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. In April 2018, Ashland Inc. launched Derakane Signia a new resin for corrosion-resistant GFRP pipes and tanks used in