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세계의 비닐에스테르 시장 : 성장, 동향, 예측(2020-2025년)

Vinyl Ester Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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발행일 2021년 03월 상품 코드 925555
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세계의 비닐에스테르 시장 : 성장, 동향, 예측(2020-2025년) Vinyl Ester Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
발행일 : 2021년 03월 페이지 정보 : 영문

본 상품은 영문 자료로 한글과 영문목차에 불일치하는 내용이 있을 경우 영문을 우선합니다. 정확한 검토를 위해 영문목차를 참고해주시기 바랍니다.

세계의 비닐에스테르(Vinyl Ester) 시장은 2020-2025년 3%의 CAGR로 추이할 것으로 예측됩니다. 시장의 성장을 촉진하는 주요 요인은 섬유강화 플라스틱 탱크의 제조에서의 용도 확대와 내식성을 필요로 하는 용도의 증가입니다. 그러나 비닐에스테르의 짧은 수명은 시장의 성장을 저해하는 요인이 될 것으로 예상됩니다.

  • FRP 탱크 및 기타 화학 처리 장비의 제조에서의 응용이 시장을 지배하고, 화학 산업으로부터의 수요 증가에 의해 시장이 성장할 것으로 예상되고 있습니다.
  • 비닐에스테르제 탱크, 용기 및 파이프 등의 화학 산업 장비는 부식에 저항하기 위해 사용되며, 이에 의해 장비의 스팬이 증가합니다.
  • 인도, 중국, 일본이 주요 소비국이며, 아시아태평양이 비닐에스테르 시장을 지배했습니다.

세계의 비닐에스테르 시장을 조사했으며, 시장의 개요, 제품 유형·용도·지역별 시장 규모의 추이와 예측, 시장 동향, 시장 성장요인 및 저해요인 분석, 시장 기회, 경쟁 구도, 주요 기업의 개요 등의 정보를 정리하여 전해드립니다.

목차

제1장 서론

  • 조사의 전제조건
  • 조사 범위

제2장 조사 방법

제3장 주요 요약

제4장 시장 역학

  • 성장 촉진요인
    • 섬유강화 플라스틱 탱크 및 용기의 제조에서의 용도 확대
    • 내식 장비의 제조에서의 용도 확대
  • 성장 저해요인
    • 비닐에스테르의 짧은 수명
    • 기타
  • 밸류체인 분석
  • Porter's Five Forces 분석
    • 신규 진출의 위협
    • 바이어의 교섭력
    • 공급업체의 교섭력
    • 대체품의 위협
    • 경쟁
  • 수출입 동향
  • 원료 분석
  • 기술 스냅숏
  • 가격 분석

제5장 시장 세분화

  • 유형별
    • Bisphenol A Diglycidyl Ether(DGEBA)
    • Epoxy Phenol Novolac(EPN)
    • 기타
  • 적용별
    • 파이프, 탱크, 선박
    • 화학 프로세스 장비
    • 자동차
    • 기타
  • 지역별
    • 아시아태평양
    • 북미
    • 유럽
    • 남미
    • 중동·아프리카 지역

제6장 경쟁 구도

  • 합병과 인수, 합병사업, 협업 및 계약
  • Market Share/Ranking Analysis**
  • 주요 기업이 채택한 전략
  • 기업 개요
    • Bkdj Polymers India
    • DIC CORPORATION
    • Interplastic Corporation
    • Mechemco
    • Poliya
    • Polynt
    • SHOWA DENKO KK
    • Scott Bader Company Ltd.
    • Sino Polymer Co. Ltd
    • Swancor

제7장 시장 기회 및 향후 전망

  • FGD(Flue Gas Desulphurization )에서 성장하는 애플리케이션
  • 기타
KSA 20.05.26

The market for Vinyl Ester is valued at USD 941.34 million in 2020 and is expected to grow at a CAGR of over 4.66% during the forecast period (2021-2026). Major factors driving the market studied are growing application in the manufacture of fiber-reinforced plastic tanks & vessels and increasing application in making corrosion-resistant equipment. On the flip side, the impact of COVID-19 is hindering the growth of the market studied.

  • The growing application in flue gas desulphurization is expected to offer various opportunities for the growth of the market studied over the forecast period.
  • In the chemical industry equipment like tanks, vessels, and pipes made of vinyl ester are used to resist corrosion thereby increasing the lifespan of the equipment.
  • Asia-Pacific region dominated the market for vinyl ester with China, India, Japan being the major contributors to the market demand.

Key Market Trends

Pipes and Tanks Segment to Dominate the Market

Over the past several years, the corrosion industry has been replacing traditional materials used to build piping and tanks with composites, such as polyester and vinyl ester resins. The reason for this transition is the continual degradation of traditional materials when exposed to the harsh chemicals and high temperatures of the corrosion industry over a long period. To avoid losing a large amount of time to maintenance and repairs, the corrosion industry is choosing composite materials that are resistant to corrosion and can withstand high temperatures without losing their strength or durability. The fiber-reinforced plastic (FRP) application in pipes and tanks has been rising in recent years. Vinyl ester resins are widely used in many industries due to their superior chemical resistance and low permeability. They are being extensively used to fabricate fiber-reinforced plastic (FRP) storage tanks, pipelines, and duck systems. The pipes and tanks segment is estimated to have the largest share in the vinyl ester market.

Vinyl ester-based FRP pipes and tanks are widely used in industries such as the Chlor-alkali and chemical industry, power generation industry, mining and metal industry, industrial water and wastewater industry, food processing industry, and pulp and paper industry. In the Chlor-alkali and chemical industry, vinyl ester-based FRP products are used in pipes and tanks as they possess high chemical resistance require low maintenance. These pipes are also used in soda ash plants. The United States and China are the major chemical producers in the world. China, the global leader in chemical production, has been witnessing a slowdown in the growth of its chemical output. China's trade war with the United States is one of the major reasons behind this decline. The US chemical output increased by around 3.1% in 2018 and around 3.6% in 2019, according to the American Chemistry Council. The otal chemical production in the United States, excluding pharmaceuticals, fell by 3.6% in 2020. However, it is expected to grow by 3.9% in 2021. In the medium-term, the chemical industry is expected to experience a moderate growth.

Vinyl ester-based FRP pipings are used for many applications in the power industry. Some of these include slurry piping, FGD absorber spray headers, sea water cooling, circulating water systems, SO2 ducts, stacks and chimney liners, cooling tower pipe, process vessels, and storage tanks. In the early part of the last decade, coal-fired power plants were beginning to retrofit with flue gas desulphurization (FGD) absorbers to remove the SO2 exhaust gases released to the atmosphere. This required significant amounts of FRP piping. These absorbers utilized limestone slurry to scrub the gases and therefore required FRP pipes that were resistant to abrasions and corrosion. This provided a huge demand for vinyl ester from the power generation industry.

Vinyl ester-based pipes are also popular in industrial wastewater applications, as they reduce long-term maintenance and pump operating costs. The wastewater industry, especially the industrial wastewater industry, is growing at moderate to high rate, owing to stringent government regulations in the places like China and India. This has positively affected the demand for vinyl ester-based pipes, driving the demand for vinyl esters. In the pulp and paper industry, processing wood to paper requires the use of highly corrosive chemicals such as acids, alkalis, bleaches, and salt. Throughout the mill, specially-designed processing equipment is used, to withstand a variety of harsh chemical environments. These requirements have pushed the pulp and paper industry to adopt epoxy vinyl ester resin-based FRP pipes, as they are cost-effective and corrosion-resistant alternatives for the process-fluid environments in which conventional metals and coatings struggle. For most of 2020, the pulp and paper industry experienced fluctuations in different segments due to COVID-19. While there is still a low growth rate in North America, the industry picked up in Asia-Pacific in the final quarter of 2020. These factors are expected to influence the demand for the market studied in this application segment.

China to Dominate the Asia-Pacific Market

In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbances caused due to its trade war with the United States. Although China was the first country affected by COVID-19 and its related lockdown, it was the first country to come out of the lockdown. However, the country has been witnessing recurring cases of COVID-19, leading to brief lockdowns occasionally. The manufacturing sector in the country has taken a major hit in Q1 2020, subsequently leading to a 6.8% drop in GDP, the lowest ever witnessed in years. However, the country has been focusing on several measures, such as tax breaks and other incentives, to enhance economic recovery. In Q2 2020, China's GDP recorded a growth rate of 3.2%, indicating signs of a V-shaped recovery.

According to China National Petroleum Corp. (CNPC), the gas consumption in China was expected to rise to 320 billion cubic meters (BCM) in 2020; however, COVID-19 has disrupted the economic activities, thereby affecting the gas demand in the domestic market. But considering the scope of market demand, gas consumption is expected to surge to around 600 BCM by 2040. In order to meet the growing gas demand, the country is planning to double its gas production to 325 BCM by 2040. With such future plans, the country is likely to witness numerous pipeline construction projects over the long run, which is further expected to create a market for pipes, tanks and vessels used in the petrochemical refinery units. Besides, there are numerous chemical plants lined up for construction within the period of the next five years in the country. For instance, in November 2019, BASF started construction of its USD 10 billion integrated petrochemicals project, located in the southern province of Guangdong in China. The plant is expected to produce various plastics, along with other petrochemical products used in industries, such as automotive, electronics, and new energy vehicles.

China is the world's largest automotive producer. However, in 2018, the country witnessed a 4.16% decline in vehicles production, accounting for 27,809,196 units of motor vehicles. The automotive industry's performance was affected by economic shifts and China's trade war with the United States. This trend sustained during 2019 as well, as the domestic automotive production and sales declined by 7.5% and 8.2%, respectively (as shown in the graph here). The production of vehicles in the country is expected to decline by over 5% in 2020. Despite the domestic recovery in the economy in Q2 2020, low consumer confidence and supply chain disruptions remain as the reasons for the downfall in automotive production in 2020.

China continues to dominate, in terms of demand in the market studied, powered by its huge production base for paints and coatings. The country has more than 1/3rd of the global production share. The annual paint production in the country rocketed from 17.6 million metric ton in 2018 to nearly 18.6 million metric ton in 2019. According to European Coatings, there are nearly 10,000 coatings manufacturers located in China. The Chinese paints and coatings production has been showing steady growth over the recent years. Although China is home to a huge number of companies producing paints and coatings, foreign companies and joint ventures also hold a fair share of the market. In addition, many international players are looking to further strengthen their positions through new acquisitions.

COVID-19 presented a problematic situation for the vinyl ester market in the country. However, currently, the conditions are better, which has concreted the probability of market recovery over the forecast period.

Competitive Landscape

The vinyl ester market is partially consolidated, with top players holding a significant share. The top five players account for a share of more than 60% of the total market. Some of the major players include Polynt, INEOS, DIC CORPORATION, Interplastic Corporation, SHOWA DENKO K.K., and Swancor, among others.

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  • The market estimate (ME) sheet in Excel format
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TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Growing Application in the Manufacture of Fiber Reinforced Plastic Tanks and Vessels
    • 4.1.2 Increasing Application in Making Corrosion Resistant Equipment
  • 4.2 Restraints
    • 4.2.1 Impact of COVID-19
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Degree of Competition
  • 4.5 Import-Export Trends
  • 4.6 Feedstock Analysis
  • 4.7 Technological Snapshot
  • 4.8 Price Analysis

5 MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Bisphenol A Diglycidyl Ether (DGEBA)
    • 5.1.2 Epoxy Phenol Novolac (EPN)
    • 5.1.3 Other Types
  • 5.2 Application
    • 5.2.1 Pipes and Tanks
    • 5.2.2 Paints and Coatings
    • 5.2.3 Transportation
    • 5.2.4 Other Applications
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
      • 5.3.1.1 China
      • 5.3.1.2 India
      • 5.3.1.3 Japan
      • 5.3.1.4 South Korea
      • 5.3.1.5 Rest of Asia-Pacific
    • 5.3.2 North America
      • 5.3.2.1 United States
      • 5.3.2.2 Canada
      • 5.3.2.3 Mexico
    • 5.3.3 Europe
      • 5.3.3.1 Germany
      • 5.3.3.2 United Kingdom
      • 5.3.3.3 France
      • 5.3.3.4 Italy
      • 5.3.3.5 Rest of Europe
    • 5.3.4 South America
      • 5.3.4.1 Brazil
      • 5.3.4.2 Argentina
      • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
      • 5.3.5.1 Saudi Arabia
      • 5.3.5.2 South Africa
      • 5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Bkdj Polymers India
    • 6.4.2 DIC CORPORATION
    • 6.4.3 INEOS
    • 6.4.4 Interplastic Corporation
    • 6.4.5 Poliya
    • 6.4.6 Polynt
    • 6.4.7 Scott Bader Company Ltd.
    • 6.4.8 SHOWA DENKO K.K
    • 6.4.9 Sino Polymer Co. Ltd
    • 6.4.10 Swancor

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Growing Application in Flue Gas Desulphurization
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