Press release
Unsaturated Polyester Resin (UPR) Market size $12.8bn by 2022: Global Market Insights, Inc.
Positive indicators for increasing composites usage across transportation and infrastructure industry owing to light weight & durability in comparison to metallic counterparts should favor UPR market size. Unsaturated polyester resin, orthophthalic, is used in the manufacture of general purpose composites which require moderate structural properties.
UPR composites also posses excellent aesthetic value and can be easily pigmented to suit the need of a particular industry, without compromising on the structural properties of the finished product. Moreover, several manufacturers are developing alternative methods to manufacture products from biomass which may stimulate bio UPR market size.
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APAC is a large scale manufacturing hub for chemicals, automotive and electronics. In terms of revenue, APAC dominant by India and China UPR market size, may surpass USD 6 billion revenue by 2022. On-going construction activities along with automobile production growth in China, Thailand India should drive composites demand for structural modification over the next few years.
Orthopthalic unsaturated polyester resin market size may attain over 7.2% growth in revenue terms. These resins are extensively used in the fiber reinforced plastics (FRP) industry. FRPs are being increasingly used in a wide range of applications such as pools, tanks, plates, vessels, car bodies and other general pieces.
Building & construction industry should witness over 6% CAGR. Strong indicators for construction spending particularly in BRICS nations should drive UPR market size. Growing fiberglass market in China coupled with rising FRP demand in construction applications should drive product demand.
Unsaturated polyester resin is used as body filler for rapid reconstruction and repair of damaged vehicles part. Growing lightweight materials demand in automotive industry in order to reduce emissions and increase fuel efficiency should drive product demand. In addition, it is used for doors, roofs, bumpers and interiors to repair damages caused during accidents.
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Major industries are implementing technological innovation to develop low cost system and are focusing on expanding their existing product portfolio. Raw materials used for manufacturing resins are isophthalic acid, phthalic anhydride, maleic anhydride and glycols. Tight raw material supply situation may affect end product cost and put constraint UPR market price trend.
Key insights from the report include:
Isophthalic polyester market size should achieve over 6% growth and exceed 2 million tons by 2022.
Tanks & pipes industry in EU may generate over USD 470 million by 2022. Increasing FRP tanks & pipes demand may drive UPR market size growth. Rising concern over corrosion associated with tanks & pipes made of metals along with gaining importance of tank farm management in onshore and offshore oil & gas applications have increased the scope for FRP tanks and pipes.
DCPD unsaturated polyester resin market share in Europe generated over 160 kilo tons in 2014. European Commission has framed regulations for restricting styrene monomer usage which should drive (dicyclopentadiene) DCPD demand.
Electrical industry in Central & South America consumed over 30 kilo tons in 2015. Growing composites demand in printed circuit boards (PCBs) due to their superior properties such as unparalleled rigidity and durability should have a positive influence in UPR market size growth.
Artificial stone based unsaturated polyester resin market size should show significant gains at over 6.2% CAGR. It is also known as polyester stones which are used as internal decorative material in walls, columns, wall painting and architectural reliefs.
Marine application in North America generated over 65 kilo tons in 2014. Growing UPR demand in marine applications on account of exhibiting properties such as inherent strength, weather-resistant finish and hydrolytic stability should drive industry growth.
Global UPR market share is fragmented. BASF, Dow, Ashland, CCP Composites and Changzhou are among notable industry players. Other prominent participants include DSM, DuPont, Reichhold and Lanxess.
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Source: Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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