The Asia Pacific is expected to hold a dominant position in the global Corrosion Resistant Resin Market owing to rapid growth in the manufacturing sector

 


Increasing demand from oil & gas, automotive, and marine industries is fostering the growth of the Corrosion Resistant Resin Market. They are resistant to solvents, moisture, chemicals, and high temperature which is gaining their demand from the above-mentioned industries. Moreover, the growing demand for composite materials is another key factor driving the growth of the Corrosion Resistant Resin Market. Carbon steel and aluminum are being widely replaced by composites due to advantages such as cost-effectiveness and low maintenance which is again fostering the growth of the corrosion-resistant resin market. Furthermore, high demand from the chemical industry is further projected to augment the growth of the market.

On the other hand, fluctuating price of raw materials is expected to hinder the growth of the market over the forecast period.

  1. In April 2018, Ashland Inc. launched Derakane Signia a new resin for corrosion-resistant GFRP pipes and tanks used in different industries such as mineral processing, chemical processing, water treatment, and air pollution control

  2. In March 2017, Evonik has introduced ALBIDUR 1223 to the market a product that ensures long-term coating flexibility. It is used as a co-binder in anti-corrosion paints and coatings

  3. In April 2021, Evonik has developed two photopolymers for industrial 3D printing applications and introduces them under the brand names INFINAM® TI 3100 L and INFINAM® ST 6100 L.

Corrosion resistant resin is an extremely long-lasting high-quality resin with many unique physical, chemical, and mechanical properties that have the potential to make its own unique mark on industry-wide materials. Corrosion resistance is one of the main criteria for selecting raw materials. The resin itself will resist corrosion of all kinds of metals that are placed upon it if the proper procedures are employed to cure the resins properly. This ensures that the product or material that has been placed upon it will not suffer any harm from the corrosion that could occur if the material is not properly protected from the elements.

The Asia Pacific is expected to hold a dominant position in the global corrosion resistant resin market owing to rapid growth in the manufacturing sector. According to India Brand Equity Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry, Government of India—Indian construction Industry is projected to be valued at US$ 5 billion, creating a highly conducive environment for the growth of the market.


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