Unsaturated Polyester Resin Market Is Estimated to Reach at a US$ 22.5 billion. 2033

The global unsaturated polyester resin market currently accounts for a value of US$ 13.1 billion and is pegged for expansion at 5.5% CAGR from 2023 to 2033. By the end of the forecast period, global demand for unsaturated polyester resins is thus estimated to secure a revenue of US$ 22.5 billion.

Growth of this market is accredited to superior quality of products, and components manufactured using different kinds of unsaturated polyester resins. The versatility of applications in high-growth industries such as building & construction, marine, and automotive will continue to generate profits. However, as governments around the world cut off non-essential imports and exports to contain coronavirus, the market for unsaturated polyester resins will witness a marginal slump. Market players are facing challenges in production and distribution channels. China is the largest market for unsaturated polyester resins. The effect of COVID-19 on Chinese economy greatly affects the growth trajectory of this market.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:https://www.factmr.com/connectus/sample?flag=S&rep_id=4731?PJ

Unsaturated polyester resin is a thermosetting polymer with a wide range of applications in various industries, including construction, automotive, marine, and aerospace. It is a key component in the production of composite materials, where it is often combined with reinforcing fibers, such as fiberglass, to create high-strength, lightweight structures. UPR offers advantages like corrosion resistance, ease of molding, and versatility in formulation. The market's performance is closely tied to the manufacturing and construction sectors, as well as technological advancements in resin development.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

Prime unsaturated polyester resin vendors are focusing on mergers, acquisitions, and collaborations that allow them to widen their business scope and strengthen their share in the global marketplace.

In October 2020, Ashland Global Holdings Inc., a leading American chemicals company, announced that it had completed the sale of its maleic anhydride business along with a manufacturing facility in West Virginia to AOC Materials. The deal was closed at US$ 100 million and helped AOC strengthen its unsaturated polyester resin business as maleic anhydride is a common raw material for its manufacturing.

A more detailed and elaborative account of how new developments by top unsaturated polyester resin producers influence aspects such as pricing trends and product standards has been mentioned in this latest Fact.MR research analysis.

𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀:

𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗘𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁𝗮𝗹 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀: An overarching trend in the UPR market is the increasing focus on sustainability and environmental concerns. Manufacturers are exploring ways to develop UPR formulations that are more eco-friendly, including low-VOC (volatile organic compounds) resins and those made from renewable sources.

𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱 𝗖𝗼𝗺𝗽𝗼𝘀𝗶𝘁𝗲𝘀: The market is experiencing significant growth in the use of UPR in advanced composites. These composites are utilized in high-performance applications, such as wind turbine blades, aerospace components, and automotive parts, due to their excellent strength-to-weight ratio.

𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝗙𝗼𝗿𝗺𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀: Continuous research and development are leading to the creation of UPR formulations with improved properties, such as fire resistance, enhanced toughness, and better UV resistance. These innovations expand the range of applications for UPR.

𝗕𝗶𝗼-𝗕𝗮𝘀𝗲𝗱 𝗥𝗲𝘀𝗶𝗻𝘀: Bio-based UPRs, derived from renewable sources like soybean oil or corn starch, are becoming increasingly popular as an eco-friendly alternative to petroleum-based UPRs. These resins help reduce the environmental impact of the manufacturing process.

𝗖𝗼𝗺𝗽𝗼𝘀𝗶𝘁𝗲𝘀 𝗶𝗻 𝗔𝘂𝘁𝗼𝗺𝗼𝘁𝗶𝘃𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆: The automotive industry is progressively adopting UPR-based composites to reduce vehicle weight and improve fuel efficiency. UPR composites are used in the manufacturing of automotive parts, including bumpers, interior components, and body panels.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗼𝗳 𝗨𝗻𝘀𝗮𝘁𝘂𝗿𝗮𝘁𝗲𝗱 𝗣𝗼𝗹𝘆𝗲𝘀𝘁𝗲𝗿 𝗥𝗲𝘀𝗶𝗻 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆

Dicyclopentadiene Unsaturated Polyester or DCPD - UPR is the most popular product type. The segment accounts for more than 35% share of the total market value on the back of increasing applications in large, glass-fibre reinforced plastic products.

Higher flexibility and tensile strength make Isophthalic products the highest growing product type segment. Isophthalic products will grow at a flourishing 6.5% CAGR through 2029.

Building & Construction end-use segment is the most remunerative avenue for unsaturated polyester resin manufacturers. The segment holds more than 26% share of total market revenues and will grow 1.4X between 2019 and 2029.

Marine, transport, and artificial stones are financially rewarding end-use segments for market players. Among these, transport is the most rewarding with an impressive 7.2% CAGR during the forecast period.

East Asia accounts for a majority share of more than 40% of the total market value. Multiplying infrastructure investment by countries such as China, and Japan will continue to strengthen growth in this region.

South Asia & Oceania is the most lucrative region with 6.7% CAGR through 2029. Booming automotive industry, and the need for energy efficient infrastructure in Indonesia, Singapore, and Malaysia contribute to the growth potential of this region.

𝗞𝗲𝘆 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗼𝗳 𝗨𝗻𝘀𝗮𝘁𝘂𝗿𝗮𝘁𝗲𝗱 𝗣𝗼𝗹𝘆𝗲𝘀𝘁𝗲𝗿 𝗥𝗲𝘀𝗶𝗻 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

𝗕𝘆 𝗣𝗿𝗼𝗱𝘂𝗰𝘁:

DCPD

Orthophthalic

Isophthalic

Others

𝗕𝘆 𝗘𝗻𝗱 𝗨𝘀𝗲 :

Building & Construction

Tanks & Pipes

Electrical

Marine

Transport

Artificial Stones

Others

𝗕𝘆 𝗥𝗲𝗴𝗶𝗼𝗻 :

North America

Latin America

Europe

APAC

MEA

𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗡𝗲𝘄𝘀:

several noteworthy developments and news items were shaping the UPR market:

Sustainable Initiatives: Leading UPR manufacturers were launching sustainable initiatives to reduce their carbon footprint and offer eco-friendly products. This included investing in renewable energy sources and adopting cleaner production processes.

Government Regulations: The industry was closely monitoring government regulations related to emissions and environmental impact. Stricter regulations were driving the development of low-VOC and sustainable UPR formulations to comply with environmental standards.

Mergers and Acquisitions: Several mergers and acquisitions in the UPR market were aimed at expanding product portfolios and global reach. These strategic moves allowed companies to offer a broader range of resins and services to their customers.

Advanced Applications: The UPR market was witnessing increased demand for advanced applications, such as composites used in the aerospace and wind energy sectors. These industries rely on UPR composites for their strength and durability.

Collaboration and Research: Collaboration between UPR manufacturers, research institutions, and end-users was fostering innovation in the industry. Joint research projects were focused on developing novel UPR formulations and exploring new applications.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀:https://www.factmr.com/connectus/sample?flag=RC&rep_id=4731?PJ

𝗙𝘂𝘁𝘂𝗿𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:

The future of the unsaturated polyester resin market appears promising, with ongoing growth expected due to its versatile applications and increasing emphasis on sustainability. The development of advanced composites and bio-based UPRs will likely drive the market's expansion in various sectors, including construction, automotive, and renewable energy.

Sustainability initiatives and the production of eco-friendly UPR formulations are expected to continue to gain importance. As environmental regulations become stricter, manufacturers will prioritize reducing the environmental impact of their products and production processes.

Innovations in UPR formulations will further expand the range of applications for this versatile material. As industries seek high-performance and lightweight materials, UPR composites are likely to play an essential role in various advanced applications, such as in the aerospace and wind energy sectors.

In conclusion, the unsaturated polyester resin market is poised for sustained growth, driven by advancements in formulation, an increasing focus on sustainability, and expanding applications in key industries. As UPR continues to offer solutions for lightweight, durable, and eco-friendly materials, it remains a crucial component of modern manufacturing and construction.

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This release was published on openPR.