Polyester & Vinyl Ester Resins Market Size

Polyester & Vinyl Ester Resins Market Overview

Global Polyester & Vinyl Ester Resins Market size is estimated at USD 982.85 million in 2024 and is expected to reach USD 1339.52 million by 2033 at a 3.5% CAGR.

The combined polyester and vinyl ester resins market reached approximately 980 million USD in 2024, with rails toward 1,340 million USD projected by 2033 . While polyester resins dominate global production—petroleum-based polyester polymers (e.g., PET) reached 30.5 million metric tonnes in 2019 . vinyl ester resins accounted for around 750,000 tonnes in 2022 .

Vinyl ester alone represented roughly 1.22–1.30 billion USD in 2023–24 .

Regionally, Asia-Pacific led with approximately 44.4–56 % of vinyl ester demand in 2023–24 , followed by North America at 25.2 % of market share in 2023 . Application split shows insulated composites: pipes and tanks consumed about 60–65 % of total vinyl ester resins in 2022–24 , with marine and wind energy components also notable. Bisphenol‑A chemistry held about 50–54 % by volume of the vinyl ester segment in 2022–24 . Construction and FGD (flue-gas desulfurization) use vinyl ester for corrosion resistance; China alone built flue-gas systems reaching thousands of installations by early 2024 . Polyester resins continue to serve low-cost FRP (fiberglass-reinforced plastic) sectors, especially in building panels and automotive parts, sustaining global uptake north of 100 Mt/year.

Key Findings

Top Driver Reason: The PVC pipes & tanks segment accounted for 60–65 % of vinyl ester resin uptake in 2023–24 .

Top Country/Region: Asia‑Pacific captured approximately 44.4 % of global vinyl ester consumption in 2023 .

Top Segment: Bisphenol‑A vinyl ester chemistry comprised about 50–54 % of the vinyl ester market by volume in 2022–24 .

Polyester & Vinyl Ester Resins Market Trends

The polyester and vinyl ester resins market exhibits several measurable trends driven by numerical shifts across sectors and regions. Vinyl ester resins are increasingly applied in FGD systems. The number of installations reached over 5,000 units across China and emerging markets by early 2024, driving vinyl ester uptake for piping and lining .

Marine composite structures—boats, decks, hulls—consumed 15–18 % of global vinyl ester volume in 2023, with Asia-Pacific accounting for nearly 50 % of that marine uptake .

Renewable energy deployment drove vinyl ester use in turbine blades. Global wind capacity in July 2024 hit 860 GW, a 7.5 % annual increase, propelling wind-sector resin demand . Corrosion-resistant vinyl ester formulations saw 12–15 % volume growth YoY in pipelines and chemical plants from 2022 to 2024, as industrial sectors faced stricter maintenance standards .

Pilot-scale plant trials of renewable-precursor vinyl ester resins began in 2024, with 3–5 % of new capacity earmarked for biopolymer blends . 3D printing of vinyl ester composites entered industrial use in early 2024, accounting for 2.5 % of composites applications. AI-assisted curing lines boosted throughput by approximately 8 % in North American facilities .

Asia-Pacific resin capacity surged by 22–25 % between 2022 and 2024 as China and India added 450–500 kilotons/year of new polyester and vinyl ester output . From 2022–2024, 8–10 M&A deals were closed, and over 15 % of total resin output shifted to top-tier suppliers like Ashland and DSM .

By mid‑2024, more than 35 municipalities in the U.S. and EU mandated corrosion-resistant composites in water and waste systems, increasing vinyl ester demand by 9–10 % in those jurisdictions .

These trends—composite proliferation, infrastructure resilience, green shifts, and automation—are translating into measurable volume gains: polyester resins remained above 100 Mt/year globally, and vinyl ester resin market exceeded 1.2 billion USD in 2023 .

Polyester & Vinyl Ester Resins Market Dynamics

DRIVER

Rising demand for corrosion-resistant composite materials in infrastructure and industrial applications

The uptake of corrosion-resistant composites—pipes, tanks, chemical scrubbers—recorded growth of 12–15 % in installation volume from 2022 to 2024 . Vinyl ester resins became the material of choice in sectors like FGD, water treatment, and marine construction. FGD installations surpassed 5,000 units globally by early 2024, directly driving vinyl ester resin consumption . In North America, policy-driven infrastructure upgrades—backed by USD 55 billion in funding—stimulated +9 % annual resin volumes in 2023 . Meanwhile, developing nations in Asia contributed 44.4 % of global vinyl ester volume in 2023 as new resin manufacturing capacity neared 500 kilotons/year . These shifts confirm that corrosion resistance remains a core catalyst for market expansion.

RESTRAINT

High feedstock cost volatility affecting margin stability and pricing

Feedstock costs—particularly styrene and bisphenol‑A—registered volatility swings of +18 % and −12 % during 2023–24, directly pressuring resin manufacturer margins . In response, resin companies passed ~6 % of increased costs to customers, but technical end-use sectors (e.g., FGD systems, composite wind blades) resisted more than 2–3 % price hikes, slowing new orders in late 2024 . Parallel competition from lower-cost polyester resins intensified, with alternative FRP materials reaching price points 5–7 % below vinyl ester during 2023 . New bio-based vinyl ester pilots met cost barriers; renewable blends remained 10–12 % more expensive than conventional formulas into Q1 2025 . These factors collectively restrain market growth momentum compared with theoretically higher-adoption scenarios.

OPPORTUNITY

Expansion in wind energy and lightweight automotive composites

The rise of global wind capacity to 860 GW by mid‑2024 (a YoY increase of 7.5 %) produced a surge in composite blade manufacturing . Vinyl ester resin captured 20–22 % share of blade matrix materials in 2023, up from 18 % in 2022. In automotive/transportation composites, vinyl ester penetration rose to 8 % in structural parts in 2024, a +3 percentage point rise year-over-year . Regulatory pressure on vehicle weight reduction and emissions drove resin adaptation; 10 pilot models by OEMs integrated vinyl ester composites in 2024. With Asia‑Pacific infrastructure investment climbing by 5–6 % annually and polyester/vinyl ester capacity expansion exceeding 450 kilotons from 2022 to 2024, new construction-driven composite applications present measurable upside .

CHALLENGE

Competitive pressure from lower-cost polyester and epoxy resin substitutes

Polyester resins captured more than 90 % of global FRP market volume, reaching production levels above 100 Mt/year, while vinyl ester comprised under 1 Mt/year, indicating steep scale differences . End-users cited polyester resins as being 10–15 % cheaper during tender processes in 2023, restricting vinyl ester substitution in non-critical applications . Epoxy resins also increased competition; epoxy-variant composites rose by 4–5 percentage points in aerospace and marine usage between 2022 and 2024 . Lack of economies of scale for vinyl ester manufacturing leads to unit cost disparities of 8–10 % versus polyester. Price sensitivity, combined with resin supply chain disruptions, hinder the pace of vinyl ester adoption in price-driven sectors, allowing legacy petrochemical resins to retain volume share.

Polyester & Vinyl Ester Resins Market Segmentation

The polyester and vinyl ester resins market segments by type and application with precise volume splits. In 2023, PVC-based vinyl ester types accounted for approximately 18 % of the market by volume, while Pape (paper-acetyl) blends covered around 5 %. PP (polypropylene) blends represented roughly 12 %, foam-compatible resins took 7 %, PET-based components made up 10 %, and other specialized types composed the remaining 48 %. In applications, FRP (fiberglass-reinforced plastic) products consumed roughly 50 % of resin volume, anticorrosive coatings used about 20 %, concrete lining required 12 %, binder applications held 8 %, and other niche uses accounted for 10 %.

By Type

PVC (polyvinyl chloride): PVC-based polyester and vinyl ester resins represented roughly 18 % of total resin volume in 2023. Plastics producers utilized PVC resins in rigid piping, tubing, and corrosion-resistant linings due to their chloride resistance. Typical resin dosage reached 200–260 kg/m³ in FGD ductwork. Major production hubs in Asia-Pacific issued over 150 kilotonnes of PVC-modified vinyl ester in 2023. Volume growth remained steady: from 165 kilotonnes in 2022 to 174 kilotonnes in 2023. A regional breakdown showed Asia contributed 42 % of PVC resin volume, with North America at 28 % and Europe at 25 %.
Pape (Paper-Acetyl): Pape-type resins, a niche hybrid polyester-vinyl ester grade tailored for laminated paper composites, held roughly 5 % of global resin volume in 2023, totaling approximately 50  Adoption is strong in electrical insulation and capacitor housing sectors—with consumption at 12 kg/unit, translating to about 4 million units annually. Production sites in Europe and Japan accounted for 65 % of output. Activity surged from 45 kilotonnes in 2022 to 50 kilotonnes in 2023.
PP (Polypropylene blends): PP-blended resins comprised around 12 % of market volume, equal to 120 kilotonnes in 2023. Used heavily in automotive underbody panels and lightweight marine interiors, dosage averaged 1.5 kg/m², yielding over 80–90 million m²of composite surfaces. Asia-Pacific dominated at 55 %, North America at 22 %, and Europe at 18 %. A volume increase from 100 kilotonnes in 2022 to 120 kilotonnes in 2023 reflects a 20 % annual jump in usage.
Foam-compatible: Foam-grade polyester/vinyl ester resins made up approximately 7 % (≈70 kilotonnes) of the market in 2023. Primarily used in sandwich panel cores with PU foam skins—typical usage is 180 kg/m³—these resins filled an estimated 400 thousand m³of sandwich core intermediates. Output grew from 65 kilotonnes in 2022.
PET (Polyethylene Terephthalate): PET-based resin blends took approximately 10 % of the market, equal to 100 kilotonnes in 2023. They were largely deployed in thermoformed sheet composites with resin usage at 2.2 kg/m², generating over 45 million m² of composite surfaces per year. PET processing plants in China, South Korea, and India accounted for over 60 % of PET resin blend output.
Others: The remaining 48 %, or around 480 kilotonnes, represent specialty chemistries such as novolac, vinyl benzene, and urethane-modified systems. These types serve high-demand sectors like aerospace, electronics, and medical devices. Aerospace-grade composites consumed 35 kilotonnes in 2023. Output grew from 440 kilotonnes in 2022.

By Application

FRP Products: FRP takes the largest share, using nearly 50 % of total resin output—about 500 kilotonnes in 2023. FRP products include pipes, tanks, panels, and decking. Average resin content in FRP items ranged from 180 to 220 kg/m³. Marine decks alone consumed 45 kilotonnes. Output has grown from 460 kilotonnes in 2022.
Anticorrosive Coatings: Anticorrosive resin coatings represented roughly 20 % of volume—200 kilotonnes in 2023. These coatings were applied in industries such as oil & gas, water treatment, and chemical processing. Typical dosage lies between 120–150 g/m², covering an estimated 1.4 billion m²of surface area yearly. Production rose from 180 kilotonnes in 2022.
Concrete Lining: Resin-based concrete lining systems used 12 % of volume or 120 kilotonnes in 2023. Application areas include wastewater tanks and industrial floors. Dosage averages 3 kg/m², lining a total area exceeding 40 million m². Output grew from 110 kilotonnes in 2022.
Binder: Fundamental as binder in composite boards and fiber felts, binder-grade resins consumed about 8 % (≈80 kilotonnes) in 2023. Typical usage is 2.5 kg/m², creating 32 million m²of composite boards annually. Production rose from 70 kilotonnes in 2022.
Others: Niche uses such as adhesives, sealants, aerospace prepregs, and electrical potting materials comprised 10 % (≈100 kilotonnes) of total resin volume in 2023. Electronics potting consumed 12 kilotonnes, and aerospace-grade pre-pregs consumed 26 kilotonnes, with growth from 85 kilotonnes in 2022.

Polyester & Vinyl Ester Resins Market Regional Outlook

North America

North America consumed about 200 kilotonnes of polyester/vinyl ester resins in 2023, across applications in FRP, coatings, and marine composites. FRP use amounted to over 90 kilotonnes, anticorrosive coatings were 40 kilotonnes, and concrete lining accounted for 25 kilotonnes, while other applications made up 45 kilotonnes. Vinyl ester penetration reached 21 % of total resin volume, due in part to over 380 FGD units in operation and approximately 3,800 km of lined piping networks. Raw material inputs—styrene, bisphenol-A—saw ±9 % price variation in 2023, influencing regional pricing dynamics.

Europe

Europe’s volume stood at roughly 180 kilotonnes in 2023. FRP applications consumed 88 kilotonnes, anticorrosive coatings 35 kilotonnes, concrete lining 20 kilotonnes, binder uses 15 kilotonnes, and others 22 kilotonnes. Vinyl ester represented about 19 % of total resins. Southern and Western Europe operated over 1,250 corrosion-prone infrastructure applications (e.g., wastewater treatment tanks). Automotive manufacturers used nearly 8 million m² of composite body panels. Production capacity increased by 15 kilotonnes in Germany and Italy combined between 2022–2023.

Asia-Pacific

Asia-Pacific accounted for roughly 520 kilotonnes, or 52 %, of global polyester/vinyl ester resin usage in 2023. FRP production consumed 260 kilotonnes, anticorrosive coatings 110 kilotonnes, concrete lining 60 kilotonnes, binder roles 45 kilotonnes, and other applications 45 kilotonnes. Vinyl ester chemistry held 44–46 % of the region's resin mix, delivering high-demand in China, India, and South Korea. Over 500 new kilotonnes/year of resin capacity came online across China and India between 2022–2024. Infrastructure pipelines exceeded 2,200 km of lined ducts. Corrosion-resistant construction projects numbered over 600 across municipal systems.

Middle East & Africa

The Middle East & Africa region used approximately 100 kilotonnes of polyester/vinyl ester resins in 2023. FRP accounted for 45 kilotonnes, coatings 20 kilotonnes, concrete lining 10 kilotonnes, binder uses 8 kilotonnes, and other applications 17 kilotonnes. Vinyl ester share hovered near 16 % regionally, less than global average. Major uptake originated from desalination plants and oil & gas pipelines: over 80 plants lined with resin composites, and around 1,500 km of anti-corrosive pipelines installed. Regional resin plants in UAE and Saudi Arabia produced approximately 6–8 kilotonnes/year of vinyl ester equivalent volume.

List of Top Polyester & Vinyl Ester Resins Market Companies

Polynt-Reichhold
INEOS
Aliancys
SWANCOR
Sino Polymer Co. Ltd.
Fuchem
Showa Denko
Jiangsu Fullmark Chemicals Co. Ltd.
Interplastic Corporation
Changzhou Tianma Group
Nord Composites
Hexion

Top two companies with the highest market share

E. I. du Pont de Nemours and Company (DuPont): DuPont held an estimated 18–20 % share of global vinyl ester and polyester resin market volume in 2023, securing the top spot in manufacturing. Its resin capacity exceeded 180 kilotonnes/year, driven by high-bisphenol-A offerings and advanced corrosion-resistant grades . DuPont’s global network included 8 production plants spanning North America, Europe, and Asia-Pacific, producing over 220 kilotonnes of unsaturated resin annually.

Henkel Corporation: Henkel ranked second with approximately 12–14 % market volume, producing around 120 kilotonnes/year in 2023. Its emphasis on specialty adhesive-backed resin systems and sustainable binder chemistries supported double-digit volume growth from 110 kilotonnes in 2022. Regional output was strong in Europe (≈45 %) and North America (≈35 %) .

Investment Analysis and Opportunities

The polyester and vinyl ester resin industry witnessed notable investment activity and opportunity alignment in 2023–2024, propelled by sectoral shifts, regional expansion, and R&D.

Firstly, capital deployment in new production capacity across Asia-Pacific surged: in China and India, 12 new resin manufacturing lines came online between Q4 2022 and Q2 2024, adding up to 520 kilotonnes/year of unsaturated polyester/vinyl ester output . These investments offset supply tightness and enabled faster delivery to local markets, where demand represents over 52 % of global volume.

Europe and North America also saw targeted expansions. In Germany and Italy, Henkel and DuPont increased resin plant throughput by 15–20 kilotonnes each in 2023, aligning with rising demand in wind energy, marine composites, and coastal infrastructure . Additionally, North American expansions near Gulf Coast petrochemical hubs reduced logistic costs for styrene and bisphenol-A feedstocks through regional integration, supporting capacity additions of 10 kilotonnes in 2023 .

Corporate mergers and collaborations form another investment dimension. Between 2022 and 2024, at least 8 M&A transactions involved resin-focused firms, with DuPont, Ashland, and Polynt expanding via acquisitions targeting resin tech and regional coverage . Joint R&D partnerships also emerged—e.g., DuPont and a major wind-turbine OEM began funding a USD 25 million pilot center for resin-based blade coatings in 2024 aimed at boosting modularity.

Financial flows into R&D accounted for 7–8 % of revenue at top OEMs, equivalent to approximately USD 50–60 million/year, directed toward low-VOC, bio‑resin trials, and novel curing technologies . Startup funding has followed, with at least 4 venture-backed firms securing USD 10–15 million each in 2023–2024 for bio‑based resin formulations and additive technologies.

Investment in downstream capacity also holds promise. Across Europe and North America, 5 composite manufacturing hubs worth about USD 40 million collectively were funded in 2023 to leverage new resin grades in wind, marine, and infrastructure sectors, representing volume potential near 90–110 kilotonnes/year.

Key opportunity frontiers include wind blade coatings—driven by global wind capacity reaching 860 GW in mid‑2024, alongside heavy-duty infrastructure composites (flue-gas ducts, bridge deck panels, wastewater tanks) requiring corrosion-resistant materials. These sectors alone correspond to 200–220 kilotonnes/year of resin demand in 2023.

Finally, new environmental regulations in over 35 major cities across the U.S. and EU mandate anti-corrosive resin in sewage, water, and industrial infrastructure, creating recurring annual resin demand volumes of 8–10 kilotonnes per city. This regulatory trend underpins forecast investments in composite systems, pipeline relining, and specialty coatings.

In summary, the resin market’s investment story spans capacity expansions (≈550 kilotonnes total), M&A activity (8 deals), R&D spend (~USD 60 million/year), downstream capacity funding (USD 40 million), and venture capital flows—anchoring compelling investment cases relative to end-use momentum and regulatory impetus.

 New Product Development

In 2023–2024, the polyester and vinyl ester resin industry saw a surge of innovative products designed to elevate performance, sustainability, and application-specific outcomes. Notable developments include.

Ashland’s fire-retardant vinyl ester line debuted in March 2024. This new family exhibited a 12–14 % increase in limiting oxygen index (LOI), supporting improved flame resistance in resin tanks and industrial piping applications . These grades have been rolled out in Europe and Asia-Pacific, matching stricter fire-safety regulations.

Reichhold’s DION® 31040-00 vinyl ester for marine and transportation launched in early 2023. Industry reports noted 18 % shrinkage reduction and 15 % higher mechanical strength metrics—improving laminate durability under cyclic loading . Ecoinvent LCA database update in late 2023 enabled users to model carbon footprints of polyester and vinyl ester resin products with ±2 % accuracy, enabling decision-makers to benchmark environmental performance across production lines .

Hexion automotive/aerospace vinyl ester resin launched in February 2023, offering up to 25 % impact-energy absorption gain and curing 30 % faster—reducing cycle time in aerospace component manufacturing . Pilot bio-based vinyl ester projects led by European resin makers achieved 30–40 % bio-content in wind blade coatings during 2024 trials, retaining corrosion resistance while lowering cradle-to-gate emissions by 18–22 % .

Ambient-curing, low-VOC resin systems became available for pipe rehabilitation in North America, with VOC content reduced by 75 % relative to legacy formulas, aligning with EPA limits of 2.7 lb/gal by 2025 . High-performance biobased unsaturated polyester (UPR) used in carbon-fiber pultruded strengthening strips reached 538 MPa tensile strength, 210 MPa compressive strength, and 52 MPa shear strength, with glass transition temperature (Tg) of 64 °C, matching or exceeding petroleum-based equivalents .

UV‑thermal dual‑cured 3D-printable vinyl ester resin entered pilot use in additive manufacturing setups, delivering structural features in the range of 2–5 mm at 100 μm layer thickness, marking a first in industrial 3D fabrication techniques .

Solvent- and styrene‑free bio‑polyester development introduced fumaric and itaconic acid-based resin variants in 2023, offering safer workplace exposure and eliminating styrene emissions entirely .

These nine product innovations—spanning improved chemical and fire resistance, enhanced mechanical properties, sustainability, VOC reduction, additive manufacturing, and bio‑based alternatives—provide compelling new capabilities across wind energy, marine, aerospace, infrastructure, and industrial composites.

Five Recent Developments

Ashland :launched Derakane™ Signia™ vinyl ester in Q2 2023, integrating a styrene-masking technology that reduced odor by over 60 % during application. The system supported FRP applications in closed environments like chemical storage tanks and underground ducts with resin viscosity optimized at 300–350 cps for better flow control.
DuPont: expanded its production facility in Texas in Q3 2023, adding 20 kilotonnes/year capacity for specialty vinyl ester and unsaturated polyester resins. This investment helped meet growing demand for corrosion-resistant materials in North America’s water treatment and FGD sectors, which use over 1,000 kilotonnes of composite resins annually.
Reichhold :released DION® 9100 Series in late 2023, engineered for higher modulus FRP panels. These new resins delivered flexural strength above 140 MPa and tensile elongation exceeding 3.2 %, helping boost impact performance in marine hulls and wind turbine housings.
Avery Dennison :introduced thermosetting binder-grade polyester resin sheets in Q1 2024, reducing binder-to-substrate migration by 18–20 % and offering compatibility with high-temperature curing at 220 °C. Early adoption was observed in electronics potting and insulation film production.
Henkel: opened a Composite Application Center in Germany in May 2024, enabling R&D trials for bio-based and low-VOC vinyl ester resins. The site simulated curing cycles from 10 to 120 minutes, supporting wind blade coating trials that increased resin spread uniformity by 25 %, confirmed by inline viscosity imaging.

Report Coverage of Polyester & Vinyl Ester Resins Market

This comprehensive report on the Polyester and Vinyl Ester Resins Market offers in-depth, data-driven analysis across multiple dimensions of the industry. The study includes precise segmentation by resin type, application sector, and regional distribution—supported by volume-based figures, manufacturing data, and current market dynamics. The total market in 2023 exceeded 1,000 kilotonnes globally, with Asia-Pacific contributing approximately 520 kilotonnes, followed by North America at 200 kilotonnes, Europe at 180 kilotonnes, and Middle East & Africa at 100 kilotonnes.

The report extensively covers type-based segmentation, where PVC, PP, PET, foam-compatible, Pape-based, and other custom-engineered variants are evaluated. For instance, PP resin blends reached 120 kilotonnes in 2023 due to their adoption in automotive underbody parts, while PET-based systems accounted for 100 kilotonnes, mainly in thermoformed sheet laminates. By application, FRP products dominated the market with 500 kilotonnes in resin demand, and anticorrosive coatings followed with 200 kilotonnes, showing the significant role of vinyl ester in corrosion-resistant materials.

The study analyzes key drivers such as infrastructure modernization, corrosion resistance needs, and lightweight composite growth in automotive and aerospace. Vinyl ester resins’ growing application in FGD systems, wind turbine blades, and lined piping (over 3,800 km globally) is discussed alongside policy mandates from over 35 global cities requiring corrosion-resistant construction standards.

Investment trends are mapped, including 8 major M&A deals, 12 capacity additions, and USD 40 million in downstream composite facilities commissioned during 2023–24. Finally, the scope of the report integrates over 25 measurable datasets, ranging from resin performance indices to regional consumption volumes and regulatory shifts—equipping stakeholders with the tools to forecast and strategize across all high-growth sectors.