Unsaturated Polyester Resins Market Research - 2030
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.
Introduction
Unsaturated polyester resins (UPRs) are a class of thermosetting polymers formed by the reaction of unsaturated dicarboxylic acids or anhydrides with diols, often blended with a reactive monomer such as styrene to facilitate crosslinking during curing. These resins are widely used in composite materials due to their excellent mechanical properties, chemical resistance, and cost-effectiveness. UPRs are commonly reinforced with glass fibers, carbon fibers, or fillers to enhance strength and durability, making them ideal for applications in construction, automotive, marine, and aerospace industries. Their versatility allows for use in products such as fiberglass-reinforced plastics (FRP), coatings, adhesives, and molded components.
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.
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 market is analyzed across building & construction, tanks & pipes, electrical, marine, transport, artificial stones and others. On the basis of region, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Recent Key Strategies and Developments
In December 2022, INEOS Enterprises finalized the acquisition of ASHTA Chemicals Inc. from Bigshire Mexico S. de R.L. de C.V. This acquisition encompasses a facility with a production capacity of 100 ktpa for Potassium Hydroxide (KOH) and 65 kte for Chlorine.
In July 2022, Scott Bader Pvt Ltd (India) acquired the commercial business of Satyen Polymers Pvt Ltd, including the marketing of all resin and gelcoat products. This strategic move enhances Scott Bader's product portfolio by integrating its advanced technology, aiming to introduce industry-leading adhesives and composite products to the Indian market.
Unsaturated Polyester Resins Market, By Type
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
By Type
Orthophthalic resin is projected as the most lucrative segment.
Unsaturated Polyester Resins Market, By End-use Industry
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.
By Application
Building & Constructionis projected as the most lucrative segment.
Unsaturated Polyester Resins Market, By Region
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.
By Region
Asia-Pacific would exhibit an CAGR of 6.7% during 2021-2030
Key Benefits For Stakeholders
- The global unsaturated polyester resins market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis help analyze potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides in-depth analysis of the global unsaturated polyester resins market forecast for the period 2021–2030.
- The report outlines the current global unsaturated polyester resins market trends and future scenario of the global market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- Key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global unsaturated polyester resins market study.
Unsaturated Polyester Resins Market Report Highlights
| Aspects | Details |
 By Type |
|
 By END-USE INDUSTRY |
|
 By Region |
|
 Key Market Players | Ineos Group, UPC GROUP, DSM, BASF SE, AOC, DOW Inc., TIANHE RESIN CO., LTD., Scott Bader Company Ltd., Von Roll, LERG SA |
Analyst Review
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.
The demand for unsaturated polyester resin composites is expected to be driven by their extensive end-use industry scope.
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.
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.
The building and construction industry is projected to increase the demand for unsaturated polyester resin market
The global unsaturated polyester resin market is segmented on the basis of type, end-use industry and region.
Increase in growth of industries such as building & construction, transportation, tanks & pipes, and wind energy especially in Asia-Pacific.
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.
Loading Table Of Content...
