In 2019, the global unsaturated polyester resin market was valued at USD 11.63 trillion. The demand for isophthalic in these segments will likely be driven by recent developments in building and construction, tank and pipes, and other end-use sectors. The market for unsaturated polyester resin will be positively influenced by the increasing use of eco-friendly and energy-saving products.
Market growth will be boosted by ongoing research and development in bio-based unsaturated Polyester resin. They offer excellent strength, recyclability and thermal and corrosion resistance, with a lower thickness. The product's potential applications will be expanded by technological innovations and other studies.
The majority of plastic composites are made from unsaturated polyester resin. Composite materials are increasingly being used in various industries, including construction and transportation, as well as industrial and recreational sports and recreation. Composite materials have many advantages, including low material costs, chemical and corrosion resistance and flexibility in component design. They also offer electrical insulation, which is a significant advantage over conventional materials like concrete and metal components.
Composite materials can be used to make frames, panels, interior parts, and other components for the automotive, transport, agriculture, construction, and agricultural industries. Unsaturated polyester resin composites can be used in the electrical and electronics industries to make microwave antennas, substation equipment and printed wiring boards. They also serve as standoffs, pole hardware, and standoffs. Their wide range of applications is expected to increase their demand during the forecast period.
Orthophthalic was the most profitable product segment in terms of revenue and accounted to over 35% of the unsaturated polyester market in 2019. Because of its mechanical properties, low thermal stability and corrosion resistance, orthophthalic is suitable for many industries. Orthophthalic is lighter in weight, which makes it easier to use and transport.
DCPD is a white crystal compound that results from the separation of C5 petroleum products like naphtha, crude oil, and gas oils. PDCPD is made from DCPD by polymerizing it to create PDCPD. This compound has high deflection temperatures, chemical resistance, and impact resistance.
PDCPD is used mainly for the production of construction machinery, tractors and buses. The segment's growth is expected to be boosted by the increasing use of DCPD in marine applications, such as recreational boats. This is due to its low resin shrinkage and lack of fiber. Additionally, DCPD's low VOC emissions and high styrene levels will likely fuel its demand as an alternative to orthophthalic resin over the next few years.
Unsaturated polyester resin is being increasingly used in the construction and building industry as reinforcement, roofing, concrete and composites of house structures, factories, buildings and mass transit applications. The global construction market has been influenced by the Middle East and BRICS countries. This will lead to an increase in demand for unsaturated resin over the forecast period.
Fiber reinforced plastic pipes and tanks have seen an increase in demand due to rising concerns about corrosion of metal pipes and tanks, as well as the increasing importance of tank farm management in offshore and onshore oil and gas applications. Over the next eight years, UPR market growth is expected to be accelerated by a growing demand for fiber reinforced plastic pipes and tanks.
Additionally, the increasing number of offshore drilling for crude oil, which is more susceptible to corrosion in Brazil, the Middle East and other countries, will likely increase the use fiber reinforced plastic in the future. The market will see a rise in demand for unsaturated polyester composite material in printed circuit board (PCBs) in the near future due to their exceptional properties like unsurpassed rigidity and durability.
The market for UPR is predicted to grow due to rising demand for UPR in solder pallets and speaker housings as well as reinforced cell phones. The availability of alternative polymers resins such as epoxy resin or nylon for composites manufacturing will likely limit the demand for UPR for electrical end uses.
Asia Pacific was the dominant market for UPR in 2019, with a revenue share exceeding 57.0%. The growth of major end-use industries like construction, electronics, transport, and marine is driving the market. The strong manufacturing base in China, Japan and India, as well as increased passenger vehicle sales, will likely drive the UPR market's growth in the near future.
Additionally, the government of India has implemented favorable policies like Make in India and foreign direct investment (FDI). These policies are expected to provide ample growth opportunities for the automobile industry. This will in turn increase the use of unsaturated polyester resin in automotive applications.
The North American market for unsaturated polyester resins is driven primarily by the expansion in electronics, construction, and manufacturing. UPR and UPR based composites are widely used in the construction and building sector, as well as in other applications like tanks and pipes.
The market for North America is forecast to benefit from the recovery of the region's construction industry, which will be attributed to the increasing demand for nonresidential construction projects like schools, hospitals, and colleges.
To maintain product quality and increase regional reach, most of the major players in the UPR market have merged their production and distribution operations. These initiatives give companies a competitive edge in the form cost savings, which increases the profit margin. Companies engage in mergers and acquisitions, as well as research and development activities, to create new products that will sustain market competition and change the needs of end-users.
In the next few years, the industry will accept new materials that combine multiple properties through research. INEOS and BASF SE are some of the most prominent companies that manufacture these products. Ltd., Satyen Polymers Pvt. Ltd. Dow, UPC Group. Scott Bader Company Ltd. Tianhe Resin Co. Ltd. and LERG SA.
This report provides a forecast of revenue and volume growth at the global, regional and country level. It also analyzes the most recent industry trends in each sub-segment from 2016 to 2027. Grand View Research has divided the global unsaturated polyester resin industry report by product, end-use, and region.
Product Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
DCPD
Orthophthalmic
Isophthalmic
Other
End-use Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
Building & Construction
Tanks & Pipes
Elec.
Marine
Transport
Artificial Stones
Other
Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
North America
U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
Central & South America
Middle East & Africa
b. The market for unsaturated polyester resins worldwide was valued at USD 11.65 billion in 2019, and is forecast to grow to USD 12.32 billion by 2020.
What is the market growth rate?b. Global unsaturated polyester resin markets are expected to grow at 6.3% annually between 2019 and 2027, reaching USD 18.9 billion in 2027.
Which segment had the largest market share for unsaturated polyester resin?b. b. In the near future, unsaturated polyester resin market growth will be supported by the strong manufacturing base in China, Japan, India.
Which companies/players are key in the unsaturated polyester resin marketb. INEOS, BASF SE and Polynt, Koninklijke DSM N.V. are some of the key players in the telemedicine industry. Ltd., Satyen Polymers Pvt. Ltd. Dow, UPC Group. Scott Bader Company Ltd. Tianhe Resin Co. Ltd. and LERG SA.
What are the main factors that drive the unsaturated polyester resin industry?b. Its properties, such as its recyclability and excellent strength, thermal and corrosion resistance with lower thickening, are key factors driving market growth.
Up Market Research published a new report titled “Unsaturated Polyester Resin Market research report which is segmented by Product (DCPD, Orthophthalic, Isophthalic), by End Use (Electrical, Marine, Building & Construction), By Players/Companies Scott Bader Company Ltd, Tianhe Resin Co, LERG SA, Ltd, INEOS, U-PICA Company Ltd, Eternal Materials Co, Dow, Polynt, BASF SE, Satyen Polymers Pvt Ltd, Ltd, UPC Group, Koninklijke DSM NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Unsaturated Polyester Resin Market Research Report |
By Product | DCPD, Orthophthalic, Isophthalic |
By End Use | Electrical, Marine, Building & Construction |
By Companies | Scott Bader Company Ltd, Tianhe Resin Co, LERG SA, Ltd, INEOS, U-PICA Company Ltd, Eternal Materials Co, Dow, Polynt, BASF SE, Satyen Polymers Pvt Ltd, Ltd, UPC Group, Koninklijke DSM NV |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 250 |
Number of Tables & Figures | 175 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (DCPD, Orthophthalic, Isophthalic), by End Use (Electrical, Marine, Building & Construction).
Unsaturated Polyester Resin Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Unsaturated Polyester Resin Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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