Global Unsaturated Polyester Resins Market Size 2024, Forecast To 2033
11 Mar, 2024
The unsaturated polyester resins market has demonstrated strong growth, ascending from $10.43 billion in 2023 to $11.23 billion in 2024, with a compound annual growth rate (CAGR) of 7.6%. The growth during the historic period is attributed to the expansion of emerging markets, rapid industrialization, growth in the chemical industry, and increasing construction activities. Looking forward to 2028, the market is expected to witness strong growth, reaching $14.89 billion with a CAGR of 7.3%. This growth is linked to factors such as growth in government support, rising urbanization, the growing automotive industry, and the increasing demand for fiber-reinforced plastic (FRP). Notable trends in the forecast period encompass a focus on bio-based unsaturated polyester resins to develop monomer-free options, new plant expansions, product innovations, and partnerships and collaborations.
Global Unsaturated Polyester Resins Market Key Driver
The unsaturated polyester resins market is witnessing substantial growth propelled by the expansion of the construction industry. With involvement in building maintenance, repair, and new construction, the construction industry's growth significantly contributes to the demand for unsaturated polyester resins. These resins offer properties like rapid strength gain, chemical and corrosion resistance, high impact strength, and excellent compressive strength, making them essential in construction activities. The surge in building activities, as indicated by a 10.2% growth in construction value from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, drives the unsaturated polyester resins market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Unsaturated Polyester Resins Market ReportGlobal Unsaturated Polyester Resins Market Segments
The unsaturated polyester resins market covered in this report is segmented –
1) By Type: Orthophthalic Resins, Isophthalic Resins, Dicyclopentadiene, Other Types
2) By Form: Liquid Form, Powder Form
3) By End-User: Building And Construction, Automotive, Marine, Pipes, Ducts And Tanks, Wind Energy, Electrical And Electronics, Other End-Users
By Geography:The regions covered in the unsaturated polyester resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the unsaturated polyester resins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unsaturated polyester resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Unsaturated Polyester Resins Industry Players
DOW Inc, BASF SE, INEOS Group Holdings S.A., SABIC, UPC Technology Corporation, Eternal Materials Co Ltd, Polynt Group S.A.R.L., Mitsubishi Gas Chemical Company Inc, DIC Corporation, Scott Bader Company Ltd, Ashland India Private Limited, Interplastica Pvt. Ltd., Poliya Composites Resins, Polymers India Private Limited, Reichhold India Private Limited, Scott Bader India Private Limited, Swancor India Private Limited, Zhejiang Tianhe Resin Co Ltd, Jiangsu Fullmark Chemicals Co. Ltd, Shenzhen Wote Advanced Materials Co. Ltd, Hubei Phoenix Chemical Company Ltd, CIECH Sarzyna, Nouryon Chemicals, BÜFA Composites, LERG SA, Orson Resins and Coatings Private Limited (ORCPL), Mader Composites France M.C.F, Euroresins SAS, Ashland Inc., Interplastic Corporation, Pacific Materials Inc, Polyplastics USA Inc, DuPont, Mitsubishi Chemical Group, Celanese Corporation, AOC Resins, ExxonMobil Chemical, Innova, braskem, PVC Resin (Polyvinyl Chloride Resin), Resina Brasil, Saad Fiber Glass Trad Llc, Modest Marketing LLC, Fortune Emirates General Trading LLC, Polychem Resins International Industries LLC, Chemipol Trading (Pty) Ltd, Dow Plastics Sa Pty Ltd, NCS Resins, KZN Resins, General Chemical Company
Get The Full Global Unsaturated Polyester Resins Market ReportUnsaturated Polyester Resins Market Overview
The unsaturated polyester resins are mainly used in the production of fiber-reinforced plastics and filled plastic products and are obtained from the reaction of polyalcohol and polyacids. Unsaturated polyester resins are also used in tanks, sanitary ware, pipes, gratings, and high-performance components for the marine and transportation industry such as closure and body panels. They are cost-efficient, have good temperature tolerance capacity, and have resistance to water and chemicals.
Unsaturated Polyester Resins Global Market Report 2023 provides data on the global unsaturated polyester resins market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The unsaturated polyester resins market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.