Unsaturated Polyester Resins Market Size to Hit US$ 17.6 Billion at 5.9% CAGR by 2028

The latest report by IMARC Group, titled "Unsaturated Polyester Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The global unsaturated polyester resins market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Unsaturated polyester resins, commonly referred to as UP resins, are a versatile class of thermosetting polymers extensively used in various industries. These resins are derived from the reaction between saturated diols and unsaturated dicarboxylic acids. The resulting polymer possesses excellent mechanical and chemical properties, making it highly desirable for a wide range of applications. One of the defining characteristics of unsaturated polyester resins is their ability to undergo curing or cross-linking processes, typically triggered by the addition of initiators and accelerators. This curing process transforms the liquid resin into a solid, rigid material, making it ideal for applications such as fiberglass composites, laminates, and coatings. UP resins are particularly valued in the manufacturing of composite materials due to their exceptional corrosion resistance, low shrinkage, and high strength-to-weight ratio.

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Unsaturated Polyester Resins Market Trends and Drivers:

The robust growth in the construction industry worldwide is a significant driver. Unsaturated polyester resins find extensive use in the manufacturing of construction materials like pipes, panels, and tanks due to their durability and resistance to harsh environmental conditions. Additionally, the expanding composites industry driven by automotive, aerospace, and wind energy sectors rely heavily on unsaturated polyester resins for lightweight, high-strength components. The trend toward lightweighting in automotive and the growing wind energy market are particularly noteworthy. Other than this, urbanization and infrastructure development in emerging economies fuel the need for construction materials, thereby driving demand for these resins. Furthermore, ongoing research and development efforts have led to the introduction of environment-friendly and high-performance unsaturated polyester resins, attracting more customers and applications. Moreover, overall economic growth, particularly in Asia-Pacific, drives construction and industrial activities, thus boosting demand for unsaturated polyester resins.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

AOC LLC
Ashland LLC
BASF SE
CCP Composites Ltd
E. I. Du Pont
Allnex Resins Australia Pty Ltd
Polynt Composites USA Inc.
Reichhold Inc.
Koninklijke DSM N.V.
Scott Bader Company Ltd.
Upc Technology Corporation

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The report has segmented the market on the basis of Product Type, End-User and Region.

Breakup by Type:

Orthophthalic Resin
Isophthalic Resin
Dicyclopentadiene (DCPD) Resin
Others

Breakup by End-Use:

Building and Construction
Automotive
Marine
Pipes, Ducts and Tanks
Wind Energy
Electrical and Electronics
Others

Breakup by Form:

Liquid Form
Powder Form

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

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