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Unsaturated Polyester Resins Industry Set to Achieve $15.77 Billion Milestone by 2029 | Steady 7.5% CAGR
Unsaturated Polyester Resins Market
What Is the Long-Term Growth Forecast for the Unsaturated Polyester Resins Market Size 2025?
In recent years, the market size for unsaturated polyester resins has experienced robust growth. The market, valued at $11.16 billion in 2024, is projected to increase to $11.82 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. Various factors contributing to the growth during the historic period include expansion in emerging markets, swift industrialization, the escalating chemical industry, and increasing construction activities.
What CAGR is Forecasted for the Unsaturated Polyester Resins Market Through 2029?
In the coming years, the market for unsaturated polyester resins is anticipated to experience robust growth. The market is projected to reach a value of $15.77 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. This growth during the forecast period is attributable to several factors including increased government support, rapid urbanization, an expanding automotive industry, and a surging demand for fiber-reinforced plastic (FRP). Emerging trends in the forecast period incorporate the development of bio-based UPRS to produce monomer-free unsaturated polyester resins, a focus on expanding new plants, an emphasis on product innovation, and an intent on fostering partnerships and collaborations.
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What Are the Critical Factors Driving Unsaturated Polyester Resins Market Development?
The expansion of the construction sector is playing a significant role in the advancement of the unsaturated polyester resins market. This sector engages in preserving, restoring structures and buildings, and establishing new constructions. The rise in the building and construction industry propels the unsaturated polyester resins sector due to their characteristics such as quick strength acquisition, chemical resilience, corrosion resistance, high impact strength, and outstanding compressive strength properties that are beneficial in construction activities. The construction industry is seeing a surge. For example, Eurostat, a European government agency, reported in February 2024 that the average annual building production in the EU and the euro region rose by 0.1% and 0.2% respectively, relative to 2022. Consequently, the expansion of the construction sector is propelling the unsaturated polyester resins market.
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How Does the Unsaturated Polyester Resins Market Break Down Across Major Segments?
The unsaturated polyester resins market covered in this report is segmented -
1) By Type: Orthophthalic Resins, Isophthalic Resins, Dicyclopentadiene, Other Types
2) By Form: Liquid Form, Powder Form
3) By End-User: Building And Construction, Automotive, Marine, Pipes, Ducts And Tanks, Wind Energy, Electrical And Electronics, Other End-Users
Subsegments:
1) By Orthophthalic Resins: General-Purpose Orthophthalic Resins, Reinforced Orthophthalic Resins
2) By Isophthalic Resins: High-Performance Isophthalic Resins, Specialty Isophthalic Resins
3) By Dicyclopentadiene Resins: Dicyclopentadiene-Based Resins for Composites, Dicyclopentadiene-Based Resins for Coatings
4) By Other Types: Vinyl Ester Resins, Alkyd Resins, Other Specialty Resins
What Are the Major Trends Transforming the Unsaturated Polyester Resins Industry?
Top-tier companies in the unsaturated polyester resins market are concentrating on creating distinctive bio-based unsaturated polyester resins. Their aim is to lessen environmental harm and improve sustainability in their production methods to adhere to stringent regulatory requirements for environmentally-friendly substances and offer manufacturers potent alternatives in line with the growing consumer trend for greener products. Bio-based unsaturated polyester resin is a kind of synthetic polymer mainly derived from renewable resources like plant-based materials, natural oils, and starches rather than conventional petroleum sources. For example, Exel Composites, a Finnish company that specializes in pultruded and pull-wound composite solutions, introduced a new bio-based unsaturated polyester resin in October 2024 aimed at improving sustainability in composite manufacturing. This innovative resin comes from renewable sources, offering a green alternative to conventional petroleum-based resins. It's particularly well-suited for use in the automotive and transportation sectors aiming to lower carbon emissions. The new resin upholds high-performance and durability standards, making it a desirable choice for manufacturers seeking to use environmentally friendly materials while still catering to industry demands for quality and efficiency.
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Which Players Are Driving Innovation in the Unsaturated Polyester Resins Market?
Major companies operating in the unsaturated polyester resins market include DOW Inc, BASF SE, INEOS Group Holdings S.A., SABIC, UPC Technology Corporation, Eternal Materials Co Ltd, Polynt Group S.A.R.L., Mitsubishi Gas Chemical Company Inc, DIC Corporation, Scott Bader Company Ltd, Interplastica Pvt. Ltd., Poliya Composites Resins, Polymers India Private Limited, Reichhold India Private Limited, Scott Bader India Private Limited, Swancor India Private Limited, Zhejiang Tianhe Resin Co Ltd, Jiangsu Fullmark Chemicals Co. Ltd, Shenzhen Wote Advanced Materials Co. Ltd, Hubei Phoenix Chemical Company Ltd, CIECH Sarzyna, Nouryon Chemicals, BÜFA Composites, LERG SA, Orson Resins and Coatings Private Limited (ORCPL), Mader Composites France M.C.F, Euroresins SAS, Ashland Inc., Interplastic Corporation, Pacific Materials Inc, Polyplastics USA Inc, DuPont, Mitsubishi Chemical Group, Celanese Corporation, AOC Resins, ExxonMobil Chemical, Innova, braskem, PVC Resin (Polyvinyl Chloride Resin), Resina Brasil, Saad Fiber Glass Trad Llc, Modest Marketing LLC, Fortune Emirates General Trading LLC, Polychem Resins International Industries LLC, Chemipol Trading (Pty) Ltd, NCS Resins, KZN Resins, General Chemical Company
Which Regions Are Driving Global Unsaturated Polyester Resins Market Expansion?
Asia-Pacific was the largest region in the unsaturated polyester resins market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unsaturated polyester resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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