Corrosion Resistant Resin Market To Reach $11.50 Billion By 2030

Corrosion Resistant Resin Market Growth & Trends

The global corrosion resistant resin market size is expected to reach USD 11.50 billion by 2030 and is expected to grow at a CAGR of 4.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The modernization of construction industry is a huge development figure, which is driving the overall market advancement of corrosion resistant resins. Corrosion resistant resins are utilized as a part of end-use industries, for instance, in chemical processing, marine, car, oil and gas, and others. Therefore, the increasing use of corrosion resistant resins in the end-use industry is positively affecting the market. The preference for corrosion resistant resins market can be attributed to erosion in structures, hardware, and apparatuses, especially from the substance business plants; particularly parts, for example, boilers, radiators, pumps, and smokestacks. 

Expanding penetration of composites in the corrosion-resistant applications, for example, sewage, water system, chemical, and oil and gas is expected to increase their demand in the corrosion-resistant resin market. The improvement of new composite applications in various enterprises in creating economies and an expected recovery of oil & gas drilling activities in the upcoming years are the real development drivers adding to a sound interest for corrosion-resistant resins in the composites business.

Epoxy is a widely used material for corrosion resistant resin applications and progressively used owing to its excellent properties, such as corrosion resistance, low cost, and easy application. It is expected to lead the corrosion resistant resin market growth over the forecast period. 

Oil & gas end-use industry use corrosion resistant resin on a large scale. Monetary losses due to corrosion can be high. Therefore, corrosion resistant resins are used in the form of coatings and composites in the oil & gas equipment.  Due to its highly structured composition, it is a particularly effective barrier to protect metals against attack by corrosive substances such as hydrogen sulfide, carbon dioxide, and sea water, thus leading to increased demand for corrosion resistant resin in oil & gas industry.

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Corrosion Resistant Resin Market Report Highlights

• The coating segment dominated the market and accounted for the largest revenue share in 2023. The epoxy segment dominated the market and accounted for the largest revenue share of 39.4% in 2023

• The chemical segment is expected to grow at a significant CAGR over the forecast years.

• The oil & gas segment dominated the market and accounted for the largest revenue share in 2023

• Asia Pacific corrosion-resistant resin market dominated the global market with a market share of 44.2% in 2023

Corrosion Resistant Resin Market Segmentation

Grand View Research has segmented the global corrosion-resistant resin Market report based on type, end use, application, and region:

Corrosion-resistant Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Epoxy

• Polyurethanes

• Polyester

• Vinyl ester

• Others

Corrosion-resistant Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Coating

• Composites

Corrosion-resistant Resin End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Chemical

• Marine

• Oil & Gas

• Automobiles

• Others

Corrosion-resistant Resin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Indonesia

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Corrosion Resistant Resin Market

• Ashland

• Huntsman International LLC.

• Hexion Inc.

• Reichhold LLC

• Scott Bader Company Ltd.

• AOC

• Olin Corporation

• Sino Polymer Co., Ltd.

• SWANCOR

• Grasim Industries Limited (India) and Aditya Birla Chemicals (Thailand) Pvt. Ltd

• TotalEnergies

• Allnex GMBH

• BASF SE