What is the global market size of Unsaturated Polyester Resins Market?

Unsaturated Polyester Resins Market size was valued at USD 9.6 billion in 2021 and is poised to grow from USD 10.19 billion in 2022 to USD 17.36 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Unsaturated Polyester Resins Market?

The two main strategies companies use are joint ventures and capacity expansion. Reichold, Royal DSM, Deltech, Polynt, Dow, BASF SE, and INEOS are major players in the market. To obtain a competitive edge in the global market, businesses are using methods like distribution improvement, new product creation, acquisition, collaboration, and mergers. For instance, Reichold is one of the major suppliers of a wide variety of saturated and unsaturated polyester resins for use in a variety of applications. Deltech is another significant competitor with a wide selection of resins based mostly on unsaturated polyester and alkyd chemistry. The business can produce batches of resin weighing 20 tonnes. 'AOC LLC', 'Ashland Global Holdings Inc.', 'BASF SE', 'Dow Chemical Company', 'Reichhold LLC', 'DSM NV', 'U-Pica Company Ltd.', 'Polynt-Reichhold Group', 'Changzhou Fangxin Chemical Co. Ltd.', 'Sino Polymer Co. Ltd.', 'Changzhou Huari New Material Co. Ltd.', 'Scott Bader Company Ltd.', 'Royal DSM NV', 'Sumitomo Bakelite Co. Ltd.', 'Swancor Ind. Co. Ltd.', 'Nuplex Industries Ltd.', 'Tianhe Resin Co. Ltd.', 'Aliancys AG', 'Nivitex Fibreglass & Resins', 'Interplastic Corporation'

What is the key driver of Global Unsaturated Polyester Resins Market?

Growing Demand from the Building and Construction Sector for Unsaturated Polyester Resin to Support Market Growth

What is the key market trend for Global Unsaturated Polyester Resins Market?

There will be opportunities for growth due to the high demand for UPR from various end-use industries. The expansion of the main market is being positively impacted by the increasing demand for UPR from a number of end-use sectors, including automotive, aerospace, electrical & electronics, and marine. Printed circuit boards, ducts, and panels are all applications for this product. The automotive and marine sectors use this substance as a composite material to construct vehicles and boats. This material serves as a suitable product to be employed in various industries since composite materials created from it are affordable and lightweight, which leads to the strong demand for unsaturated polyester resin. Additionally, this material's advantageous qualities, including corrosion resistance, insulation, flexibility, strength, and durability, make it a good choice for use in electrical and electronic applications. Because of these characteristics, this product is a very demanding material for the production of microwave antennas, wiring boards, and electrical insulation devices. The need for products in end-use industries like wind, aerospace, and pipelines and tanks is also expected to grow in the near future, supporting increased product consumption.

Which region accounted for the largest share in Global Unsaturated Polyester Resins Market?

The global unsaturated polyester resins market is predicted to be dominated by the Asia Pacific region, offering market participants lucrative potential. Unsaturated polyester resins are increasingly being used in a variety of end-use industries, including the automotive, maritime, and construction and building sectors. China has increased its capacity for producing these polymers in order to increase revenue. One important element highlighting the regional market is the strengthening sales of composites made with unsaturated polyester resins in a number of end-use applications in the area. A number of businesses in important regions are engaging in mergers and acquisitions, which is likely to increase competition in the market. The market is currently undergoing advances toward consolidation.

Global Unsaturated Polyester Resin Market

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 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.

Unsaturated Polyester Resin Market Report Snapshots

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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).

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. '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 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.

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.

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.

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Unsaturated Polyester Resin Market Dynamics

Unsaturated Polyester Resin Market Report Snapshots

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What is the global market size of Unsaturated Polyester Resin Market?

Who are the key vendors in the Unsaturated Polyester Resin Market?

What is the key driver of Unsaturated Polyester Resin Market?

What is the key market trend for Unsaturated Polyester Resin Market?

Which region accounted for the largest share in Unsaturated Polyester Resin Market?

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