CORROSION RESISTANT RESIN MARKET ANALYSIS

Regional Analysis

Asia Pacific is expected to be the most potential market for growth of corrosion resistant resin manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Rapidly increasing industrialization, GDP growth, and demand for improved and modern infrastructure in the region is expected to fuel the demand for corrosion resistant resins in the region, which in turn is propelling growth of the corrosion resistant resin market. 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 growth of the market. Moreover, increasing investments in industries such as infrastructure and transportation in emerging economies such as India is expected to boost growth of corrosion resistant resin market. China is leading the market, owing to deep-rooted industrial base. Middle East and Africa are emerging markets for the corrosion resistant resins due to increasing application in oil & gas industry. Europe and North America are expected to exhibit relatively slower growth in market over the forecast period.