Market Research Report
Global Saturated Polyster Resin Market - Market share and Industry Forecast to 2024
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||675304|
|Published||Content info||240 Pages
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|Global Saturated Polyster Resin Market - Market share and Industry Forecast to 2024|
|Published: August 1, 2018||Content info: 240 Pages||
Global saturated polyester resin market is projected to grow with a CAGR 5.9% during 2016-2023. The key factors driving the market growth are environmental safety concerns and rising awareness regarding saturated polyester resin, growing automobile industry, excellent mechanical properties, growing building & construction sector and rising consumer demand for household appliance.
Asia Pacific is the leading region for global saturated polyester resin market in terms of market revenue share. Increasing consumption of saturated polyester resin for wide industrial applications like automobiles, paints and household appliance are driving Asia Pacific saturated polyester resin market for forecasted period. India and China are amongst the leading market for saturated polyester resins with growing industrialization and positive economic outlook. Increasing sales (of automobiles & household appliance) and positive economy outlook are the factors fuelling demand for saturated polyester resin in automotive paints and powder coatings in region for forecasted period. However, North America is the fastest growing market region during forecast period 2016-2023. This is due to increased adoption of saturated polyester resins in countries such as US, Canada etc.
The global saturated polyester resin market is influenced by the presence of leading companies such as Arkema S.A. (France), Covestro AG (Germany), Evonik Industries (Germany), Hitachi Chemicals (Japan), Megara Resins (Greece) etc. Product launch, joint ventures, merger and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.
The report on global saturated polyester resin market includes type and applications. On the basis of types of saturated polyester resin, market is segmented into liquid saturated polyester resin and solid saturated polyester resin. Liquid saturated polyester resin is the dominating type segment due to its increased adoption in various applications such as coil & can coatings, automotive paints, industrial paints, 2k PU coatings etc. Furthermore, surging demand for aluminum products such as fascia, soffit, trim, etc. along with commercial construction products including cladding, metal roofing, Heating, ventilation, and air conditioning (HVAC) equipment, etc. has led to the increased adoption of liquid saturated polyester resin. On the basis of applications of saturated polyester resin, market is segregated into powder coatings, industrial paints, coil & can coatings, automotive paints, flexible packaging, 2k PU Coatings, etc. Powder coating is amongst the leading application of saturated polyester resin. Powder coatings are applied onto automobiles and consumer goods (for example, washing machine and microwave).