| A00257 | Pages: 369 | Nov 2021 | 9221 Views | ||
| Author(s) : Bhagyashri Patil, Anil Chaudhary , Eswara Prasad | Tables: 159 | Charts: 62 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Unsaturated Polyester Resins Market
Request Now !The global unsaturated polyester resins market was valued at $11.0 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
COVID-19 pandemic outbreak across the globe has resulted in decline in demand for unsaturated polyester resin from pipes & tanks, transport, and building & construction industries owing to halted production and construction activities amid government imposed lock down measures.
Unsaturated polyester resins are mainly used in production of fiber reinforced plastics and filled plastic products, including sanitary-ware, tanks, pipes, gratings, and high-performance components for the marine and transportation industry such as closure and body panels, fenders, boat hulls/ decks, and other large glass fiber reinforced plastic articles. Unsaturated polyester resins also find uses in coatings and adhesives. Growing infrastructure development has generated high demand for unsaturated polyester resins. Furthermore, rapid expansion of the unsaturated polyester resins market is aided by rise in use of electric vehicles by consumers and businesses. This is likely to drive the unsaturated polyester resins market growth during the forecast period.
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Moreover, demand for unsaturated polyester resins has increased as the automobile industry has increased, as it has reduced vehicle weight to improve fuel efficiency. Growing demand for UPR products has evolved with population growth, along with increased urbanization, resulting in significant increase in the building & construction sector.
The global unsaturated polyester resins market is segmented on the basis of type, end-use industry, and region. On the basis of type, the global unsaturated polyester resins market size is segmented into orthophthalic resin, isophthalic resin, dicyclopentadiene, and others. On the basis of end-use industry, the global unsaturated polyester resins market is analyzed across building & construction, tanks & pipes, electrical, marine, transport, artificial stones and others. On the basis of region, the global unsaturated polyester resins market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The orthophthalic resin segment accounted for the largest share in 2020, while the isophthalic resin segment is projected to grow at the highest CAGR of 6.4%. Orthophthalic resin is the most commonly utilized UPR resin since it is a basic resin that may be used for a variety of purposes. The most common resins used in the marine industry are orthophthalic resins
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The building & construction segment accounted for the largest share of the unsaturated polyester resins market in 2020 while the tanks & pipes segment is projected to grow at the highest CAGR of 6.5%. The bio-polishing segment is projected to hold the dominant share of the global unsaturated polyester resins market during the forecast period due to increasing building & construction may increase the use of unsaturated polyester resin.
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The Asia-Pacific region accounted for the largest unsaturated polyester resins market share in 2020. Asia-Pacific has established itself as a major producer and user of unsaturated polyester resin. Low-cost labor, government efforts like Make in India, and the proposed scheme for entrepreneurship development in India may open up chances in the industrial and infrastructural sectors.
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COVID-19 Analysis:
Key Benefits For Stakeholders
Key Market Segments
Key Market Players
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The textile enzyme market is driven by rising demand for unsaturated polyester resin composite material in printed circuit boards (PCBs) is projected to have a favorable impact on the market in the future, owing to exceptional qualities such as unsurpassed stiffness and durability. Moreover, Asia-Pacific is projected to register a robust growth, significantly from emerging economies such as China, India, and Indonesia as they have huge potential with regards to adoption of unsaturated polyester resins, owing to growth of major end-use industries such as construction, electronic, transport, and marine.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
A. The demand for unsaturated polyester resin composites is expected to be driven by their extensive end-use industry scope.
A. The market value of global unsaturated polyester resin market in 2021 is expected to be $10,977.7 million and projected to rise to $20,092.2 million in 2030.
A. The leading players in the market AOC, BASF SE, Dow, INEOS Group, LERG SA, Von Roll, Royal DSM, Scott Bader Company Ltd., Tianhe Resin Co., Ltd., and UPC Group.
A. The building and construction industry is projected to increase the demand for unsaturated polyester resin market
A. The global unsaturated polyester resin market is segmented on the basis of type, end-use industry and region.
A. Increase in growth of industries such as building & construction, transportation, tanks & pipes, and wind energy especially in Asia-Pacific.
A. Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
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