Unsaturated Polyester Resin Market is estimated to be US$ 14,450.54 million by 2030 with a CAGR of 5.30% during the forecast period
Unsaturated Polyester Resin Market accounted for US$ 8655.34 million in 2020 and is estimated to be US$ 14,450.54 million by 2030 and is anticipated to register a CAGR of 5.30%. Unsaturated polymer resin (UPRs) are chemicals formed by the condensation of unsaturated acids and diols, resins form highly durable structure and coating when it is cross-linked with vinyl reactive monomer. Unsaturated polyester resin is used in the manufacturing of plastic composites. Composites materials are also used to produce panels, frames, interior components, and various other components used in automotive, agriculture, transportation, and construction industries. Unsaturated polyester resin composites are also used in electronics industries and electrical. In electronic industries, unsaturated polyester resins are used for the manufacturing of substation equipment, microwave antennas, standoffs, and pole line hardware, and printed writing boards.
The report " Global Unsaturated Polyester Resin Market, By Product Type, (Orthophthalic, Polyesters, Isophthalic, Dicyclopentadiene, and Others), By End-Use Industry (Marine, Building Construction, Transportation, Electrical & Electronics, Power Generation, Oil and Gas, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast Till 2030”
Key Highlights:
In February 2020, INEOS launched a new low-profile resin for the recreational vehicle markets and marine in North America. Aropol LP 67400 is designed to give offer high strength and robust processing capabilities that boat builders and RV manufacturers desire
In July 2020, Ashland declared a definitive agreement to sell maleic anhydride business to AOC Materials. Maleic Anhydride is a natural raw material to produce UPR. So, this deal will help them to increase its product range in unsaturated polyester resins.
Analyst View:
Growing concerns over corrosion are associated with metal tanks and pipes coupled with gaining importance of tank farm management in onshore and offshore oil and gas applications have increased the scope for fiber reinforces plastic tanks and pipes. Rising demand for fiber-reinforced plastic tanks and pipes is boosting the growth of the market. The increasing use of environment-friendly and energy-saving products is also positively influencing the market for unsaturated polyester resin (UPR). They offer excellent strength, recyclability, and thermal and corrosion resistance with the lower thickness in bio-based unsaturated polyester resins also boosts the market growth.
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Key Market Insights from the report:
Global Unsaturated Polyester Resin Market accounted for US$ 8655.34 million in 2020 and is estimated to be US$ 14,450.54 million by 2030 and is anticipated to register a CAGR of 5.30%. The Global Unsaturated Polyester Resin Market is segmented by Product type, End-use Industry, and Region.
By Product type, Global Unsaturated Polyester Resin Market is segmented into Orthophthalic, Polyesters, Isophthalic, Dicyclopentadiene, and Others.
By End-use Industry, Global Unsaturated Polyester Resin Market is segmented into Marine, Building Construction, Transportation, Electrical & Electronics, Power Generation, Oil and Gas, and Others
By region, the Global Unsaturated Polyester Resin Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Competitive Landscape:
Key players operating in the global unsaturated polyester resin market includes Ashland Global Holdings Inc., Tianhe Chemicals Group Ltd, Changzhou Zhonghui Solar Technology Company Limited, Aoc Resins and Coatings Company, BASF SE, The Dow Chemical Company, Koninklijke DSM N.V., CCP Composites, Reichhold Inc., and Saudi Basic Industries Corporation.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
