The size of the Global Market was around USD 7.46 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 5.72 % to reach close to USD 9.85 Billion in the forecast, as mentioned earlier period.The Corrosion Resistant Resin Market has a decent growth pace in the global market, which is driven by the demand for epoxy resin which is expected to help the growth of the global market in the forecast period. The Corrosion Resistant Resin Market is expected to reach a total of USD 9.85 Billion with a 5.72 % CAGR.
Wessex, a major resin & adhesives-based company, has announced to launch their new online store for ordering some unique range of bio-based epoxy, in Europe. This is expected to bring some dynamic shift to the corrosion-resistant resin market in this region.
Corrosion Resistant Resin Market Drivers and Restraints:
The global market is mainly driven by the demand for epoxy resin, which is expected to help the growth of the global market in the forecast period. Also, the rising demand in the oil & gas industry and the use of Corrosion Resistant Resin in it helps in the growth of the Corrosion Resistant Resin market.However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Corrosion Resistant Resin Market Segmentation Analysis:
By Type
Based on the type of resin, the global market is segmented into Epoxy and Polyester. Among the mentioned types of resin, the epoxy segment is the largest and is expected to have the fastest growth rate in the proposed forecast period. The growth is mainly attributed to the demand form the coating and composites application which use epoxy resins.
By Application
Based on the application of the resin, the global market is categorized into Coatings, Composites. Of the mentioned applications, the coatings segment is expected to lead the global market and have the fastest growth rate. This growth is mainly attributed to the increase in lightweight materials from the automobile industry.
By End-Use Industry
Based on the end-use industry, the global market is divided into Oil & Gas, Heavy industries, Automotive & transportation. Of the mentioned industries, the oil and gas segment is the largest and is anticipated to have the fastest growth in the projected forecast period. The increase is mainly attributed to the use of epoxy resins in this segment, which is the leading segment of resins in the global market.
Corrosion Resistant Resin Market Geographical Analysis:
By geography, the market is segmented as Europe, Asia Pacific, Latin America, North America, and Middle-East & Africa. The Asia Pacific region holds the largest share of the Global Market in the year of 2018, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the global market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period.North America is next in the lead of the Global Corrosion Resistant Resin Market by both value and bulk, as of 2018. The situation of most of the key players in the global market in North America is the main reason for its market position. This region has the third-fastest growth rate on a worldwide scale.Europe is next in the lead of the global market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Corrosion Resistant Resin Market in this region. This region is the third fastest-growing region in the global market in the projected forecast period.On the other hand, the Middle East & Africa and Latin America regions, being in the slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Corrosion Resistant Resin Market Key Market Players:
By the end of 2018 Ashland Inc. (U.S.), BASF SE (Germany), Scott Bader Company Limited (U.K.), Reichhold LLC (U.S.), Huntsman Corporation (U.S.), GE Plastics Hexion Inc. (U.S.), and Eastman Chemical Company (U.S.) are the leading shareholders of the global market for Corrosion Resistant Resin Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Corrosion Resistant Resin Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Epoxy
5.1.3 Polyester
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Application
5.2.1 Introduction
5.2.2 Coatings
5.2.3 Composites
5.2.4 Y-o-Y Growth Analysis, By Type
5.2.5 Market Attractiveness Analysis, By Type
5.2.6 Market Share Analysis, By Type
5.3 End-Use Industry
5.3.1 Introduction
5.3.2 Oil & gas
5.3.3 Heavy industries
5.3.4 Automotive & transportation
5.3.5 Y-o-Y Growth Analysis, By Application
5.3.6 Market Attractiveness Analysis, By Application
5.3.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Application
6.1.3.4 By End-Use Industry
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Application
6.1.4.4 By End-Use Industry
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Application
6.1.5.4 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Ashland Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 BASF SE
8.3 Scott Bader Company Limited
8.4 Reichhold LLC
8.5 Huntsman Corporation
8.6 GE Plastics Hexion Inc.
8.7 Eastman Chemical Company
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
