Saturated Polyester Resin Market Size, Insights, Growth Rate Report 2020Posted by Research on February 19th, 2021 The global Saturated Polyester Resin market was valued at USD 4,281.1 million in 2019 and is expected to reach USD 6,598.5 million by 2027, growing at a CAGR of 5.59% from 2020 to 2027. Saturated polyester resin is formed by the reaction of polybasic acids and polyols, and its feature includes excellent flexibility and hardness. It is mainly used in can coating, rolled steel, non-stick pan, ink, adhesive, PET coil, metallic baking paint such as automotive paint, and so on. Saturated polyester resin is water, heat, and humidity resistance, therefore, they offer a wide range of applications in several industries such as paint & coating which are projected to boost the market growth over the forecast period. The rising industrial sector is influencing to spur market growth in the upcoming years. Furthermore, strict government regulations imposed on VOC emissions have resulted in the development of eco-friendly technologies that are substituting solvent-borne coatings. This, in turn, might fuel the demand for saturated polyester resin Request Sample Report @ https://qualiketresearch.com/request-sample/Saturated-Polyester-Resin-Market/request-sample Saturated polyester resins are primarily used to manufacture solvent-free powder paints and coatings. Owing to its superior properties, such as good weather resistivity, excellent impact strength, and adhesion to metals (even under humid conditions). Saturated polyester resins are favored for exterior and interior architectural applications, coating machinery, domestic appliances, steel furniture, and garden tools. Growing construction and automotive sector are expected to drive the usage of powder coatings, thereby boosting the growth of the market during the forecast period.The construction sector has been witnessing a robust growth in Asia-Pacific and Middle East & Africa. In the Middle East & African region, governments have been making efforts to develop the non-oil sectors, after the region faced a financial crisis, due to the drastic fall in oil prices in the past. Significant numbers of raw materials used in coatings formulations are either derived directly from oil for their chemical composition, or indirectly as a result of energy derived from oil for their mining and/or processing. The price of oil can be highly volatile and many factors can impact this forecast, driving the price/barrel either up or down. As a result, oil prices have a significant impact on the price of coatings raw materials. ChemQuest estimates that there is a “pass-through factor” of roughly 50%—i.e., if the price of oil doubles, raw material prices will increase by 50%. A realistic worst-case scenario might see prices of crude oil 50% higher than the forecast, which would increase raw materials for paints and coatings roughly 25%.Over the coming five years, the price of oil is forecast to remain relatively stable, within the range of –/barrel according to the U.S. Energy Information Administration (EIA). The implication for raw material suppliers and coatings formulators is that the price of the base materials that comprise coatings will likely rise at a rate similar to the rate of inflation to 2022. Consumer and regulatory pressure to replace bisphenol-A (BPA)-based materials in food contact metal packaging coatings has increased in recent years.Bisphenol-A (BPA) is a chemical commonly used in food contact plastics and coatings applications such as the BPA-epoxy-based linings of metal cans containing food or beverages. With increasing pressure from food brands, formulators and can makers are actively looking for alternative solutions that can meet or exceed the performance of BPA-based coatingsAmong all the new resin technologies today, polyesters with a balance of key performance attributes have emerged as one of the most promising alternative solutions. The outbreak of coronavirus has resulted in major disruption of saturated polyester resin production, supply chain, shortage of raw materials, and increased costs. In addition, the cost volatility of petroleum products is impacting the market. Nevertheless, end-users are seeking alternative supply sources to maintain supply chains. The recovery is likely to be strong after the outbreak is brought under control, owing to the wide scope of applications for saturated polyester resins. Saturated Polyester Resin Market Segmentation Based on the type segment, the overall saturated polyester resin market is segmented into solid saturated polyester resin and liquid saturated polyester resin. The liquid saturated polyester resin segment dominated the target market in 2019 due to its extensive usage in the coating industry as industrial paints and automotive paints. By application-wise, the worldwide market is classified into the automotive industry, home appliances, industrial machinery, and OEMs. Among this automotive industry has the highest market share owing to surge in the sale and production of vehicles around the globe.The demand is driven by rising sale and production of vehicles which requires polyester resins for automotive paintings, light covers, dashboards, panels, coating and among others. Regional Analysis North America to grow at the highest CAGR during the forecast period Geographically, the global Saturated Polyester Resin market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America accounted for the highest revenue share. North America Saturated Polyester Resin Market was valued at USD 763.6 million in 2019 and is expected to reach USD 1,202.9 million by 2027, growing at a CAGR of 5.88% from 2020 to 2027. Growing adoption of the electric vehicles due to growing awareness about the pollution control devices, and rising the disposable income in this region have propelled the saturated polyester market Top Key Players Various key players are discussed in this report such as Royal DSM N.V., Allnex Belgium SA/NV, Arkema S.A., Nuplex Industries Ltd., Stepan Company, Evonik Industries, Nippon Gohsei, Covestro AG , and Megara Resins. Recent Developments
Market Segmentation By Type
By Application
By Region
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