners. Epoxy vinyl ester resins exhibit improved mechanical properties such as better thermal shock and impact resistance. Additionally, epoxy vinyl ester resin-based FRP is used to enhance the resistance of gas scrubbing systems to attacks from aggressive flue gases that contain sulfuric acid, phosphorus pentoxide, and other harmful gases,” says a senior analyst at Technavio for research on plastics, polymers, and elastomers.
Global vinyl ester market: Segmentation analysis
This market research report segments the global vinyl ester market by application (pipes and tanks, marine, FGD, and wind energy) and geographical regions (APAC, EMEA, and the Americas).
The pipes and tanks segment held the largest market share in 2017, accounting for nearly 52% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 45% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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