How Has the Unsaturated Polyester Resins Market Size Evolved in Recent Years?
The unsaturated polyester resins market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the unsaturated polyester resins market of late. It's projected to climb from $11.16 billion in 2024 to $11.98 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.3%.
This historical growth surge can be linked to emerging markets' expansion, swift industrialization, the chemical industry's growth, and the rise in construction activities.
How Does the Forecast Look for the Unsaturated Polyester Resins Market?
The unsaturated polyester resins market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for unsaturated polyester resins is anticipated to experience robust growth in the forthcoming years, reaching $16.2 billion in 2029, with a compound annual growth rate (CAGR) of 7.9%.
This expansion during the forecast period could be due to increased governmental support, escalating urbanization, a thriving automotive industry, and a rising demand for fiber-reinforced plastic (FRP). Within the forecast period, the significant trends to watch for include the utilization of bio-based UPRS to formulate monomer-free unsaturated polyester resins, concentration on new plant development, attention towards product innovation, and an emphasis on partnerships and collaborations.
Which Factors Are Boosting Growth In The Unsaturated Polyester Resins Market?
The expansion of the construction sector significantly fuels the growth of the unsaturated polyester resins market. This industry, which engages in building, maintaining, and fixing structures, capitalizes on the properties of unsaturated polyester resins, such as high impact strength, robust chemical resistance, quick strength gain, and outstanding compressive strength characteristics, beneficial for construction and building practices. The construction sector is experiencing growth, which in turn, propels the unsaturated polyester resins market. For example, Eurostat, a European government agency, reported in February 2024 that on a year-on-year basis, the building production in both, the EU and the Eurozone, increased by 0.1% and 0.2% respectively, when compared to 2022. Thus, the flourishing construction industry is a key driver for the growth of the unsaturated polyester resins market.
How Are The Segments Defined Within The Global Unsaturated Polyester Resins Market?
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
Subsegments:
1) By Orthophthalic Resins: General-Purpose Orthophthalic Resins, Reinforced Orthophthalic Resins
2) By Isophthalic Resins: High-Performance Isophthalic Resins, Specialty Isophthalic Resins
3) By Dicyclopentadiene Resins: Dicyclopentadiene-Based Resins for Composites, Dicyclopentadiene-Based Resins for Coatings
4) By Other Types: Vinyl Ester Resins, Alkyd Resins, Other Specialty Resins
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How Are New Trends Expected To Influence The Growth Of The Unsaturated Polyester Resins Market Landscape?
Leading organizations in the unsaturated polyester resins market are concentrating on the development of groundbreaking bio-based unsaturated polyester resin to decrease environmental consequences, augment sustainability in production procedures, fulfill escalating regulatory requirements for green materials and cater to manufacturers with advanced alternatives matching the burgeoning consumer predilection towards sustainable goods. The bio-based unsaturated polyester resin is mainly synthesized from renewable resources like natural oils, starches or plant-based materials rather than conventional petroleum origins. For instance, Exel Composites, a Finland-based firm that produces pultruded and pull-wound composite solutions, announced the launch of a unique bio-based unsaturated polyester resin in October 2024. This revolutionary resin, derived from renewable sources, acts as a greener substitute for conventional petroleum-derived resins, making it especially apt for use in the automotive and transportation industries where carbon footprints reduction is essential. This new resin retains high-performance and durability standards, thus nominated as a captivating choice for manufacturers aiming for greener materials adoption while adhering to industry demands for quality and proficiency.
Who Are the Key Players in the Unsaturated Polyester Resins Market?
Major companies operating in the unsaturated polyester resins market include:
• 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
• 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
• NCS Resins
• KZN Resins
• General Chemical Company
What Is The Most Dominant Region In The Unsaturated Polyester Resins Market?
Asia-Pacific was the largest region in the unsaturated polyester resins market in 2024. 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.
