Vinyl ester resins are a hybrid of polyester and epoxy resins and are produced by the esterification of epoxy resin with an unsaturated monocarboxylic acid. They comprise a polyester resin base which is strengthened with epoxy resin molecules in the molecular chain. Vinyl ester resins are resistant to water penetration and shock damage and are primarily used in corrosion applications like pipes & tanks and marine.

The extensive use of vinyl ester in pipes & tanks in various industries like chemicals and water & wastewater is the primary driver for the vinyl ester market. Growing environmental awareness has also increased the use of vinyl ester in FGD applications. The increasing use of vinyl ester in mass transit and railways is another driver for the market. The bisphenol A segment is estimated to be the largest type segment of the vinyl ester market from 2017 to 2022. Bisphenol A vinyl ester resins are used in a host of chemical applications and FGD processes owing to their corrosion resistance property. The marine industry mostly uses vinyl ester resins as barrier coats, gel coats, and in the main composite body of ships. The pipes & tanks segment is estimated to be the largest end-use segment of the vinyl ester market in 2017. Vinyl ester is used in high-temperature formulations, such as chemical storage vessels and chemical reactors. It is also used in electro-refining tanks and as topcoats for metal containers. Asia Pacific is expected to be the fastest-growing market for vinyl ester during the forecast period, owing to the high demand from the various industries in China, such as water & wastewater treatment, chemical, pharmaceutical, food processing, and transportation. Environmental regulations on harmful emissions have also increased the demand for FGD systems, which use vinyl ester linings for protection from corrosion. The low shelf life of vinyl ester resins acts as a restraining factor for the vinyl ester market. Government regulations regarding the VOC content of vinyl ester is another restraining factor for the market.

Vinyl Ester Market vendors are placed into 4 categories based on their performance and reviews in each criterion: “visionary leaders,” “innovators,” “dynamic differentiators,” and “emerging companies".

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.