The Global Corrosion Resistant Resin Market size is expected to reach $12.5 billion by 2031, rising at a market growth of 5.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 2,875.60 kilo tonnes, experiencing a growth of 23.5% (2020-2023).
The chemical industry requires robust materials that can withstand exposure to aggressive chemicals, acids, and alkalis. Corrosion-resistant resins are essential in constructing chemical storage tanks, reactors, and pipelines, where failure due to corrosion can lead to operational inefficiencies and environmental hazards. Therefore, the chemical segment procured nearly 1/4th revenue share in the market in 2023. In terms of volume, 942.73 kilo tonnes of Corrosion Resistant Resin is expected to be utilized in chemical industry by the year 2031. As the chemical industry expands, particularly in emerging markets, the demand for corrosion-resistant resins for protective coatings and composite materials in chemical processing, handling, and storage systems remains strong.
The shift toward automation and advanced manufacturing techniques also amplifies the need for corrosion-resistant materials. Robotics, industrial machinery, and high-tech equipment often operate in environments where corrosion threatens functionality. As industries adopt more automated and high-performance systems, the need for resins that ensure durability and reduce the risk of corrosion will continue to increase. Additionally, the rise of "green building" initiatives, emphasizing energy-efficient and long-lasting materials, supports the growing demand for corrosion-resistant resins. As more sustainable building practices are incorporated into construction standards, resins that offer environmental benefits and contribute to the overall durability of structures will see increased adoption. These trends make corrosion-resistant resins a key component in the construction and infrastructure sectors, driving continued market growth. Therefore, the rising demand for corrosion-resistant materials in industrial applications and growth in infrastructure and construction projects worldwide propels the market's growth.
However, Manufacturers invest in research and development to mitigate these challenges and create more cost-effective formulations. However, this process is time-consuming and requires substantial investment. Until breakthroughs in production technology are achieved, the high cost of corrosion-resistant resins remains a key restraint to the market's full potential. Thus, the high production costs of corrosion-resistant resins are hindering the market's growth.
Type Outlook
Based on type, the market is divided into epoxy, polyurethanes, polyester, vinyl ester, and others. The vinyl ester segment procured 26% revenue share in the market in 2023. In terms of volume, 1,172.51 kilo tonnes of vinyl ester resin would be utilized by the year 2031. Vinyl ester resins are highly valued for their exceptional corrosion resistance, especially in harsh chemical environments, making them ideal for chemical processing, water treatment, and marine applications. Their superior mechanical properties and excellent resistance to water and chemicals contribute to their growing demand, allowing vinyl ester resins to maintain a significant presence in the market.
Application Outlook
On the basis of application, the market is segmented into coating and composites. The coating segment recorded 61% revenue share in the market in 2023. In terms of volume, 2,558.74 kilo tonnes of corrosion resistant resin are expected to be utilized in coating by the year 2031. The widespread use of corrosion-resistant coatings across various industries like construction, automotive, marine, and industrial manufacturing significantly contributed to this dominance. Coatings are primarily employed to protect surfaces from corrosion caused by exposure to chemicals, moisture, and environmental elements.
End Use Outlook
By end use, the market is divided into chemical, marine, oil & gas, automobiles, and others. In 2023, the oil & gas segment registered 29% revenue share in the market. In terms of volume, 1,173.62 kilo tonnes of Corrosion resistant resins are expected to be utilized in oil & gas by the year 2031. This dominance can be attributed to the critical need for corrosion resistance in the oil and gas industry, where equipment and infrastructure are exposed to harsh and corrosive environments. Corrosion-resistant resins are widely used in coatings, linings, and composite materials for pipelines, storage tanks, drilling equipment, and offshore platforms, constantly exposed to aggressive chemicals, moisture, and saltwater.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated 44% revenue share in the market in 2023. The region's rapid industrialization, coupled with the expansion of key sectors such as manufacturing, automotive, oil & gas, and chemicals, has driven significant demand for corrosion-resistant materials. Countries like China, India, Japan, and South Korea are major contributors to the market, with their thriving manufacturing industries requiring corrosion-resistant solutions for machinery, infrastructure, and transportation.
List of Key Companies Profiled
- BASF SE
- Huntsman Corporation
- The Dow Chemical Company
- Solvay SA
- Hexion Inc. (Hexion Intermediate Holding 2, Inc.)
- Sino Polymer Co., Ltd.
- Swancor Holding Co., Ltd.
- Arkema S.A.
- Olin Corporation
- Ashland Inc.
Global Corrosion Resistant Resin Market Report Segmentation
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Coating
- Composites & Other Applications
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Epoxy
- Polyurethanes
- Polyester
- Vinyl Ester
- Other Types
By End User (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Epoxy
- Polyurethanes
- Polyester
- Vinyl Ester
- Other Types
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Corrosion Resistant Resin Market, by Application
- 1.4.2 Global Corrosion Resistant Resin Market, by Type
- 1.4.3 Global Corrosion Resistant Resin Market, by End User
- 1.4.4 Global Corrosion Resistant Resin Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
Chapter 4. Global Corrosion Resistant Resin Market by Application
- 4.1 Global Coating Market by Region
- 4.2 Global Composites & Other Applications Market by Region
Chapter 5. Global Corrosion Resistant Resin Market by Type
- 5.1 Global Epoxy Market by Region
- 5.2 Global Polyurethanes Market by Region
- 5.3 Global Polyester Market by Region
- 5.4 Global Vinyl Ester Market by Region
- 5.5 Global Other Types Market by Region
Chapter 6. Global Corrosion Resistant Resin Market by End Use
- 6.1 Global Oil & Gas Market by Region
- 6.2 Global Chemical Market by Region
- 6.3 Global Marine Market by Region
- 6.4 Global Automobiles Market by Region
- 6.5 Global Other End Uses Market by Region
Chapter 7. Global Corrosion Resistant Resin Market by Region
- 7.1 North America Corrosion Resistant Resin Market
- 7.1.1 North America Corrosion Resistant Resin Market by Application
- 7.1.1.1 North America Coating Market by Region
- 7.1.1.2 North America Composites & Other Applications Market by Region
- 7.1.2 North America Corrosion Resistant Resin Market by Type
- 7.1.2.1 North America Epoxy Market by Country
- 7.1.2.2 North America Polyurethanes Market by Country
- 7.1.2.3 North America Polyester Market by Country
- 7.1.2.4 North America Vinyl Ester Market by Country
- 7.1.2.5 North America Other Types Market by Country
- 7.1.3 North America Corrosion Resistant Resin Market by End Use
- 7.1.3.1 North America Oil & Gas Market by Country
- 7.1.3.2 North America Chemical Market by Country
- 7.1.3.3 North America Marine Market by Country
- 7.1.3.4 North America Automobiles Market by Country
- 7.1.3.5 North America Other End Uses Market by Country
- 7.1.4 North America Corrosion Resistant Resin Market by Country
- 7.1.4.1 US Corrosion Resistant Resin Market
- 7.1.4.1.1 US Corrosion Resistant Resin Market by Application
- 7.1.4.1.2 US Corrosion Resistant Resin Market by Type
- 7.1.4.1.3 US Corrosion Resistant Resin Market by End Use
- 7.1.4.2 Canada Corrosion Resistant Resin Market
- 7.1.4.2.1 Canada Corrosion Resistant Resin Market by Application
- 7.1.4.2.2 Canada Corrosion Resistant Resin Market by Type
- 7.1.4.2.3 Canada Corrosion Resistant Resin Market by End Use
- 7.1.4.3 Mexico Corrosion Resistant Resin Market
- 7.1.4.3.1 Mexico Corrosion Resistant Resin Market by Application
- 7.1.4.3.2 Mexico Corrosion Resistant Resin Market by Type
- 7.1.4.3.3 Mexico Corrosion Resistant Resin Market by End Use
- 7.1.4.4 Rest of North America Corrosion Resistant Resin Market
- 7.1.4.4.1 Rest of North America Corrosion Resistant Resin Market by Application
- 7.1.4.4.2 Rest of North America Corrosion Resistant Resin Market by Type
- 7.1.4.4.3 Rest of North America Corrosion Resistant Resin Market by End Use
- 7.2 Europe Corrosion Resistant Resin Market
- 7.2.1 Europe Corrosion Resistant Resin Market by Application
- 7.2.1.1 Europe Coating Market by Country
- 7.2.1.2 Europe Composites & Other Applications Market by Country
- 7.2.2 Europe Corrosion Resistant Resin Market by Type
- 7.2.2.1 Europe Epoxy Market by Country
- 7.2.2.2 Europe Polyurethanes Market by Country
- 7.2.2.3 Europe Polyester Market by Country
- 7.2.2.4 Europe Vinyl Ester Market by Country
- 7.2.2.5 Europe Other Types Market by Country
- 7.2.3 Europe Corrosion Resistant Resin Market by End Use
- 7.2.3.1 Europe Oil & Gas Market by Country
- 7.2.3.2 Europe Chemical Market by Country
- 7.2.3.3 Europe Marine Market by Country
- 7.2.3.4 Europe Automobiles Market by Country
- 7.2.3.5 Europe Other End Uses Market by Country
- 7.2.4 Europe Corrosion Resistant Resin Market by Country
- 7.2.4.1 Germany Corrosion Resistant Resin Market
- 7.2.4.1.1 Germany Corrosion Resistant Resin Market by Application
- 7.2.4.1.2 Germany Corrosion Resistant Resin Market by Type
- 7.2.4.1.3 Germany Corrosion Resistant Resin Market by End Use
- 7.2.4.2 UK Corrosion Resistant Resin Market
- 7.2.4.2.1 UK Corrosion Resistant Resin Market by Application
- 7.2.4.2.2 UK Corrosion Resistant Resin Market by Type
- 7.2.4.2.3 UK Corrosion Resistant Resin Market by End Use
- 7.2.4.3 France Corrosion Resistant Resin Market
- 7.2.4.3.1 France Corrosion Resistant Resin Market by Application
- 7.2.4.3.2 France Corrosion Resistant Resin Market by Type
- 7.2.4.3.3 France Corrosion Resistant Resin Market by End Use
- 7.2.4.4 Russia Corrosion Resistant Resin Market
- 7.2.4.4.1 Russia Corrosion Resistant Resin Market by Application
- 7.2.4.4.2 Russia Corrosion Resistant Resin Market by Type
- 7.2.4.4.3 Russia Corrosion Resistant Resin Market by End Use
- 7.2.4.5 Spain Corrosion Resistant Resin Market
- 7.2.4.5.1 Spain Corrosion Resistant Resin Market by Application
- 7.2.4.5.2 Spain Corrosion Resistant Resin Market by Type
- 7.2.4.5.3 Spain Corrosion Resistant Resin Market by End Use
- 7.2.4.6 Italy Corrosion Resistant Resin Market
- 7.2.4.6.1 Italy Corrosion Resistant Resin Market by Application
- 7.2.4.6.2 Italy Corrosion Resistant Resin Market by Type
- 7.2.4.6.3 Italy Corrosion Resistant Resin Market by End Use
- 7.2.4.7 Rest of Europe Corrosion Resistant Resin Market
- 7.2.4.7.1 Rest of Europe Corrosion Resistant Resin Market by Application
- 7.2.4.7.2 Rest of Europe Corrosion Resistant Resin Market by Type
- 7.2.4.7.3 Rest of Europe Corrosion Resistant Resin Market by End Use
- 7.3 Asia Pacific Corrosion Resistant Resin Market
- 7.3.1 Asia Pacific Corrosion Resistant Resin Market by Application
- 7.3.1.1 Asia Pacific Coating Market by Country
- 7.3.1.2 Asia Pacific Composites & Other Applications Market by Country
- 7.3.2 Asia Pacific Corrosion Resistant Resin Market by Type
- 7.3.2.1 Asia Pacific Epoxy Market by Country
- 7.3.2.2 Asia Pacific Polyurethanes Market by Country
- 7.3.2.3 Asia Pacific Polyester Market by Country
- 7.3.2.4 Asia Pacific Vinyl Ester Market by Country
- 7.3.2.5 Asia Pacific Other Types Market by Country
- 7.3.3 Asia Pacific Corrosion Resistant Resin Market by End Use
- 7.3.3.1 Asia Pacific Oil & Gas Market by Country
- 7.3.3.2 Asia Pacific Chemical Market by Country
- 7.3.3.3 Asia Pacific Marine Market by Country
- 7.3.3.4 Asia Pacific Automobiles Market by Country
- 7.3.3.5 Asia Pacific Other End Uses Market by Country
- 7.3.4 Asia Pacific Corrosion Resistant Resin Market by Country
- 7.3.4.1 China Corrosion Resistant Resin Market
- 7.3.4.1.1 China Corrosion Resistant Resin Market by Application
- 7.3.4.1.2 China Corrosion Resistant Resin Market by Type
- 7.3.4.1.3 China Corrosion Resistant Resin Market by End Use
- 7.3.4.2 Japan Corrosion Resistant Resin Market
- 7.3.4.2.1 Japan Corrosion Resistant Resin Market by Application
- 7.3.4.2.2 Japan Corrosion Resistant Resin Market by Type
- 7.3.4.2.3 Japan Corrosion Resistant Resin Market by End Use
- 7.3.4.3 India Corrosion Resistant Resin Market
- 7.3.4.3.1 India Corrosion Resistant Resin Market by Application
- 7.3.4.3.2 India Corrosion Resistant Resin Market by Type
- 7.3.4.3.3 India Corrosion Resistant Resin Market by End Use
- 7.3.4.4 South Korea Corrosion Resistant Resin Market
- 7.3.4.4.1 South Korea Corrosion Resistant Resin Market by Application
- 7.3.4.4.2 South Korea Corrosion Resistant Resin Market by Type
- 7.3.4.4.3 South Korea Corrosion Resistant Resin Market by End Use
- 7.3.4.5 Australia Corrosion Resistant Resin Market
- 7.3.4.5.1 Australia Corrosion Resistant Resin Market by Application
- 7.3.4.5.2 Australia Corrosion Resistant Resin Market by Type
- 7.3.4.5.3 Australia Corrosion Resistant Resin Market by End Use
- 7.3.4.6 Malaysia Corrosion Resistant Resin Market
- 7.3.4.6.1 Malaysia Corrosion Resistant Resin Market by Application
- 7.3.4.6.2 Malaysia Corrosion Resistant Resin Market by Type
- 7.3.4.6.3 Malaysia Corrosion Resistant Resin Market by End Use
- 7.3.4.7 Rest of Asia Pacific Corrosion Resistant Resin Market
- 7.3.4.7.1 Rest of Asia Pacific Corrosion Resistant Resin Market by Application
- 7.3.4.7.2 Rest of Asia Pacific Corrosion Resistant Resin Market by Type
- 7.3.4.7.3 Rest of Asia Pacific Corrosion Resistant Resin Market by End Use
- 7.4 LAMEA Corrosion Resistant Resin Market
- 7.4.1 LAMEA Corrosion Resistant Resin Market by Application
- 7.4.1.1 LAMEA Coating Market by Country
- 7.4.1.2 LAMEA Composites & Other Applications Market by Country
- 7.4.2 LAMEA Corrosion Resistant Resin Market by Type
- 7.4.2.1 LAMEA Epoxy Market by Country
- 7.4.2.2 LAMEA Polyurethanes Market by Country
- 7.4.2.3 LAMEA Polyester Market by Country
- 7.4.2.4 LAMEA Vinyl Ester Market by Country
- 7.4.2.5 LAMEA Other Types Market by Country
- 7.4.3 LAMEA Corrosion Resistant Resin Market by End Use
- 7.4.3.1 LAMEA Oil & Gas Market by Country
- 7.4.3.2 LAMEA Chemical Market by Country
- 7.4.3.3 LAMEA Marine Market by Country
- 7.4.3.4 LAMEA Automobiles Market by Country
- 7.4.3.5 LAMEA Other End Uses Market by Country
- 7.4.4 LAMEA Corrosion Resistant Resin Market by Country
- 7.4.4.1 Brazil Corrosion Resistant Resin Market
- 7.4.4.1.1 Brazil Corrosion Resistant Resin Market by Application
- 7.4.4.1.2 Brazil Corrosion Resistant Resin Market by Type
- 7.4.4.1.3 Brazil Corrosion Resistant Resin Market by End Use
- 7.4.4.2 Argentina Corrosion Resistant Resin Market
- 7.4.4.2.1 Argentina Corrosion Resistant Resin Market by Application
- 7.4.4.2.2 Argentina Corrosion Resistant Resin Market by Type
- 7.4.4.2.3 Argentina Corrosion Resistant Resin Market by End Use
- 7.4.4.3 UAE Corrosion Resistant Resin Market
- 7.4.4.3.1 UAE Corrosion Resistant Resin Market by Application
- 7.4.4.3.2 UAE Corrosion Resistant Resin Market by Type
- 7.4.4.3.3 UAE Corrosion Resistant Resin Market by End Use
- 7.4.4.4 Saudi Arabia Corrosion Resistant Resin Market
- 7.4.4.4.1 Saudi Arabia Corrosion Resistant Resin Market by Application
- 7.4.4.4.2 Saudi Arabia Corrosion Resistant Resin Market by Type
- 7.4.4.4.3 Saudi Arabia Corrosion Resistant Resin Market by End Use
- 7.4.4.5 South Africa Corrosion Resistant Resin Market
- 7.4.4.5.1 South Africa Corrosion Resistant Resin Market by Application
- 7.4.4.5.2 South Africa Corrosion Resistant Resin Market by Type
- 7.4.4.5.3 South Africa Corrosion Resistant Resin Market by End Use
- 7.4.4.6 Nigeria Corrosion Resistant Resin Market
- 7.4.4.6.1 Nigeria Corrosion Resistant Resin Market by Application
- 7.4.4.6.2 Nigeria Corrosion Resistant Resin Market by Type
- 7.4.4.6.3 Nigeria Corrosion Resistant Resin Market by End Use
- 7.4.4.7 Rest of LAMEA Corrosion Resistant Resin Market
- 7.4.4.7.1 Rest of LAMEA Corrosion Resistant Resin Market by Application
- 7.4.4.7.2 Rest of LAMEA Corrosion Resistant Resin Market by Type
- 7.4.4.7.3 Rest of LAMEA Corrosion Resistant Resin Market by End Use
Chapter 8. Company Profiles
- 8.1 BASF SE
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 SWOT Analysis
- 8.2 Huntsman Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segment and Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 SWOT Analysis
- 8.3 The Dow Chemical Company
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 SWOT Analysis
- 8.4 Solvay SA
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 SWOT Analysis
- 8.5 Hexion Inc. (Hexion Intermediate Holding 2, Inc.)
- 8.5.1 Company Overview
- 8.5.2 SWOT Analysis
- 8.6 Sino Polymer Co., Ltd.
- 8.6.1 Company Overview
- 8.6.2 SWOT Analysis
- 8.7 Swancor Holding Co., Ltd.
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Regional Analysis
- 8.7.4 Research & Development Expenses
- 8.7.5 SWOT Analysis
- 8.8 Arkema S.A.
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expenses
- 8.8.5 SWOT Analysis
- 8.9 Olin Corporation
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 SWOT Analysis
- 8.10. Ashland Inc.
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Segmental and Regional Analysis
- 8.10.4 Research & Development Expenses
- 8.10.5 SWOT Analysis
Chapter 9. Winning Imperatives of Corrosion Resistant Resin Market