The global unsaturated polyester resins market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
An unsaturated polyester resin (UPR) is a form of thermoset moulding resin that is used for the manufacturing of glass fiber-reinforced plastics (FRP). It exhibits various physical properties, such as high tensile, binding and impact strength, along with resistance against heat and corrosion. It is also used for the production of composite materials, wood paints, laminated panels, coatings, colouring pastes and sanitaryware.
Unsaturated Polyester Resin Market Trends:
- Significant growth in the construction industry, along with rapid urbanization across the globe, is one of the key factors driving the growth of the market. UPRs are widely utilized in the manufacturing of building panels, concrete rebars, forming pans, doors, electrical boxes and floor grafting. These resins find further application in the marine industry, which is also providing a boost to the market growth. UPRs are increasingly replacing various metals, such as aluminum and steel, in the production of hulls and decks of boats, land transport components and wind turbine blades. In comparison to their metallic counterparts, UPRs are highly customizable and offer ease of fabrication and design. Rising product utilization in the chemical industry for the manufacturing of adhesives, castings, composites, flooring materials, gel coats and pigment pastes is also creating a positive impact on the market growth. Other factors, including the growing demand for nonreinforced cross-linked UPRs for the manufacturing of automotive repair components, along with extensive research and development (R&D) activities to improve the physical properties of the resins, are projected to drive the market in the coming years.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global unsaturated polyester resins market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, end-use and form.
Breakup by Type:
- Orthophthalic Resin
- Isophthalic Resin
- Dicyclopentadiene (DCPD) Resin
Breakup by End-Use:
- Building and Construction
- Pipes, Ducts and Tanks
- Wind Energy
- Electrical and Electronics
Breakup by Form:
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined with some of the key players being AOC LLC, Ashland LLC, BASF SE, CCP Composites Ltd, E. I. Du Pont, Allnex Resins Australia Pty Ltd, Polynt Composites USA Inc., Reichhold Inc., Koninklijke DSM N.V., Scott Bader Company Ltd. and Upc Technology Corporation, etc.
Key Questions Answered in This Report:
- How has the global unsaturated polyester resins market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global unsaturated polyester resins market?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end-use?
- What is the breakup of the market based on the form?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global unsaturated polyester resins market and who are the key players?
- What is the degree of competition in the industry?