Corrosion Resistant Resin Market Size, Share, Trends, Industry Analysis Report: By Type, Application (Coating and Composites), End Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Feb-2025
- Pages: 125
- Format: PDF
- Report ID: PM5374
- Base Year: 2024
- Historical Data: 2020-2023
Corrosion Resistant Resin Market Overview
The global corrosion resistant resin market size was valued at USD 9.23 billion in 2024. The market is projected to grow from USD 9.86 billion in 2025 to USD 17.95 billion by 2034, exhibiting a CAGR of 6.9% from 2025 to 2034.
Corrosion-resistant resin is a synthetic polymer engineered to withstand chemical degradation and environmental damage, making it ideal for coatings, adhesives, and composites. Commonly used in industries such as marine and chemical processing, it protects surfaces from corrosive substances, enhancing product durability and lifespan.
The corrosion resistant resin market is growing due to its increasing use in industries such as automotive, aerospace, and construction. As industries prioritize durability and reduced maintenance, there is a rising demand for effective protective materials. Corrosion resistant resins play a crucial role in extending the lifespan of components and structures, making them essential in sectors that require reliable performance under harsh conditions. Additionally, increasing investment and expansion of multiple end use industries such as automotive, chemical, and marine is significantly driving the growth of corrosion resistant resins market in the forecast period. The expansion of these end-use industries, coupled with the need for minimal maintenance costs, has raised the demand for corrosion resistant resins. Corrosion resistant resins are durable and are leveraged with advanced technology for efficient operation.
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Corrosion Resistant Resin Market Dynamics
Increasing Infrastructure Projects
The increase in investment in construction projects globally is driving the number of new projects. For instance, according to Trading Economics, in India, the housing index rose to 116 points in the second quarter of 2024, a significant increase from 107 points in the same quarter in 2022. This increase in housing and infrastructure projects necessitates durable materials that can withstand harsh environmental conditions and corrosion, leading to increased demand for corrosion-resistant resins. Consequently, this infrastructure expansion has made corrosion-resistant resins an essential component for improving the longevity and performance of buildings and structures, thereby driving the corrosion-resistant resin market growth.
Growing Awareness of Maintenance Costs
The costs associated with corrosion are a major concern among builders and governments. For instance, according to the International Zinc Association, in India, it is estimated that the country loses around 5–7% of its gross domestic product (GDP) annually due to corrosion-related damage. This significant economic impact is encouraging industries to adopt corrosion-resistant materials to minimize maintenance expenses and prolong the lifespan of assets, thereby driving the corrosion-resistant resin market growth.
Corrosion Resistant Resin Market Segment Insights
Corrosion Resistant Resin Market Evaluation by Type Insights
The corrosion resistant resin market segmentation, based on type, includes epoxy, polyurethanes, polyester, vinyl ester, and others. The epoxy segment is expected to experience significant growth with a high CAGR in the global market. Epoxy resins are preferred for their exceptional adhesion, chemical resistance, and durability, making them ideal for a variety of applications in industries such as automotive, aerospace, and construction. Their ability to withstand harsh environments and prevent corrosion effectively enhances the lifespan of products, driving increased adoption. As infrastructure development accelerates, the demand for epoxy-based solutions is anticipated to rise, positively impacting the segment growth in the global market.
Corrosion Resistant Resin Market Assessment by Application Insights
The corrosion resistant resin market segmentation, based on application, includes coating and composites. The coating segment is expected to dominate the corrosion resistant resin market in the forecasted years due to its wide-ranging applications across various industries. Coatings are essential for protecting surfaces from corrosion, enhancing durability, and improving aesthetic appeal. Key sectors such as automotive, marine, and construction heavily rely on high-performance coatings to safeguard structures and equipment from environmental degradation. With the growth of these industries, the demand for coatings from corrosion-resistant resin is expected to rise, thereby driving the growth of the segment in the global market.
Corrosion Resistant Resin Market Regional Insights
By region, the study provides the corrosion resistant resin market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2024, North America had the largest revenue share in the corrosion resistant resin market due to the expansion of the automotive manufacturing sector. For instance, according to the US Bureau of Labor Statistics, the automotive sector employed approximately 1,062 thousand people in September 2024, up from 1,052 thousand in September 2023. This increase reflects the rapid expansion of the automotive sector, which is driving the demand for advanced materials that can withstand harsh environments and prevent corrosion in automotive applications.
The Asia Pacific corrosion resistant resin market is projected to register a substantial CAGR during the forecast period due to increased investment in the chemical and oil & gas industries. There is a heightened demand for materials that can withstand corrosive environments and ensure operational efficiency as these sectors expand. The region's focus on infrastructure development and industrialization further fuels this demand as companies seek durable solutions to enhance the longevity of their assets.
The India corrosion resistant resin market is experiencing significant growth due to the surge in construction projects. For instance, according to the India Brand Equity Foundation, the Interim Budget 2024-25 announced an 11.1% increase in capital investment outlay for infrastructure, signaling a strong commitment to development. The expansion of new construction projects has led to an increase in the demand for durable materials, such as corrosion resistant resins, that can withstand environmental challenges and prevent corrosion.
Corrosion Resistant Resin Market – Key Players and Competitive Insights
The corrosion resistant resin market is constantly evolving, with numerous companies striving to innovate and distinguish themselves. Leading global corporations dominate the market by leveraging extensive research and development, advanced manufacturing technologies, and significant capital to maintain a competitive edge. These companies pursue strategic initiatives such as mergers and acquisitions, partnerships, and collaborations to enhance their product offerings and expand into new markets.
New companies are impacting the market by introducing innovative resins and meeting the needs of specific market sectors. This competitive environment is amplified by continuous progress in product offerings, greater emphasis on sustainability, and the rising requirement for tailor-made products in diverse industries. Major players in the corrosion resistant resin market include Ashland; Huntsman International LLC.; Hexion Inc.; AOC; Olin Corporation; Sino Polymer Co., Ltd.; Swancor; Grasim Industries Limited; TotalEnergies; Allnex GMBH; BASF SE Reichhold LLC; and Scott Bader Company Ltd.
BASF SE, headquartered in Ludwigshafen, Germany, is a chemical producer founded in 1865. Originally a dye manufacturer, BASF has greatly diversified its operations and now encompasses six business segments: Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural Solutions, and Oil and Gas. The company serves a wide array of industries, such as automotive, construction, electronics, and agriculture, providing products such as solvents, adhesives, and performance materials. In the corrosion-resistant resin market, BASF offers advanced solutions that cater to various applications requiring durability and protection against environmental factors. Their innovative products are designed to meet the stringent demands of industries where corrosion resistance is critical. This commitment to quality and sustainability aligns with BASF's corporate philosophy of creating chemistry for a sustainable future. BASF continues to invest in research and development to drive innovation and enhance its product offerings in the resin sector with approximately 110,000 employees globally.
Grasim Industries Limited, an entity of the Aditya Birla Group, was established in 1947 and has transformed from a textile manufacturer into a diversified conglomerate. Headquartered in Mumbai, Grasim operates across various sectors, including cellulosic fibers, diversified chemicals, and cement. The company is a producer of viscose staple fibre (VSF) and has a portfolio that includes fashion yarn and fabrics. In recent years, Grasim has expanded to the paints sector with its brand ‘Birla Opus, launching six manufacturing plants across India, three of which began operations in April 2024. Additionally, the company has developed ‘Birla Pivot,’ a B2B online marketplace for building materials. Grasim epoxy products include liquid resins, formulated resins, reactive diluents, and hardeners.
List of Key Companies in Corrosion Resistant Resin Market
- Allnex GMBH
- AOC
- Ashland
- BASF SE
- Grasim Industries Limited
- Hexion Inc.
- Huntsman International LLC.
- Olin Corporation
- Reichhold LLC
- Scott Bader Company Ltd.
- Sino Polymer Co., Ltd.
- SWANCOR
- TotalEnergies
Corrosion Resistant Resin Industry Developments
July 2024: Sinochem International launched a high-performance epoxy resin solution to enhance hydrogen storage and transportation safety. The company developed two new epoxy resin formula products, 9821A/B and 9824A/B, for type III and type IV hydrogen storage cylinders. These new products improve mechanical strength, heat resistance, and overall reliability of composite materials.
July 2024: Allnex announced the launch of POLYPLEX 200E, an innovative structural laminating resin produced from recycled PET. This new addition to their composite product line offers enhanced mechanical properties and improved water resistance, making it ideal for composite swimming pool constructions.
Corrosion Resistant Resin Market Segmentation
By Type Outlook (USD Billion, 2020–2034)
- Epoxy
- Polyurethanes
- Polyester
- Vinyl Ester
- Others
By Application Outlook (USD Billion, 2020–2034)
- Coating
- Composites
By End Use Outlook (USD Billion, 2020–2034)
- Chemical
- Marine
- Oil & Gas
- Automobiles
- Others
By Regional Outlook (USD Billion, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Corrosion Resistant Resin Market Report Scope
|
Report Attributes |
Details |
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Market Size Value in 2024 |
USD 9.23 billion |
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Market Size Value in 2025 |
USD 9.86 billion |
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Revenue Forecast by 2034 |
USD 17.95 billion |
|
CAGR |
6.9% from 2025–2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
• The corrosion resistant resin market size was valued at USD 9.23 billion in 2024 and is projected to grow to USD 17.95 billion by 2034.
• The global market is projected to register a CAGR of 6.9% from 2025 to 2034.
• North America had the largest share of the global market in 2024.
• A few of the key players in the market are Ashland; Huntsman International LLC.; Hexion Inc.; AOC; Olin Corporation; Sino Polymer Co., Ltd.; Swancor; Grasim Industries Limited; TotalEnergies; Allnex GMBH; BASF SE Reichhold LLC; and Scott Bader Company Ltd.
• The epoxy segment is anticipated to experience substantial growth with a significant CAGR in the global market. This growth is due to their exceptional adhesion, chemical resistance, and durability.
• The coating segment is expected to dominate the corrosion resistant resin market in the forecasted years.
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