Unsaturated Polyester Resin (UPR) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Unsaturated Polyester Resin Market
The Unsaturated Polyester Resin market was valued at USD 11.57 billion in 2023, and the market is now projected to grow to USD 16.96 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period of 2024-2032.
The havoc caused by the most traumatic and devastating pandemic globally has affected all nodes of lives and the functioning of almost all the commercial and non-commercial sectors. These businesses incorporate automotive and building & development. The lockdown has driven to a deficiency of crude materials, which, in turn, has caused a stop in fabricating activities in these businesses. Usually, advance driving to a decrease in item request. This has surged the estimating of crude materials and wrapped up items as a mode to create sufficient income for producers. In addition, the normalization after the COVID-19 period is expected to advantage fabricating businesses such as car, marine, and aviation to assist in income era, which, in turn, would back the Unsaturated Polyester Resin market growth.
The developing request for UPR from a few end-use businesses such as car, aviation, electrical & hardware, and marine is emphatically influencing the key market development. This product is utilized for printed wiring sheets, channels and channels, and boards. This product is additionally utilized as a composite fabric for making vehicle structures and pontoons within the car and marine businesses. As composite materials made from this fabric are low-cost and lightweight, this acts as an perfect item to be utilized in these businesses, in this way coming about within the high request for unsaturated polyester resin.
This product is majorly utilized within the building & development industry for the fabricating of items such as window boards, roof tiles, floor tiles, and lavatory installations. The utilize of this item offers excellent surface wrap up, water repellency, resistance to wear, inflexibility, and great electrical separator. Consequently, the expanding request from the building & development industry acts as a key driving figure for the UPR market. Developing development exercises around the globe to meet the tall request from the rising populace is leading to the tall utilization of this item. Other than, the extension of government foundations and lodging ventures in creating districts is driving the building & development industry, which is assist expected to move the UPR market.
Comprehensive Analysis of Unsaturated Polyester Resin Market
The bifurcation in the type analysis is categorized as DCPD, orthophthalic and isophthalic. The orthophtalic segment with more beneficial properties inclined as toughness, durability, thermal resistance and chemical is proved to be more dominant. The application of the unsaturated polyester resin market is sectioned as different terms namely wind energy, building and construction, land transportation, marine, electrical and electronics, pipes and tanks. Among all the segments of pplication, the part building and construction is mounted to be the most dominant and widely utilized as the demand for the housing sector rises with a boost in the population growth.
The dominance of Asia Pacific region is gaining a traction in the global unsaturated polyester resin market share with a notable valuation of USD 6.60 billion. Provoked demand from the aerospace and automotive sector is attributed towards the increasing demand of the product. The economic development from various countries namely India, Japan and China arouses the significant demand for the composite materials made from this product and thus congruently gives a boost in the product development and market growth.
The market for the Unsaturated Polyester Resin is majorly comprised of the prominent players that are operating intensively in the market, proving their existence and profitable revenues with the extensive research and innovative practices and product development. The market players lined up are as follows: Reichold (U.S.), Royal DSM (Netherlands), Deltech (U.S.), Polynt (Italy), Dow (U.S.), BASF SE (Germany), INEOS (U.K.), U-PICA Company. Ltd. (Japan), UPC Technology Corporation (China) and Scott Bader Company Ltd. (U.K.) are dedicatedly working towards the intensive research and development of the innovation in manufacturing and launching Unsaturated Polyester Resin products enriched with more health benefits and maximum nutrient absorption.
In the month of December 2020, AOC, a U.S.-based polyester and vinyl ester resins maker, has completed the procurement of a Spolchemie plant for unsaturated polyester resins within the Czech Republic. Usually anticipated to permit the company to assist move forward the administrations and logistics for its shoppers in central and Eastern Europe.
SEGMENTATION TABLE
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Volume (Kiloton); Value (USD Million)
Segmentation By Type, By Application, and By Region
By Type
Orthophthalic
Isophthalic
Dicyclopentadiene (DCPD)
By Application
Building & Construction
Marine
Pipes & Tanks
Electrical & Electronics
Land Transportation
Wind Energy
Others
By Region
North America
By Type
By Application
By Country
U.S. (By Application)
Canada (By Application)
Europe
By Type
By Application
By Country
Germany (By Application)
France (By Application)
UK (By Application)
Italy (By Application)
Spain (By Application)
Rest of Europe (By Application)
Asia Pacific
By Type
By Application
By Country
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America
By Type
By Application
By Country
Brazil (By Application)
Rest of Latin America (By Application)
The Middle East & Africa
By Type
By Application
By Country
South Africa (By Application)
Rest of Middle East & Africa (By Application)