Unsaturated Polyester Resins Market Size, Share, Growth Analysis, By Type(Ortho phthalic, Isophthalic & DCPD), By End Use(Building & Construction, Marine, Transportation, Pipes & Tanks), By Region - Industry Forecast 2024-2031

Unsaturated Polyester Resins Market size was valued at USD 9.6 billion in 2019 and is poised to grow from USD 10.19 billion in 2023 to USD 17.36 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

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 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 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'

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

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.

The 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.