Vinyl ester is a resin produced through the process of esterification of an epoxy resin with monocarboxylic acid. The product obtained is then dissolved in the solvent like styrene. Vinyl ester is used in various applications in pipes and tanks, construction, transportation, and paint and coatings industries. It is a thermoset material, which is generally used as a substitute for polyester and epoxy materials. Vinyl ester offers various physical properties such as higher strength and corrosion resistance. Thus, it is a preferred material among various other materials. It possesses low viscosity and ability to withstand water absorption. It offers greater strength and mechanical properties than other materials.
Rise in demand for flue gas desulfurization (FGD) installation owing to the increase in environmental concerns and regulations on harmful emissions and growth in demand for corrosion resistant materials are factors driving the vinyl ester market. Major applications of vinyl ester resins in the FGD process include limestone slurry piping and stack liners. These resins can be used in new and retrofit FGD applications and in flake glass lining systems. Additionally, increase in infrastructure investments is augmenting the vinyl ester market. Constant demand for vinyl ester in chemical and water & wastewater treatment end-use industries is also propelling the vinyl ester market.
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On the other hand, cheaper cost and easy availability of substitutes are hampering the vinyl ester market.
Based on product type, the vinyl ester market can be segmented into Bisphenol A, novolac, brominated fire retardants, elastomers, and others. Bisphenol-A is expected to be the major segment of the market during the forecast period, led by its mechanical properties and chemical resistance properties at relatively lower cost. However, the novolac segment is anticipated to expand at a fast pace during the forecast period owing to its excellent resistance to oxidizing acids, superior solvent resistance, and better heat resistance.
In terms of end-use industry, the vinyl ester market can be divided into pipes & tanks, marine, wind energy, water pipes, FGD & precipitators, fiber reinforced plastic (FRP), land transportation, building & construction, paints & coatings, aerospace and defense, and others. Fiber reinforced plastic (FRP) is estimated to account for significant share of the market owing to the increase in demand for lightweight and corrosion resistance pipe and tank products in new and old infrastructure rehabilitation projects.
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Key players operating in the vinyl ester market include AOC International, Advance Coatings Company, Inc., Allnex, Arjay Technologies Inc., Ashland Global Holdings Inc., Changzhou Tianma Group Company Limited, Crest Composites and Plastics, DIC Material, Hexion Inc., and ITW Spraycore.