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Vinyl Ester Market to show lucrative gain by 2024, Pulps and paper industry has witnessed considerable growth

Author : Ravi Chawat | Published Date : 2020-09-25 

Estimates claim that global vinyl ester market size will hit US$1.7 billion in yearly revenues by 2025. Pulps and paper industry has witnessed considerable growth and changes over the past several years and has showcased tremendous demand for vinyl ester-based fiber-reinforced plastics. The resin is known to resist corrosive chemicals and serve as an alternative to the conventional metals and coatings for the process fluid surroundings in the pulp and paper industry.

Escalating demand for renewable sources of energy due to the rising carbon emission levels and strict regulations established by the governments to use sustainable sources of power has propelled advancements in industries such as the wind energy sector. According to a recent report, power plants are responsible for nearly 30% of the total carbon emissions, primarily due to the rise in demand for electricity from residential, commercial, and industrial sectors.

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Reportedly, in the year 2019 the U.S. wind industry added nearly 9,132 MW of new wind capacity, and another 1,821 MW was added during the first quarter of 2020. The country now observes a total combined capacity of around 107,443 MW operating across the region in 41 states. The wind power capacity in the country has tripled over the year and is now the largest renewable source of power in the country.

With the fortification of fiberglass, vinyl esters have been fabricated into corrosion-resistant and lightweight piping, ductwork, tanks, scrubbers, and hoods. Along with the aforementioned features they also cost less when compared to stainless steel and exotic alloys in pipes and tanks applications. These esters are unaffected by crevice corrosion and are also resistant to extreme pH levels present in both ambient and elevated temperatures.  

Vinyl ester market share is expected to witness significant gains from pipes and tanks applications, such as the fabrication of fiber-reinforced plastic storage tanks, vessels, and ducts. In terms of the type of product, bisphenol-A vinyl esters led the industry size in the year 2017 and is likely to follow the same trends in the coming years. However, Novolac type vinyl esters have showcased improved resistance in the liquid environment and have also been widely adopted across various industries.

On account of rapid developments in the shipbuilding industry, Asia Pacific vinyl ester market, led by South Korea and China, has displayed considerable demand for the product from the marine applications. The high import and export of goods in the region over the past several years has amplified developments in the shipping sector.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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