How much will the Unsaturated Polyester Resin industry be worth in the Future???

Posted by Mrudula Anil Karmarkar on December 30th, 2020

The global unsaturated polyester resin market size is anticipated to reach USD 18.9 billion by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. Developments in the building and construction and tank and pipes are likely to drive the demand for the isophthalic in these end-use segments. Increasing use of environment-friendly and energy saving products is also expected to influence the market, positively.

The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.

Favorable government regulations and initiatives to develop the infrastructure, such as the provisions for subsidy, increasing foreign investments and trade promotion are projected to augment product demand over the forecast period. Some of the initiatives are LaGuardia and O’Hare airport construction project in U.S., Beijing Airport expansion in China, and Make in India initiative by the government of India.

Increased demand for the products which are capable of working in high-temperatures and corrosive environment is anticipated to foster usage in the building and construction end-use industry. Unsaturated polyester resin (UPR) composite has enabled consumers to pick end-use specific product from a wide range of options. The widening of product distribution channels has also made these products readily available to the users, thus acting as a driving force for the growth of the market for UPR.

Further key findings from the repot suggest:

• Orthophthalic occupied the largest revenue share on account of its higher price and increasing usage in construction, electronics, and automotive sectors
• DCPD emerged as the fastest growing product segment in Europe and North America as it exhibits properties such as high deflection temperature, high resistance to chemical corrosion, and high impact resistance
• Rising demand for environment-friendly and energy saving products and solutions is expected to drive the unsaturated polyester resin (UPR) market
• The marine end-use segment is projected to exhibit the highest CAGR over forecast period
• Stringent environmental rules and regulations and focus on indoor air quality is anticipated to drive the market
• Increasing investment from government and private institutions in the building and construction sector is projected to contribute to the demand for these resins
• Key players include INEOS, BASF SE, Polynt, Koninklijke DSM N.V., U-PICA Company. Ltd., Eternal Materials Co., Ltd., Satyen Polymers Pvt. Ltd., Dow, UPC Group, Scott Bader Company Ltd., Tianhe Resin Co., Ltd., and LERG SA.

 The global unsaturated polyester resin market size was valued at USD 11.63 billion in 2020. Recent developments in the building and construction and tank and pipes are likely to drive the demand for isophthalic in these end-use segments. Increasing use of environment-friendly and energy saving products is also expected to positively influence the market for unsaturated polyester resin (UPR).

Ongoing research and developments in bio-based unsaturated polyester resin are likely to boost market growth as they offer recyclability, excellent strength, and thermal and corrosion resistance with lower thickness. Technological breakthroughs, innovations, and studies carried out for expanding the product’s application scope are projected to foster demand.

Unsaturated polyester resin is majorly used in the manufacturing of plastic composites. The use of composite materials is increasing in industries including building and construction, transportation, industrial, and sports and recreation. Composite materials offer various advantages such as low material cost, chemical and corrosion resistance, flexibility in component designing, and electrical insulation over the conventional materials such as metals and concrete components.

Composite materials are used to produce frames, panels, interior components, and various other components used in automotive, transportation, agriculture, and construction industries. In electrical and electronics industry, unsaturated polyester resin composites are used for manufacturing microwave antennas, substation equipment, printed wiring boards, and standoffs and pole line hardware. The wide application scope of unsaturated polyester resin composites is expected to drive their demand over the forecast period.

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Grand View Research has segmented the global unsaturated polyester resin market on the basis of product, end use, and region:

UPR Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• DCPD
• Orthophthalic
• Isophthalic
• Others

UPR End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Building & Construction
• Tanks & Pipes
• Electrical
• Marine
• Transport
• Artificial Stones
• Others

UPR Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America

o    U.S.

• Europe

o    Germany

o    U.K.

• Asia Pacific

o    China

o    India

• Central & South America
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com