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Unsaturated Polyester Resins Market to Grow at a CAGR of 5% during Forecast Period: Reveals TMR Study

WILMINGTON, DE / ACCESSWIRE / March 28, 2023 / Transparency Market Research Inc. - The global unsaturated polyester resins market size was worth US$ 6.7 Bn in 2020 and is likely to be valued at US$ 11.4 Bn by 2031. The global industry is projected to grow at a CAGR of 5% between 2021 and 2031. Proliferation of unsaturated polyester resin applications in building and construction projects as well as pipe relining is estimated to boost the global market. Production of filled plastic and fiber-reinforced plastic products especially calls for the usage of unsaturated polyester resins.

Manufacturers can benefit from the growing use of unsaturated polyester resins in adhesive and coating applications. Unsaturated polyester resins are more often used by businesses due to their cost-effective production and adaptable qualities. Expansion of several end-use industries is estimated to spur market demand in the near future. Leading market players are expected to concentrate on innovative approaches to establish their brands in the global industry.

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The global market is anticipated to observe rapid expansion due to rise in usage of unsaturated polyester resins in several applications across numerous industries. Unsaturated polyester resins are ideal for usage in many sectors due to their high degree of flexibility and affordable price. Some of these industries include manufacturing of pipelines, electrical appliances, resin production, artificial marble and stone manufacturing, and pipe relining.

Key Findings of Market Report

  • Based on product type market segmentation, in 2020, the orthophthalic resin segment led the global unsaturated polyester resins market. Orthophthalic resin is commonly utilized as UPR resin due to its widespread use as a general-purpose resin and its popularity as a basic resin. Orthophthalic resins are fairly popular in the maritime business. They possess a variety of qualities, including great flexibility and exceptional tensile strength. Orthophthalic resins are also utilized in various products, including filler pastes, flooring materials, putties, filler pastes, gelcoats, and so on. It has a wide range of applications, making it the favored resin type, which is anticipated to bolster business growth.
  • Based on end-use, the building & construction segment is anticipated to lead the global market for unsaturated polyester resins. Increase in use of unsaturated polyester resin for a variety of applications in the expanding global construction industry is projected to drive industry growth. The need for goods that are erosive-resistant, lightweight, and flexible is growing, which is why unsaturated polyester resins are in greater demand in the building business.

Global Unsaturated Polyester Resins Market: Growth Drivers

  • Unsaturated polyester resins are increasingly in demand worldwide for use in a variety of end-use sectors. Orthophthalic resins, dicyclopentadiene (DCPD) resins, and isophthalic resins are the three main product forms of unsaturated polyester resins. These resins are becoming more and more popular in composites or fiberglass due to their high tensile strength, superior chemical resistance, and flexibility. The maritime industry makes use of orthophthalic resins. Market demand is expected to be driven by their increasing use in various applications, which include pigment pastes, filler pastes, castings, composites, polymer buttons, polymer concrete, flooring materials, and tooling.
  • Growth in use of unsaturated polyester resin in the construction industry is likely to fuel its market demand from 2021 and 2031. Unsaturated polyester resin is regarded as an important polymer for creating composite materials, notably non-reinforced casting resins and plastics with glass fiber reinforcement. The maritime sector, construction, and transportation sectors, all utilize glass fiber-reinforced polymers. As the construction industry expands rapidly across the globe, the market is anticipated to observe considerable growth.

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Global Unsaturated Polyester Resins Market: Regional Landscape

  • Asia Pacific is estimated to hold the highest market share from 2021 to 2031. Growth in usage of unsaturated polyester resins in a number of end-use industries, including marine, automotive, and construction and building, is likely to drive the market in Asia Pacific. China has increased its capacity for producing these polymers in order to boost revenues. Increasing sales of composites made with unsaturated polyester resins in a number of end-use applications is likely to drive the market in Asia Pacific.

Global Unsaturated Polyester Resins Market: Key Players

Some of the key players in the global unsaturated polyester resins market are as follows:

  • Scott Bader Company Ltd
  • Polynt-Reichhold Group
  • U-Pica Company Ltd
  • Nuplex Industries Ltd
  • BASF SE
  • UPC Technology Corp

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Global Unsaturated Polyester Resins Market: Segmentation

Product Type

  • Orthophthalic Resins
  • Isophthalic Resins
  • Dicyclopentadiene (DCPD) Resins

End-use

  • Electrical, Transport
  • Artificial Stone/Marble
  • Resins
  • Tanks
  • Pipes
  • Scrubbers
  • Pipe Re-lining
  • Building & Construction

Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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