PUBLISHER: Grand View Research, Inc. | PRODUCT CODE: 1178711
PUBLISHER: Grand View Research, Inc. | PRODUCT CODE: 1178711
The global unsaturated polyester resin market size is expected to reach USD 20.9 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.1% 2023 to 2030. Developments in the building and construction industry and applications of tanks and pipes are likely to drive demand for isophthalic acid in these end-use industries. Moreover, the increase in the use of environmentally friendly and energy-saving products is also expected to positively affect the market.
Favorable government regulations and infrastructure development initiatives such as increased foreign investment, subsidy provisions, and trade promotion are expected to increase demand for unsaturated polyester resin products over the forecast period. For instance, some of the development initiatives include the O'Hare and LaGuardia airport project in the United States, the Beijing airport expansion in China, the Government of India's Make in India initiative, etc.
It is expected that increased demand for unsaturated polyester resin products capable of operating at high temperatures and aggressive environments will encourage their use in the construction industry. The unsaturated polyester resin composite has allowed consumers to select products for a specific end-use from a wide range of options. The expansion of product distribution channels has also made products available to users, which has been the driving force behind the growth of the unsaturated polyester resin market.