SELBYVILLE, Del., May 26, 2021 /PRNewswire/ — Based on the Global Market Insights Inc. report, the global Vinyl Ester Market was valued at $1,092.7 million in 2020 and is slated to exceed $1.7 billion by 2027, registering a CAGR of 6.7% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, and competitive scenarios.
The product demand for FGD & precipitators was valued at USD 110 million in 2020 and is likely to reach USD 175 million by 2027, with a CAGR of 7% during the forecast period. Increasing environmental awareness and regulations across the globe are anticipated to drive the FGD (flue gas desulfurization) systems demand over the forecast period. Vinyl ester linings are used in FGD for protection from corrosion.
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Brominated fire retardant accounted for over a 15% share in 2020 and is anticipated to reach USD 275 million by 2027 with a CAGR of 7.1% during the forecast period. Brominated fire retardant vinyl esters are developed for application where corrosion resistance and heat resistance with ideal fire retardancy are required at the same time.
Latin America generated a revenue of USD 55 million in 2020. Economic development in the region may in the future open new growth avenues for the leisure boating market, which, in turn, will provide significant opportunities for vinyl esters in the marine sector. The rise in trades between Latin America and the Far East could propel the marine trade in the region.
The Middle East/Africa vinyl ester market is forecast to reach USD 72 million by 2027. The major countries in the leisure boating activities in this region include South Africa, the GCC countries such as the UAE, Saudi Arabia, Oman, and Qatar. Growth in the leisure boating market will further propel the vinyl ester market growth for marine applications by 2027.
Ongoing investments in large-scale infrastructure and building projects will provide significant opportunities for vinyl esters in the region. Development of the downstream petrochemical industry by the Middle East government will propel the vinyl ester market over the forecast timeframe.
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Key manufacturers operating in the vinyl ester industry include Ashland, Inc.; Swancor Holding; ALIANCYS AG; Polynt-Reichhold Group; Hexion; DIC Corporation; Interplastic Corporation; AkzoNobel; Nivitex Fibreglass and Resins; SIR INDUSTRIALE S.p.A.; and Scott Bader Company Ltd.
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Vinyl Ester Market Statistics – 2027
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SOURCE Global Market Insights Inc.