The global unsaturated polyester resin (UPR) market is set to gain momentum from the increasing demand from numerous end-use industries, such as marine, electrical electronics, aerospace, and automotive. This information is given by Fortune Business Insights™ in a new report, titled, “Unsaturated Polyester Resin Market Size, Share COVID-19 Impact Analysis, By Type (Orthophthalic, Isophthalic, and DCPD), By Application (Building Construction, Marine, Pipes Tanks, Electrical Electronics, Land Transportation, Wind Energy, and Others), and Regional Forecast, 2020-2027” The report further states that the market size was USD 11,579.6 million in 2019 and is projected to reach USD 16,965.7 million by 2027, exhibiting a CAGR of 5.9% during the forecast period.
Browse In-depth Summary of This Research Insight:
Excellent Surface Finish and Water Repellency to Augment Growth
The building and construction industry is the major user of unsaturated polyester resins as the material is necessary for producing bathroom fixtures, floor tiles, roof tiles, and window panels. It also has certain beneficial properties, such as good electrical insulation, rigidity, resistance to wear, water repellency, and excellent surface finish. These factors are anticipated to propel the unsaturated polyester resin market growth in the upcoming years. However, the availability of numerous substitutes in the market would obstruct growth.
Marine Segment to Grow Steadily Fueled by Usage in Surfer Boards Boat Decks
Based on the application, the marine segment generated 8.84% in terms of the unsaturated polyester resin market share in 2019. It is set to show substantial growth backed by the increasing usage of UPR in surfer boards, fiberglass panels, interior exterior parts, and boat decks.
A list of all the prominent UPR manufacturers operating in the global market:
- Reichold (U.S.)
- Royal DSM (Netherlands)
- Deltech (U.S.)
- Polynt (Italy)
- Dow (U.S.)
- BASF SE (Germany)
- INEOS (U.K.)
- U-PICA Company. Ltd. (Japan)
- UPC Technology Corporation (Taiwan)
- Scott Bader Company Ltd. (U.K.)
- Other Key Players
Asia Pacific to Lead Fueled by Demand from Construction and Marine Industries
Geographically, Asia Pacific procured USD 6,606.2 million in 2019 in terms of revenue. It is likely to retain its dominant position throughout the forthcoming years because of the rising demand for unsaturated polyester resins in numerous industries, such as aerospace, marine, building construction, and automotive. Emerging nations, namely, Japan, India, and China, are expected to contribute to this growth because of constant economic development.
On the other hand, North America is set to exhibit a significant share stoked by the rising disposable income and technological advancements in the region. In Europe, Germany would showcase the highest growth on account of the sales and production of automobiles.
Key Players Focus on Various Organic Inorganic Strategies to Compete in Market
The global market for unsaturated polyester resins houses several renowned manufacturers. Most of them are adopting the strategies of collaboration, acquisitions, new product launches, and expansion of distribution channels. Below is one of the latest industry developments:
- December 2020: AOC acquired a Spolchemie plant for unsaturated polyester resins in the Czech Republic. It would aid the company to enhance its logistics and services.