According to the latest report published by Credence Research, Inc. “Global Unsaturated Polyester Resin Market By Type (Orthophthalic Resins, Isophthalic Resins, Dicyclopentadiene Resins, Other), By End-Use Industries (Building & Construction, Marine, Transportation, Pipes & Tanks, Electrical & Electronics, Wind Energy, Others) – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the worldwide Unsaturated Polyester Resin market was valued at US$ 10,052.8 million in 2017, with CAGR anticipated to expand by 5.50 percent from 2018 to 2026.
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Unsaturated polyesters are copolymers obtained from polymerizing diol with saturated and unsaturated dicarboxylic acids or their anhydrides. Unsaturated Polyester Resin market size was valued at US$ 10,052.8 million in 2017, with CAGR growth of 5.50 percent over the forecast period from 2018 to 2026. Unsaturated Polyester Resin market is motivated by a variety of variables, such as growing demand from end-use sectors, vital polymers for the manufacturing of composite materials, economical options compared to other resins, etc. Due to its heat, flexible composites, mechanical and morphological properties, unsaturated polyester resins are widely used in multiple sectors. In addition, they are used in the manufacture of composites owing to the powerful mechanical characteristics. The Orthophtalic form is the leading segment followed by the Isophthalic type in 2017. Orthophthalic is the most preferred form of resin to other resins due to low cost, toughness and chemical resistance.
Building & Construction retained the biggest market share of Unsaturated Polyester Resin by the end-use sector in 2017. In the construction and construction industry, unsaturated polyester resins discover promising applications in roofing, building panels, concrete forming boards, reinforcement and household composite structures. Renovation operations for aging infrastructure around the globe, particularly in developed economies, are anticipated to increase demand for unsaturated polyester resins from the construction and construction industry. Unsaturated Polyester Resins has a favorable perspective in the end-use transport sector due to increased lifespan and improved efficiency of end-products, even in an negative and difficult setting. In addition, growing demand for automotive parts with greater rigidity and wear resistance creates an growing pressure on producers to create special resins, such as UPR, which can be strengthened with a filler without influencing dynamic load.
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Based on the geography, Asia-Pacific dominated the global Unsaturated Polyester Resin market in 2017 in terms of value and volume. China and India are among the major market for Asia-Pacific owing to booming construction, automotive, and electronics end-use industries. China is also the largest producer of unsaturated polyester resins in the world. Many manufacturers are moving their base from developed to developing countries in through merger & acquisition, joint ventures, and partnership due to cheap availability of raw materials, labor, and liberal government policies also fueling the supply for unsaturated polyester resins in emerging economies. For instance, Reichhold Industries Inc. proposed to set up an additional manufacturing unit of unsaturated composite resin at Pune, India in February 2016.
Since, Unsaturated Polyester Resins market is moving towards consolidation, merger and acquisition is the key strategy adopted by many giants to get an edge over other players in this highly competitive market. Key manufacturers of unsaturated polyester resins include Reichhold Inc. (U.S.), Ashland Inc. (U.S.), BASF SE (Germany), Scott Bader (U.K.) and Royal DSM (Netherlands) among others.
By Type Segment (2016–2026; Kilo Ton, US$ Mn)
- Orthophthalic Resins
- Isophthalic Resins
- Dicyclopentadiene Resins
- Other Resins
By End-use Industry (2016–2026; Kilo Ton, US$ Mn)
- Building & Construction
- Pipes & Tanks
- Electrical & Electronics
- Wind Energy
- Others (artificial stones, coatings, etc.)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America