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.
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 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.
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
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.
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.
Asia-Pacific would exhibit an CAGR of 6.7% during 2021-2030
- The construction work has been temporarily halted keeping in mind the concerns regarding workers in the construction industry.
- 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.
- The companies are not earning any profit as a result of the work stoppage and not only the companies are losing money but they are also losing suppliers who are providing the required materials to various companies to be used in construction sector, all those suppliers are also facing huge losses.
- Firms are not earning any profit as a result of the work stoppage, and not only are the companies losing money, but so are all of the suppliers that provide the needed supplies to various companies for use in the construction sector.
- Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce; thus, negatively impacting the production and construction processes.
- COVID-19 has made a major economic influence on a number of financial and industrial sectors, including travel and tourism, manufacturing, and aviation. According to the World Bank and IMF, the biggest economic recession will occur between 2020 and 2021. Economic activity is diminishing as a result of an increasing number of countries implementing and prolonging lockdowns, which has an influence on the global economy.
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 unsaturated polyester resins 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
By END-USE INDUSTRY
Key Market Players
TIANHE RESIN CO., LTD., DOW Inc., LERG SA, AOC, BASF SE, UPC GROUP, Von Roll, DSM, Scott Bader Company Ltd., Ineos Group
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.