USD 9.6 billion
Unsaturated Polyester Resin Market Size, Share, Growth Analysis, By Type(Orthophthalic resin, Isophthalic resin, Dicyclopentadiene (DCPD), Others (Gelcoat resin), By End-use Industry(Building & Construction, Marine, Transportation, Pipes & Tanks), By Form(Liquid Form, Powder Form), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20B2024 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
104
|Figures:
76
Unsaturated Polyester Resin Market Insights
Unsaturated Polyester Resin Market size was valued at USD 7.87 billion in 2022 and is poised to grow from USD 8.18 billion in 2023 to USD 11.11 billion by 2031, growing at a CAGR of 3.90% in the forecast period (2024-2031).
One of the key factors driving the growth of the global unsaturated polyester resin market is the increasing demand for lightweight and durable materials in the automotive and aerospace sectors. Unsaturated polyester resin offers a lightweight alternative to traditional materials like metal, resulting in improved fuel efficiency and reduced emissions. Additionally, the rising demand for electric vehicles is further boosting the market as unsaturated polyester resin is used in the manufacturing of battery enclosures and components. The construction industry is another major consumer of unsaturated polyester resin. The increasing investments in infrastructure development, particularly in emerging economies, are fueling the demand for construction materials. Unsaturated polyester resin is used in applications such as pipes, tanks, panels, and roofing due to its high corrosion resistance and durability. Moreover, the growing trend towards sustainable and eco-friendly construction practices is driving the adoption of unsaturated polyester resin as it can be easily recycled and offers low volatile organic compound (VOC) emissions.
US Unsaturated Polyester Resin Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Orthophthalic Resins
Fastest Growth
Orthophthalic Resins
Growth Rate
6.1% CAGR
Global Unsaturated Polyester Resin Market ($ Bn)
Country Share for North America Region (%)
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Unsaturated Polyester Resin Market Segmental Analysis
Global Unsaturated Polyester Resin Market is segmented by type, end use industry, form, and region. Based on type, the market can be segmented into orthophthalic resin, isophthalic resin, dicyclopentadiene (dcpd), and others (gelcoat resin, terephthalic resin, chlorendic resin).Based on end use industry, the market is segmented into building & construction, marine, transportation, pipes & tanks, electrical & electronics, wind energy, artificial stones, and others (gel coats, chemical industry, decorative art, non-structural furniture parts, consumer goods, industrial, healthcare, and sporting goods). Based on form, the market is segmented into liquid form, and powder form. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Orthophthalic Resins have traditionally held the largest market share in the global Unsaturated Polyester Resin market. These resins are widely used due to their good mechanical properties, ease of handling, and cost-effectiveness. They find applications in various industries such as construction, automotive, marine, and electrical. The dominance of Orthophthalic Resins can be attributed to their versatility and wide range of applications across different sectors.
On the other hand, Isophthalic Resins are experiencing significant growth in the global Unsaturated Polyester Resin market. Isophthalic Resins offer superior mechanical properties, improved resistance to chemicals and weathering, and enhanced heat resistance compared to Orthophthalic Resins. These properties make them suitable for demanding applications such as corrosion-resistant tanks, pipes, and high-performance composites. The growing demand for Isophthalic Resins is driven by industries seeking advanced materials that provide better performance and durability.
Analysis by Application
The Building & Construction sector holds a significant market share and is the leading application for Unsaturated Polyester Resin. This can be attributed to the widespread use of these resins in various construction activities such as manufacturing composite materials for roofing, cladding, panels, and other structural elements. Unsaturated Polyester Resins offer desirable properties such as high strength, durability, weather resistance, and ease of molding, making them suitable for construction applications. The continuous growth in infrastructure development and construction projects across different regions contributes to the dominant position of the Building & Construction sector.
On the other hand, the Electrical & Electronics sector is witnessing rapid growth in the Unsaturated Polyester Resin market. This growth can be attributed to the increasing demand for electrical insulation materials with excellent dielectric properties and thermal stability. Unsaturated Polyester Resins are utilized in the manufacturing of electrical components such as switchgear, transformers, printed circuit boards, and insulating coatings. The escalating demand for consumer electronics, energy transmission systems, and renewable energy infrastructure has been driving the growth of the Electrical & Electronics sector in the Unsaturated Polyester Resin market.
Global Unsaturated Polyester Resin Market By Technology
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Unsaturated Polyester Resin Market Regional Insights
Asia Pacific holds a significant share in the UPR market due to various factors. The region is home to several emerging economies such as China, India, and South Korea, which have witnessed rapid industrialization and infrastructure development. The increasing demand for UPR in applications such as construction, automotive, and electrical & electronics has driven the dominance of Asia Pacific. Additionally, the region benefits from the presence of key manufacturers, availability of raw materials, and a large consumer base, contributing to its leading position in the UPR market.
Latin America, on the other hand, is expected to be the fastest-growing region in the UPR market. The region is experiencing robust economic growth, increasing urbanization, and rising investments in infrastructure projects. These factors have stimulated the demand for UPR in applications such as construction, marine, and transportation. Additionally, the growing automotive industry in countries like Brazil and Mexico is driving the consumption of UPR for composite materials. The focus on renewable energy and the development of wind energy projects in the region also provide opportunities for UPR market growth. These factors, combined with favorable government initiatives and increasing awareness of sustainable materials, contribute to the rapid expansion of the UPR market in Latin America.
Global Unsaturated Polyester Resin Market By Geography
- Largest
- Fastest
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Unsaturated Polyester Resin Market Dynamics
Drivers
Advantages over Conventional Materials
- Unsaturated polyester resin provides numerous benefits compared to conventional materials, including a high strength-to-weight ratio, resistance to corrosion, versatility, and ease of processing. These inherent properties make it an appealing choice for manufacturers across various industries. Consequently, the demand for unsaturated polyester resin continues to grow, driving the expansion of the market.
Restraints
Environmental and Health Concerns
- The production and utilization of unsaturated polyester resin result in the emission of volatile organic compounds (VOCs) and hazardous air pollutants. The environmental impact and potential health risks associated with these emissions have raised concerns among regulatory bodies and the public. As a result, stringent regulations focusing on VOC emissions have been implemented, posing challenges to the growth of the unsaturated polyester resin market. Manufacturers are required to adopt measures that reduce emissions and mitigate the environmental and health concerns associated with the production and use of unsaturated polyester resin.
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Unsaturated Polyester Resin Market Competitive Landscape
The global unsaturated polyester resin market exhibits a competitive landscape characterized by the presence of several key players. These companies actively participate in the manufacturing, distribution, and innovation of unsaturated polyester resins used in various industries. The market competition is driven by factors such as product quality, pricing strategies, research and development capabilities, and geographical presence.
Top Player’s Company Profiles
- AOC, LLC (US)
- Ashland Global Holdings Inc. (US)
- BASF SE (Germany)
- CCP Composites (France)
- Changzhou New Solar Co., Ltd. (China)
- Dow Chemical Company (US)
- DSM Composite Resins AG (Netherlands)
- DuPont de Nemours, Inc. (US)
- Eternal Materials Co., Ltd. (Taiwan)
- Hexion Inc. (US)
- Huntsman Corporation (US)
- Kukdo Chemical Co., Ltd. (South Korea)
- Lanxess AG (Germany)
- Nuplex Industries Ltd. (New Zealand)
- Polynt SpA (Italy)
- Reichhold LLC (US)
- Royal DSM N.V. (Netherlands)
- Scott Bader Company Ltd. (United Kingdom)
- U-Pica Company Ltd. (Japan)
- UPC Technology Corp. (Taiwan)
Unsaturated Polyester Resin Market Recent Developments
- In March 2023, Reichhold Inc. announced the launch of its new Vynlite 9980 resin. This resin is designed for use in high-performance applications, such as wind turbine blades and automotive body panels.
- In February 2023, Nuplex Industries Ltd. announced the acquisition of Polynt Composites. This acquisition will strengthen Nuplex's position as a leading global supplier of UPRs.
- In January 2023, UPC Technology Corp. announced the launch of its new UPR resin for use in 3D printing. This resin is said to be the first of its kind to be specifically designed for 3D printing applications.
- In December 2022, BASF SE announced the launch of its new UPR resin for use in the construction industry. This resin is said to be the first of its kind to be specifically designed for use in concrete reinforcement.
- In November 2022, AOC Resins announced the launch of its new UPR resin for use in marine applications. This resin is said to be the first of its kind to be specifically designed for use in boat building and repair.
Unsaturated Polyester Resin Key Market Trends
- Growing demand for sustainable and eco-friendly resins: With increasing environmental concerns and regulatory pressures, there is a rising emphasis on the development and adoption of sustainable materials across industries. This trend is driving the demand for Unsaturated Polyester Resins that are derived from renewable sources and exhibit lower environmental impact. Manufacturers are focusing on the production of bio-based or recycled Unsaturated Polyester Resins to meet the evolving sustainability requirements of end-users.
Unsaturated Polyester Resin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the Global Unsaturated Polyester Resin analysis, it highlights the significant market size of the Global Unsaturated Polyester Resin Market and its potential for growth in the forecast period. It examines the key factors driving market expansion, including the increasing demand for unsaturated polyester resin in various industries such as automotive, construction, marine, and electrical. The growth in these sectors, coupled with the rising urbanization and infrastructure development, is fueling the demand for unsaturated polyester resin globally. It also discusses the growing trend towards lightweight materials and eco-friendly solutions, which further boosts the adoption of unsaturated polyester resin. Furthermore, the report identifies the challenges faced by the industry, including price volatility of raw materials and the environmental impact associated with the production and disposal of unsaturated polyester resin. The report explores how companies are addressing these challenges through sustainable practices, recycling initiatives, and research and development activities to develop more environmentally friendly alternatives.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.87 billion |
| Market size value in 2031 | USD 11.11 billion |
| Growth Rate | 3.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Unsaturated Polyester Resin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Unsaturated Polyester Resin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Unsaturated Polyester Resin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Unsaturated Polyester Resin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Unsaturated Polyester Resin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Unsaturated Polyester Resin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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