Unsaturated Polyester Resins Market

Unsaturated Polyester Resins Market Size (2023-2028)

The unsaturated polyester resins (UPR) market is predicted to grow from USD 9.5 billion in 2022 to USD 12.7 billion in 2028, with a CAGR of 5.1% between 2023-2028

The expansion of this market is attributed mainly to the expansion of the construction industry, the increase in the urban population, the recovery of the worldwide economy, and the expansion of the composite industry. Contrary to this, the increase in styrene content and the use of epoxy resins act as important limiting factors that hinder the expansion of your market. The escalating call for UPR as an alternative to metals such as aluminum and steel due to its cost-effectiveness and ease of design and manufacture is predicted to boost market expansion over the foreseen period. UPR is widely employed in various vertical industries to improve the thermal, flexural, and mechanical properties of composites. Unsaturated polyester resins (UPR) are formed by condensation of unsaturated acids and diols with or without diacids. Unsaturated polyester resins when crosslinked with a reactive vinyl polymer form highly durable structures and coatings. Unsaturated polyester resin (UPR) is an important polymer for the production of composite materials, such as fiberglass-reinforced plastics (FRP).

Unsaturated Polyester Resins Market Trends:

Recent developments in building and construction, as well as tanks and pipelines, are likely to drive the call for isophthalic in these end-use segments. The escalating use of environmentally friendly and energy-efficient products is also predicted to positively influence the market for unsaturated polyester resins (UPR).

Recent Developments in the Unsaturated Polyester Resins Market:

• Allnex launches a saturated polyester resin system. When formulated into high gloss coatings, CRYLCOAT 1738-2 exhibits excellent resistance to overheating, boiling water, and acids.

• Arkema newly opened the latest first-class polyester resin-making industry in Mumbai, Maharashtra. This new facility includes a dedicated lab to provide application development and technical support.

Unsaturated Polyester Resins Market Drivers:

The rapid development of the construction and wind power industries is a major factor in the expansion of the worldwide market for unsaturated polyester resins. Furthermore, the escalating call from the chemical industry and the marine industry is another factor that is predicted to drive the expansion of the worldwide market to a great extent during the foreseen period. In addition, the escalating adoption of orthostatic resins in the shipping and maritime industries is another factor driving the expansion of the worldwide market. Technological advancements, innovations, and studies conducted to expand the scope of the product are predicted to stimulate call. Additionally, escalated drilling activities for offshore crude oil production, which are more prone to corrosion in Brazil and Middle Eastern countries, are predicted to increase the use of fiber-reinforced plastics in the coming years. The escalating call for unsaturated polyester resin composites in printed circuit boards (PCBs), due to their superior properties such as unmatched rigidity and durability, is predicted to drive the market in the near future.

Unsaturated Polyester ResinsMarket Restraints:

The availability of substitutes is a major factor hampering the expansion of the unsaturated polyester resins market. In addition, fluctuating commodity prices is another factor that greatly slows the expansion of the world market. The volatility of commodity prices affects the cost of the final product, which is predicted to hamper the expansion of market revenue. Furthermore, the poor recycling property of these resins should limit their use in automotive applications.

UNSATURATED POLYESTER RESINS MARKET REPORT COVERAGE:

Opportunities in the Unsaturated Polyester Resins Market:

UPRs are widely employed in the building and construction industry. This expansion in the construction industry is predicted to drive the call for FRP products. This would lead to escalated calls for EPU in various applications. Furthermore, the escalating call for composites in solder paddles, speaker boxes, and rugged mobile phones is predicted to boost UPR market expansion over the foreseen period.

Challenges in the Unsaturated Polyester Resins Market:

The availability of alternative polymeric resins such as epoxy resin and nylon for composites is anticipated to limit the call for UPR in electrical end uses.

Market Segmentation:

Unsaturated Polyester ResinsMarket By Type:

• Orthophthalic

• Isophthalic

• DCPD

Orthophthalic resins are the quickest-developing and most popular resins in the end-user business. These are advantageous in terms of cost, toughness, and chemical resistance over other resins, such as isophthalic, DCPD, and terephthalic resins.

Unsaturated Polyester ResinsMarket By End-Use Industry:

• Building and Construction

• Marine

• Land transportation

• Pipes and tanks

• Artificial stone

• Wind energy

• Electrical and electronics

The wind energy segment is predicted to grow at the highest CAGR from 2022 - 2027, both in terms of value and volume. It is predicted to expand the range of end-use products made from UPR. The manufacture of wind turbine blades is an important application of UPR in the wind energy sector.

Unsaturated Polyester Resins Regional Analysis:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The Asia-Pacific region dominated the worldwide UPE market, in terms of volume, in 2015. China and India are the top two UPE markets in this region. Rapid industrialization in countries such as India, China, Indonesia, and Malaysia, along with relaxed standards, cheap labor, and a large customer base, are conducive factors for major players setting up their facilities in the region. The Asia-Pacific market dominates the worldwide unsaturated polyester resin market in terms of revenue and is predicted to maintain its dominance over the foreseen period. The Asia-Pacific unsaturated polyester resin market is predicted to experience the highest expansion in the worldwide market. The unsaturated polyester resin market in North America represents the second-largest revenue share in the world market. The European market represents a considerable part in terms of revenue in the worldwide market. The European market for unsaturated polyester resins is predicted to experience significant expansion during the foreseen period. Furthermore, favorable policies such as Foreign Direct Investment (FDI) and Make in India implemented by the Indian government are predicted to create many expansion opportunities for the automotive industry, which in turn will increase the consumption of Unsaturated Polyester Resin in automotive applications. . In North America, the unsaturated polyester resin market is driven primarily by expansion in the construction, electronics, and manufacturing sectors. UPR and UPR compounds are widely employed in the construction and construction industry and other applications such as tanks and pipes. Call in Europe could grow significantly to around 6.5% during the foreseen period. Strict government standards governing the recycling of automotive components can affect profitability in the region. The European Commission has authorized the companies to merge to produce UPRs that are preferably employed to make reinforced plastics.

Competitive Landscape:

Most of the key players operating in the UPR market have integrated their production and distribution operations to maintain product quality and expand their regional reach. The initiatives provide companies with a competitive advantage in the form of cost advantages, thus escalating the profit margin. Companies conduct mergers and acquisitions and research and development activities to develop new products to compete in the market and the changing needs of end-users.

Unsaturated Polyester Resins Market Key Players:

1. BASF SE

2. Dow Chemical Company

3. Ashland, Inc

4. Swancor

5. AOC LLC

6. E. I. du Pont de Nemours and Company

7. Reichhold LLC

8. DSM

9. LanxessAktiengesellschaft

10. Scott Bader and Royal DSM