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Corrosion Resistant Resin Industry Analysis and Global Forecast to 2025

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 Global Corrosion Resistant Resin Market is expected to reach USD 11.50 billion by 2025, according to a new report by Grand View Research, Inc.
 

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.

Composites is the fastest-developing application segment and expected to surpass USD 2,915.5 million by 2025. 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.

To Know More About Corrosion Resistant Resin Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/corrosion-resistant-resin-market

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.

Top Players of Corrosion Resistant Resin Market:

Major players such as BASF SE, Hunstman Corporation, Eastman Chemical Company, Ashland Inc., Scott Bader Company Limited, and Aditya Birla Chemicals dominated the global corrosion resistant resin market in 2016.

Market Segmentation of Corrosion Resistant Resin Market:

The Global Corrosion Resistant Resin Market segmented on the basis of Product, Application, End-Use Industry, and Region.

By Product:

    Epoxy
    Polyurethanes
    Polyester
    Vinyl ester

By Application:

    Coating
    Composites

By End-Use:

    Chemical
    Marine
    Oil and gas
    Automobile

Inquire about Corrosion Resistant Resin Market with Our Experts @ https://www.grandviewresearch.com/inquiry/4590

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