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.
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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 Companies Profiled
- Reichhold Inc.
- Koninklijke DSM N.V.
- Tianhe Resin Co. Ltd.
- BASF SE
- UPC Group
- Scott Bader Company Ltd.
- U-PICA Company Ltd.
- Satyen Polymers Pvt. Ltd.
- Eternal Materials Co. Ltd.
- LERG SA
- Dow Chemical
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.
Key Segments of Unsaturated Polyester Resin Industry Research
- By Product :
- By End Use :
- Building & Construction
- Tanks & Pipes
- Artificial Stones