Vinyl ester Market Size, Share, and Growth Analysis

Vinyl Ester Market By Type (Bisphenol A, Novolac), by End-Use Industry (Pipes & Tanks, Marine), By Region -Industry Forecast 2025-2032


Report ID: SQMIG15A2472 | Region: Global | Published Date: January, 2025
Pages: 196 |Tables: 70 |Figures: 70

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Vinyl ester Market Insights

Global Vinyl Ester Market size was valued at USD 1 Billion in 2023 poised to grow from USD 1.04 Billion in 2024 to USD 1.47 Billion by 2032, growing at a CAGR of 4.4% in the forecast period (2025-2032).

The demand for vinyl ester resin shifted due to the global necessity for corrosion resistance provided by the growth of buildings, infrastructure, and standards of sustainability. The vinyl ester resin is used in different products in various application areas of construction, chemical application, and transportation as it has immensely good quality in terms of longevity and chemical resisting properties. Vinyl ester has found a major application for wind energy systems. Vinyl esters are now being more frequently used in numerous wind turbine parts since the demand increases for renewable energy. Vinyl ester hybrid composites, that are frequently used, alongside pultruded rods used in wind turbine blades, have not yet been taken complete advantage of despite having high strength-to-weight ratios as well as corrosion, fatigue resistance, and capability to be employed in such parts.

This further demonstrates the current trend towards sustainable energy sources in relation to the expansion of renewable energy infrastructure using VE. Changing compositions, including product innovation in regard to VE, are equally essential. Vinyl ester resins with improved inflammable qualities, toughness, and processability (resistance to flow when heated) have been the focus of manufacturers' efforts. Development meets new requirements in industries using marine engineering and automotive chemicals. There are materials whose performance is satisfactory for safety, effect and life span. Therefore, players in the vinyl esters industry have been actively researching green formulations, recycling, and bio-based raw materials to reduce their impact in the environment.

Market snapshot - (2025-2032)

Global Market Size

USD 1 Billion

Largest Segment

Bisphenol A

Fastest Growth

Novolac

Growth Rate

4.4% CAGR

Global Vinyl ester Market ($ Bn)
Country Share by North America (%)

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Vinyl ester Market Segments Analysis

The global vinyl ester market is segmented based on type, end-use industry, and regions. In terms of type, the market is segmented into bisphenol A, novolac, brominated fire retardant, elastomer-modified, and other product types. Based on the end-use industry, the market is grouped into pipes & tanks, marine, wind energy, FGD & precipitators, building & construction, land transportation, aerospace & defense, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.

Analysis by Type

As per categorization by type, the market is classified as bisphenol A, novolac, brominated fire retardant, elastomer-modified, and other product types. Among these, bisphenol A earned the largest share and continues to hold the dominant global vinyl ester market share. Bisphenol A is the dominant type in the global vinyl ester market owing to its beneficial role in offering chemical and thermal resistance, thereby stimulating innovation into its newer formulations. Bisphenol A based vinyl esters are preferred due to their higher strength and durability besides excellent corrosion resistance, making them ideal applications in aerospace, automobile, and marine applications. BPA's leadership position can be attributed to its economical price, supply, and the ability to produce high-performance materials that are in short supply for demanding applications in almost all sectors.

Novolac type resins are expected to be the fastest-growing segment in the global vinyl ester market due to their superior mechanical properties and excellent resistance to high temperatures, chemicals, and corrosion. Novolac resins, a result of polymerizing phenolic compounds, can deliver superior performance under demanding application requirements, primarily within the automobile, construction, and marine sectors. Increased demand from end-users due to the emergence of sustainable safety-related industries which need durable strength also contributes towards growth. Simultaneously, formulations of Novolac resin that are making it more cost-effective are enhancing rapid adoption of such resins across various applications.

Analysis by End-Use Industry

The pipes and tanks segment are a key driver in the global vinyl ester market, with ongoing innovations focusing on enhancing chemical resistance, durability, and long-term performance. Vinyl ester resins are significantly gaining acceptance in the production of pipes and tanks for applications in water treatment, oil and gas, and chemicals, primarily due to their superior resistance towards corrosion as well as their ability to withstand highly aggressive environments. The dominance of the pipes and tanks industry arises from its growing demand for materials offering higher strength, longevity, as well as cost-effectiveness in fluid handling and storage applications, specifically in corrosive conditions where more conventional materials seem to fail.

The pipes and tanks segment are a key driver in the global vinyl ester market, with ongoing innovations focusing on enhancing chemical resistance, durability, and long-term performance. Vinyl ester resins are significantly gaining acceptance in the production of pipes and tanks for applications in water treatment, oil and gas, and chemicals, primarily due to their superior resistance towards corrosion as well as their ability to withstand highly aggressive environments. The dominance of the pipes and tanks industry arises from its growing demand for materials offering higher strength, longevity, as well as cost-effectiveness in fluid handling and storage applications, specifically in corrosive conditions where more conventional materials seem to fail.

Global Vinyl ester Market By Type (%)

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Vinyl ester Market Regional Insights

North America is dominating the global vinyl ester market due to its well-established industrial base, strong demand across key sectors like automotive, construction, marine, aerospace, and significant investments in innovation and manufacturing. This is due to the region boasts cutting-edge technological infrastructure and includes a high-performance material focus that has accelerated the take up of vinyl ester resins, especially for use in applications demanding superior corrosion resistance and durability. North America is also committed to sustainability and hosts major market players as well as having strict rules and regulations which drive the evolution of materials, propelling it further into the market hub for growth and innovation.

Asia-Pacific is the fastest-growing region in the global vinyl ester market due to rapid industrialization, infrastructure development, and increasing demand for high-performance materials across various sectors, including construction, automotive, and marine. Increased production in the manufacturing sector in China and India is driving the vinyl ester market due to its excellent chemical and corrosion resistance. Moreover, increased investments in technological up-gradation and an increasing marine and transportation sector are also fueling the use of vinyl esters. The region's cost-effectiveness in producing vinyl ester and large customer base makes it a major growth driver for the vinyl ester market in the Asia-Pacific region.

Global Vinyl ester Market By Geography
  • Largest
  • Fastest

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Vinyl ester Market Dynamics

Drivers

Increasing Demand for Corrosion-Resistant Materials

  • The need to have corrosion resistance materials in difficult environments like those in chemical process, marine construction industries drive this global vinyl ester market growth. Vinyl ester resins are exceptional agents that can perform well under extremely harsh conditions characterized by chemical interaction, moisture, among others, meaning they can give durable, lasting applications in many of these segments.

Advancements in Manufacturing Technologies

  • Advances in technology that produce vinyl ester resins are positively impacting the overall growth of the market. The improvement in manufacturing procedures results in lower cost, hence better resin properties, including strength, durability, and versatility. Such innovations help drive usage in automotive, aerospace, and infrastructural sectors, which otherwise would expand the potential of the market.

Restraints

Availability of Substitutes

  • Availability of alternative materials like epoxy resins and polyester offering similar properties at lower costs has been a major restraint to the global vinyl ester market. For many applications, these substitutes have proven adequate to prevent vinyl ester resins from widespread use in specific industries.

Regulatory Challenges and Environmental Concerns

  • Regulatory challenges related to the chemical composition and safety standards of vinyl ester resins become a significant restraint. The fast-changing regulatory framework, especially towards environmental and health safety, means increased compliance cost and delays for product approval and hence slows market growth and innovation.

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Vinyl ester Market Competitive Landscape

The competitive landscape of the global vinyl ester market is characterized by the presence of major international companies focused on innovation, strategic partnerships, and product expansion. Key players include Ashland Global, Reichhold, Hexion, Polynt, and DSM. These companies lead through advancements in resin formulations, focusing on enhancing durability, corrosion resistance, and sustainability. Their strong R&D capabilities and wide geographical presence allow them to capture a significant share, particularly in high-growth sectors such as marine, automotive, and construction.

Top Players in Vinyl ester Market

  • Bayer AG (Germany)
  • Covestro AG (Germany)
  • BASF SE (Germany)
  • U.S. Polychemical Corporation (USA)
  • AkzoNobel N.V. (Netherlands)
  • Huntsman Corporation (USA)
  • LANXESS AG (Germany)
  • Mitsubishi Chemical Corporation (Japan)
  • Wanhua Chemical Group Co., Ltd. (China)
  • LG Chem Ltd. (South Korea)
  • China National Petroleum Corporation (CNPC) (China)
  • Dow Inc. (USA)
  • SABIC (Saudi Arabia)
  • Formosa Plastics Corporation (Taiwan)
  • Shandong Xinhua Pharmaceutical Company Limited (China)

Recent Developments

  • In June 20204, Ashland Global has announced an advanced vinyl ester resin formulation, which aims to enhance corrosion resistance for marine structures. The resin provides enhanced durability in harsh environments, making it ideal for offshore and shipbuilding applications. This innovation supports Ashland’s commitment to offering high-performance solutions for the marine industry.
  • In November 2023, Reichhold announced the launch of a new line of vinyl ester resins aimed at enhancing the sustainability of industrial applications. The resins are produced with renewable feedstocks, significantly lowering environmental impact without compromising superior mechanical properties. It aligns well with Reichhold's efforts in meeting the rising demand for environmentally friendly materials.
  • In February 2023, Hexion unveiled a new vinyl ester resin designed for use in the automotive and aerospace industries. Its benefits include higher-impact resistance as well as stability in high thermal conditions, fitting for high performance composites. This product shall complement Hexion's portfolio. Advanced manufacturing places increasing demand upon lightweight and resistant materials.

Vinyl ester Key Market Trends

Vinyl ester Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, significant growth in the global vinyl ester industry is noted, especially on account of the innovations that resin formulations have gone through lately in terms of requirements for durability, corrosion resistance, and sustainability. The growing attention to the production of environment-friendly materials, with the continuous innovation in sectors like marine and wind energy, tends toward more efficient, cost-effective alternatives.

The dominance of segments like pipes and tanks, along with the emergence of renewable energy trends and improvements in resin technology, are bound to drive the demand for vinyl ester resins forward. As regional markets expand in North America and Asia-Pacific, these developments will spur significant market opportunities in the coming years.

Report Metric Details
Market size value in 2023 USD 1 Billion
Market size value in 2032 USD 1.47 Billion
Growth Rate 4.4%
Base year 2024
Forecast period (2025-2032)
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Bisphenol A, Novolac, Brominated Fire Retardant, Elastomer-Modified, and Other Product Types
  • End-Use Industry
    • Pipes & Tanks, Marine, Wind Energy, FGD & Precipitators, Building & Construction, Land Transportation, Aerospace & Defense, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Bayer AG (Germany)
  • Covestro AG (Germany)
  • BASF SE (Germany)
  • U.S. Polychemical Corporation (USA)
  • AkzoNobel N.V. (Netherlands)
  • Huntsman Corporation (USA)
  • LANXESS AG (Germany)
  • Mitsubishi Chemical Corporation (Japan)
  • Wanhua Chemical Group Co., Ltd. (China)
  • LG Chem Ltd. (South Korea)
  • China National Petroleum Corporation (CNPC) (China)
  • Dow Inc. (USA)
  • SABIC (Saudi Arabia)
  • Formosa Plastics Corporation (Taiwan)
  • Shandong Xinhua Pharmaceutical Company Limited (China)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Vinyl ester Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Vinyl ester Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Vinyl ester Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vinyl ester Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vinyl ester Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Vinyl ester Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Vinyl Ester Market size was valued at USD 1 Billion in 2023 poised to grow from USD 1.04 Billion in 2024 to USD 1.47 Billion by 2032, growing at a CAGR of 4.4% in the forecast period (2025-2032).

The competitive landscape of the global vinyl ester market is characterized by the presence of major international companies focused on innovation, strategic partnerships, and product expansion. Key players include Ashland Global, Reichhold, Hexion, Polynt, and DSM. These companies lead through advancements in resin formulations, focusing on enhancing durability, corrosion resistance, and sustainability. Their strong R&D capabilities and wide geographical presence allow them to capture a significant share, particularly in high-growth sectors such as marine, automotive, and construction. 'Bayer AG (Germany)', 'Covestro AG (Germany)', 'BASF SE (Germany)', 'U.S. Polychemical Corporation (USA)', 'AkzoNobel N.V. (Netherlands)', 'Huntsman Corporation (USA)', 'LANXESS AG (Germany)', 'Mitsubishi Chemical Corporation (Japan)', 'Wanhua Chemical Group Co., Ltd. (China)', 'LG Chem Ltd. (South Korea)', 'China National Petroleum Corporation (CNPC) (China)', 'Dow Inc. (USA)', 'SABIC (Saudi Arabia)', 'Formosa Plastics Corporation (Taiwan)', 'Shandong Xinhua Pharmaceutical Company Limited (China)'

The need to have corrosion resistance materials in difficult environments like those in chemical process, marine construction industries drive this global vinyl ester market growth. Vinyl ester resins are exceptional agents that can perform well under extremely harsh conditions characterized by chemical interaction, moisture, among others, meaning they can give durable, lasting applications in many of these segments.

Rising Demand for Sustainable Materials in Manufacturing: A growing trend in the global vinyl ester market is the increasing preference for eco-friendly and sustainable materials. Manufacturers look for resin formulations that are sourced from renewable resources, reducing environmental impact, thereby driving innovation in green chemistry solutions and eco-conscious production practices across industries.

North America is dominating the global vinyl ester market due to its well-established industrial base, strong demand across key sectors like automotive, construction, marine, aerospace, and significant investments in innovation and manufacturing. This is due to the region boasts cutting-edge technological infrastructure and includes a high-performance material focus that has accelerated the take up of vinyl ester resins, especially for use in applications demanding superior corrosion resistance and durability. North America is also committed to sustainability and hosts major market players as well as having strict rules and regulations which drive the evolution of materials, propelling it further into the market hub for growth and innovation.

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Vinyl ester Market

Report ID: SQMIG15A2472

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