Corrosion Resistant Resin Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Sep 2018 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Resin is highly viscous or solid substance which can be natural or of synthetic origin. Corrosion resistance resins are mainly formulated as isophthalic, vinyl ester, and terephthalic resins to impart desired property of corrosion resistance. They have application in oil & gas, automotive, and marine industries However, corrosion is major challenges faced by manufactures operating in these industries, as it leads to high monetary and property losses across the aforementioned industries. Corrosion resistant resin are gaining traction in these industries, owing to their properties such as resistance to solvents, chemicals, moisture, and high temperature. They have a wide range of application in manufacturing of glass containers, stainless steel, and painted steel.

Increasing demand for composite materials is one of the major factors boosting growth of corrosion resistant resin market. Moreover, conventionally used metals such as carbon steel and aluminum are being replaced by composites due advantages such as cost effectiveness and low maintenance. Corrosion resistance materials have high demand from chemical industry, where losses due to corrosion leads to significant revenue losses. Increasing adoption of corrosion resistant resins in equipment, structures and machineries are expected to drive growth of the market over the forecast period.

Corrosion Resistant Resin Market Taxonomy

On the basis of product type, the corrosion resistant market is segmented into:

  • Epoxy
  • Polyester
  • Vinyl Ester
  • Polyurethane

On the basis of application, the corrosion resistant market is segmented into:

  • Composites
  • Coatings

On the basis of end use industry, the corrosion resistant market is segmented into:

  • Chemical
  • Infrastructure
  • Oil & Gas
  • Marine
  • Food and Beverage
  • Automotive and Transportation
  • Others (power generation, paper and pulp)

Epoxy resin product segment is dominant in the global corrosion resistant resin market, owing to excellent corrosion resistance property, easy application, and affordable cost. Epoxy coatings are widely used to prevent corrosion in manufacturing equipment, tanks for corrosive chemicals, underground storage tanks, industrial scrubbers, effluent management, and pressure transfer pipe. Vinyl resin are used in marine industry to prevent the blistering of the hull ships. Replacing the conventional methods of applying protective paints by resin is increasing rapidly in various end-use industries such as infrastructure, oil & gas, and automotive. This is mainly attributed to the properties of composites such as easy installation, corrosion resistance, and ease of operation at elevated temperatures.

Corrosion Resistant Resin Market Outlook - Increasing Focus on Cutting Losses due to Corrosion Expected to Propel Market Growth

Asia Pacific is expected to be the most potential market for growth of corrosion resistant resin manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Rapidly increasing industrialization, GDP growth, and demand for improved and modern infrastructure in the region is expected to fuel the demand for corrosion resistant resins in the region, which in turn is propelling growth of the corrosion resistant resin market. According to India Brand Equity Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry, Government of India—Indian construction Industry is projected to be valued at US$ 5 billion, creating a highly conducive environment for growth of the market. Moreover, increasing investments in industries such as infrastructure and transportation in emerging economies such as India is expected to boost growth of corrosion resistant resin market. China is leading the market, owing to deep-rooted industrial base. Middle East and Africa are emerging markets for the corrosion resistant resins due to increasing application in oil & gas industry. Europe and North America are expected to exhibit relatively slower growth in market over the forecast period.

However, fluctuating prices of raw material is restraining growth of corrosion resistant resin market over the forecast period. This is mainly due raw materials used for manufacturing corrosion resistant resins comprise majority of petroleum products, which are expensive. Some of the companies operating in the global corrosion resistant resin industry include Reichhold Inc., Huntsman Corporation, Olin Corporation, Scott Bader Company Limited, Ashland Inc., Aditya Birla Chemicals, and Polynt Composites Inc.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.