The composites, which are made from a combination of one or more materials exhibit properties better than the individual materials. Such unique properties in composites are allowing them to rule various industries in terms of applications. Corrosion resistant resin is one such composite, which has also managed to create its space in multiple industries for its effective properties. As the name suggests, the anti-corrosive property of this composite helps in protecting the metal part from tough climatic conditions and increases its life. Now, corrosion being the major factor behind revenue losses in industries such as chemical and shipping, they have welcomed this composite with both hands.
Remarkable Surge in Demand for Epoxy Resin
The major product-variants of corrosion resistant resin are epoxy, polyurethanes, polyester, and vinyl ester. Epoxy Resin is expected to showcase the maximum demand among all, because of its highly useful anti-corrosive property, low cost, and easy application. It is preferably used in industries for coating manufacturing equipment such as tanks, scrubbers, and pipes to prevent them from corrosion. For instance, BASF is planning to build a new plant at its existing site in China. This plant is going to produce Polyetheramine (PEA), which is mainly used as a healing agent in epoxy resin systems.
On the other hand, vinyl ester resin is being used in the shipping industry to paint ships and safeguard them from hull blistering. Rather, there are many more industries such as automotive and oil and gas, which are shifting towards resins for painting and coating purposes instead of the traditional methods. Credit goes to the exceptional properties flaunted by various types of resins.
Market Insights
One of the major factors driving the corrosion resistant resin market is the inflating demand for coatings from major industries, such as marines, automotive, oil and gas, and chemical. All such industries usually face revenue losses due to the corrosion of manufacturing equipment. To avoid such losses, they are shifting towards composites like resins in replacement of the conventional metals like carbon steel and aluminum. According to a recent report by Grand View Research, Inc.; the global market is likely to value USD 11.50 billion by 2025.
Some of the prominent players in the market are BASF SE, Hunstman Corporation, Eastman Chemical Company, and Aditya Birla Chemicals.
In-Depth Research Report On Corrosion Resistant Resin Market:
No comments:
Post a Comment