Vinyl Ester Market - Forecasts from 2025 to 2030

The vinyl ester market is expected to grow at a CAGR of 6.29%, reaching a market size of US$2.248 billion in 2030.

Vinyl ester is a resin produced by esterifying an epoxy resinwith acrylic and methacrylic. It is used in the production of high-performance composites, coatings, and adhesives that provide superior corrosion, chemical, and water resistance compared to polyester resins. Its exceptionally good mechanical properties and excellent durability, even in harsh environments, make it the most commonly used across various industries, such as marine, automotive, and construction.

Additionally, the increasing use of vinyl ester for various applications, such as fiber-reinforced plastic tanks and vessels, coupled with the rising application of corrosion-resistant equipment, is anticipated to propel its market in the projected period. The growing marine, automotive, and construction industries are expected to be among the major consumers of the vinyl ester market in the forecasted period. For instance, according to the United Nations Conference on Trade and Development (UNCTAD), the marine trade volume dipped by 0.4% in 2022 but grew by 2.4% in 2023, and the growth for this sector is anticipated to be above 2% by 2028. With global trade expansion, emerging markets are expected to grow in the projected period. This, in turn, is expected to impact the shipping industry and influence the vinyl ester market growth.

Vinyl ester market drivers

• The growing demand for vinyl ester in the construction and infrastructure development sector is expected to influence the market for vinyl ester in the projected period. The growing construction sector is anticipated to influence the market demand in the coming years. For instance, according to the Associated General Contractors (AGC) of America, Inc., there were more than 919,000 construction establishments in the United States in the first quarter of 2023. The industry employs 8.0 million people and creates nearly US$2.1 trillion worth of structure every year. Similarly, according to the National Bureau of Statistics of China, the value added of construction enterprises in China was 8.33 trillion yuan in 2022, which was 5.5% higher compared to 2021.
• The lightweight, high-strength properties of vinyl ester support the application of the material in vehicle and aircraft composites to save fuel, thus enhancing their performance. The electric vehicle segment is increasingly using vinyl ester as it helps improve the efficiency and performance of vehicles by reducing the overall weight, resulting in increases in the range of the battery and energy efficiency. The increasing demand for electric vehicles in various countries is anticipated to propel the market for vinyl ester in the projected period. For instance, according to the Society of Manufacturers of Electric Vehicles (SMEV), the total number of EV 2-wheelers, 3-wheelers, 4-wheelers, and e-buses in the country in 2021-22 was 445,001, which increased to 1,179,419 in 2022-23, and in 2023-24 the total number of these vehicles reached to 1,670,736.

Vinyl ester market geographical outlook

The North American region is anticipated to hold a significant share in the coming years.

The North American region is expected to dominate the vinyl ester market as North America is a major hub for various sectors such as chemical processing, construction, and marine industry. Additionally, the region's increasing interest in recycled and bio-based vinyl ester coupled with increasing research and development in this field is expected to influence the market for vinyl ester in the region in the forecasted period.

The Asia-Pacific vinyl ester market is anticipated to grow with the fastest CAGR in the projected period, as China is one of the major consumers of vinyl ester, with increasing development in the construction sector, and automotive sector coupled with the increasing investment in the petrochemical sector is anticipated to influence the market for vinyl ester in China. For instance, according to the International Trade Administration (ITA), both annual sales, and manufacturing output of domestic production is anticipated to reach 35 million by 2025.

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Report Coverage:

• Historical data & forecasts from 2022 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
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• Revenue Growth and Forecast Assessment of segments and regions including countries
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The Vinyl Ester Market is segmented and analyzed as follows:

By Type:

• Bisphenol-A (BPA)
• Novolac
• Brominated Fire Retardant
• Others

By Application:

• Pipes & Tanks
• Paints & Coatings
• Transportation
• Pulp & Paper
• Others

By Geography:

• North America
• South America
• Europe
• Middle East and Africa
• Asia-Pacific