Unsaturated Polyester Resins Market to Reach USD 16.81 Billion by 2030 Driven by Eco-Friendly Products and Rising Construction Activity

The global unsaturated polyester resins market Size was valued at USD 10.31 billion in 2022, and is expected to reach USD 16.81 billion by 2030, and grow at a CAGR of 6.3% over the forecast period 2023-2030. This upward trend is primarily driven by the increasing demand for eco-friendly and energy-saving products. Unsaturated polyester resins (UPRs) offer a compelling solution, boasting excellent properties like durability, corrosion resistance, and recyclability - aligning perfectly with the growing focus on sustainability. The unsaturated polyester resins (UPR) market is experiencing robust growth driven by their versatile applications across diverse industries, including construction, automotive, marine, and electrical. UPRs, derived from the reaction between saturated and unsaturated diacids and diols, serve as essential components in composite materials, coatings, adhesives, and laminates. With their excellent mechanical properties, corrosion resistance, and ease of processing, UPRs are widely used in applications such as fiberglass-reinforced plastics (FRP), gel coats, automotive parts, and corrosion-resistant tanks.

One of the key trends shaping the UPR market is the increasing demand for lightweight and high-strength materials in automotive and transportation applications. With stringent fuel efficiency standards and emission regulations driving the automotive industry towards lightweight solutions, UPRs are gaining prominence as a viable alternative to traditional materials such as metals and thermoplastics. Manufacturers are leveraging UPRs' excellent strength-to-weight ratio and moldability to produce lightweight composite components for vehicles, reducing overall weight and improving fuel efficiency without compromising on performance or safety. Moreover, advancements in UPR formulation technology and composite manufacturing processes are driving innovation and product development in the market. Manufacturers are investing in research and development to enhance UPR properties such as toughness, fire resistance, and weatherability to meet the stringent requirements of different applications. Additionally, the development of bio-based and sustainable UPR formulations derived from renewable resources further expands market opportunities and addresses growing concerns about environmental sustainability and carbon footprint.

Get a Report Sample of Unsaturated Polyester Resins Market @ https://www.snsinsider.com/sample-request/2392 

Some of the Key Players Included are:
LERG SA
DOW Inc.
Von Roll
BASF SE
AOC
Ineos Group
DSM
TIANHE RESIN CO., LTD.
Scott Bader Company Ltd.
UPC GROUP
other players
Market Analysis:

The increasing preference for eco-friendly and energy-saving products is expected to propel the unsaturated polyester resins market forward. UPRs shine brightly in this regard, as they are extensively used in FRP production, a material known for its lightweight nature and reduced energy consumption during transportation. Additionally, UPRs boast a range of desirable physical and chemical properties, including superior tensile strength, impact resistance, and exceptional bonding and corrosion & heat resistance. These characteristics make them a popular choice for applications across construction materials, housing equipment, and transportation equipment. Furthermore, ongoing research and development (R&D) in bio-based unsaturated polyester resins presents a significant growth driver. These bio-based alternatives offer the enticing combination of recyclability, enhanced strength, and superior thermal & corrosion resistance at lower material thicknesses. Technological advancements, continuous product range expansion through innovation, and dedicated research efforts are all designed to further stimulate market demand.

Make Enquiry About Unsaturated Polyester Resins Market Report@ https://www.snsinsider.com/enquiry/2392

Segment Analysis:

The liquid form segment reigns supreme in the unsaturated polyester resins market, capturing a staggering 72.0% of revenue share in 2022. This dominance is primarily attributed to the significant growth witnessed in the construction, electronics, and glass industries. UPRs in liquid form are widely employed for coating, insulation, and a plethora of other purposes within these sectors. Additionally, unsaturated polyester resin composites and liquid UPRs have become integral components in modern construction practices.

By Type:
Orthophthalic resin
Isophthalic resin
Dicyclopentadiene (DCPD)
Others (Gelcoat resin, Terephthalic resin, & Chlorendic resin)

By End-use Industry:
Building & Construction
Marine
Transportation
Pipes & Tanks
Electrical & Electronics
Wind Energy
Artificial Stones
Others

Impact of Russia-Ukraine war:
The ongoing Russia-Ukraine war has cast a shadow of uncertainty on the global supply chain. This conflict has disrupted the flow of raw materials and impacted transportation costs, potentially leading to price volatility for unsaturated polyester resins. Market players need to adopt a strategic approach to secure reliable supply chains and mitigate potential cost fluctuations. Russia and Ukraine are significant players in the production of various raw materials used in UPR manufacturing, including styrene, a crucial component. The war has disrupted the flow of these raw materials, leading to potential shortages and price fluctuations. Market players might need to source materials from alternative suppliers, potentially impacting production costs and timelines.

Impact of Economic Slowdown:

An economic slowdown can also pose challenges to the market. Reduced consumer spending power might translate into lower demand for UPR-based products in certain end-use industries, such as the automotive sector. For instance, a decline in car sales could dampen the demand for UPRs used in car parts manufacturing. However, the long-term growth prospects of the construction industry, especially in developing economies, are expected to provide a counterbalancing effect.

Regional Analysis:

The Asia Pacific region is poised to dominate the global unsaturated polyester resins market, presenting lucrative opportunities for market participants. This dominance is fuelled by the burgeoning use of UPRs across various end-use industries in the region, including automotive, marine, and construction & building. China, a major player in the region, has actively boosted its production capacity for unsaturated polyester resins to capitalize on the revenue-generating potential of this market. The rising sales of UPR-based composites across diverse end-use industries within the region further accentuates the regional market's growth trajectory.

Buy the Latest Version of Unsaturated Polyester Resins Market Report 2023-2030 @ https://www.snsinsider.com/checkout/2392

Key Takeaways for the Unsaturated Polyester Resins Market

The growing demand for eco-friendly and energy-saving products is a key driver for the unsaturated polyester resins market.
UPRs offer versatility, durability, and recyclability, making them a preferred choice across numerous applications.
Ongoing R&D in bio-based UPRs presents exciting opportunities for sustainable growth.
The Asia Pacific region is expected to lead the market due to the burgeoning construction industry and increasing demand from various end-use sectors.
Market players need to navigate potential disruptions caused by global events and implement
 
Recent Developments:

The commercial activities of Satyen Polymers Pvt Ltd were acquired by Scott Bader Pvt Ltd, India, in July 2022. For all resin and gelcoat products, this acquisition will assist in direct sales and marketing.

April 2022 AOC has announced an additional price increase of EUR 175 per ton for its entire portfolio of composite resins sold in Europe, the Middle East and Africa. The price increase shall take effect without delay or as soon as the contract allows.

November 2022 Cooperation in the field of stationary storage systems for renewable energy projects has intensified between BASF and Gphilos.

Related Reports:

 https://www.snsinsider.com/reports/cotton-yarn-market-3409

https://www.snsinsider.com/reports/aluminium-market-3410

https://www.snsinsider.com/reports/solid-waste-management-market-3411

https://www.snsinsider.com/reports/pelargonic-acid-market-3496

https://www.snsinsider.com/reports/biostimulants-market-3497

https://www.snsinsider.com/reports/copper-fungicides-market-3498

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we

This release was published on openPR.